Story Name:  Let’s find out what money is, what it means to us and how people earn money

Teacher’s Notes:

a.  Key topic

Through the story we introduce basic money concepts such as what money is, where it comes from, why we need it and what are the different things we can do with money.  We further explain that money has to be earned and discuss how people earn money.

b.  Concepts Introduced to the kids through the Story

• Understand why we need money
• Realize that money has to be earned
• Comprehend that money is not abundant and that we have to choose wisely how we use money

c.  Learning objectives for the Kids

• Describe where money comes from
• Identify ways to earn and use money
• Learn interesting historical facts about money

d.  Tips for Teaching through Storytelling

When teaching youngsters, we need to use a slightly different approach than when teaching adults, meaning that youngsters relate better to visuals, examples and stories (real life examples/stories are even better) and interactive technology.  Also, young kids do not need a lot of jargon, they need a much simpler vocabulary that they can understand.  In addition, the teacher has to figure out a way to relate to the kids and there are a number of things that can be done in this direction from the type of clothes the teachers wear, to the language they use, the way they move about in the class, etc.

Storytelling is more than just reading the words of a story out loud.  It takes other skills as well.  It is important for teachers to use different tones in their voice when they are telling a story.  If the teacher’s voice stays at the same level, it becomes boring!  The teacher will want their voice to go higher and lower, louder and softer.  Teachers should try to use different voices for different characters and make sure that they speak loud enough so that everyone hears them, and say the words clearly so that everyone can understand them.

Teachers should also have in mind that storytelling is not just words; it is motion as well.  They will have to move around when they tell their story; they should use their arms, legs, hands and their face to tell the story.  In addition, they have to make sure to maintain eye contact with their audience.  Eye contract is one of the most important non-verbal ways to connect with other people.  It helps keep the attention of the audience and it also conveys a sense of confidence and truthfulness.  It is best that teachers always look directly into the kids’ eyes; they will connect with them and keep their attention longer.

e.  In-class discussion after the storytelling

• Explain why we need money and ask the kids for some examples from their daily life.  Follow with a discussion of their examples.
• Discuss how money has to be earned and ask the kids for some examples from their life like whether they get money for doing certain chores at home, etc.  Follow with a discussion of their examples.
• Ask the kids the following questions and discuss their answers.  Usually there is time to take and discuss the answers of 2 to 3 kids.

• • What do people have to give up, to get money?
  • What was your favorite money fact and why?

The Story

The Soccertopia Eagles kids are having their weekly get-together with Mr. Soccerball and they are very excited because in a couple of weeks their soccer group will spend five days at a soccer camp to participate in a tournament.  Our three friends, Lucius, Fiducius and Madya are happily chatting about the prospect of the camp and Lucius is wondering whether they will be taken to the nearby town called Soccerland and be allowed to do some shopping.  He has heard that there is this great souvenir store which has some autographed soccer T-shirts by one of his favorite players and he really wants to get one.  Mr. Soccerball overheard the conversation and decided that the time had come to have a little chat with the kids about money.

-So kids, today let’s talk about something totally different than we usually do, said Mr. Soccerball.  How about we talk about money today?  Even though you are young, you do get a bit of money yourselves; pocket money, birthday money, money for doing chores.

-This is a really grown-up subject sir, replied Madya, but I think it is something that we all need to know about.

-I agree with you Madya, said Mr. Soccerball, so let’s get started.  What do you kids know about money?

Fiducius jumped in and said:  Money is what we have to give to get the things we need like food, clothes, a house, or the things that we want like toys, candy, or an iPad.

-I am very impressed Fiducius, said Mr. Soccerball.  This is a very accurate description.

-My mom is teaching middle school kids about money, said Fiducius, so she has been discussing her lessons with me and my sister to see whether kids our age can understand what she is talking about.  These money lessons are called “Financial Literacy Lessons”.

-Wow, said Lucius, the name of these money lessons sounds quite exotic, and all the kids started laughing.

-Now, can anyone tell me where money comes from, asked Mr. Soccerball.

-My mom says that money must be earned, said Madya.  What this means is that you have to do something to get money.  It is usually earned from a job or a business and when we are paid this money it goes into our account in the bank.  From that account, we pay bills and buy things.  She always makes sure to remind me that money is not made in a bank ATM and that it has to be deposited in the bank before it can be taken from the ATM.

-This is a very good and detailed description of where money comes from said Mr. Soccerball.

-Can I add something to it sir, asked Fiducius.  My mom always uses an example to make the kids in her class understand where money comes from and how it works.

-Sure Fiducius, said Mr. Soccerball, it would be great to hear this example.

-Well, this is how it works sir:

·         Our moms and dads go to work.

·         Mom and dad get money from working.

·         The money they get is put in the bank, in their bank account.

·         The bank gives mom and dad a plastic card which they can use to get money from their account or to pay for things from their account so that they don’t have to carry around with them a lot of cash; they might lose it or people might steal it from them.

·         Mom and dad go to the bank, usually they go to the ATM, to get cash.  The bank lets them take only what they have put in the account.  If they have put in $1,000, they can only buy things or take out money worth $1,000.

-Excellent Fiducius, said Mr. Soccerball.  So, people have to give up something to get money, just like your parents who have to work to earn money.  It is the same with your teachers and coaches who are working on educating you.  These people have to give up their time, or being at home playing with their kids, or relaxing, or simply having fun.  You should understand by now that money doesn’t come around on its own or without effort:  you have to work hard for it!

-It is clear now sir, money does not grow on trees, as my dad always says when I ask him to buy me things, said Lucius with a smile.

-Even though a lot of people think that money is a boring subject, there are some money facts which are actually interesting, said Mr. Soccerball.  I didn’t know them myself until I actually did some research last year when I wanted to talk to my kids about money, like we are doing today.

-We would love to hear them Mr. Soccerball, said Madya.  We always like to learn new things, especially if they are interesting.

-Ok, so here you go, said Mr. Soccerball:

·         It is believed that products like animals and grain were used to exchange goods and services without the use of money over 10,000 years ago.

·         The first coins were made around 2,500 years ago.

·         Paper money was first used in China over 1,000 years ago.

·         The U.S. currency is the dollar and it features former presidents such as George Washington ($1 bill), Abraham Lincoln ($5 bill), Andrew Jackson ($20 bill) and Benjamin Franklin ($100 bill).

·         Credit cards were first used in the United States in the 1920’s.

·         There are different types of money, called currencies, used in different countries around the world.

·         Many countries have their own currency, while some other countries use a shared currency.  An example of a shared currency is the Euro, used in many European countries like France, Germany, Spain, Italy, Greece, etc.

·         The currency most used around the world is the United States dollar.

-Wow, these are very interesting facts sir, said Madya, I am so happy we had this talk today, we learnt so many new things.  I think, this calls for a song, she said with a bright smile.  What do you think guys said Madya, as she turned to face the rest of the kids, and started singing:

Money comes from hard work

You have to earn it through a job

So when you ask for toys to buy

Make sure you think twice!