Trainers Notes for Module 2

Module No. 2 Module Title: Your Money Power Duration: 35 Mins Module Objective: To explore the idea that money is a tool that can bring power. To introduce the concept of spending power. To demonstrate to students the extent of their individual and collective spending power. To develop awareness and understanding of the fact that becoming independent is about having the ability to earn, spend, and manage your own money. Key Learning Outcomes: Students Understand the concept of spending power Develop an awareness of their own spending power Develop an awareness of the influence they have on others’ spending Key Terms: Spending power Resources: Student workbook, pens, pencils, whiteboard marker, calculators, cup, scratch paper WOW: Calculating Spending Power Extension Activities: Survey Requirements: None  Key Content Resources/Activites Introduction Discussion Input Activity Activity Share module objectives and expected learning outcomes. Objective: To define concept of spending power Objective: Illustrate spending power through collection of statistics regarding individual’s spending power. Note: Make sure students understand this activity is not for purpose of seeing who is rich/poor, but to become more aware of our daily spending that goes unnoticed. Objective: Illustrate spending power through collection of statistics regarding group’s spending power. In our last session, we talked about how money gives a person “power.” Let’s discuss that a little further. Q. How does money bring power? A. By giving us choices in life and by giving us the opportunity to be financially independent Two Types of Spending Q. How would you define/describe spending power? Trainer Tip: Write definition on board: “Spending power is calculated by estimating two types of spending: (1) The spending of YOUR personal money, and (2) the influence you have over the spending of other people’s money.” Q. Ask students to identify what spending they have recently influenced e.g. where the family went on vacation, what take-out food they ate last week. Students may have spent their own money on vacation, but they also influenced the way others spent money. Calculating Student’s Spending Power Items needed: Student workbook (page 9), calculators, cup, scrap paper, pens Explain to students that they are going to use Page 9 as a guide to calculate their spending power. Then they will calculate the class spending power. Step 1: Use Page 9 to estimate their individual weekly/monthly spending power. (questions 1-4) Step 2: In the table (question 5), multiply by 12 to get their annual spending power. Step 3: Discuss results. Are students surprised at the amount of money they spend or help people spend? Is the amount of money you spend a measure of your worth as a person? (No!) Step 4: Before continuing, ask students to predict what the class annual spending power might be. Each student should write their prediction on a piece of scrap paper, sign it, fold it, and put it in the cup. Trainer Tip: While students are preparing their predictions draw ‘Group Spending Power’ table on board. 3 columns headed ‘Members’ Names, ‘YOUR Money Yearly’, ‘Other’s Money Yearly.’ Enough rows for each member and a row labelled ‘Totals’. Calculating the Class Spending Power Split larger group into smaller groups of 4/5. Following the sample table you have drawn on the board, have small groups work together to add up the spending power in their small group and enter it in a table they create on scratch paper. Trainer Tip: Once groups have created their tables on scratch paper, adjust column one on board to read ‘Groups’ and then each row to read ‘Group 1’, ‘Group 2’, etc. Activity (cont’d.) Discussion Objective: Encourage students to think about the tremendous influence their spending power gives them, as well as the opportunity they might have to do something of lasting value with all this money. Complete new table on board to identify TOTAL class spending power. Trainer Tip: Allow students to do math for you! Q. Does this class spend a lot of money? Let’s see who came closest to predicting the class spending power. Look at all the predictions and determine who was closest. Encourage a round of applause and award a prize. Conclude this session by encouraging students to think about what they might do as a group if they pooled their spending power. What could happen if they paid more attention to their spending power and came up with a plan for using this money more wisely? What would they do with all this money? Smart Start to Money: Module 2 – Your Money Power 70 © Copyright 2005, YoungBiz Holding