For a great deal on 5 Economics products check out this bundle!
The Economics of Checks, Budgets, Stocks, College, and Savings - 5 Activities!
The Economics of Saving Your Money - Piggy Banks, Simple & Compound Interest
I love teaching Economics to my middle school students because it directly relates to their lives. I teach 8th grade, and most of the students I teach save their dollars or coins in some form of a "piggy bank," some have a savings account, and some haven't had anyone show them how to get a savings account at a bank.
In this product, students will begin to understand the power on interest. They will be guided through three different scenarios of a girl named Marcy who is given $100. Your students job will be to figure out how much money Marcy would make by putting that $100 in a piggy bank for 10 years, a savings account earning simple interest for 10 years, and a savings account earning compound interest for 10 years. An answer key is provided for ease of instruction.
An extension activity is also provided in this product where your students are given $500 for their high school graduation. Your students can see what the power of compound interest will be if they don't touch that $500 for 40 years as well as if they add $500 to that account every year for 40 years. An answer key is provided for this activity as well so that your students can check in with you every so often to make sure they are on the right track if you so choose.
Many times after doing this activity students will say that they've asked their parents if they can go to the bank and open a savings account!
The Economics of Checks – Packet of Check Writing for Introductory Economics
This check writing packet will give students practice writing checks and recording their payments and deposits in a check register. Students read a story that takes them through a crazy day of writing six checks and making two deposits. They should end up with $5.00 left when they are done. The story, blank checks, check register, and answer key is provided with this purchase.
When I do this activity I usually print out two sets of blank checks for students. One for them to practice writing sample checks such as, "Write a check on May 10, 2014 to your school for $12.00 for a school T-shirt. How would you do that? What would it look like?" I let students try, then show them how I would write one on the overhead projector. I show them how to write the number in the amount as close as possible to the left edge so no one could add a number in there; thus changing a $47.00 check to $847.00. I also show them why to add a line after who you write the check out to so it doesn't end up as, "To: SOUTH MIDDLE SCHOOL or Your Social Studies Teacher." If the line is there it makes it harder for someone to alter the check.
When I teach this activity I tell students my one goal is that they protect themselves from ever getting ripped off. I also show them my own check card and how on the back I don't have my name signed. Instead I have "See I.D." I let them know that not even 5% of cashiers ever ask to see my identification. So I always ask the cashier, "How do you know this is my check card?" Many of my students will have jobs in high school as cashiers so it helps them be aware of identity theft early on.
Kids like this activity a lot, and they are usually very excited to find out if they got it right at the end.
Check out my other Economics Bundles:
The Economics of Balancing a Budget & The Economics of Saving Your Money
The Economics of Balancing a Budget & The Economics of Check Writing
The Economics of Balancing a Budget & The Economics of College
The Economics of Balancing a Budget & The Economics of Investing in the Stocks
The Economics of Check Writing & The Economics of College
The Economics of Check Writing & The Economics of Investing in Stocks
The Economics of College & The Economics of Saving Money
The Economics of College & The Economics of Investing in Stocks
The Economics of Saving Your Money & Investing in Stocks
Here's even MORE Economics products:
Career Research Packet
Economics Bundle Pack - Stocks, Cost/Benefit, & 2 Invention Projects
Famous Inventors and Their Inventions Presentation
Opportunity Cost and Benefit Packet
The Cause and Effect of the Greatest Events or Inventions from 1950-1999 Project
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FOR 99 DIFFERENT SOCIAL STUDIES ITEMS CHECK OUT THIS BUNDLE!
Social Studies Bundle - 99 Different Products - U.S. History, Geography, & More!