- Study data charts
- Conduct two small studies to discover more about spending habits
- Money Confident Kids Student Magazine printable
- “What the Average Teen Buys” Chart on page 3
- “Spending Now” Article on page 2
- Money Confident Kids Teacher’s Edition printable
- “The Power of Advertising” Worksheet on page 8
- Make a class set of the Money Confident Kids Student Magazine printable if you haven’t already.
- Make a class set of “The Power of Advertising” worksheet on page 8 of the Money Confident Kids Teacher’s Edition printable.
Step 1: Ask students to privately write down the answers to the following questions:
- What was the last item you bought with your own money?
- Did you plan to buy it, or did you make the decision on the spot?
Step 2: Ask students to study the chart titled “What the Average Teen Buys” on page 3 of the Money Confident Kids Student Magazine printable. Have students discuss in pairs whether they agree or disagree with the percentages in the chart.
Research Experiment A
Step 1: Challenge students to keep track of their food spending over the next week. Draw the following chart on the board and ask students to copy it onto a sheet of paper that they will keep with them for the next seven days. (Students can track their spending using a smartphone or other electronic device if you prefer.) Share these research parameters:
- Only track food and drink that you buy outside of your home.
- List each individual food, not just a daily total (i.e., chips: $1.50; energy drink: $3.50).
Note: Be aware of economic differences and ask students to keep their charts private.
Step 2: After the results are in, ask students the following questions:
- Did the amount you spent surprise you?
- Is it realistic to think that you’ll never buy food outside of your house?
- If not, could you do it some of the time?
Research Experiment B
Step 1: Have students read the “Spending Now” article on page 2 of the Money Confident Kids Student Magazine.
Step 2: Distribute copies of “The Power of Advertising” Worksheet (from the Money Confident Kids Teacher’s Edition printable) to each student. Explain that they are going to be doing some simple observational research. Ask students to sit in a shopping area (grocery store, mall store, etc.) for 10 minutes and observe the shoppers around them while completing the worksheet.
Step 3: After students have completed their observation assignment, come together as a class and discuss students’ observations. Ask whether those observations will have an impact on the way that they will shop in the future.
Supporting All Learners
Select only one of the research experiments to perform and set a shorter time frame.
Ask students to create a chart that describes the results of Research Experiment B.
Can students apply what they have learned to their personal spending?
Common Core Key Standards: RH.6–8.7, RI.6.7, W.6.7