Links to the Newfoundland and Labrador Curriculum Expectations: Language Arts
- 1.1 recognize that contributions from others are needed to generate and sustain discussions
- 1.2 ask questions of others about their ideas
- 1.3 respond to questions to provide clarification and elaboration
- 1.4 express a point of view and support it with personal examples, explanations, or reasoning
- 3.3 recognize that values and attitudes such as bias, beliefs, and prejudice can be reflected in oral language
Brief Overview of the Lesson:
The class is told that a family has just inherited $6,000. The students will be divided into groups and each group will be given different perspectives of what the family members want to do with the inheritance. The groups will create and perform a dialogue between the family members, discussing what the family should do with the money.
Estimated Time Required for Implementation:
Copies of the group scenarios provided, paper and pencils.
Suggested Implementation Strategy:
- Divide the class into groups of four.
- Tell the class that every group member will be assuming the role of a family member, and that this family has just inherited $6,000.
- Ask the class to suggest three things the family can do with the money: Spend, Save, or Give.
- Ask the class how long they think the family will have this money.
- Tell the class that many people run through all their inheritance money in less than 2 years.
- Tell the groups to create a dialogue that the family will have about what to do with the money.
- Each group member will be given a different perspective of what they think should be done with the inheritance.
- Hand out the scenarios, paper and pencils, and allow time to create and practice their skits. Note: There are five scenarios, each one will be performed twice, depending on how many groups are needed.
- Ask each group to perform their skits.
- The teacher assesses how well the students worked in their groups to make up the dialogues and the creativity and performance of the role-playing.
- After the class has viewed the skits, ask them to discuss what they think were the best suggestions of how to use the inheritance. Ask them, now that they have heard many choices of what could be done with the money, what they would choose to do with the money.
Possible Links to the Home Program:
- Money Hungry – Can money buy happiness? – Books – Ages 11-13
- Rocks to Riches – Books – Ages 11-13
Extended Learning Opportunities:
- Ask the students to research types of Savings Accounts, Stock and Bonds, GICs, RRSPs, RESPs and other investment options and report back to the class.
Family 1 Scenario
- Father – wants to put the money towards a car
- Mother – wants to pay off some of their mortgage
- Sister – suggests they go on a holiday
- Brother – wants to buy a big screen TV for the family room
Family 2 Scenario
- Father – wants to invest some money in the stock market and buy some Canada Saving Bonds
- Mother – wants to pay off credit card debts
- Sister – suggests they buy new bedroom furniture
- Brother – thinks they should hire a financial advisor, or put all the money in the bank
Family 3 Scenario
- Father – wants to invest the money in Guarantee Investment Certificates (GICs) at the bank
- Mother – wants to buy a new fridge and stove and go out for lots of dinners
- Sister – thinks they should get a dog
- Brother – thinks they should all get new computers
Family 4 Scenario
- Father – wants to hide the money under the mattress
- Mother – wants to give some to charity and pay off bills with the rest
- Sister – suggests they each have a clothing shopping spree
- Brother – suggests opening up a Registered Education Savings Plans (RESP) at the bank for both him and his sister
Family 5 Scenario
- Father – wants to put the money in a retirement fund
- Mother – wants to give some money to the church and save the rest
- Sister – wants to divide the money equally and let each person use it however they want
- Brother – wants to help a relative who has lost his job