The focus of this standard is on income that people earn or receive. Standards investigate the different kinds of jobs people can get. In addition, standards investigate other income issues, such as: entrepreneurship, paying taxes, and earning income by renting property. Piggy Bank Primer: Saving and Budgeting or order free class sets from the Federal Reserve.
Great Minds Think: A Kid's Guide to Money Learning about Earning 1) Earning Money:
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EARNING INCOME STANDARDS
SS.4.FL.1.1 People have many different types of jobs from which to choose. Identify different jobs requiring people to have different skills. SS.4.FL.1.2 People earn an income when they are hired by an employer to work at a job. Explain why employers are willing to pay people to do their work. SS.4.FL.1.3 Workers are paid for their labor in different ways such as wages, salaries, or commissions. Explain the ways in which workers are paid. SS.4.FL.1.4 People can earn interest income from letting other people borrow their money. Explain why banks and financial institutions pay people interest when they deposit their money at those institutions. SS.4.FL.1.5 People can earn income by renting their property to other people. Identify different types of property (such as apartments, automobiles, or tools) that people own and on which rent is paid. SS.4.FL.1.6 Describe ways that people who own a business can earn a profit, which is a source of income. SS.4.FL.1.7 Entrepreneurs are people who start new businesses. Entrepreneurs do not know if their new businesses will be successful and earn a profit. Identify ways in which starting a business is risky for entrepreneurs. SS.4.FL.1.8 Income earned from working and most other sources of income are taxed. Describe ways that the revenue from these taxes is used to pay for government provided goods and services. |
Decisonomics Activities for Earning Income
DECISION-MAKING ACTIVITY #1: What do I want to do when I grow up?
Planning and Goal Setting: Students investigate a variety of career options. To make an informed decision, students need to gather information about possible jobs or careers. In this activity, students investigate the following websites and choose three possible careers and answer the following questions: 1) Why do you find this job interesting?; 2) What does the worker do?; 3) What is the wage or salary?; 4) What skills are required?; and, 5) What is the education/training required?
Making the Decision: With that information, weigh the costs and benefits of the particular career choices using a PACED Decision-making grid.
Assessing Outcomes: After students make a decision, they still must decide if they are satisfied with their choice.
Look at the choices you made. Consider the education and skills you will need. Think about the salary. What job would you choose? Explain why you chose that job. At this point, more inquiry or decision-making ideas can evolve:
Planning and Goal Setting: To teach about entrepreneurs, watch the Secret Millionaire's Club Webisodes: Lemons to Lemonade and Walking the Dog.
Assessing Outcomes: After completing both activities, would you rather become an entrepreneur and start your own business or would you rather work for someone else? Students could use the ReadWriteThink persuasion map to make an argument for one side.
Additional Lesson Plans:
Do I Look Like I'm Made of Money: introduction to money and income.
Hey, Get a Job!
I Can Be an Entrepreneur
Spotlighting Entrepreneurs: A Technology "iCon"
Tic Tac Taxes!
Planning and Goal Setting: Students investigate a variety of career options. To make an informed decision, students need to gather information about possible jobs or careers. In this activity, students investigate the following websites and choose three possible careers and answer the following questions: 1) Why do you find this job interesting?; 2) What does the worker do?; 3) What is the wage or salary?; 4) What skills are required?; and, 5) What is the education/training required?
Making the Decision: With that information, weigh the costs and benefits of the particular career choices using a PACED Decision-making grid.
Assessing Outcomes: After students make a decision, they still must decide if they are satisfied with their choice.
Look at the choices you made. Consider the education and skills you will need. Think about the salary. What job would you choose? Explain why you chose that job. At this point, more inquiry or decision-making ideas can evolve:
- Pick five jobs and record the different kind of skills required for the jobs. How do you prepare for the jobs?
- Investigate three of the jobs and the required skills. Why do you think employers are willing to pay people to do the work?
Planning and Goal Setting: To teach about entrepreneurs, watch the Secret Millionaire's Club Webisodes: Lemons to Lemonade and Walking the Dog.
- Students should understand that people who start businesses are called entrepreneurs. What are some of the risks?
- How do entrepreneurs earn money?
Assessing Outcomes: After completing both activities, would you rather become an entrepreneur and start your own business or would you rather work for someone else? Students could use the ReadWriteThink persuasion map to make an argument for one side.
Additional Lesson Plans:
Do I Look Like I'm Made of Money: introduction to money and income.
Hey, Get a Job!
I Can Be an Entrepreneur
Spotlighting Entrepreneurs: A Technology "iCon"
Tic Tac Taxes!