The Games of Money

While out in the classrooms, teachers are constantly asking how they can enhance their money lessons with a more authentic experience. I tell them simulations, role-playing and games. Games are a fun and easy way to not only express the financial concepts, but a way for the students to act out what it is they are learning about. It's easy to read about paying bills, or take notes on credit cards, but one can only fully understand it once they have experienced it. Here is a list of great games (board games and online games) that can help enhance your lessons on money and achieve the desired levels of comprehension.

Monopoly- Students can buy and sell properties, and collect rent. Monopoly is a great money game for kids learning how to count money and make tough financial decisions. You can either play the classic Monopoly with paper money or the new Monopoly with Electronic Banking. I recommend both!

Life- Students make decisions about money, careers and other life decisions. The decisions made, affect the income received and how money is spent.

Moneywise Kids- Two different games are included in Moneywise Kids, one for making change and the other for budgeting money. Players must account for food, clothing, and housing in the play option focused on money management.

Payday- Students learn how to manage a paycheck, pay bills and still try to have money left over to save and spend!

Online sites with money games:
Piggy Bank-students learn about coin denominations and how to make change
Change Maker- students learn how to make change by doing addition and subtraction
Money Flash Cards- students learn how to add money
H.I.P. Pocket Change- US Mint website with several games and lessons for students on money
It's My Life- students learn how to budget for a month with a set amount of money

Resources:
http://kidmoney.about.com/od/teachingchildren/tp/6-Money-Games-for-Kids.htm
http://www.kidsmoneystore.com/bdgame.htm

More Fun Money Facts

I posted a blog a few weeks ago discussing interesting money facts. I received great feedback from this posting, therefore I decided to share more fun money facts. Who would have thought that learning about money could be almost as fun as spending it?

• During the fiscal year of 2008, the Bureau of Engraving and Printing produced approximately 38 million notes a day with a face value of approximately $629 million.
• If you had 10 billion $1 bills and spent one every second of every day, it would take 317 years before you went broke.
• A stack of currency one mile high would contain over 14½ million notes.
• You can double fold a note 4,000 times before it will tear.
• Contrary to popular belief, the automobile pictured on the back of the $10 bill is not a Model "T" Ford. It is a creation of the designer of the bill.
• All 50 states are listed across the top of the Lincoln Memorial on the back of a $5 bill.
• There is more Monopoly money printed in a year, than real money printed throughout the world. The amount of money in a Monopoly game is $15,140.
• There are 293 ways to make change for a dollar.
• Nine thousand years ago, people used cows for money!
• The words "The United States of America" appears on the $100 note 12 times
• 3 in every 10,000 US bills is counterfeit.

References:

http://www.moneyfactory.gov/document.cfm/18/106

http://www.delraycc.com/InterestingMoney/12MoreAmazingMoneyFacts/tabid/183/Default.aspx

http://www.happyworker.com/magazine/facts/weird-and-wonderful-money-facts

10 Technologies That Will Soon be Extinct

Technology is all around us, and it continually evolves and becomes more sophisticated. We use technology in almost everything we do; computers, iPods, cell phones, GPS etc. Technology is used at home, work, in the car and at school. However just like anything else, some technology comes and goes with the time. According to FOX News, here are the top 10 technologies that will soon disappear:

1. Landline phones- Cell phone plans with unlimited calling and text messaging quickly replaced the land lines that once occupied every home
2. Floppy disks- Flash drives and CDs are more compact and easily accessible and therefore, more popular. In fact, most newer computers don't even have a floppy disk drive.
3. Wrist watches- While watches can be fashionable, most cell phones and iPods can tell you the time and date.
4. VHS tapes and VCRs-Today people rely on DVDs, Blue Ray discs and even TiVo to supplement their entertainment needs.
5. Beepers-Most beepers took a hike when cell phones hit their peak.
6. Film cameras- Digital cameras have conveniently replaced film cameras due to the fact that you can view photos taken, upload them to your PC, and print them from your own home.
7. Typewriters- Laptops and computers are a much easier route to type a report, letter or compile data.
8. The Walkman and Discman- The introduction of MP3 Players and iPods in the early 2000's quickly decreased the sales and production of the Walkman and Discman
9. Dial-up internet- High speed, high speed, high speed
10. DVD's- This one actually surprised me but according to the article companies like Netflix are now sending movies right to your computer!

Resources:
http://www.foxnews.com/story/0,2933,515647,00.html

http://www.indianamuseum.org/uploads/images/collection/sh_slay_typewriter.jpg

How Coins are Made

When out in the classrooms, I am constantly being asked how coins are made. Therefore, I have decided to educate not only myself, but you as well, just in case your students ask you how coins are made.

Step 1- Blanking
The U.S. Mint purchases strips of metal 13 inches wide and 1,500 feet long used to process the coins. The strips come rolled in a coil. Each coil is fed through a blanking press, which punches out round discs called blanks. The leftover strip is then recycled.

Step 2-Annealing, Washing & Drying
The blanks are heated in an annealing furnace in order to soften them. They are then run through a washer and dryer.

Step 3- Riddling
The newly washed blanks are sorted on a riddler to screen out any that are the wrong size or shape.

Step 4- Upsetting
The good blanks then go through an upsetting mill. This raises a rim around the blanks edges.

Step 5- Striking
Finally, the blanks head to the coining press. Here, they are stamped with the designs and inscriptions, which make them genuine United States coins.

Step 6- Inspection
A press operator uses a magnifying glass to spot-check each batch of new coins. Then all the coins go through a coin sizer to remove any misshaped or dented coins.

Step 7-Counting & Bagging
An automatic counting machine counts the coins and drops them into large canvas bags. The bags are sewn shut, loaded on pallets, and taken by forklifts to be stored in vaults. New coins are shipped by truck to Federal Reserve Banks. From there, the coins go to your local financial institution.

For more information please visit the US Mint website.

College Saving Tips

Your college years can be an expensive time in your life. There is the tuition that seems to increase each year, the cost of books, living accomodations, food and for most college students the trips back home. Here are some tips to save money while in college so that you can make the most of your dollar during these hard economic times.

1. Join a Credit Union, they usually pay higher dividend rates and less in fees.
2. Do not get a credit card unless you absolutely need one. If you have one, use it for emergencies only.
3. Pay your bills on time, late fees add up.
4. Make a budget and stick to it.
5. Save your receipts in order to compare to your account statements monthly.
6. Buy used textbooks (Amazon and half.com have competitive prices) and sell them back after the semester is over!
7. Ride a bike or walk.
8. Learn how to cook.
9. Apply for ALL scholarships and grants.
10. Take advantage of student discounts, several places around town give discounts to college students.
11. Get a meal plan.
12. Go out once a week instead of every night.
13. Get a part-time job.
14. If you live off campus, get a roommate.
15. Buy a coffee maker, those everyday Starbucks drinks really add up!
16. Subscribe to rental places such as Blockbuster or Netflix.
17. Skip the Spring Break trip, relax at home instead.
18. Use coupons when buying food and buy in bulk (Costco is a great place to grocery shop affordably).
19. Use the on-campus gym.
20. Continue saving money!

Here are some links with additional information
Amazon- an online resource for purchasing new and used textbooks
Half.com- an online resource for purchasing new and used textbooks
FAFSA- a government website used to apply for financial aid
Netflix- website that provides unlimited movie rentals at an affordable monthly fee



Resources:
http://www.getrichslowly.org/blog/2006/08/30/27-money-tips-for-college-students/
http://www.thinkyourwaytowealth.com/2008/08/22/25-smart-budget-and-money-saving-tips-for-college-students/
http://www.collegescholarships.org/student-living/save-money.htm

Children's Books on Money

Money is an important aspect of our lives. Beginning in first grade, school children are taught the importance of money, denominations, economics and credit. While money can be a hard topic to teach in a relatable manner, there are several fun and educational books that you as educators can read as the basis for mini-lessons. A few of my favorites include Just Shopping with Mom by Mercer Mayer, The Coin Counting Book by Rozanne Lanczak Williams, Pigs Will be Pigs by Amy Axelrod,Trouble with Money by Jan and Stan Berenstain and King Midas by Nathaniel Hawthorne.

Please enjoy the following links that list hundreds of fun and educational books that discuss economics and finances:

http://tennesseesaves.org/TeachingTools/TeachingKidsMoney/MoneyonBookshelf/childrenbooksmoney.pdf

http://www.kidsmoneystore.com/kdbk48.htm

http://www.unce.unr.edu/programs/sites/moneybookshelf/books/

About a month ago I said that I would post monthly pictures of the thank-you cards that I receive from the different schools I visit. One of the first teachers to ever invite me into her classroom was Ms. Stein at Gridley Middle School. I have taught several lessons in her classroom over the past two years. Her students are always hospitable and respectful. Please enjoy some of the thank-you cards that I received from her classroom. Thank you!