-NiE ,
Financially savvy
THE barter system eventually gave way to a more systematic form of finance which was started in 600BC by King Alyattes of Lydia (presently western Turkey). He was the first king to mint coins and use it as an official currency in his country. However, around the same time, China created paper, which then
Activity Critical thinking
Creative thinking
Based on your understanding of the two words above, write down your definition for the phrase “financially savvy”.
● Connect
Problem solving
Being financially savvy means _________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________
● Present
Communicating ● Written
NiE Activity 1
● Identify ● Reason
● Organise
Problem solving ● Research ● Recreate
● Present
Creative thinking ● Imagine
● Connect
Communicating ● Oral ● Aural ● Non-verbal
Collaborating ● Listen ● Attain goal ● Contribute respectfully
Imagine that next month is your parents’ wedding anniversary. You and your sister have saved RM100 to celebrate this special day. However, the amount may not be enough to cover all the items both of you have planned. Using information from The Star, work out the details for the items planned and the budget needed to carry them out. Then, decide on the final items that you can afford. You may choose to either: 1. Cook a meal for your parents or take them out to a restaurant 2. Buy them a gift or get them a spa package 3. Watch a movie or concert together as a family In groups of four, do this activity on a sheet of A4 paper. Cut out pictures from The Star and paste them on your planner to make it more attractive. Then, present it in class. As a class, vote for the most realistic planner for the celebration.
MUM AND DAD’S WEDDING ANNIVERSARY (BUDGET RM100) Items planned
Eat out at a restaurant Place: _________________________ Dishes to order: ___________________ Cost: RM_____
1. Cook a meal Menu: _______________________ Ingredients to buy: ________________ Cost: RM_____
or
2. Buy them a gift Gift choice: _____________________ Card/Wrapping paper: ______________ Cost: RM_____
or
Get them a spa package Place: __________________________ Type of package: ___________________ Cost: RM____
or
Watch a concert Place: __________________________ Concert choice: _____________________ Cost: RM_____
3. Watch a movie Place: _______________________ Movie choice: ___________________ Cost: RM_____
Final decision 1. 2. 3.
Total cost: RM_____
EXAMPLE Date: Day
resulted in the invention of paper money and the rest is history. Undoubtedly, in this era, money is an extremely important aspect of our society. It leads to a whole new world of commerce – buying, selling and investing – which requires us to be financially savvy.
With a friend, discuss the meanings of these words. i) Finance: ______________________________________________ ii) Savvy: _______________________________________________
● Identify
Critical thinking
NiE Activity 2 Critical thinking
Creative thinking
Problem solving
● Identify ● Measure ● Organise
● Connect
● Recreate ● Present
Communicating ● Oral ● Non-verbal
Read the passage below. Then, do the activity that follows.
Motion graphics designer Shan Vellu has a unique way of keeping track of his spending. At the end of each day, he jots down every ringgit he spends. At the end of each year (since 2011), he then maps out all the money he has spent on an infographic. It allows him to not only understand how he spends his money, but also to have a rough idea of how his spending has changed over the years. Not just that, it helps him to be more aware of his needs and wants, and to be able to differentiate between a necessity and luxury spending. Shan said you obviously don’t need to be a graphic designer. If you’re really up for it, all you need are a pen and a paper to draw it out – and a lot of discipline. “I once read that if you want to buy something, you should make sure that you have at least five times of that amount in your savings. It’s a good idea when it comes to large purchases,” said Shan. – Adapted from On the right financial track, Star2, Feb 4, 2014
Do you know how much you spend in a week, and where your money goes to? Record your spending in the table below. Then, design a pie chart to show the information more clearly. When you’re done, compare your pie chart with your friends. Who has done the most spending?
Spending
Sun Mon Tues Wed Thurs Fri Sat
3
Budgeting made easy
Elementary
● Research ● Recreate
5 JULY 2017
Weekly allowance: Weekly spending: RM____ How much do have at the end of the week? RM____