Grade: 2 Lesson 9

What are two of the most common types of bank accounts? What are the benefits of each?

SS.4.FL.3.3 Identify ways that people can choose to save money in many places.

SS.4.FL.3.5 People also deposit money into banks because banks are safe places to keep their savings.

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Correlated Literacy Standards:LAFS.2.RL.3.7 Use information gained from the illustrations and words in print or digital text to demonstrate understanding of its characters, setting, or plot.

SS.4.FL.3.3 Identify ways that people can choose to save money in many places. SS.4.FL.3.5 People also deposit money into banks because banks are safe places to keep their savings.

All About Banking

Lesson Number: 9

Correlated Florida Standards (See Full Text on Cover Page) LAFS.2.RL.3.7

Essential Question What are two of the most common type of bank accounts? How do each work?

Learning Goals/ObjectivesStudents will:

Describe the differences between checking and savings accounts Explain how to open a checking account Demonstrate how to fill out a check, withdrawal and deposit slips Demonstrate how to use an ATM

Overview Students will explore banking. Through role playing, they will learn how to open a savings account,

deposit or withdraw money from an account, and how to use an ATM machine.

Materials PowerPoint Presentation: Grade 2 Lesson 9 – All About Banking (Included in Lesson 9 File) Handouts: Role Plays (included within lesson plan)

Time 30 min.

Activity SequenceINTRODUCTION/HOOKDiscuss PowerPoint slides 2. (2 minutes)

Do: Have students share what they know about banking.

ACTIVITY1. Discuss PowerPoint slides 3-8 (8 minutes)

Say: A bank is a safe place to keep your money. There are different types of accounts you can have at a bank. Two of the most common are savings accounts and checking accounts.

Say: Saving your money at the bank is better than a piggy bank. Not only is it safer, but banks pay you interest on a percentage of the money you keep in your savings account. No piggy bank does that!

Do: Have students analyze the dialogue text on slide 5 and explain its main idea. Say: Your parents have bills at the end of the month they must pay, like the electric bill and

phone bill. For many years, most adults would mail a handwritten check. The person or business receiving the check would then go to the bank to either cash or deposit that money into their account.

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Say: Today most adults do their banking electronically. They are able to use their bank accounts to pay their bills on their computers and mobile devices over the internet. No one has to set foot into a bank to access their money. Banking is more convenient than ever.

Say: Banks provide customers with debit cards that can be used to pay at stores or withdraw money at ATMs. ATM is short for Automated Teller Machine - another convenience of modern banking.

Say: Though writing checks is not as popular today as it was years ago, you still should know how to write a check. There are instances when you will find yourself with no other option but to write a check and do your banking in person, the old fashioned way.

Do: Have students analyze dialogue bubble and summarize its main idea. Do: Explain the parts of a personal check illustrated on slide 10 and the parts of a

deposit/withdrawal slip illustrated on slide 11. Remind students that an endorsed check is as good as cash.

2. Discuss PowerPoint slide 12 (25 minutes) Say: Let’s practice creating our own pet care budget. Consider the long term costs of caring

for your pet and how much allowance money will you need to pay for the monthly care of this pet.

Do: Group students and distribute role play handouts to students. Select students to perform the four role plays to the entire class: opening a bank account, paying with a check, depositing money into an account, and using an automated teller machine.

CLOSURE (3 minutes)Do: Have students revisit essential question. Encourage them to share what they have learned regarding banking.

OPTIONAL EXTENSION SUGGESTIONs/HOME LEARNING Implement a classroom management system which utilizes checks. Encourage students to document

the amounts they earn in a check register and write checks to redeem rewards.

Have students observe their parents completing a banking transaction (either by banking in person or banking online). Have them write a paragraph explaining the entire process from start to finish.

Contact a local bank and obtain informational flyers or brochures to share with students. Read and discuss in class.

Have students write a friendly letter to their parents explaining why they want to open a savings account at the bank.

Lesson Plan & Activity: http://www.usmint.gov/kids/teachers/lessonPlans/viewLP.cfm?ID=35Read Judith Viorst's book, “Alexander, Who Used to Be Rich Last Sunday” to the class and use several computation techniques to calculate how Alexander spends all of his money in no time at all.

Lesson Plan & Activity: https://www.practicalmoneyskills.com/foreducators/lesson_plans/lev_2/2_comp.pdfMoney choices are sometimes difficult. Have students read and analyze money responsibility situation cards and explain what they would do in each scenario.

Sources/Bibliographic Information that contributed to this lesson:Lesson adapted from: Money Basics Websitehttp://www.gcflearnfree.org/moneybasics/6.2 Lesson adapted from: Money as you Grow Websitehttp://moneyasyougrow.org/

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Opening a Bank Account Role Play

CHARACTERSBank Clerk

Sue WilliamsRobert Williams

Bank Clerk: Good afternoon Mr. and Mrs. Williams. How can we help you today?

Sue Williams: We’d like to open a personal checking account today.

Bank Clerk: I’ll be happy to help you with that. Will you be opening a joint account that is an account that both of you have access to?

Robert Williams: Yes, my wife and I will be sharing this account, so a joint account would be perfect for us.

Bank Clerk: Alright, I’ll need one of you to fill out these forms. I’ll also need both of your driver’s license and photo ID’s. (hand forms to Mr. Williams to fill out)

Robert Williams: (pretending to fill out forms)

Sue Williams: (asks bank clerk) Are there any fees for your checking accounts?

Bank Clerk: There are no monthly fees to have a checking account with us just as long as you maintain a minimum balance of $100 in your account.

Sue Williams: Perfect! How about checks and a debit card?

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Bank Clerk: Yes, each of you will be getting your own debit card to take home with you today and we’ll be sending a box of checks in the mail. How much will you be depositing into your account today?

Robert Williams: We’d like to open our checking account with $500.

Bank Clerk: (pretend to count money) Excellent, I have deposited your money. Here are your debit cards. Each of you think of a four digit number you would like to assign as your PIN. Remember your pin is the password you will use if you’d like to use your debit card to pay or withdraw money at the atm.

Mr. & Mrs. Williams: (pretend to type pin into a keypad)

Bank Clerk: Is there anything else I can help you with today?

Sue Williams: No, thank you for your help today.

Bank Clerk: It was my pleasure. Take my business card, if you have any further questions, feel free to call me at this number.

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Paying with a Check Role Play

CHARACTERSKatie (child)

Robert (adult)Cashier

Katie: So what did we agree to bring to the party?

Robert: Cake, soda, and chips. (pretend to be shopping)

Katie: I think we’re ready to go pay. Look no line in Register 2. Let’s go.

Cashier: Good afternoon. Just wanted to let you know that our credit card machine is not working today.

Robert & Katie: (pretends to check wallet for cash) Oh no!

Katie: Robert I didn’t bring cash, did you?

Robert: Um, I don’t have cash either, but I do I have a check.

Cashier: We accept cash and personal checks.

Katie: Pfew! Great thinking Robert!

Robert: Why thanks!

Cashier: (scans items) Your total is $27.50.

Robert: Okay Katie, watch and learn how you write a check. First you write the date and the name of the store in the “Pay to the Order of” line.

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Katie: Then you write the amount underneath that line. You write the number and write out the word, “twenty-seven dollars and fifty cents”.

Cashier: Very good, guess you’ve seen your parents write checks before.

Robert: Yes she has. What’ the very last thing you need to do to your check?

Katie: You need to sign it at the bottom.

Cashier: That’s right!

Robert: Very soon, little Katie will be writing her very own checks.

Katie: Actually Dad, I prefer to use my own debit card instead.

Robert & Cashier: (giggle and hand the groceries to Katie)

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Depositing Money into an Account Role Play

CHARACTERSKevin

AndrewBank Teller

Bank Teller: Good afternoon, how can I help you today?

Kevin: I’d like to deposit some birthday money into my savings account.

Bank Teller: I’m glad to help you with that. Have you filled out your deposit slip?

Kevin: Oops! I completely forgot.

Bank Teller: (hands Kevin a deposit slip) Please fill this out and let me know when you are ready.

Kevin: (walks away and pretends to fill out deposit slip) Can I help the next customer.

Andrew: Hello, here is my withdrawal slip.

Bank Teller: Thank you Andrew. Can I please see your identification?

Andrew: (hands ID card to the teller)

Bank Teller: How would you like your bills?

Andrew: I’d like two twenties and a ten dollar bill please.

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Bank Teller: Sure, please give me a moment. Twenty, forty, and fifty. Have a nice day.

Kevin: I’m back. Here’s my deposit slip.

Bank Teller: Thank you very much Kevin. I have deposited your money into your savings account. Here’s a copy of your receipt for your records.

Kevin: (looks at receipt) Yay! I almost have enough

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Using an ATM Account Role Play

CHARACTERSMs. Gomez

BriannaMike

Alyssa

Ms. Gomez: I hope you have enjoyed today’s tour of the bank class. What was your favorite part of the field trip?

Alyssa: I loved going inside the vault.

Brianna: I really liked the machine that counts the money.

Mike: Ms. Gomez, how about the ATM machine?

Ms. Gomez: That’s right, I almost forgot. Remember we are only practicing how to use the ATM, we cannot keep any of the money.

Brianna: Ms. Gomez can I go first?

Ms. Gomez: Sure Brianna, here’s your debit card and PIN.

Ms. Gomez: You are going to withdraw $40 from your account. Alyssa and Mike will take turns describing the steps for you.

Brianna: (pretend to be using an ATM machine).

Alyssa: The first step is to insert your debit card into the machine facing the same direction as the picture.

Mike: Next you need to enter your PIN. Remember not to share your PIN with anyone.

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Alyssa: Now follow the onscreen instructions. Do you want to deposit or withdraw money?

Brianna: I want to take out $40 from my checking account so I should select the “withdrawal” option.

Mike: The machine will ask to see if you would like to complete another transaction. In Brianna’s case, she only wants to withdraw $40 from her account.

Brianna: This is my favorite part. I get to take my money and keep the receipt for my records.

Alyssa: Don’t forget to remove your debit card!

Ms. Gomez: Very good class. I’m so happy to see you were paying attention during today’s field trip.

Mike: Using an ATM is real easy.

Alyssa: ...and convenient.

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