The Value of Money

Sandy Sawatzky Jennifer Bird

School Counselor MSU Intern 2002-2003

Maple River West Middle & Elementary Maple River West

Amboy, MN & Good Thunder, MN Amboy, MN & Good Thunder, MN

Description of the Lesson

The following classroom guidance lesson was developed at Maple River West Middle School by Sandy Sawatzky (Professional School Counselor). This lesson is designed to help middle-school-aged students understand the value of money and how much specific items cost.

Purpose: To look at money in a different way.

Learner Outcomes:

Students will be able to identify several different meanings for the word “rich.”

Students will estimate the cost of the clothes they are wearing.

Students will identify those items that would be the first to give up if their family made $100-$300 per year.

Students will identify those items that would be the last to give up if their family made $100-$300 per year.

Materials:

Piece of paper for each student.

Writing Utensil for each student.

Chalkboard or Dry Erase Board.

Introduction:

The counselor will pose the question, “what is the definition of rich?” After several answers are given, the counselor will pose more questions: “How much money is a lot of money?” “How much money would it take to make you feel rich?” “Do you think our society places a high value on money or material possessions that can be bought with money?” “What role does this value play in our actions?”

Activity:

The counselor then instructs each student to make a list of the items they are wearing that day. Students should include braces, glasses, socks, shirts, pants, hair ties, etc. After creating their lists, students are asked to estimate the cost of each item on their list. Then the students add the list to get a total cost for the items they are wearing. If it is a smaller class, write each person’s grand total on the board – if it is a larger class, ask for volunteers to share their total. This can be a tough disclosure for some students, so be sure to only do this with a group that is more comfortable with each other. It is also important to emphasize that this is not a competition between each other’s total costs. This activity can also be done without the students sharing their totals and still be effective.

Closure:

The counselor explains that $100-$300 is a typical average yearly income for many families in other parts of the world. Tell the students that this means that is the total money that the family earns that can be used to buy food, clothes, and shelter for the entire family in one year. Have the students look at their lists and decide which items would be the first items they would give up if their families suddenly made $100-$300 per year. Have the students share what they would give up. Then have the students decide what would be the last item they would want to give up if their families made $100-$300 per year. Have the students share this item. Continue to discuss: “how important are the things we buy?” “What kinds of things can money not buy?” “Can a person be rich without having a lot of money?” “What makes you rich?”

Connections to Related Standards, Competencies, and Domains:

This lesson is reflective of the Personal/Social domain of the Minnesota School Counselor’s Model of Developmental Guidance and Counseling. This lesson gives students the opportunity to look at money and its role in the students’ lives. It also shows students the role money can play in an individual’s actions.

References and Resources:

Jackson, T. (1995). More Activities that Teach. Red Rock Publishing.