Financial Literacy: Real-world Math for High Schoolers
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Financial Literacy: Real-world Math for High Schoolers

Grade 9Math10 days
★★★★★
3.0 (1 rating)
This project-based learning experience focuses on teaching 9th-grade students financial literacy through real-world mathematical applications. Students are tasked with managing personal finances, making decisions on car purchases, and understanding debt management using linear and exponential models. Through activities such as creating a monthly budget and analyzing the financial feasibility of car purchases, students apply mathematical principles to craft strategies for effective financial management. The project culminates in the creation of a personal budget and a report on car buying options, enhancing students' skills in mathematical modeling, problem-solving, and financial decision-making.
Financial LiteracyMathematical ModelingBudgetingExponential ModelsDebt ManagementCar Purchase Analysis
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Inquiry Framework

Question Framework

Driving Question

The overarching question that guides the entire project.How can we apply mathematical principles to effectively manage personal finances, including salary management, car purchases, and avoiding debt, while preparing for essential future financial goals?

Essential Questions

Supporting questions that break down major concepts.
  • How can we manage our salary effectively to plan for monthly expenses and savings?
  • What factors should we consider when buying a car to ensure it fits within our financial plan?
  • What strategies can help us avoid accumulating debt while maintaining a good credit score?

Standards & Learning Goals

Learning Goals

By the end of this project, students will be able to:
  • Students will learn to apply mathematical functions to model personal income and expenses.
  • Students will develop skills to compare different financial products, including loans for buying a car.
  • Students will understand and apply exponential and linear models to real-world financial situations like savings growth and debt accumulation.
  • Students will improve problem-solving skills by creating financial plans that integrate salary management and debt avoidance strategies.

Common Core Standards

CCSS.MATH.CONTENT.HSF.IF.B.4
Primary
For a function that models a relationship between two quantities, interpret key features of graphs and tables related to financial contexts.Reason: Understanding functional relationships will help students interpret financial data, like income vs. expenses and loan interest over time.
CCSS.MATH.CONTENT.HSF.LE.A.1
Primary
Distinguish between linear and exponential models and solve problems related to financial growth and savings.Reason: Helps students understand different growth models applied to savings and investments.
CCSS.MATH.CONTENT.HSF.LE.A.4
Secondary
Construct and compare linear and exponential models and solve problems associated with financial interest rates.Reason: Aligns with learning about interest accumulation and loan calculations.
CCSS.MATH.CONTENT.HSA.REI.B.3
Primary
Solve linear equations and inequalities in one variable, including equations with coefficients represented by letters in financial contexts.Reason: To manage and solve financial problems relating to budgets and cost evaluations.

Entry Events

Events that will be used to introduce the project to students

The Price is Right: Classroom Edition

Students participate in a fun game-show format where they guess the prices of various items, calculate sales tax, and explore the impacts of interest rates on loans. This engaging setting provides a concrete application to math concepts and explores consumer education.

Financial Survival Challenge

Kick off with an interactive simulation where students must make decisions about budgeting, saving, and investment in order to 'survive' in a simulated month of adult life. This will immediately engage students by inviting them to solve real financial dilemmas based on their own interests and future aspirations.
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Portfolio Activities

Portfolio Activities

These activities progressively build towards your learning goals, with each submission contributing to the student's final portfolio.
Activity 1

Budget Blueprint

Students create a personal budget using salary and expense data, applying mathematical functions to model income vs. expenditure. This activity helps students understand functional relationships and the impact of financial decisions on their lifestyle.

Steps

Here is some basic scaffolding to help students complete the activity.
1. Research average salaries for entry-level positions in a career of interest.
2. Identify necessary monthly expenses like housing, food, and utilities.
3. Use these inputs to draft a monthly budget plan using a spreadsheet.
4. Apply algebraic functions to balance the budget and predict savings growth over time.

Final Product

What students will submit as the final product of the activityA completed personal budget plan showing income distribution, expenses, and potential savings.

Alignment

How this activity aligns with the learning objectives & standardsCCSS.MATH.CONTENT.HSF.IF.B.4 - Interpret key features of graphs and tables related to financial contexts.
Activity 2

Auto Purchase Analysis

Through an analytical lens, students evaluate different car buying options, including loan rates and payment schedules, using linear and exponential models. This equips them with comparative analysis skills in financial decision-making.

Steps

Here is some basic scaffolding to help students complete the activity.
1. Research several automobile options within a chosen budget range.
2. Gather information on interest rates, loan terms, and payment schedules for each option.
3. Compare costs using linear and exponential functions to model loan repayment over time.
4. Make a reasoned decision on the best vehicle purchase option based on the analysis.

Final Product

What students will submit as the final product of the activityA comparative analysis report highlighting the most financially viable car buying option.

Alignment

How this activity aligns with the learning objectives & standardsCCSS.MATH.CONTENT.HSF.LE.A.1 - Distinguish between linear and exponential models in financial contexts.
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Rubric & Reflection

Portfolio Rubric

Grading criteria for assessing the overall project portfolio

Financial Literacy and Math Application Rubric

Category 1

Mathematical Function Application

Evaluates the student's ability to apply and interpret mathematical functions in the context of financial planning and analysis.
Criterion 1

Functional Relationships

Assessment of the understanding and interpretation of functional relationships in financial data modeling.

Exemplary
4 Points

Demonstrates sophisticated understanding of functional relationships in financial contexts, accurately interprets data, and applies functions innovatively to model income and expenses.

Proficient
3 Points

Demonstrates thorough understanding of functional relationships; accurately interprets data and applies functions to model financial scenarios.

Developing
2 Points

Shows emerging understanding of functional relationships; interprets data inconsistently and sometimes misapplies functions in financial contexts.

Beginning
1 Points

Shows initial understanding with frequent errors in interpreting and applying functional relationships in financial contexts.

Criterion 2

Modeling and Problem Solving

Assesses the student's ability to solve financial problems using mathematical models.

Exemplary
4 Points

Creates innovative models to solve complex financial problems, demonstrating exceptional problem-solving skills and critical thinking.

Proficient
3 Points

Effectively uses models to solve financial problems, showing clear understanding and skillful problem-solving.

Developing
2 Points

Shows basic problem-solving skills using models; solutions may lack accuracy or depth.

Beginning
1 Points

Struggles to develop models for solving financial problems with limited problem-solving ability.

Criterion 3

Comparison and Decision Making

Evaluates the ability to compare financial options and make informed decisions.

Exemplary
4 Points

Demonstrates exceptional ability to compare and analyze financial options, making insightful, well-reasoned decisions.

Proficient
3 Points

Compares financial options effectively and makes well-reasoned, informed decisions.

Developing
2 Points

Shows some ability to compare financial options, but decisions may lack depth or reasoning.

Beginning
1 Points

Difficulty comparing financial options and making informed decisions; reasoning is unclear or missing.

Category 2

Communication and Presentation

Assesses the clarity, organization, and professionalism of the student's final report or presentation.
Criterion 1

Clarity of Communication

Evaluation of how clearly and effectively the student communicates financial concepts and analysis results.

Exemplary
4 Points

Communicates financial concepts with exceptional clarity, precision, and coherence, displaying advanced proficiency in conveying complex ideas.

Proficient
3 Points

Communicates financial concepts clearly and coherently with minor inconsistencies in expression.

Developing
2 Points

Communicates financial concepts with frequent vagueness; ideas may be unclear or poorly organized.

Beginning
1 Points

Has significant difficulty communicating financial concepts; ideas are unclear and poorly conveyed.

Criterion 2

Organization and Professionalism

Assesses the structure and professionalism of the student's portfolio presentation.

Exemplary
4 Points

Demonstrates exceptional organization and professionalism in presentation, with a highly polished and cohesive structure.

Proficient
3 Points

Presents work in an organized and professional manner, though minor details may be unpolished.

Developing
2 Points

Shows some organization; however, professionalism and cohesion are inconsistent.

Beginning
1 Points

Presentation lacks structure and professionalism; work appears disorganized.

Reflection Prompts

End-of-project reflection questions to get students to think about their learning
Question 1

Reflect on how your understanding of linear and exponential models has changed during this project. How has this understanding equipped you to make more informed financial decisions, particularly in contexts like loan repayment and savings growth?

Text
Required
Question 2

On a scale of 1 to 5, how confident do you feel about managing a personal budget, including balancing income against expenses and predicting savings?

Scale
Required
Question 3

What was the most challenging aspect of creating a personal budget and why? How did you overcome this challenge?

Text
Optional
Question 4

Which financial principles or strategies that you learned during this project do you find most applicable to your future financial plans?

Multiple choice
Required
Options
Budget planning
Loan evaluation techniques
Debt avoidance strategies
Savings growth techniques