Handling money can be very difficult- especially when we are always so tempted to spend it! Therefore, a strong background in savings is necessary to assure a comfortable lifestyle in the future. Our students have been studying banking for quite a while now in CBI. We have expanded on our consumer math knowledge to the community and are learning to becoming an integral part of the economic society. We will be continuing our money studies throughout the year, but as for now, we have accomplished the following:
- We created in-class bank accounts that hold anywhere between $0-$20 at a time. Students must fill out deposit slips in order to deposit money into the boxes, fill out withdrawal slips in order to withdraw money, fill out checks and balance a bankbook. I serve as the banker and keep their money safe and hidden during the school day. We use the money in these accounts when we go out into the community. Sometimes the students want to buy something from some of our experiences, and these funds allow them to do so.
- We collected various deposit and withdrawal slips from the surrounding banks in Highland Park. The students examined the commonalities of the slips and what may change on them. For example, the name of the bank is different on the PNC deposit slip versus the Wells Fargo slip, yet there is a spot for the date on both. This allowed the students to see what is important on these papers and what they should be familiar with.
- We were lucky enough to be able to get a personal tour and question/answer session from a manager at Wells Fargo! The students were able to ask any and all questions to the manager as well as collect some examples of some bank forms. This presentation really cleared up why banking is important and how it can help you save money.
- We have handled this money in the community at three different places! The students are limited as to what they can buy, as they must not exceed their given budget!