Hidden Cost Challenge | Maths

LI: To make smart choices with money

                         

This week Kruse, Kingston and I worked together to solve this ASB 'Hidden Cost Challenge'. We created a DLO to show our thinking on how we got the answers. In this activity there were 4 questions we needed to solve, we used the scenario of a girl named Emily who wanted to do some online shopping but she had a budget of $250. We had to solve the different prices and options Emily should've chosen to save money and use money within her budget. For this activity the most efficient strategy we used was addition. 

ASB getwise | Money clever

 LI: to make wise choices with money. 

Today we had Marlon come from ASB bank to explain to us how we should be smart with our money. We played a little activity to help us understand why it is important to use money wisely and how to use money wisely. In this activity we had to imagine that we were going on a trip to Fiji. In groups of 4-5 we all had $1800 each to spend. As a group we were known as one person. 

Our first decision was the Passport fee. We had two options whether we wanted to pay now for $200 or later for an unknown price (higher amount). We all chose the first option, which would leave us with $1600 cash. We then decided how much we wanted to pay for our flight, we could either choose the economy flight for $500 (low rate service, no comfortable seatings etc) +2 points of enjoyment or the first class flight for $800. We chose the economy flight, which left us with $1100. Next we were looking at the Accomodation. There were 2 options, a 5 star resort by the Ocean + $100 paying for all food (breakfast, lunch and dinner), or, a budget hotel with bad service for $200. We chose the 5 star resort for $500 with $100 bonus to pay off all food services. Next we were deciding whether or not we should pay for travel insurance for $300. We chose to get insurance because you never know what could happen and how much the expenses would be. Lastly we were looking at the prices for the activities. We chose the $200 activity for snorkelling. 

Next we found out that we had been food poisoned so we were rushed to the hospital. The fee was $2000, but since we had insurance, the insurance would pay us off.

In this session we learnt that we should spend our money wisely and be clever with how we are using it. 

ASB Getwise Session

LI: To learn how to save money.

Jayden from ASB get wise came to our school to teach us about saving money. He came to talk to us about CASH goals. He taught that if you want to buy something make it realistic for you age. For example, if you want to by a car when your yr 4-5 you should keep it realistic so by something you can actually get. We learnt that if you want to by something you have to be clear, if you want to buy some shoes you need to keep it clear, what size, what colour, the price, and more. Keeping it clear is like making sure you get what you really want. To do that you have to take action. Get a job for yr 4-5. You could sell stuff like your old clothes or stuff you don't own like making pies, food and selling more, you could also do neighbourhood jobs like help cleaning the gardens.   When you get the money you need you save for the future to get more money by taking action. When you save you have to know how long it will take until you reach your goal to buy those shoes. So if you get 10 a week and you spend no money and your shoes are 100 dollars it will be 10 weeks until you have reached your goal. That is CASH goals.