Money Management

In the Life Transitions 30 Curriculum, there is a unit on Money Management. The purpose of this unit is for students to acknowledge the value of money management in their lives. Students will recognize that effective money management skills will help them meet personal goals. The site that I thought would be great for students to understand money management is Lemonade Stand. This purpose of this site is for students to go on and make their own lemonade stand and try to sell as much lemonade as they can. You start out with $20 and you have to buy all of your materials and price them out, for you to make the most profit you can. You have to go and buy paper cups, lemons, sugar, and ice cubes. Each day that goes by it shows you how much lemonade you have sold and your customer’s satisfaction.

To use this site in my classroom I would have the students go on and make there own lemonade stand and figure out how they can sell lemonade and make a good profit. The students will learn how to manage their money, buy buying the right materials to allow them to sell the most lemonade. I would have to students do this for 20 days and see how much money they are left with and how much they made or lost. While they are sell their lemonade, I would have them keep track on paper what things they have done to sell lemonade for each day. Things such as how many lemons they put in a cup each time or how much sugar and ice cubes they used and how much they charged the customer each time. I would have my students hand in that paper and then I would make the students write me a 2 page paper about how they thought they managed their money. Writing about what they thought they could have done to sell more lemonade and mange their money in a better way.

This is a great interactive site to teach students about proper money management. It allows the students to learn about money management in a fun way. It also shows students what it would be like to own their own business. I would definitely use this site in my classroom for my students to understand what it takes to manage their money.