Mindful Millionaires

Suggested Time: 45-60 minutes
Overview
Students will practice math by engaging in real world money problems, role-playing employment and financial planning, and counting real monopoly money!
Vocabulary
Objectives
Next Generation Science Standards
Common Core Mathematical Standards
Required Project Materials
Multimedia Resources
Optional Multimedia Resources
Before the Lesson/ Background Information
Homework from Previous Session:
The Lesson
Part 1: Reading Together (15 mins)
1. Read If You Made a Million with the students.
Part 2: Mindful Millionaire Game (30-45 mins)
  1. Now the students will pretend that they are on Marvelosissimo’s team!
  2. Have the students draw straws. The one who gets the short straw gets to play banker and wear a funny hat! (Alternatively, a student or team of students can volunteer for this role.) The banker keeps watch over the monopoly money and oversees transactions.
  3. Each student will perform (in this case, play-act) a job like in the book (or one of the optional books). They can use items in class, or items you/they brought as props. This activity can also be done outside!
  4. The banker should then pay each student for the completed job. Each one will get a different amount of money (this can be worked out in advance, or determined by lottery). The banker gets paid, too!
  5. Each student should then work out a personal budget for basic living expenses and determine what they will do with any extra money. Will they buy something, or make a long term plan for saving money? If you have a guest accountant, have them guide this part of the lesson.
  6. Work with the students to pursue ideas like philanthropy, investment, savings, entrepreneurship, and/or pooling resources toward a cooperative business.