Ntss classroom slides
- 1. SECONDARY 3 NT SOCIAL STUDIES Overarching Essential Question Why is it important to manage our financial resources well?
- 2. What does it mean to be financially literate or ‘money smart’? http://cdn2.business2community.com/wp-content/uploads/2013/05/Wave-Goodbye-to-the-Worries-of-Earning-Extra-Money-Online.jpg https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSfb7rfm91vVIijhpa5obcGfDIRkFR2gAoybQkLlBuIVDYB4l99DA LESSON 1
- 3. Groups Task: Draw a labelled picture of 1 A ‘money smart’ adult 2 A ‘money smart’ teenager 3 An adult who is not clever with money management 4 A teenager who is not clever with money management. Activity 1
- 4. Activity 2 : Gallery Walk https://ruminatingonthecore.edublogs.org/files/2015/03/gallery-walk-1v0b2s3.jpg Stand next to your ‘exhibit’. When the whistle/bell goes, walk together with your group members to the next station to view the ‘exhibit’ there. Move again when the whistle/bell goes.
- 5. A world of credit and deferred (postponed) payments Why we need to be ‘money smart’ http://savemoney.my/wp-content/uploads/2012/04/lots-of-credit-cards-3.jpg
- 6. A world of consumerism: Buy! Buy! Buy! http://onlineadipex.org/wp-content/uploads/2013/02/BuyNowButtonRed.jpg http://runthelongroadcoaching.com/wp-content/uploads/2014/04/Colored-Sale-Tags-2.jpg http://cdn1.tnwcdn.com/files/2010/03/logo.png Why we need to be ‘money smart’
- 7. A world of convenient cash withdrawals http://news.softpedia.com/images/news2/Hackers-Take-the-US-Banking-Industry-by-Storm-2.jpg Why we need to be ‘money smart’
- 8. Why we need to be ‘money smart’ A world which tempts you to cash in… at the casinos, betting and gaming sites http://www.bloomberg.com/image/i2GRBDajCf74.jpg http://i2.cdn.turner.com/money/dam/assets/130606033829-online-gambling-620xa.jpg http://sin.stb.s-msn.com/i/67/BDF53EC4586857317563B22B44BCAE.jpg
- 9. The problem today…. • Less contact with actual money • The growing power of plastic • Greater wealth so we are less careful about how we spend money http://therealsingapore.com/sites/default/files/field/image/A TMs.jpg http://victoriayudin.files.wordpress.com/2009/01/flying- credit-card.jpg http://mms.businesswire.com/media/20140123005115 /en/400205/5/New_Citibank_ATMs_2%5B3%5D.jpg
- 10. http://2.bp.blogspot.com/- YclkB7JZydA/ULkOZn5MNeI/AAAAAAAAHaM/TKb7TDzptU0/s1600/working-man.jpg From this… …to this What might happen if we are not careful in money management?
- 11. Singaporean professional in his 30s neck-deep in debt by Lim Weixiang 31 July 2014 10:15 AM | Updated 01 August 2014 http://features.insing.com/feature/a-matter-of-life-and-debt/id-154a3101/ The 33-year-old is an honours degree holder and a white-collar professional. He estimates that he has paid out about S$70,000 in interest over two years on his original loan amount that was S$20,000. His debt problem was seeded about 10 years ago, after he graduated from university and got a job. “My family has never been well-off… "so when I started my first job and earned a proper salary, I suddenly felt like I was awash with cash. I started splurging.” He bought a car within six months and went on frequent holidays. When he went out with friends at night, he would order bottles of wine and pick up the tab for everyone. “… at one point, I was using 10 different credit cards. I lost track of my spending,” he said. “I thought I had it under control," Terence said, "because I had my year-end bonus to count on. Every time I splurged, I would tell myself never mind, I will throw in my bonus to repay my debts. But when the year-end interest came, there would be other things to splurge on, so the credit card bills continued to pile up."
- 12. She recalled: "Well, at that point in my career, I had earned a degree of spending power. And after spending a good deal of my life feeling like my finances were not secure, I felt it was time to let loose and rebel against my 'former life'. Ms Pam Siow, 32, chief executive of online marketing coaching business Internet Biz Owners Club, went through all that when she got her first credit card at 25. Four credit cards and three years later, things spiralled out of control as she found herself $14,000 deep in credit card debt. http://www.straitstimes.com/the-big-story/case-you-missed- it/story/good-debt-bad-debt-20130702?page=13
- 13. http://www.straitstimes.com/the-big-story/case-you-missed- it/story/good-debt-bad-debt-20130702?page=13 Mr Perry Siow for example. At 23, he racked up a debt of more than $50,000, because his business partner ran away with everything from the accounts of the trading firm they had set up together. To add insult to injury, he was a guarantor for a friend who had borrowed $20,000 from a loan shark…. Mr Siow, 37, an associate senior vice-president at realtor HSR, said: "No one taught me about money management, I was depressed. I also had to pawn my mother's gold jewellery to help with my debts. I get emotional thinking about that." This story was first published in The Straits Times on June 30, 2013
- 14. What happens when a person gets into bad debt? It affects not only the person, but his/her family as well. http://cliparts.co/cliparts/ziX/o6B/ziXo6B8jT.jpg • Fights and arguments in the family • Relationship failures • Turning to crime, drinking.. • Depression, suicide…. http://www.nefesh.com.au/wp- content/uploads/2012/11/Arguing.jpg
- 15. Why is there a need for financial literacy education? • the individual • the family • the community • the nation Impact of bad debt on http://www.sc.edu/portal2/newsphotos/m_1320255406.jpg
- 16. Youth debt in numbers According to Credit Counselling Singapore (CCS), last year (2013) it counselled 563 people in debt, aged 35 or younger. The male to female ratio was 69:31, and 374 had A- level or higher education, while 217 were married with children. The lowest amount of debt reported was $3,401, and the highest was $707,772, which was lower than 2011's highest reported debt at $875,203. This story was first published in The Straits Times on June 30, 2013 - See more at: http://www.straitstimes.com/the-big- story/case-you-missed-it/story/good-debt-bad-debt-20130702?page=13#sthash.Aa2OhrWk.dpuf
- 17. Thursday, Apr 9, 2015, STRAITS TIMES
- 18. Absence of Financial Literacy http://www.popularresistance.org/wp-content/uploads/2014/05/debt-collector-debt-validation.jpg
- 19. http://www.legaldebtcollection.com.sg/images/slide1.jpg THE BIGGEST CHALLENGE FOR TODAY’S YOUTH….
- 20. NOTE: Not all debts are bad GOOD DEBT … debt from projects that will bring investment returns (eg : study loan) … one that the borrower can afford to repay on time. https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcRlTFhRE72_mVes7Pj8cCcqX4ESzf_pGT_Wkr6dOhMANfU_C1p7
- 21. An example of GOOD DEBT I have a total of 8 credit cards and 4 debit cards from 6 different banks… I am far from debt though. I plan how to use my salary each month - half for my savings and half to spend. I also record my expenditure diligently in my notebook. This way, I know exactly how much I have left to spend at any point… Stephanie Song, student at NIE, in Youthink page, Straits Times.31st May 2010 http://hajelpitan.files.wordpress.com/2014/01/woman-taking-notes.jpg
- 22. http://clevelandblog.foundationcenter.org/.a/6a00e54efc2f808833017d3ec3c156970c-pi Why is it important to be ‘money smart’?
- 23. S ave Habitually Manage Wisely S hare Thoughtfully How can I better manage my financial resources? SMS
- 24. END OF LESSON 1
- 25. http://cdn2.business2community.com/wp-content/uploads/2013/05/Wave-Goodbye-to-the-Worries-of-Earning-Extra-Money-Online.jpg https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSfb7rfm91vVIijhpa5obcGfDIRkFR2gAoybQkLlBuIVDYB4l99DA LESSON 2 How can I better manage my financial resources?
- 26. • Work alone or in pairs • You have a budget of $200 • You can shop for any item during this FLASH SALE • You are to record the item(s) you have bought and how much they cost in the worksheet provided • You are allowed 5 minutes to look at the items available and 5 minutes to do your shopping. • You can only start buying when the teacher says ‘GO’, but you must stop when the timer rings. Activity 1 : Let’s Go Shopping! https://create-cdn.net/siteimages/29/6/7/296757/8501767.jpg?1398797703
- 28. Is this a need or a want? http://www.capitalfm.co.ke/lifestyle/files/2012/07/mobile-phones.jpg Differentiating between needs and wants
- 29. What have you learnt about yourself from this activity? http://mattzavadil.com/wp-content/uploads/2015/01/exerciseselfcontrol.jpg
- 30. END OF LESSON 2
- 31. http://cdn2.business2community.com/wp-content/uploads/2013/05/Wave-Goodbye-to-the-Worries-of-Earning-Extra-Money-Online.jpg https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSfb7rfm91vVIijhpa5obcGfDIRkFR2gAoybQkLlBuIVDYB4l99DA LESSON 5 What happens when people are short of money?
- 33. Directions: • Each group will be given $100. • Before the wheel is spun, you will send your representative to place your bets on the teacher’s table. • Lowest bet is $10 • No limit to the highest bet. • You may borrow from the banker (teacher) but interest rate is 50%
- 47. 1 2 3 4 56 7 8
- 48. END OF LESSON 5
- 49. http://cdn2.business2community.com/wp-content/uploads/2013/05/Wave-Goodbye-to-the-Worries-of-Earning-Extra-Money-Online.jpg https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSfb7rfm91vVIijhpa5obcGfDIRkFR2gAoybQkLlBuIVDYB4l99DA LESSON 6 How does the Singapore government manage the national budget? • What is the national budget? • Where does the government get its revenue from? • What does the government spend on?
- 50. What do they spend their money on? Where do Father & Mother get their money from? http://ksuperioridad.files.wordpress.com/2011/12/parents-quotes.jpg
- 52. TAXES & INVESTMENTS SOURCES OF GOVERNMENT REVENUE (INCOME)
- 53. GOVERNMENT EXPENDITURE (Spending) 1. DEFENCE 2. TRANSPORT 3. EDUCATION 4. HEALTH CARE 5. MANPOWER 6. ENVIRONMENT & WATER RESOURCES For each of these areas of Government spending, list down all the things that the government spends on. (Eg. Defence – Buying new fighter jets….)
- 54. END OF LESSON 6
- 55. http://cdn2.business2community.com/wp-content/uploads/2013/05/Wave-Goodbye-to-the-Worries-of-Earning-Extra-Money-Online.jpg https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSfb7rfm91vVIijhpa5obcGfDIRkFR2gAoybQkLlBuIVDYB4l99DA LESSON 7 How does the government decide who or what to spend the country’s revenue on?
- 56. The role of a Member of Parliament MPs - Members of Parliament (elected at General Election) NCMP - Non-constituency Member of Parliament NMP - Nominated Members of Parliament MPs ensure that the concerns of their constituents are heard in Parliament. http://thumbs.dreamstime.com/z/bridge-set-18889217.jpg https://upload.wikimedia.org/wikipedia/commons/thumb/b/b8/Group_people_icon.jpg/640px-Group_people_icon.jpg http://sr.photos3.fotosearch.com/bthumb/CSP/CSP601/k6011919.jpg
- 57. GROUP INVESTIGATION PROJECT How does the government decide what or who to spend the county’s revenue on? 1. SURVEY GROUPS : • Teenagers • Young working adults • Married adults with children • Singles • Single parents • Retirees and the elderly
- 58. 1. You have been assigned one category of citizens. 2. Interview 4-5 people who fall under this category. 3. Find out what their needs and aspirations (wishes, ambition, dreams) are. 4. Obtain permission to video tape your interview. If they don’t wish to be videoed, ask if they would allow you to do an audio recording instead. SURVEY : What are the needs and aspirations (wishes) of the people? http://sr.photos2.fotosearch.com/bthumb/CSP/CSP990/k10858210.jpg
- 59. RECORDING AND INTERPRETING DATA After the interview, go over the recordings and write down the main points that your interviewees have raised in the handout provided. UNDERSTANDING THE NEEDS OF _________________________ Interviewee What are your needs and aspirations /wishes? How can the government help you achieve your needs and aspirations/wishes? 1 2 3 4
- 60. END OF LESSON 7
- 61. LESSON 9 How much do you know about Parliament? http://www.nhs.uk/Conditions/vaccinations/PublishingImages/top-10-questions-childhood-vaccinations_364x200_108637247.jpg
- 65. http://www.presentationmagazine.com/newimages/rally-speech-510.jpg CHOOSE 1 PERSON FROM YOUR GROUP TO BE THE MP FOR YOUR CONSTITUENCY. As a group, decide what s/he should say in Parliament on behalf of your constituents. The speech should not be more than 2 minutes long. Objective : Present the needs of your constituents and convince Parliament that your plans are useful and worth spending money on. The MP should practice the speech in front of the group and get their feedback for further improvement.
- 66. END OF LESSON 9
- 67. LESSON 11 How does the government decide who or what to spend the country’s revenue on?
- 69. END OF LESSON 11
- 70. LESSON 12 What roles do the finance minister and president play in the management of the nation’s resources? http://previews.123rf.com/images/justaa/justaa1111/justaa111100008/11151677-Person-icon-show-leadership-and-team-abstract-Stock-Vector-leader.jpg http://images.clipartpanda.com/money-clip-art-9TpbpoqTE.gif
- 71. A Tribute to Dr. Goh Keng Swee Singapore’s 1st Deputy Prime Minister and Finance Minister https://www.youtube.com/watch?hl=en-GB&v=ibzH-tZ3llg&gl=SG
- 72. How well do you know our Presidents? Wee Kim WeeOng Teng Cheong Tony Tan Identify the following Presidents of Singapore
- 73. Yusof Ishak Devan Nair Benjamin ShearesS.R. Nathan Identify the following Presidents of Singapore
- 74. Arrange the presidents in the correct order, beginning with our first president and ending with our current president 1 2 3 4 5 6 7 Wee Kim Wee Ong Teng Cheong Tony TanYusof Ishak Devan Nair Benjamin Sheares S.R. Nathan
- 75. Who was the first Elected President of Singapore? Wee Kim Wee Ong Teng Cheong Tony TanYusof Ishak Devan Nair Benjamin Sheares S.R. Nathan
- 76. Before 1993, the President of Singapore was appointed by the Cabinet, but after 1993 the President was elected by the public. Why was this so? http://theonlinecitizen.com/wp-content/uploads/2012/04/public-consultation-next-step-singapore-democracy.jpg
- 77. Our National Reserves (the nation’s savings) had grown so much that there was a need to safeguard (protect) it so this task of approving the release of the funds was given to the president, who was elected by the people. http://crossvillenews1st.com/wp-content/uploads/2014/05/big-money-bags.jpg
- 78. Where do our National Reserves come from? http://1d0nkd3kux081kfl423njel7.wpengine.netdna-cdn.com/wp-content/uploads/2015/01/CPF-Life.jpg
- 79. What are some important qualities you would look for in a • Finance Minister? • President? http://teachinginkoreanuniversity.com/wp-content/uploads/2015/06/Questions.jpg
- 80. END OF LESSON 12
- 81. LESSON 13 Why does the Singapore government need to manage the national budget well?
- 82. • What do you know about these 3 brothers and the problems they encountered? • How did they end up in such dire straits that they had to borrow money from loan sharks? • What lessons can we learn from them about saving for a rainy day?
- 83. Solve these equations • Revenue/Earnings > Expenditure/Spending = _______________ • Revenue/Earnings = Expenditure/Spending = _______________ • Revenue/Earnings < Expenditure/Spending = _______________ SURPLUS BALANCED DEFICIT
- 84. All about Social Studies, Normal (Technical) Secondary 3 Coursebook (2014) Pearson, p107
- 85. Singapore and her ASEAN neighbours The Little Red Dot
- 86. Some of our neighbours’ resources…. Do we have this? http://isharetoyou.com/wp-content/uploads/2015/07/Phuket-Thailand.jpg
- 87. Do we have this?http://www.borneostarcruise.com/tour/2d1n-via-ferrata-lows-peak-circuit/ http://www.krakatauholiday.com/tourphoto/merapi_volcano.jpg
- 88. https://static.groupon.my/45/89/1325043258945.jpg Do we have this?Do we have this?http://jungleheroes.files.wordpress.com/2012/02/palm-oil.jpg
- 89. http://cdn1.bigcommerce.com/n-ww20x/erkn8g/product_images/uploaded_images/gemstone-jewelry.jpg Do we have this?http://photos1.blogger.com/blogger/1994/2000/1600/brunei_oil_mosque.jpg Do we have this?
- 90. Then what DO we have? People are our most valuable resource http://2.bp.blogspot.com/-rg9H4W-TkVE/UD9sySYDVAI/AAAAAAAAHFc/MmnMzDODNRc/s1600/Singapore.jpg
- 91. END OF LESSON 13
- 92. http://cdn2.business2community.com/wp-content/uploads/2013/05/Wave-Goodbye-to-the-Worries-of-Earning-Extra-Money-Online.jpg https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcSfb7rfm91vVIijhpa5obcGfDIRkFR2gAoybQkLlBuIVDYB4l99DA LESSON 14 Why is the national budget important to me? (Why should I be concerned about the national budget?)
- 94. All about Social Studies, Normal (Technical) Secondary 3 Coursebook (2014) Pearson, p107
- 95. How do I contribute towards the stability and well-being of my country? https://yawningbread.files.wordpress.com/2012/01/pic_201201_19.jpg http://farm9.staticflickr.com/8522/8557825819_3fa342c2ae.jpg http://www.chungchenghighyishun.moe.edu.sg/cos/o.x?c=/wbn/pagetree&func =view&rid=38542
- 96. What do you see yourself doing in … 2016 2018 2021 2025 2030 What do you need to do to achieve your dreams?
- 97. END OF LESSON 14
- 98. LESSON 15 How can I play my part in contributing to the nation’s growth and development? S ave Habitually Manage Wisely S hare Generously SMS
- 99. Saving habitually and Managing our limited resources What else can we save other than money? Why do we need to save or conserve our land and water resources? SMS
- 100. How can we save or conserve our land and water resources? Saving our forests Saving energy Saving water Saving our endangered animals Saving our marine life Saving our beaches
- 101. Sharing Generously Why should we share with others? Who are these ‘others’ that we can share with? What can we share other than money? SMS
- 102. How can we share our… TIME TALENTS
- 103. Overarching Essential Question Why is it important to manage our financial resources well?
- 104. THE END
Editor's Notes
- #94: http://www2.asd.wednet.edu/Pioneer/barnard/resources/clart/kidsca.htm