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Financial

Literacy

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Tell us, what do you know about…

MONEY?

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What is STEMM?

Science

Technology

Math

Engineering

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One fine day…

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But… how is monopoly related to math?

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Well…

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Concepts used in Monopoly

Exchanging & counting money
Banks (store money)
Properties — houses, railways
Rents (when you ”borrow” someone’s property square)
Mortgage — loaning money to buy a house

watch this video to learn how monopoly teaches us about financial literacy!

https://youtu.be/54mqmLpS9ls?si=qyczAZohguY0Yj1S

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Contents

Money conversion
Percentage - discounts, how to calculate tax
GST
Market segment- be a buyer or a seller!
Game segment

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Money conversion!

01

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What IS money?

Money is a current medium of exchange in the form of coins and banknotes

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Singapore currency - coins!

5 cents = $0.05

10 cents = $0.10

20 cents = $0.20

50 cents = $0.50

100 cents = $1.00

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Singapore currency- notes!

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Try the exercises on your worksheet!

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Percentage

02

Discounts and Taxes

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What is a percentage?

When do we use percentages?

amount written as a number, which are parts of something divided into 100 parts
symbol: % -> say out as “percent”

percent means out of 100 parts

sales and discounts
taxes
we’ll touch on these later!

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tray full of 80 chocolate cakes and 20 vanilla cakes; total 100 cakes!

What is the percentage of chocolate cakes that are in the tray?

80%! 80 cakes out of a 100 cakes (rmb that % means out of 100)

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What happens if there aren’t 100 parts?

total of 20 marbles; 5 blue marbles -> 5 out of 20 marbles!

What is the percentage of blue marbles in the bag?

25%!

-

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How do we calculate percentages?

1: identify the whole

2: determine the number of parts

3: set up the fraction

4: multiply the fraction by 100

your turn to try!

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Why do we use percentage?

help us understand amounts
help us compare quantities

apply percentages in discounts and taxes!

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have you ever seen this before? do you know what it means?

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What is a discount?

a reduction in price or cost that is offered by a seller or a store

$10

20% off*!

* off = discount

toy’s price became cheaper by 20%!

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How to calculate a discount?

1: find the discount amount

2: remove discount amount from actual price

$10

20% off!

what is the price of the toy after discount?

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GST

03

what does it stand for?

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Goods & Services Tax

What is GST?

a way for the government to collect money that helps fund important things in the country

like schools, hospitals, and public transportation

When we buy something or use a service, a small percentage of the money we pay goes to the government as GST.

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How GST works when buying something

$10

9% GST:

9% x $10

= 9/100 x 1000 cents

= 90 cents

Receipt:

$10.90

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How do we see GST??

In small font at the bottom of receipts!

-> from 2022

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GST rates around the world!

Singapore

7% → 8% (2023)

→ 9% (2024)

Hungary

27% GST

The highest!

United Kingdom

20% GST

Australia

10% GST

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How banks work

Store a certain amount of money in the bank

Every few months/year, the bank pays you interest

Interest: The bank “thanks” you for storing money with them, and pays you a small amount of money!

Imagine you have a piggy bank where you save your money. When you put your money in the piggy bank and keep it there for a while, the bank wants to thank you for keeping your money with them. So they give you a little extra money as a gift. That extra money is called "interest."

Let's say you have 10 coins in your piggy bank, and the bank gives you 1 extra coin as interest. Now you have 11 coins! The more money you keep in the bank, the more interest you can earn.

Banks use your money to help other people who need it, like when they want to buy a house or start a business. When the bank lends your money to someone else, they charge them a little bit of extra money, which is called "interest." And that extra money goes back to you as a gift for keeping your money in the bank.

So, the longer you keep your money in the bank, the more interest you can earn. It's like a special way the bank says thank you for letting them use your money to help other people.

Can you name any banks in Singapore?

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BUDGET BAZAAR!

04

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Organizational chart

Bank

Buyers ($1500)

Sellers ($1500)

Buy items from suppliers; choose a selling price to sell to your customers
Make receipts for your customers

Pick a list of tasks you need to do (buy groceries, pay medical bills etc.)
Place your savings in the bank to invest(earn 10%/5 min)

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Sellers

Buyers

Choose a market (grocery seller, hospital)
Buy some items for your market; decide on selling prices
Make receipts for your customers!

Collect money and choose a task list
Buy all the items on the task list
Store your savings in the bank to earn more money!

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Value Chart

cookie jar ($45) -5pt
water bottles ($8 each) +3 pts
strawberries[red balls] ($5 each) +20 pts
green apples[tennis balls] ($3 each) +35 pts
(medicine) bottles ($20 each) +40 pts
cotton buds ($5 each) +15 pts
headphones (stethoscope) ($75) +2 pts

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Value Chart

7. Pillows ($15 each) -1 pts

8. Toy Cars ($13 each) -5 pts

9. Soccer ball ($40 each) -10 pts

10. Massage chair ($60 each) -30 pts

11. Soft drink ($13 each) -25 pts

Add points for the amount of money you have left!

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Reflections (post-game)

Counting change

Saving

Budgeting

Investing

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Budget Game

05

click on this link

to play the game!

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Thanks!

Do you have any questions?

youremail@freepik.com

+91 620 421 838

yourcompany.com

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