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Money Minds and Story Finds: Adventures in Literacy and Wealth

Kentucky Financial Empowerment Commission program sponsored by KY Jump$tart

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KY Financial Literacy Standards

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    • F.P.2 Explain the difference between buying and borrowing.
    • F.P.9 Explore ways people pay for goods or services
    • FL.I.3 Explain how credit is used as a basic financial tool.
    • FL.I.4 Explain how borrowing money (credit) is more expensive than paying cash (e.g., interest, fees)
    • FL.I.5 Identify factors and experiences, such as role models and peer pressure, which affect spending patterns

Story by Sheila Bair

3rd -5th

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What was wrong with Princess Persephone in the beginning of the story?

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Who came to the door and seemed like they wanted to help her?

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Princess Persephone Loses the Castle

By Sheila Bair

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Princess Persephone was freezing! Her Castles walls had cracks in it which let in the cold wind!

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Aluminum Jim said he had a solution to help her stay warm!

Princess Persephone Loses the Castle

By Sheila Bair

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Did Aluminum Jim really want to help her or did he just want sell something to the princess?

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Did he get the princess to purchase the items? What did he offer the Princess so she could afford the white tin that was going to keep her warm?

Princess Persephone Loses the Castle

By Sheila Bair

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Jim told the princess he’d loan her the money!

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Princess Persephone Loses the Castle

By Sheila Bair

A loan is when you ask to use some money from someone or a bank, and you promise to give that money back later. Usually, when you give the money back, you also pay a bit more called interest, which is like a thank-you for letting you borrow the money.

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Was Jim honest and helpful when Princess Persephone was confused about the loan?

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When Spice yelled “STOP” to tell the Princess that she should let the King’s lawyers look over it. What did Jim say? How did he pressure the Princess to sign the loan right away?

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Princess Persephone Loses the Castle

By Sheila Bair

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The tin did not help keep the Princess warm and when she received her first bill what happened?

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Princess Persephone Loses the Castle

By Sheila Bair

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Princess Persephone was shocked at what she had to pay.

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What caused her bill to be so high?

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Princess Persephone Loses the Castle

By Sheila Bair

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When you borrow money (a loan) and there's compound interest, it means you have to pay back more than you borrowed. It's like a little extra fee you owe because you borrowed money.

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Princess Persephone Loses the Castle

By Sheila Bair

COMPOUND INTEREST

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The Princess didn’t pay her bills. Since she decided to discard the bills, what happened?

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Since the princess did not pay her bills she was given eviction papers.

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Princess Persephone Loses the Castle

By Sheila Bair

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Luckily the Spice thought of a friend that the Princess could ask for help from. The Princess learned it was important to read every paper before signing.

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Princess Persephone Loses the Castle

By Sheila Bair

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Princess Persephone Loses the Castle

By Sheila Bair

Link to worksheet:

This worksheet goes along with the slide show!