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Earn Your Future ®

Digital Classroom
Level 1:
Robot Games

Module Resource
Guide
Table of contents
“Robot Games” Module Resource Guide ......................................................................................... 1
Background information about the topic ........................................................................................ 3
Teaching the module........................................................................................................................ 4
Assessing student learning .............................................................................................................. 9
Extending student learning ........................................................................................................... 12
National standards for financial literacy ....................................................................................... 13
Related resources for students ...................................................................................................... 14

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“Robot Games” Module Resource
Guide
Topic: Saving and Investing

Suggested grade level

Although this module may be used for all grade levels, the content was designed for grades three-to-five.

Hardware recommendation
Earn Your Future (EYF™) Digital Classroom modules are accessible on most devices, however, for
optimal user experience it is recommended modules are accessed via desktop or tablet. Please note, the
EYF Digital Classroom modules are not optimized for use on mobile devices (iOS and Android).

Technical specifications
While the EYF Digital Classroom modules were designed to function in all browsers, including Internet
Explorer, Safari, Chrome, and Firefox, browser load speeds will vary. For best performance, it is
recommended that the most current version of your browser of choice is used when accessing the
modules. Please note, connection speeds may be impacted by factors such as highly trafficked shared Wi-
Fi access, public Wi-Fi, and accessing modules behind a firewall.

Module summary
In this module, students’ quest is to earn coins to buy new robot parts for Kreditt so that she can increase
her abilities and win a robot competition. In the first challenge, students learn about setting a savings
goal; they determine what it will cost to boost Kreditt’s powers and calculate how much they will need to
save each week prior to the competition. In the next challenge, students learn about differentiating
between wants and needs, prioritizing purchases, and considering opportunity costs; they begin
formulating a saving plan to help Kreditt. In the final challenge, students learn how creating a budget can
help them reach their goal. If students successfully complete the three challenges, they will earn enough
coins to help Kreditt defeat her competitors at the Robot Games.

Key learning objectives

• Students will understand the reasons people save.

• Students will develop a savings plan.
• Students will understand how budgets help people reach their savings goals.
Procedure
This module is designed to be flexible to meet the needs of many different learning environments.

• One-to-one environment – Students using the module for independent, self-paced learning, can
simply move through the module at their own pace.

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• Working in pairs or at centers – Students can take turns answering the questions throughout
the module and in this guide, or they can work together to answer the questions. As students may
have different reading levels, you will want to guide them to provide each group member with an
opportunity to read and comprehend the information before moving on.
• Class environment – If you are leading a group in a one-to-many environment, you can use a
projector and screen or whiteboard to make the module the focus of instruction and discussion. Use
the questions in this guide and a show of hands during each topic to gauge student comprehension.
• Customized instruction – You may also choose to use discrete elements from the module (e.g.,
video, activity, assessment) that fit your timeframe and curriculum. The navigation at the upper left
corner of the module can help you select specific parts once you have reviewed the module. Keep in
mind that many modules take students through a storyline about a character or event. If you start in
the middle of a module, you may want to provide students an overview such as the Module summary.

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Background information about
the topic
Investigation 1—Setting goals
All people have basic needs for food, shelter, and clothing, but also wants—those
things they hope to acquire in the future. It is an important financial skill to be
able to identify wants and how much it will cost to acquire them. For example, if
a person hopes to take a vacation at some point in the future, it is necessary to
identify the associated costs, such as buying airline tickets, paying for meals and
lodging, and having spending money. This information will determine how much
savings are required. The person can then set a savings goal, which should be
clear and specific in terms of amount to be saved and length of time allotted to achieve it. The savings
goal becomes the basis for a savings plan, which lays out the steps—the weekly or monthly savings—
necessary to achieve the goal.

Having a clear goal and plan provides an incentive for saving. Savings plan goals help a person see how a
small, regular sacrifice can lead to a large and satisfying result.

Investigation 2—Making informed savings plans

The setting of savings goals is complicated by the fact that few people can
acquire all the things they want. Nearly everyone has a limited amount of money
to spend, and people must make decisions about what they will and will not
acquire. This means people must set priorities, ranking their list of wants in
order of most to least important. When it comes time to make a spending
decision on a particular item on their list, people must also consider that decision’s opportunity cost. The
opportunity cost is the most desirable item on their list that they are giving up as a result of their
spending decision. Every decision can only have one opportunity cost.

Challenge 3—Budgeting
A key tool for reaching spending goals is a budget. This tool enables a person to
carefully track his or her income and expenses. All people should strive for a
balanced budget, in which income and expenses are at least equal. A budget
should also include a specified amount of savings, which can help a person
toward a savings goal.

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Teaching the module
Preparation
It is recommended that you complete the module yourself prior to sharing it with students. This will
allow you to build your background knowledge and experience what students will experience so that you
are better able to anticipate their reactions, questions, and misconceptions.

Key vocabulary
The chart below provides simple and advanced definitions1 for each of the key vocabulary words in this
module. The simple definition matches the glossary for grades three through five in the Digital
Classroom. The advanced definition provides the full definition of each vocabulary word for your
reference, and may also be used to differentiate instruction for advanced students.

Simple definition Advanced definition

A plan for recording and monitoring A spending-and-savings plan,

how much money you earn and spend based on estimated income and
Budget in period of time, like a month. expenses for an individual or an
organization, covering a specific
time period.

Money a person spends on things. The total money spent by a

Expenses
person or business.

Something that motivates or Any reward or benefit, such as

encourages you to do something, like money, advantage or good
Incentive
save or buy a product. feeling, that motivates people to
do something.

Money a person receives from doing The amount of money a person

work, owning a business, lending receives from all sources.
Income
money to others, investing money,
renting property, or getting gifts.

The the next best thing you give up The money and/or other benefits
Opportunity cost when you decide to do or buy you give up in order to acquire or
something else. achieve something else.

Putting money aside to use at a later Money set aside for a future use
Saving time. that is held in easily-accessed
accounts, such as savings

1The following sources were consulted to create key vocabulary definitions: Council for Economic
Education, Merriam-Webster.com, and Dictionary.com.

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 accounts and certificates of
deposit (CDs).

An amount of money a person wants to An amount of money a person

Savings goal set aside for a specific purpose. wants to set aside for a specific
purpose.

Specific action steps a person plans to A plan for setting aside money for
Savings plan take to meet a savings goal and a future use.
timeline for completing them.

Putting things in order, from most A preferential rating, from most

Setting priorities
important to least important. important to least important.

Using money to buy goods or services. Using money now to but goods
Spending
and services.

Pre-module guiding questions

The following questions can be used to activate students’ prior knowledge and extend their learning
throughout the module.

1. Suppose an adult asked you to write down a list of three items you might like to receive as a gift for
a birthday or a holiday. What things might you consider when making this list?
2. Do you receive any money in the form of gifts? Allowance? For work you do around the house or
for others? What do you do with any money you receive?
3. Have you ever wanted to buy something, but didn’t have enough money to pay for it? How did you
plan to get the money needed to make the purchase?

Discussion questions/writing prompts

Consider pausing at the end of each module topic to pose questions to students. Suggested questions and
prompts are provided below.

Challenge 1: Setting a savings goal

Students examine a number of items that are on Kreditt’s list of wants for the upcoming contest.
Kreditt explains the concepts of savings, savings goals, and savings plan and how setting goals and
making plans help provide an incentive for saving money.

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Challenge 1 questions/prompts

1. Remember that Kreditt is hoping to win a contest in which she is competing with other robots on
certain tasks. Will all of the items on her “wish list” of parts help toward that goal? Explain.
Possible answer: Not all of the items will help Kreditt win. For example, the racing stripes may
look great, but they won’t help Kreditt perform better.

2. Kreditt says that having goals and plans helps provide an incentive for saving. Why do you think
that is?
Possible answer: Having a goal and a plan for reaching it makes reaching it more likely. You can
see how you’re making progress towards the goal and it makes something that seemed large and
maybe far away at the beginning, actually achievable in the end.

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Challenge 2: Making informed savings and spending plans
Students click through information about some key concepts related to saving plans and making
spending decisions: opportunity cost and setting priorities.

Challenge 2 questions/prompts

1. You learned about setting priorities in your spending decisions. Do you set priorities in
how you choose to spend your time each day? How do you go about making these
decisions?
Possible answer: Students should recognize that they must prioritize how they spend their
time, which is also limited. Students may report that they try to figure out what tasks or
activities they absolutely must do today and which could be put off for another day in
prioritizing their use of time.

2. Setting priorities about what you’d like to buy can be a challenge. Think about a time you
had to prioritize a spending choice. How did you make the decision about what to buy—
and not buy?
Possible answer: Student responses will vary, but they should recognize that the process
involved deciding which purchase was most important and also considering what they
were willing to live without.

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Challenge 3: Budgeting to reach a goal
Students click through a series of cards to learn about budgets and their basic components—income and
expenses. They also learn how to balance a budget to ensure they have enough money to satisfy their
needs and wants.

Challenge 3 questions/prompts

1. Remember Kreditt’s budget and what she cut out in order to balance it? Are there any expenses
that you are responsible for? How hard do you think it would be to cut some of your expenses?
Possible answer: Students may have few expenses, but encourage them to think of any spending
they do and what they would be willing to give up if they had to cut back.

2. Do you think that the promise of achieving a spending goal in the future makes it easier to cut
spending today? If you had a picture on your piggy bank of what you hope to buy, would that make
it easier to save? Explain.
Possible answer: Answers will vary: Students may observe that it is much easier to make a sacrifice
when they can see the benefit of the action in the future.

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Assessing student learning
Post-test questions, answers, and scoring
Students answer assessment questions that measure their understanding of, and ability to apply, the
module content. Each question is crafted to reveal complete understanding, partial understanding, or
very little to no understanding of the financial literacy skill being measured. Points, ranging from zero to
two, are earned based on answer selections.

In this module, the post-test consists of five questions for a total point value of nine. Students who
achieve a minimum score of six points will earn a badge reflecting their understanding of the module
content. Students who earn five or fewer points will have the opportunity to retake the test to try to
increase their score and earn a badge.

In Question 1, students understand meanings of key terms related to saving and spending. These
answers are correct because they accurately reflect the relationship between the key terms and the
description. If students answer incorrectly, refer to Challenges 1, 2, 3, and the Glossary.

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 In Question 2, students understand reasons people save. Options A and D are correct because
being able to replace something or buy something in the future are good reasons to save money. The
other options are not achievable by saving. If students answer incorrectly, refer to Challenge 1.

In Question 3, students develop a savings plan. Options B and D are correct because they are the
only options that yield the amount of the savings goal—$75. If students answer incorrectly, refer to
Challenge 1.

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 In Question 4, students understand how budgets help people reach their savings goals. These
answers are correct because they accurately describe what a budget is, how a budget is created, and
what a budget is used for. If students answer incorrectly, refer to Challenge 3.

In Question 5, students determine the opportunity cost of a spending decision. Option A is correct
because it is the only option that accurately reflects the meaning of the term opportunity cost. If
students answer incorrectly, refer to Challenge 2.

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Extending student learning
The following activities are designed to help students continue their exploration of key concepts. They
are intended to be used after students have completed the module.

Writing prompts/projects

1. Have students generate a list of five wants that they would like to purchase at some point in the
future. Next have students go through their list and prioritize it, from most important to least
important. For the want at the top of their list, have them identify the cost and then create a saving
plan that would enable them to make the purchase within six months. Students should also identify
the source of the money they will save (gifts, allowance, etc.).

2. Have students create a budget that tracks their monthly income and expenses. Encourage students
to be thorough in thinking about all their sources of income, including any gifts, allowance, or
payment for chores. (If students have no income or cannot identify any, have them assume an
income of $10 a month for the purpose of the activity.) Have students also identify any savings they
have already accumulated; these savings and their total income will equal their total available to
spend. Students should also thoroughly examine any expenses they have and include them in their
budget. Student expenses may include any purchase they make, contributions to charity, or any
other regular payment of money they may make.

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National standards for financial
literacy
This module is correlated to the National standards for financial literacy from the Council for Economic
Education. Standards are classified as primary or secondary. Primary standards are addressed directly
and thoroughly. Secondary standards are addressed indirectly or partially.

Primary

Buying Goods and Services – Grade 4: People make choices about what goods and services they buy
because they can’t have everything they want. This requires individuals to prioritize their wants.

Buying Goods and Services – Grade 4: Whenever people buy something, they incur an opportunity
cost. Opportunity cost is the value of the next best alternative that is given up when a person makes a
choice.

Buying Goods and Services – Grade 4: Planning for spending can help people make informed choices.
A budget is a plan for spending, saving, and managing income.

Saving – Grade 4: When people save money, they give up the opportunity to spend that money to buy
things now in order to buy things later.

Saving – Grade 4: People set savings goals as incentives to save. One savings goal might be to buy
goods and services in the future.

Saving – Grade 4: A savings plan helps people reach their savings goals.

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Related resources for students
These resources can be used to reinforce or expand upon students’ understanding of key concepts in the
module.

Resource: Saving Gives You Power

Source: TheMint.org
Description: Helpful information and entertaining games and tools children can use to learn about
saving.
Link: http://www.themint.org/kids/saving.html

Resource: Start Your Savings

Source: MyCreditUnion.gov
Description: Information about saving money and opening credit union accounts.
Link: http://www.mycreditunion.gov/Pages/start-your-savings.aspx

Resource: Managing Money: Create a Budget

Source: PBS Kids
Description: Guidance for kids about how to make a budget.
Link: http://pbskids.org/itsmylife/money/managing/article6.html

Resource: Managing Money: Needs vs. Wants

Source: PBS Kids
Description: Information about distinguishing between needs and wants.
Link: http://pbskids.org/itsmylife/money/managing/article2.html

Resource: Managing Money: Make a Savings Plan

Source: PBS Kids
Description: Helpful exercises about the process of making a savings plan.
Link: http://pbskids.org/itsmylife/money/managing/article7.html

Resource: Managing Money: Set Money Goals

Source: PBS Kids
Description: Discussion about different types of goals—short-term and long-term.
Link: http://pbskids.org/itsmylife/money/managing/article3.html

Resource: What’s It Worth

Source: TheMint.org
Description: Explanation of opportunity cost aimed at younger people
Link: http://www.themint.org/kids/whats-it-worth.html

Resource: What Kind of Spender Are You?

Source: TheMint.org
Description: Online quiz that helps a student examine his or her spending habits and decisions
Link: http://www.themint.org/kids/what-kind-of-spender-are-you.html

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Resource: World of Cents
Source: MyCreditUnion.gov
Description: Game that focuses on skills of earning, saving, and spending money
Link: http://www.mycreditunion.gov/Pages/world-of-cents-game.aspx

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