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⭐ Connecting Financial Literacy to Essential Key Concepts ⭐️
Exploring Financial Literacy offers authentic opportunities to revisit the Essential Key Concepts of Decimal and Fractional Reasoning and Operations and Proportional Reasoning:
B1.6 → Equivalences among fractions and decimal numbers up to thousandths
Converting between fractional interest rates (e.g., 1/4 % monthly) and their decimal equivalents (0.0025) helps students connect fractions and decimals meaningfully
B2.4 → Represent and solve problems involving addition and subtraction of whole numbers and decimal numbers
Teaching interest rates - adding interest earned to a savings balance or calculating total cost with fees - lets students add and subtract decimals in real-world financial scenarios
B2.12 → Solve problems involving ratios, including percents and rates
Students can use a ratio table to compare two savings account options and calculate the total earned over a year on a $500 balance
Expectation Cluster
Expectation Cluster
F1 demonstrate the knowledge and skills needed to make informed financial decisions
F1.1 describe the advantages and disadvantages of various methods of payment that can be used to purchase goods and services
F1.2 identify different types of financial goals, including earning and saving goals, and outline some key steps in achieving them
F1.3 identify and describe various factors that may help or interfere with reaching financial goals
F1.4 explain the concept of interest rates, and identify types of interest rates and fees associated with different accounts and loans offered by various banks and other financial institutions
F1.5 describe trading, lending, borrowing, and donating as different ways to distribute financial and other resources among individuals and organizations
Mathematical Modelling is a key process expectation that connects across multiple strands. Opportunities to engage students in modelling may arise naturally within rich, real-world contexts — for example, in financial literacy (e.g., creating a budget), measurement (e.g., designing a garden space), or data (e.g., interpreting results from a student survey).
We recommend using open-ended tasks where students define problems, make decisions, and justify their thinking — even in informal ways — as early steps toward developing modelling skills.
See our Mathematical Modelling page for more information.
Process Expectation Focus: Reasoning and Proving, Communicating
Organize your observations of student learning related to the key concepts and skills for this topic:
Explore a menu of possible MathUP lessons, Building Fluency lessons, problems, explorations and games.Please Note: Access is limited to current WRDSB employees.
During this topic, pay attention to the students' ability to think critically and creatively.
Do students connect the mathematics they are learning to familiar contexts?
Do students use their mathematical thinking to make and justify decisions?
Do students use mathematics to help them identify and/or address important social issues?
Models and Tools
Models and Tools
Concrete Learning Resources Tools:
debit and credit card samples
loyalty card samples
Virtual Learning Resources and Tools:
Google Sheets
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