Ntss classroom slides

SECONDARY 3 NT SOCIAL STUDIES

Overarching Essential QuestionWhy is it important to manage our

financial resources well?

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

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LESSON 1

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

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.

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

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

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A world of convenient cash withdrawals

http://news.softpedia.com/images/news2/Hackers-Take-the-US-Banking-Industry-by-Storm-2.jpg

24 HOUR ATM



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.jpghttp://sin.stb.s-msn.com/i/67/BDF53EC4586857317563B22B44BCAE.jpg

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/ATMs.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

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?

Singaporean professional in his 30s neck-deep in debtby 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."

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

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

What happens when a person gets into bad debt?

It affects not only the person, but his/her family as well.

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• Fights and arguments in the family• Relationship failures • Turning to crime, drinking..• Depression, suicide….

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Why is there a need for financial literacy education?

• the individual• the family• the community• the nation

Impact of bad debt on

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Youth debt in numbersAccording 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

Thursday, Apr 9, 2015, STRAITS TIMES

Absence of Financial Literacy

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http://www.legaldebtcollection.com.sg/images/slide1.jpg

THE BIGGEST CHALLENGE FOR TODAY’S YOUTH….

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.

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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

http://clevelandblog.foundationcenter.org/.a/6a00e54efc2f808833017d3ec3c156970c-pi

Why is it important to be ‘money smart’?

S ave Habitually Manage WiselyS hare Thoughtfully

How can I better manage my financial resources?

SMS

END OF LESSON 1



LESSON 2

How can I better manage my financial resources?

• 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

SHOPPING SITES

http://www.qoo10.sg

http://www.lazada.sg/




Is this a need or a want?http://www.capitalfm.co.ke/lifestyle/files/2012/07/mobile-phones.jpg

Differentiating between needs and wants

What have you learnt about yourself from this activity?

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END OF LESSON 2



LESSON 5

What happens when people are short of money?

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%

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END OF LESSON 5

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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?

What do they spend their money on?

Where do Father & Mother get their money from?

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REVENUE (Income)

EXPENDITURE (Spending)

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TAXES & INVESTMENTS

SOURCES OF GOVERNMENT REVENUE (INCOME)

Personal Income Tax

Goods and Services Tax

Property Tax

Motor Vehicle

Tax

Betting Tax

ERP

Electricit

y and W

ater Tax

Business

Tax

Customs a

nd Excise Duties

Fines

Investments

GOVERNMENT EXPENDITURE (Spending)

1. DEFENCE2. TRANSPORT3. EDUCATION4. HEALTH CARE5. MANPOWER6. 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….)

END OF LESSON 6


LESSON 7

How does the government decide who or what to spend the country’s

revenue on?

The role of a Member of Parliament

MPs - Members of Parliament (elected at General Election)NCMP - Non-constituency Member of ParliamentNMP - Nominated Members of Parliament

MPs ensure that the concerns of their constituents are heard in Parliament.

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https://upload.wikimedia.org/wikipedia/commons/thumb/b/b8/Group_people_icon.jpg/640px-Group_people_icon.jpg

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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

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?

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RECORDING AND INTERPRETING DATAAfter 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

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END OF LESSON 7

LESSON 9

How much do you know about Parliament?http://www.nhs.uk/Conditions/vaccinations/PublishingImages/top-10-questions-childhood-vaccinations_364x200_108637247.jpg

https://en.wikipedia.org/wiki/Politics_of_Singapore

http://www.channelnewsasia.com/news/specialreports/parliamentreopens

http://3.bp.blogspot.com/-_XSyERuAzkk/UjhgYiBgeFI/AAAAAAAAUUo/1dlMInb7JRY/s1600/Parliament+pays+tribute+to+Mr+Lee+on+his+90th+birthday.jpghttp://www.snipview.com/q/10th_Parliament_of_Singapore

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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.

END OF LESSON 9

LESSON 11

How does the government decide who or what to spend the country’s

revenue on?

THE END

https://www.youtube.com/watch?v=7zZNIIvr7Do

END OF LESSON 11

LESSON 12

What roles do the finance minister and president play in the

management of the nation’s resources?

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A Tribute to Dr. Goh Keng SweeSingapore’s 1st Deputy Prime Minister and Finance

Minister

https://www.youtube.com/watch?hl=en-GB&v=ibzH-tZ3llg&gl=SG

https://www.youtube.com/watch?hl=en-GB&v=ibzH-tZ3llg&gl=SG

How well do you know our Presidents?

Wee Kim WeeOng Teng Cheong Tony Tan

Identify the following Presidents of Singapore

Yusof Ishak Devan NairBenjamin ShearesS.R. Nathan

Identify the following Presidents of Singapore

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

Who was the first Elected President of Singapore?

Wee Kim Wee Ong Teng Cheong

Tony TanYusof Ishak

Devan Nair

Benjamin Sheares

S.R. Nathan

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?

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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.

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Where do our National Reserves come from?

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What are some important qualities you would look for in a

• Finance Minister?• President?

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END OF LESSON 12

LESSON 13

Why does the Singapore government need to manage the national budget

well?

• 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?

Solve these equations

• Revenue/Earnings > Expenditure/Spending = _______________• Revenue/Earnings = Expenditure/Spending = _______________• Revenue/Earnings < Expenditure/Spending = _______________

SURPLUS

BALANCED

DEFICIT

All about Social Studies, Normal (Technical) Secondary 3 Coursebook (2014) Pearson, p107

Singapore and her ASEAN neighbours

The Little Red Dot

Some of our neighbours’ resources….

Do we have this?http://isharetoyou.com/wp-content/uploads/2015/07/Phuket-Thailand.jpg

Do we have this?http://www.borneostarcruise.com/tour/2d1n-via-ferrata-lows-peak-circuit/

http://www.krakatauholiday.com/tourphoto/merapi_volcano.jpg

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

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.jpgDo we have this?

Then what DO we have?

People are our most valuable resourcehttp://2.bp.blogspot.com/-rg9H4W-TkVE/UD9sySYDVAI/AAAAAAAAHFc/MmnMzDODNRc/s1600/Singapore.jpg

END OF LESSON 13


LESSON 14

Why is the national budget important to me? (Why should I be concerned

about the national budget?)

TAXES and

GOVERNMENT INVESTMENTS

GOVERNMENT SUBSIDIES

EDUCATION GRANTS & AWARDS

http://www2.asd.wednet.edu/Pioneer/barnard/resources/clart/kidsca.htm

SEEING THE BIG PICTURE

All about Social Studies, Normal (Technical) Secondary 3 Coursebook (2014) Pearson, p107

How do I contribute towards the stability and well-being of my country?

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http://www.chungchenghighyishun.moe.edu.sg/cos/o.x?c=/wbn/pagetree&func=view&rid=38542

What do you see yourself doing in …

20162018 2021

2025

2030

What do you need to do to achieve your dreams?

END OF LESSON 14

LESSON 15

How can I play my part in contributing to the nation’s growth and development?

S ave Habitually Manage WiselyS hare Generously

SMS

Saving habitually andManaging 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

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

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

How can we share our…

TIME TALENTS

Overarching Essential QuestionWhy is it important to manage our

financial resources well?

THE END

Date post:	13-Apr-2017
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