F1.1 Describe several ways money can be transferred among individuals, organizations, and businesses.
Activity 1: Help Organize a Party
Create a small party scenario for students involving the transfer of money. For example:
Victoria's grandmother will be 80 years old. The family is planning a special family gathering to celebrate her birthday. Victoria's mother is ordering the cake, the meal and the decorations. Explain the process of transferring money and then divide students into groups and ask them to choose 2 different ways to transfer money.
Divide students into groups and ask them to choose 2 different ways to transfer money while explaining the process of transferring money. Students will need to communicate their choices and reasoning with concrete examples.
Activity 2: What Method of Payment Do You Accept?
Invite students to discuss different ways to transfer money. Prepare cards with the names of people, services or organizations to which money could be transferred either for payment or for donation. For example, the Heart and Stroke Foundation, an animal shelter, the babysitter, a merchant after placing an online order, a home service provider to pay for repairs, and so on.
Distribute the cards to the groups and ask them to choose the best way to transfer money for each situation. Circulate the cards among the groups so that all groups have the opportunity to discuss each situation and to choose a way to transfer money.