The use of cash as a payment method is declining. This has implications for how we teach money, consumer math, and life skills math. This is especially true for students with special needs who need more concrete representations of math. This post presents an activity to practice with a running bank balance.
Cash vs Card Transactions
The Federal Reserve Bank of San Francisco conducted a study on payment choices. The study, using a sample of people, reports that the use of cash as the payment method was most frequent for purchases under $10 and then it was used in less than half of the purchases. Given the increase in online ordering, it seems that cash use will drop further. This has implications for the students we support.
Previously, I posted about using a gift card activity to as an entry point to the concept of budgeting. Students are asked to compute a running balance. This post provides details about a similar activity, but for a bank balance using a bank register (as opposed to a check register).
Bank Balance Activity
The student plays an online game for counting money (image below). In lieu of counting out money each time, the student uses a bank register (image below) to track balance as if the student is using a debit card for purchases. The game has 3 types of squares: spending, earning or receiving money, and a gift card that would not affect the balance.
This allows for engagement with budgeting and a limit on spending. It can also lead to a discussion about negatives.
An alternative activity is to weave the use of the register into daily activities with students, especially in a life skills program. A colleague of mine who ran the life skills program at a high school would have students check in each day on a time clock and they would have a job. They could be paid and maintain a balance (scaffolded as needed). This could be done in a resource setting in general, without an actual job or maybe a different type of job than is often used in transition settings.
Access to Document
Here is a link to the Google Doc. You need to make a copy to use it.