www.pwcfdnearnyourfuture.

org

Earn Your Future ®

Digital Classroom
Level 1: Learn to
Earn

Module Resource
Guide
Table of contents
“Learn to Earn” Module Resource Guide ........................................................................................ 1
Background information about the topic ........................................................................................ 3
Teaching the module........................................................................................................................ 5
Assessing student learning ............................................................................................................ 10
Extending student learning ........................................................................................................... 15
National standards for financial literacy ....................................................................................... 16
Related resources for students ...................................................................................................... 17

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“Learn to Earn” Module Resource
Guide
Topic: Income and Careers

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 developed 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 consider the ways that both children and adults decide upon jobs and careers,
and earn money. Helping guide them through the module is Kreditt, a specially designed robot whose job
is helping people answer questions about money. Students begin by learning about a range of jobs and
careers and the skills required to succeed in them. They then learn about entrepreneurship and consider
some of the characteristics that successful entrepreneurs often have. Students also learn about other
ways to earn income, including rental income, investment income, and gifts. At the end of the module,
students learn that it’s never too early to begin thinking about what they want to do professionally or to
start planning and saving for their future.

Key learning objectives

• Students will identify jobs in the community

• Students will describe multiple ways that people earn income
• Students will define entrpreneurship
• Students will explain why some people choose to become entrepreneurs

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.
• 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

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 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
Topic 1—Jobs, careers, and income
A career is a field or profession to which a person devotes a major portion of his
or her adult life—for example, financial services, law, or medicine. A career may
include a number of different jobs or perhaps just one.

Pursuing a career can provide meaning and purpose to a person’s life. A career is
also a means of earning income, which enables a person to satisfy his or her
wants and needs. People receive income from the jobs they perform. Depending
on the job, a person may receive a wage, such as a certain amount of money per
hour worked. Others receive a salary, which is a regular payment of a set amount made weekly, biweekly,
or even monthly, regardless of the number of hours worked. People who sell things for a living may be
paid by commission, which is typically a percentage of their sales.

Ideally, a person should pursue a career that is related to a specific interest that they have. For any
interest, there are likely a large number of related jobs. For example, if a person loves science, he or she
could pursue a career in medicine, scientific research, or any number of other fields. Careers are
commonly classified in clusters according to the interests and skills involved. Exploring career clusters is
a good way to target research and investigation into career options.

Topic 2—Entrepreneurship
For many people, a career means employment at a business or organization that
already exists. For some, starting their own businesses becomes their life’s work.
People who take risks and expend energy to start their own enterprises are called
entrepreneurs.

Starting a business can be highly rewarding personally and financially. It also

can be—and often is—unsuccessful. In some cases, an entrepreneur can lose
money invested in the launching of a business or even go into debt. Typically,
entrepreneurs are people who enjoy the element of risk involved. They must have not only a great idea
for a new business and the knowledge required to run one, but also the energy, drive, and creativity
necessary to start a new business from scratch.

Topic 3—Other forms of income

People rely on their careers or jobs for income, but they are not the only ways
that people make money. People can earn money through interest when they
lend their money to others. A safe way of doing this is placing money in certain
types of bank accounts. Banks use the money from depositors to make loans to
others. Bank accounts are typically insured, meaning there is no chance of losing
any of the money placed there.

People can also invest money, which involves placing the money at risk in the
hopes that it will grow. People invest in a number of ways, such as buying

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company stock, which may rise or fall in value. People may lend out their money in the form of buying
bonds for which they receive interest. People may also invest in things like property or even artwork,
which could increase in value over time—but likewise, could also decrease in value.

People also receive income when they rent out property they own to other people. For example, a person
may own an apartment building that houses several families. Those families pay the landowner monthly
rent for use of their apartment. Another source of income for some people is gifts. Some young people
receive gifts at holidays, on birthdays, or on other occasions.

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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 field or profession to which a person A profession or field of

devotes a major portion of his or her employment for which one trains,
Career
adult life. such as financial services, law, or
medicine.

Money that is earned by making a sale, Payment based on a percentage

Commission usually expressed as a percentage of of sales.
the sale price.

A person who starts his or her own One who draws upon his or her
business. skills and initiative to launch a
new business venture with the
Entrepreneur aim of making a profit. Often a
risk-taker, inclined to see
opportunity when others do not.

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, renting
property, or getting gifts.

Money borrowers pay to lenders as the
price of a loan; money paid to someone
Interest
who leaves their money in a savings
account.
Money paid at a specified rate for
money that is borrowed,
deposited in a bank, or owed to a
lender.

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

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 Put your money to work in a way that Using money in a way that offers
Invest offers a chance for your money to potential growth in the amount
grow. with some risk of loss.

The money a person earns by working, A fixed regular payment, typically

which is usually paid on a regular basis paid on a monthly or biweekly
Salary such as every week or every two weeks. basis but often expressed as an
annual sum, made by an
employer to an employee

The amount of money a person is paid Payments for labor services that
for working for a specific period of are directly tied to time worked,
Wage time (hours, days, etc.). or to the number of units of
output produced.

Pre-module guiding questions

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

1. Do you know or have you met adults who have jobs that seem interesting to you? What do these
people do?
2. If you are like most people, you will work for perhaps 40 years or more. Why do you think it is so
important to choose a type of work that interests you?
3. Think about the kinds of activities and hobbies you like to spend your time on now. Can you think
of ways that you might make some of those interests or activities into a job you do for money?

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.

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Topic 1: Jobs, careers, and income
Students are introduced to some of the key concepts of the module, including career and income, as well
as the different forms in which people can receive income. Students explore how certain broad interests,
such as an interest in video games or cooking, are relate to a number of different careers. They then
investigate six career clusters.

Topic 1 Questions/prompts

1. Recall what Kreditt told you about connecting interests to careers. What are some potential careers
you might pursue that are related to your interests?
Possible answer: Accept all reasonable responses. Encourage students to think broadly about how
certain interests relate to specific careers.

2. Not all jobs and careers produce the same income. In fact, income and earning potential, can vary
widely from job to job. Does it matter to you how much money you make? Do you think you could
be satisfied doing something you loved if it did not pay well?
Possible answer: Accept all reasonable response. Encourage students to strike a balance between
their desire for income and their desire to pursue interesting or satisfying work.

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Topic 2: All about entrepreneurs
Students take a quiz to see if they have some of the qualities that entrepreneurs tend to have. Through a
video, they then meet two entrepreneurs, who discuss their careers and experiences starting their own
businesses.

Topic 2 Questions/Prompts

1. You have learned that starting a business involves some risk—but also the chance for big rewards.
Are you the kind of person who likes to take risks? Do you think you would be willing to take risks
with money?
Possible answer: Answers will vary, but students should be encouraged to understand that the
possible consequences of losing savings or defaulting on loans.

2. An entrepreneur gets to be the boss and make his or her own decisions about the business. Why do
you think this is appealing to some people.
Possible answer: Student responses will vary, but they may observe that it can be difficult at times
to follow orders and carry out the wishes of other people.

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Topic 3: Other forms of income
Students investigate other forms of income, including interest, investments, rental income, and gifts.

Topic 3 Questions/prompts

1. Kreditt pointed out several different types of income. What are the sources of income that you
receive?
Possible answer: Students should think about all possible income sources (e.g., an allowance, gifts,
income from small jobs such as raking leaves).

2. You learned about the idea of investing—taking a risk with your money in hopes of making more.
Would you be willing to risk losing some of your money if you knew you had a chance to make
more money?
Possible answer: Answers will vary: Students should consider that a person’s tolerance for risk
may change over time and may vary depending on the size of the risk.

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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 ten. Students who achieve
a minimum score of five points will earn a badge reflecting their understanding of the module content.
Students who earn four 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 identify the traits of entrepreneurship and other key terms related to
income and careers. These answers are correct because they accurately reflect the relationship
between each key term and the examples/descriptions. If students answer incorrectly, refer to
Topics 1 and 2 and the Glossary.

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 In Question 2, students identify jobs in the community and the skills needed to do them. These
answers are correct because they correctly pair the skills and interests required with the different
jobs. If students answer incorrectly, refer to Topic 1.

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 In Question 3, students describe multiple ways that people earn income. These answers are correct
because they accurately pair the descriptions of how people earn income with the type of income. If
students answer incorrectly, refer to Topics 1 and 3 and the Glossary.

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 In Question 4, students explain why some people become entrepreneurs. Options A, B, D, and F are
correct because they are the only options that accurately identify the realities of starting a business,
whereas Options C and E do not apply to an entrepreneur. If students answer incorrectly, refer to
Topic 2.

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 In Question 5, students identify jobs that are paid in different ways. These answers are correct
because they accurately match the kind of pay with the descriptions of the jobs. If students answer
incorrectly, refer to Topic 1.

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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. Students have learned about jobs and careers and how they can match to people’s interests.
Instruct students to interview an adult they know about his or her career and how he or she entered
it. Students should prepare for the interview by preparing a list of questions for the interview. The
questions should begin with what made the adult interested in the career and how the adult
prepared for the career. Remind students that specific questions about how much money an adult
earns are not appropriate, but it may be acceptable to ask general questions about how a person is
paid and whether the person is satisfied generally with his or her income. Students might also ask
the adult if they are satisfied with their career choice or might choose differently if they had it to do
again. When students have completed their interviews, they should write a one-paragraph
summary describing what they learned.

2. Have students choose a career that interests them and conduct research about it using the Internet
or other sources. (Assist students in finding and navigating appropriate websites that provide
information about different careers.) Students should collect information about the amount of
education and training required for the career they’re interested in. Students should also record the
projected earnings for the job and also projections about future job growth. Direct students to use
the information they have gathered to create a fact sheet on paper or online about their chosen
career. Have students post their fact sheets in class, and encourage students to review the different
jobs posted.

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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

Earning Income—Grade 4: People have many different types of jobs from which to choose. Different
jobs require people to have different skills.

Earning Income—Grade 4: People earn an income when they are hired by an employer to work at a
job.

Earning Income—Grade 4: Workers are paid for their labor in different ways such as wages, salaries,
or commissions.

Earning Income—Grade 4: People can earn interest income from letting other people borrow their
money.

Earning Income—Grade 4: People can earn income by renting their property to other people.

Earning Income—Grade 4: People who own a business can earn a profit, which is a source of income.

Earning Income—Grade 4: Entrepreneurs are people who start new businesses. Starting a business is
risky for entrepreneurs because they do not know if their new businesses will be successful and earn a
profit.

Earning Income—Grade 4: Income can be received from family or friends as money gifts or as an
allowance for which no specified work may be required.

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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: Jobs
Source: Kids.gov
Description: A collection of information, games, and videos for students about careers
Link: https://kids.usa.gov/jobs/index.shtml

Resource: K-12
Source: Bureau of Labor Statistics
Description: A collection of videos, games and quizzes, and student resources about careers and the
world of work
Link: http://www.bls.gov/k12/

Resource: Career Jeopardy

Source: O-Net and Mino, ND Career and Technical Education
Description: Games designed to help educate students about different career clusters
Link: http://pages.minot.k12.nd.us/votech/File/Jeopardy.htm#element

Resource: Engineer Girl

Source: Engineergirl.org
Description: Information for girls about careers in engineering
Link: http://www.engineergirl.org

Resource: Kids Work!

Source: Knowitall.org
Description: A virtual environment in which students can explore information about different jobs
found in the community
Link: http://www.knowitall.org/kidswork/

Resource: Be Your Own Boss

Source: PBSkids.org
Description: Game in which students practice starting, running, and growing their own business
Link: http://pbskids.org/itsmylife/games/boss/

Resource: Money Games

Source: PBSkids.org
Description: Game in which students practice starting, running, and growing their own business
Link: http://pbskids.org/itsmylife/games/boss/

Resource: World of Cents

Source: MyCreditUnion.gov

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

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

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