Purpose: Students identify effective money-management techniques.
1. Students identify resources that they might have to manage on a job.
Ask students to consider the following scenario:
You have been working at a local retail store for the past year. One of the managers recently quit, and your boss has asked you to be responsible for closing at night until he hires another manager. You have been in the store when others have closed but have never done it on your own. Closing is a major responsibility and the first step to becoming a manager.
Explain that at the end of the day, there are many tasks related to closing a retail store or any place of business. Ask students to name those tasks. (Students might respond: vacuum or mop the floors, fold clothing, straighten merchandise on shelves or racks, lock the doors, take out the trash, close out the register.)
Ask students to explain what the word “resources” means in the context of a job situation. (Students should say that it means the time, skills, people, or objects needed to complete tasks.) Remind students that they learned how to manage time in Module Six: Skills for School and Beyond, and that time is considered a resource. Ask students to identify other resources that they will have to manage now that they have been given the responsibility of closing up. (Students might respond: equipment, merchandise, people, security, money.)
2. Students identify strategies for managing money on the job.
Ask students to identify situations in which they might handle money on the job. Write student responses on the board. (Students might respond: closing out a cash register, running errands for the office, giving change to customers.)
Ask students to focus on one situation listed on the board.
Have students raise their hands when you read the item they have chosen. Group students interested in the same situation together.
Have each group write a dialogue or screenplay that explains why its situation requires effective money-management skills and demonstrates effective money-management strategies. If students are having difficulty generating reasons for having these skills, offer the following suggestions:
- Match receipts to register tapes, checks, credit card slips, and cash.
- Make sure you can account for every penny spent doing errands.
- Customers must get the correct change.
If students are having difficulty generating money-management strategies, offer the following suggestions:
- Count money very carefully.
- Keep an eye on the money drawer.
- Report any discrepancies immediately to a supervisor.