Learning About Financial Literacy Through the Benefits of Passive Income!
Help me give my students a freestanding vending machine, bubble capsules, gumballs, and mints to help them learn about the financial benefits of passive income!
My classroom is not defined by the four walls that surround us. Our learning goes well beyond those walls. We are inventors, researchers, creators, collaborators, philanthropists, technophiles, and scholars. My students are always reaching for more ways to learn.
My business classes have students from various grade levels, socioeconomic backgrounds, ethnicities, religions, and academic capabilities.
They come together in such an amazing way to create real results. My students support each other unconditionally and really have a desire to change the world around them.
My Project
Students in my Entrepreneurship classes routinely run small businesses to learn about the functions of a business and the importance of properly handling financial responsibilities. Students create their own products in our classroom Makerspace and sell them for a profit, donating their proceeds to local charities of their choice. They've been diligently working on their product proposals and building prototypes for the past couple of weeks. I was excited for them to share their proposals for custom t-shirts, homemade lip gloss, and fidgets. On the day the proposals were due, we learned that we'd be faced with an extended school closure due to Covid-19! This may leave them unable to produce their own products this semester due to lost time.
As entrepreneurs, they need to be flexible and pivot their business at a moment's notice.
Upon our return to school, I'll teach them more about the benefits of passive income! What better way to do that than to set up some passive income of our own? We'll set up a simple vending machine in our classroom with three product options: bubbles to be filled with mascot tattoos (already have these), mints, and gum.
Students will forecast a budget based on buying additional refills and what they anticipate prospective sales to be. When the semester ends, they will analyze the business using financial statements. This project hits many standards across business education: financial literacy, economics, entrepreneurship, marketing, accounting, management, and more!
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As a teacher-founded nonprofit, we're trusted by thousands of teachers and supporters across the country. This classroom request for funding was created by Ms. Collins and reviewed by the DonorsChoose team.
