I. Summary:
As Benjamin Franklin once said, “Time is Money”…and this lesson demonstrates the relationship of these two concepts. The need to earn money and spend it wisely is important; however, the need to have and manage time is even more important. Often, time translates to money, a concept that students need to understand. In this lesson, students develop an appreciation of time by comparing and contrasting time to money, and understand how to “budget their time” wisely. The lesson concludes with hands-on reinforcement of time management concepts through game play. This lesson will ensure that students realize that “there is a time and place for everything,” but that time, like money, is an important resource to be appreciated and managed.

II. Objectives:

• Students will analyze the influence various factors involved in time management.
• Students will draw conclusions, practice predictions, and improve problem-solving skills concerning time and money.
• Students will write, read, and speak to acquire knowledge, clarify thinking, synthesize information, improve study skills, gain confidence, and enhance lifelong communication.
• Students will be able to identify and implement effective time management behaviors.
• Students will practice skills that reflect an appreciation of time and money that will lead to becoming responsible adults.
• Students will demonstrate mutual respect for one another while cooperating and working in learning group games and activities.

III. Materials Needed:

• Pencil and paper
• Copies of the "Time Management Game" for each group of students
• Game pieces (pennies or beans work great)
• Computer with Internet access
• Poem “Timely Advice”
• Blank file folders, construction paper, and staples for students to create their own games
• Crayons, markers, glue, and other materials that may be useful for the artwork of games

IV. Procedure:

(Class 1)

1. The teacher will ask students to problem solve and answer one or both of these riddles:
   (a) What flies but has no wings?

   (b) This thing devours all, birds, beasts, trees, flowers, gnaws iron, bites steel, grinds hard stones to meal, slays kings, ruins towns, and beats high mountains down. (Students will enjoy knowing or might recognize that the last riddle is from The Hobbit by J. R. R. Tolkien).

   Discuss that the answer to both of these riddles is “time.”

2. Have students come up with and explain some popular sayings about time (time flies, no time like the present, in the nick of time, Father Time, sands of time, etc.) Discuss with the students Ben Franklin’s saying, “Time is Money.” Encourage students to comment on what this means. Have students comment on which they think is the most important (time or money) and have them defend their reasons.

3. Have students make a Venn diagram to compare money and time. The teacher might want to provide some hints to get students started. Likenesses: both time and money differ in different parts of the world, one often has an effect on the other, time and money can be budgeted, time and money can both be given to others, time and money are measurable Differences: time is not concrete and money is, all people have the same amount of time, and lost time can’t be recovered like money can.

4. Have students share their Venn diagram findings with the class.

(Class 2)

5. Provide students with a copy of the poem “Timely Advice.” Encourage students to share their time management problems and situations. Have students visit the PBS Kids GO Web site It’s My Life. Show students the video clip on Time Management.
   URL: http://pbskidsgo.org/pbskids2008/itsmylife/video

   After viewing the video clip, use the following discussion questions as follow-up:

   a. List your activities (club meetings, church, sports, practices, etc) that you have planned outside of school.

   b. What do you do for fun when you leave school (not including the above activities)?

   c. How do you stay organized? Do you keep planners, agendas, calendars?

   d. What type of organizational tips would you offer other students? Do you have tips that help you? (Example: Do you schedule the easiest task for last? Or the hardest? Why?)

   e. Do you feel you have enough time or do you think your lack of time makes you feel stressed or overwhelmed? If you are feeling stressed from a lack of time, what techniques might be helpful?

   f. If you think of time as money, do you think you spend your time wisely? What are some changes that you might make?

   g. If someone gave you ten extra dollars today, how would you spend them? If someone gave you three extra hours today, how would you spend them?

6. Explain to students that they are to think of time as money as they discuss these questions:
   a. Are we ever guilty of freely giving away our time? Should we be so free with time and/or money? Ask students to think of ways that they “waste” time and/or money. Are there similarities and differences in the ways we spend or save our time and money?

   b. Should and can students “bank” time much like money? Is there an activity that the students would do if they could find time or money?

7. Show students that they can mange time more effectively with printable time management tools from the It’s My Life Web site (daily schedule. weekly planner, and monthly calendar). Provide time for students to complete these. Have students begin with the time management journal page. Then assist students in completing the daily pie chart, preparing a blank daily schedule, doing a weekly planner, and then finishing with their monthly calendar. Have students complete the homework chart available as well. Make sure students put these in a convenient place so that they can be useful and easily located. Also, if time permits, students might enjoy the “Time Management” crossword puzzle on this site.

   URLs:
   Daily Schedule and Pie Chart: /pbskids2008/itsmylife/school/time/article5.html
   Weekly Planner: /pbskids2008/itsmylife/school/time/article6.html
   Monthly Calendar: /pbskids2008/itsmylife/school/time/article7.html
   Homework Chart: /pbskids2008/itsmylife/school/time/print_homework_chart.html
   Crossword Puzzle and Answers: /pbskids2008/itsmylife/school/time/print_crossword.html

8. Have students brainstorm ways for them to save time. Ask students to list some classroom management organizers. Lead students to think about a “to do” list, clean lockers, prioritize tasks, and establish a homework system to save time. Help students work on a “goal” list. (To reinforce the parallel between money and time, students might find it helpful to create T-charts for a goal list. They can put money lists on one side and time lists on the other.)

(Class 3)

9. Introduce students to creating file folder games. Explain that the “Time Management” sample game reinforces time management concepts. The students will create a maze of original questions and answers similar to the sample game. They will design their maze with their own questions and answers about time. They will be given a file folder. They will staple their game in the file folder to create a stiff playing board.

10. Students should form teams of 3-4 students. Have student groups play the file folder sample.

11. After students have become familiar with the game format. Have students make their own “Time Management” file folder game. (These can be made using a graphics computer program if enough computers are available.)

(Class 4)

12. Have the groups exchange games and play another group’s game.

13. To ensure that students understand the value of time. Periodically have the students make new time management games or once again play the original ones as a reminder of some valuable classroom management skills.

V. Classroom rubric for assessment of this lesson

Name ____________________________________

Task	Begining "1"	Developing "2"	Accomplished"3"	Exemplary "4"
The student participates in group discussions and class activities.	The student is reserved and does not participate in discussion or activities.	The student participates in either the discussion or activities.	The student participates in class discussions and shows and in class activities.	The student actively participates in the discussion and shows qualities of leadership in class activities.
The student demonstrates an understanding of similarities and differences between money and time by constructing a Venn diagram.	The student has less than two similarities and differences between time and money.	The student has between two and four similarities and differences between time and money.	The student has between four and six similarities and differences between time and money.	The student has over six similarities and differences between time and money demonstrating a great deal of understanding of both time and money.
Understanding of time management is demonstrated through conduct and efforts in playing the file folder game.	Student lacks team spirit, knowledge of time management, or doesn’t participate.	Student exhibits some team spirit or adequate knowledge of time management with fair participation and self-discipline in game play.	Student exhibits team spirit and/or lots of knowledge of time management with much participation and self-discipline in game play.	Student exhibits much team spirit and team leadership. Student demonstrates much time management understanding and shares this while participating in game play.
Understanding of time management is demonstrated through the completion f an original time management file folder game.	Student lacks team spirit, knowledge of time management, or doesn’t participate in creating the file folder game.	Student exhibits some team spirit or adequate knowledge of time management with fair participation and self-discipline in working together to create a file folder game.	Student exhibits team spirit, creativity, originality, self-motivation, self-discipline, effort, and knowledge of time management while designing the file folder game.	Student exhibits team spirit, creativity, originality, self-motivation, self-discipline, effort, leadership, and knowledge of time management while designing the file folder game.

VI. Extensions and Adaptations

1. Have students use their Venn diagrams that express similarities and differences between money and time to write a three to five paragraph essay on “Time and Money”.

2. The students will expand their study of “Time and Money” by becoming critical readers, practicing becoming good consumers, and deciding when time is more valuable than money.

3. Have students create file folder games with the concept of money or using both money and time.

4. Have students write some original poetry about time or money, and have them share some of them with the class. If students need a review of poetry and poetry techniques, have them visit the PBS NewsHour Extra Web site. URL: http://www.pbs.org/newshour/extra/poetry

5. Reinforce the concept that “time is money” by encouraging students to step into the roles of worker and consumer. If you work normal hours, you will have approximately 200 productive days each year. If you work 7 hours each day, this equates to 1,500 hours in a year. Using these figures, calculate an hourly rate to reveal an estimate of what time is worth. Ask students to comment on how much they think time is worth.

6. Allow students to visually organize their locker. Have them fold a piece of plain paper vertically to make a long folded paper. Put the fold on the side where the locker opens. Draw the front of locker. Then illustrate how you might arrange the inside of your locker for better time management. (Example: stand books up so that binders show and take up less room at the bottom).

7. Have students organize a desk drawer and/or their notebook.

8. Have students think about a filing system for their homework and/or classwork. Have students keep homework in the same place always.

VII. Relevant National Standards

From McREL

http://www.mcrel.org/compendium/browse.asp

Writing

• Standard 1.11 Writes reflective compositions (e.g., uses personal experience as a basis for reflection on some aspect of life, draws abstract comparisons between specific incidents and abstract concepts, maintains a balance between describing incidents and relating them to more general abstract ideas that illustrate personal beliefs, moves from specific examples to generalizations about life)

• Standard 4.1 Uses appropriate research methodology (e.g., formulates questions and refines topics, develops a plan for research; organizes what is known about a topic; uses appropriate research methods, such as questionnaires, experiments, field studies; collects information to narrow and develop a topic and support a thesis)

Reading

• Standard 3.1 Establishes and adjusts purposes for reading (e.g., to understand, interpret, enjoy, solve problems, predict outcomes, answer a specific question, form an opinion, skim for facts; to discover models for own writing)

Life Skills

• Standard 1.0 Contributes to the overall effort of a group.

Economics

• Standard 1.0 Understands that scarcity of productive resources requires choices that generate opportunity costs

• Standard 1.1 Understands that choices usually involve trade-offs.

Math

• Standard 1.4: Uses a variety of strategies in the problem-solving process. Formulates a problem, determines information required to solve the problem, chooses methods for obtaining this information, and sets limits for acceptable solutions

• Standard 3.1: Uses basic and advanced procedures while performing the processes of computation : adds, subtracts, multiplies, and divides integers, and rational numbers

About the Author:
Betsy Norris enjoys teaching language arts and technology to sixth, seventh, and eighth graders at Harris Middle in Shelbyville, Tennessee. She has published material for Teacher Created Materials, TeachingPoint, and PBS TeacherSource.

http://pbskids.org/itsmylife
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