What is the Fed and what does it do? In this lesson, students learn the role of the Fed, or Federal Reserve, which is the central bank of the United States, in managing the economy and preventing financial crises through monetary policy. It covers the various ways the Federal Reserve regulates financial institutions, influences interest rates, and stabilizes the economy.
CONCEPTS
Use this video lesson on the topic of understanding the Federal Reserve. Learn basic economic and related concepts of:
Central Bank
Monetary Policy
Interest Rates
Inflation
Federal Funds Rate
Economic Growth
GRADE LEVEL
7-12th grades
TIME REQUIRED
25-35 minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students.
PROCEDURE
Hand out the worksheet below (see the GET LESSON button near the bottom of the page).
Show students the video and have and have them complete the worksheet. Review the questions on the worksheet. A more comprehensive and detailed lesson plan can be accessed below for further instruction and study.
Objective: To introduce students to the Federal Reserve and its role in the U.S. economy, and to reinforce the key concepts covered in the video.
Grade Levels: Middle School – High School
Time Needed: 50 minutes
Materials Needed:
Video: “What is the Federal Reserve?”
Whiteboard or blackboard
Markers or chalk
Handout with key concepts from the video
Discussion questions handout
Activity materials (optional)
Procedure:
Introduction (5 minutes)
Begin the class by asking students if they have heard of the Federal Reserve and what they know about it. Write their responses on the board. Then, introduce the video and explain that it will help them understand what the Federal Reserve is and what it does.
Video Watching (10 minutes)
Play the video “What is the Federal Reserve?” (see above) and ask students to take notes on the key concepts discussed in the video. After the video, distribute the handout with the key concepts for students to review.
Discussion (20 minutes)
Divide the class into small groups of 3-4 students and distribute the discussion questions handout. Ask each group to discuss and answer the questions. After 15 minutes, bring the class together and ask each group to share their responses.
Activities (15 minutes)
Role Play
Divide the class into groups and assign each group a role related to the Federal Reserve (e.g. Board of Governors, regional bank, commercial bank). Ask each group to discuss their role and responsibilities, and then conduct a role play activity where they act out different scenarios related to the Federal Reserve’s decision-making.
Conclusion (5 minutes)
Ask students to reflect on what they have learned and how it relates to their everyday lives. Remind them that the Federal Reserve plays an important role in the economy and their financial well-being.
This introductory lesson teaches important tips on how to build credit by using credit cards and loans responsibly, how to maintain good credit by making payments on time and keeping credit utilization low, and how to monitor credit reports to ensure accuracy.
CONCEPTS
Use this video lesson on the topic of building and maintaining credit. Learn basic credit and related concepts of:
Credit
Maintaining credit
Credit reporting agencies
Credit utilization
Improving credit score
Monitoring credit reports
GRADE LEVEL
9-12th grades
TIME REQUIRED
25-35 Minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students.
PROCEDURE
Hand out the worksheet below (see the GET LESSON button near the bottom of the page).
Show students the video and have and have them complete the worksheet. Review the questions on the worksheet. A more comprehensive and detailed lesson plan can be accessed below for further instruction and study.
Objective: Students will understand what credit is, why it matters, how to build credit, and how to maintain good credit. Additionally, they will take a quiz to assess their understanding of the key concepts presented in the video.
Materials:
Video: “Building and Maintaining Good Credit”
Whiteboard or chalkboard
Markers or chalk
Handouts on credit reports and credit scores (see below)
Worksheet with multiple choice questions (see below)
Introduction:
Introduce the topic of credit and its importance in personal finance. Ask students if they have any experience with credit or know what it is. Show the video “Building and Maintaining Credit.”
Content:
Write the definition of credit on the board: “Credit is the ability to borrow money or obtain goods or services with the promise to pay later.” Discuss why credit matters, including its impact on interest rates, renting an apartment, and employment opportunities. Explain how to build credit using credit cards and loans, emphasizing the importance of making payments on time. Discuss how to maintain good credit by making payments on time and keeping credit utilization low. Show examples of things that can hurt credit scores, such as missed payments, defaulting on loans, and high debt-to-income ratios. Emphasize the importance of monitoring credit reports for errors and fraudulent activity. Provide handouts on credit reports and credit scores for students to take home.
Activity:
Divide students into pairs.
Give each pair a scenario, such as “You want to rent an apartment but have no credit history” or “You have missed a credit card payment and your credit score has dropped.” Have students work together to come up with a plan to address the scenario and improve their credit. Have each pair share their plan with the class and discuss the pros and cons.
Conclusion:
Review the key concepts of the lesson, including what credit is, why it matters, how to build credit, and how to maintain good credit. Emphasize the importance of responsible credit management and overall financial responsibility. Encourage students to continue learning about personal finance and credit management.
Assessment:
Observe student participation in class discussion and activity. Evaluate student comprehension of the material based on their answers to the scenario activity. Collect and review completed credit report and credit score handouts.
The lesson explains credit scores in an easy to understand way. Understanding your credit score is crucial for managing your finances, whether you’re just starting to build credit or have been doing so for a while.
CONCEPTS
Use this video lesson on the topic of credit score. Learn basic credit and related concepts of:
Credit score
Credit history
Credit reporting agencies
Importance of credit score
Improving credit score
Factors that hurt credit score
GRADE LEVEL
9-12th grades
TIME REQUIRED
15-25 Minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students.
PROCEDURE
Hand out the worksheet below (see the GET LESSON button near the bottom of the page).
Show students the video and have and have them complete the worksheet. Review the questions on the worksheet. A more comprehensive and detailed lesson plan can be accessed below for further instruction and study.
Objective: Students will understand the importance of credit scores and learn how to manage their finances to improve their credit score. Additionally, they will take a quiz to assess their understanding of the key concepts presented in the video.
Materials:
Video: “What is Credit Score?” (see above)
Computer and projector
Whiteboard and markers
Handouts on credit score management (see below)
Worksheet with multiple choice questions (see below)
Introduction (10 minutes):
Show the video “What is Credit Score?” to the class. Ask students to share what they learned from the video. Write key points on the whiteboard.
Main Activity (30 minutes):
Divide the class into groups of three. Give each group a handout on credit score management. Instruct each group to read and discuss the handout, highlighting key points. Each group will then present their key points to the class.
Quiz (15 minutes):
Give each student a worksheet with multiple choice questions based on the video. Instruct students to complete the quiz individually. Collect the quizzes and grade them.
Discussion (10 minutes):
After the quiz, facilitate a discussion on credit score management. Review the correct answers to the quiz and discuss any areas where students may need additional clarification. Ask students what they think are the most important factors in maintaining a good credit score. Discuss ways to improve credit scores, including paying bills on time, keeping credit utilization low, and monitoring credit reports.
Conclusion (5 minutes):
Recap the key points discussed in the lesson. Remind students that managing their finances is important and can affect their financial future. Encourage students to take steps to improve their credit scores.
Assessment:
Students will be assessed based on their participation in the group discussion, their ability to identify key points in the handout on credit score management, and their performance on the quiz.
The lesson explains what credit is and how it works, including the types of credit available and how to obtain it. It also emphasizes the importance of using credit responsibly and paying bills on time to maintain good credit standing and secure better interest rates and terms.
CONCEPTS
Use this video lesson on the topic of credit. Learn basic credit and related concepts of
Definition of credit and its function
Types of credit (revolving credit, installment credit)
How to obtain credit (application process, credit score, collateral, cosigners)
Importance of credit (financial objectives, responsible use, good credit standing, better interest rates, saving money)
GRADE LEVEL
7-12th grades
TIME REQUIRED
15-25 Minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students.
PROCEDURE
Hand out the worksheet below (see the GET LESSON button near the bottom of the page).
Show students the video and have and have them complete the worksheet. Review the questions on the worksheet. A more comprehensive and detailed lesson plan can be accessed below for further instruction and study.
Students will understand what credit is and how it works.
Students will be able to identify the main types of credit.
Students will be able to explain why credit is important.
Materials:
Video on “What is Credit”
Quiz on “What is Credit” (see below)
Whiteboard and markers
Handouts on credit
Procedure:
Introduction (10 minutes)
Start the class by asking students if they have ever heard of credit or used credit before. Discuss with the class what they know about credit and why it might be important. Explain that in this lesson, they will be learning more about credit and its different types.
Video on “What is Credit”
Show the video on “What is Credit” to the class. Pause the video at certain points to ask the class questions or to clarify certain concepts. After the video, ask the class if they have any questions or if there is anything they would like to discuss further.
Types of Credit (15 minutes)
Using the whiteboard, explain the main types of credit: revolving credit, installment credit, and open credit. Give examples of each type and ask the class if they can think of any other examples. Provide handouts on credit that further explain the different types and their characteristics.
Quiz on “What is Credit” (10 minutes)
Administer the quiz on “What is Credit” to the class. Go over the answers to the quiz and address any questions or concerns the students may have.
Importance of Credit (10 minutes)
Discuss with the class why credit is important, such as building credit history, obtaining loans or credit cards, and purchasing goods or services. Ask the class if they have any personal experiences with credit and how it has affected their financial lives. Provide tips on how to use credit responsibly and effectively.
Conclusion (5 minutes)
Summarize the main points of the lesson and emphasize the importance of understanding credit. Encourage the students to continue learning about credit and to use credit responsibly in their financial lives.
Assessment:
The quiz on “What is Credit” will serve as the assessment for the lesson. Observations during class discussion and participation will also be considered.
What is Credit?
Today we’re going to talk about credit. If you’ve ever used a credit card, taken out a loan, or financed something you purchased, then you have used credit. But what exactly is credit and how does it work?
Credit is the ability to borrow money or obtain goods and services with the understanding that payment will be made later. Using credit means taking out a loan or using a line of credit for purchases you cannot or don’t want to make right away.
Credit is a tool you can use to borrow money or purchase goods and services. Here are some types of credit you might consider using:
Revolving Credit: This type of credit permits you to borrow up to a specified limit and repay the debt over time. Credit cards are an example of revolving credit.
Installment Credit: Installment credit is a type of financing used to cover specific purchases such as cars or homes. With installment credit, you borrow money for your purchase and then repay it over an agreed-upon period with fixed payments.
So how do you Get Credit?
In order to obtain credit, you typically need to apply. The application process varies depending on the type of loan you seek but generally involves providing information about your income, employment history, and credit score. Lenders use this data in deciding whether or not they will approve your application and provide you with specific terms.
If your credit history or score are poor, it can be challenging to qualify for credit. But there are ways you can improve your odds of approval. One option is applying for a secured card or loan which requires collateral such as a deposit, or an asset such as a car in order to guarantee the credit. Another alternative would be asking someone in your family or a friend with good credit to cosign your application.
So Why Is Credit Important?
Credit plays a pivotal role in reaching your financial objectives. Whether you’re looking to purchase a house, lease an automobile or launch a business venture, having access to credit makes it simpler than ever to secure the funding necessary. But it’s essential that you use it responsibly and pay your bills on time in order to maintain good credit standing and avoid damaging your score which could make future qualifying difficult. Moreover, having good credit allows for better interest rates and terms which over time helps you save money .
Remember to use credit responsibly and pay your bills on time in order to maintain a good credit score and boost your financial wellbeing.
Filing taxes and navigating the complexities of the tax code can be overwhelming. In this video, we’ll share some tips to help you make the most of filing your tax return.
Using this as a warm-up or lesson starter is an effective way to engage students in a practical and relevant topic that directly affects their lives. By starting a lesson with tax tips, teachers can help students understand the importance of financial planning and budgeting, as well as how to take advantage of tax savings opportunities. This can help students develop important financial skills, make more informed financial decisions, and become more financially responsible. Overall, tax tips can be a great way to help introduce the concept of financial responsibility and improve students’ financial literacy.
CONCEPTS
Use this video lesson on the topic of tax tips. Learn basic tax and related concepts of
Taxes
Tracking Finances
Tax Deductions
GRADE LEVEL
9-12th grades
TIME REQUIRED
15-25 Minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students.
PROCEDURE
Hand out the worksheet below (see the GET LESSON button near the bottom of the page).
Show students the video and have and have them complete the worksheet. Review the questions on the worksheet. A more comprehensive and detailed lesson plan can be accessed below for further instruction and study.
Students will learn important tips for tax season to ensure they file their taxes accurately, claim all deductions and credits, and avoid common mistakes and penalties.
Materials:
Computer or mobile device for watching the video
Pen and paper for note-taking
Introduction:
Greet students and introduce the topic of tax season.
Explain that tax season can be confusing and stressful, but with the right tips and tools, it can be manageable and even stress-free.
Introduce the video as a comprehensive guide to navigating the tax season with ease.
Body:
Play the video “Tax Tips to Help Save Money”
After the video, allow time for students to ask questions and clarify any concepts covered in the video.
Provide a summary of the key points covered in the video:
Keep accurate records
Understand tax deductions
File on time
Use tax software
Seek professional help if necessary
Conclusion:
Review the importance of following these tips to ensure a successful tax season.
Encourage students to take action and implement these tips when filing their taxes.
Offer additional resources or opportunities for students to seek help if they need it.
Assessment:
Provide a short quiz to assess students’ understanding of the key points covered in the video.
Allow time for students to review their quiz results and ask any questions they may have.
By presenting the lesson as a video, students can easily follow along with the tips and concepts covered in the lesson. Additionally, the video can be used as a resource for students to refer back to when they are filing their taxes.
Money Instructor does not provide tax, legal or accounting advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors regarding your own situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing.
The lesson explains the concept of the debt ceiling, or debt limit, and the national debt, their implications on the US government’s financial operations and the potential consequences of hitting the debt ceiling. It also discusses extraordinary measures and possible solutions to address the national debt, including raising the debt ceiling, cutting spending, increasing revenue and implementing structural reforms to entitlement programs.
CONCEPTS
Use this video lesson on the topic of an introduction to the national debt and the debt ceiling. Learn basic economic and related concepts of
Debt Management
Budgeting
Government spending
Credit
Taxes
GRADE LEVEL
7-12th grades. Middle School. High School
TIME REQUIRED
30-45 minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students.
PROCEDURE
Hand out the worksheet below (see the GET LESSON button near the bottom of the page).
Show students the video and have and have them complete the worksheet. Review the questions on the worksheet. A more comprehensive and detailed lesson plan can be accessed below for further instruction and study.
Lesson Plan: Understanding the Debt Ceiling and National Debt
Objective:
Students will be able to understand and explain the concept of the debt ceiling, national debt, and its impact on the economy.
Materials:
Video: “Understanding the Debt Ceiling and National Debt” (see above).
Whiteboard and markers
Handouts with key terms and questions
Computer or mobile devices for research
Procedure:
Introduction (10 minutes)
Begin the class by asking students what they know about the national debt and the debt ceiling. Write down their responses on the board.
Introduce the topic by explaining that the government borrows money while it spends more than it earns, and that the national debt and debt ceiling play a crucial role in this process.
Video (15 minutes)
Show the video “Understanding the Debt Ceiling and National Debt.”
Encourage students to take notes during the video, paying particular attention to the key terms and concepts covered in the video.
Discussion (20 minutes)
Divide the class into groups of 3-4 students and distribute handouts with key terms and questions related to the video.
Ask the students to discuss the questions in their groups, using the handouts and their notes from the video as a reference.
Walk around the classroom and provide support and guidance as needed.
Research and Presentations (25 minutes)
Ask students to use their devices to research the impact of the national debt on the economy.
Instruct them to find at least three different sources of information and take notes on the key points.
Ask students to work in groups to prepare a brief presentation on the topic, including the key points they found during their research.
Each group should present their findings to the class, highlighting the different perspectives they found.
Wrap-Up (10 minutes)
Ask the students to summarize what they learned about the national debt and the debt ceiling.
Discuss the impact of the national debt on the economy and the role of the government in managing it.
Assessment:
Students will be assessed based on their participation in the discussion including the accuracy of their research, and the quality of their presentations.
Understanding the Debt Ceiling
In recent years the debt ceiling has been a contentious topic with political negotiations often breaking down and leading to the threat of government shutdown. Meanwhile, the national debt has kept rising due to ongoing budget deficits and an absence of fiscal responsibility. Raising the debt ceiling was a necessary measure to avoid an economic catastrophe, yet it also raised questions about government borrowing and its long-term effect on GDP of the United States.
Congress must navigate the complex budget process and consider debt reduction strategies in order to avert a debt ceiling crisis that could negatively affect credit ratings agencies, financial markets, and even lead to inflation or higher interest rates. Effective public debt management and responsible tax policy will be essential in solving these problems and guaranteeing long-term economic stability.
What is the debt ceiling?
A government’s debt ceiling is a legal limit on how much money they can borrow to finance operations. It sets an upper limit to how much debt a government may accumulate. In the United States, Congress periodically raises or suspends this limit in order to continue borrowing money. Without sufficient resources, governments may face defaulting on loans with severe economic repercussions.
What is the national debt?
The national debt is the total amount of money a government owes its creditors – individuals, businesses and other governments. It builds up over time due to spending more money than it receives in revenue. It includes both public debt owed to individuals and organizations outside of government as well as debt held by government accounts such as Social Security Trust Fund. In America alone, this total has increased steadily over the years until now stands in trillions of dollars.
What Happens if the Debt Ceiling Is Hit?
If the debt ceiling is breached and not raised or suspended, the government could find itself without enough money to meet its obligations such as Social Security, Medicare, government salaries and interest on the national debt. In such a scenario, they would have to prioritize which bills to pay and delay or default on. This could have serious economic repercussions such as higher interest rates, decreased value of US dollar, decline in financial markets and potential recession or depression.
What are extraordinary measures?
Extraordinary measures refer to accounting and cash management techniques the US Treasury Department can utilize temporarily in order to avoid breaching the debt ceiling. These measures may include suspending investments in certain government funds, such as the Civil Service Retirement and Disability Fund, and redeeming Treasury securities held by government accounts such as the Social Security Trust Fund. These measures enable the Treasury to free up extra cash to meet government obligations without borrowing additional money. However, these are only temporary solutions; if the debt ceiling isn’t raised or suspended, eventually there would be no other options left for paying its bills on time.
What can be done about the Debt Ceiling?
The debt ceiling can be raised or suspended through legislative action. In America, for instance, Congress has the authority to do this by passing a bill which then gets signed into law by the President. However, raising the debt ceiling can be a politically sensitive issue, with some lawmakers using it as leverage to extract concessions from their opponents. In addition to raising the debt ceiling, policymakers can also address the national debt by cutting government spending, increasing revenue through taxes or implementing structural reforms to entitlement programs such as Social Security and Medicare. Ultimately, finding a sustainable path forward requires an integrated and balanced approach that addresses both revenue and spending needs.
LESSON WORKSHEET
Worksheets include handouts and multiple choice quiz.
The Play Money Lesson Plan is an activity designed to teach students about different denominations of currency and how to create and interpret bar graphs. They are given printed play money, construction paper, glue, and a pencil; they sort their bills according to denomination, line them up vertically on the page, then glue them down for creating a bar graph. They then title their graph and label its sides while answering questions about its contents such as which bill type has the most money on it and how much total there is on their graph. This activity can be tailored for different grade levels.
Teaching Objectives:
Students will be able to identify and sort different denominations of currency, including $1, $5, $10, and $20 bills.
Students will learn how to create a bar graph by lining up and gluing down the sorted bills on a piece of construction paper.
Students will be able to interpret data from the bar graph, answering questions about which types of bills they have the most and least of, how many bills they have of a specific denomination, and how much money is on their graph.
Students will practice adding currency and using math skills to analyze and interpret data from the graph.
Students will engage in a hands-on, creative activity that helps them develop important critical thinking and problem-solving skills.
Suggested Grade Level
This lesson plan is suitable for elementary school students in grades 3-5.
Lesson Excerpt:
Students use printed play money to learn about different denominations of currency and create a bar graph. After sorting the bills, they glue them down for their graph and label its sides and title. Students will answer questions about their graph which helps them practice adding currency and using math skills to interpret data. This hands-on activity encourages critical thinking and problem-solving skills while encouraging creativity.
A playful, educational animated video that makes learning about taxes easy and fun for beginners. Students get a grasp on the fundamentals of taxes and take the first steps towards understanding why we pay taxes with this entertaining and informative lesson. This educational video lesson covers the basics of taxes, how taxes help our communities, why we pay taxes, and the importance of taxes, all in a lively and interactive format that beginners will love. Join us on a journey to learn about taxes in a fun and engaging way!
CONCEPTS
Use this video lesson on the topic of an introduction to taxes. Learn basic tax and related concepts of
Why we pay Taxes
Sales Tax
Government Tax Collection
Public goods and services
GRADE LEVEL
3-8th grades. Elementary School. Middle School.
TIME REQUIRED
45-60 Minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students.
PROCEDURE
Hand out the worksheet below (see the GET LESSON button near the bottom of the page).
Show students the video and have and have them complete the worksheet. Review the questions on the worksheet. A more comprehensive and detailed lesson plan can be accessed below for further instruction and study.
Lesson Plan: Introduction to Taxes: Making Purchases
Objective: Students will be able to understand the importance of taxes and how they apply to everyday purchases.
Materials: • Video of “Introduction to Taxes | Why Do We Pay?” (see above). • Handout with multiple choice quiz
Introduction (10 minutes): • Begin the class by introducing the topic of taxes and how they apply to everyday purchases. • Ask students if they have ever made a purchase and if they were aware that taxes apply to those purchases. • Show the video “Introduction to Taxes | Why Do We Pay?” and ask students to pay attention to the information provided about taxes and everyday purchases.
Discussion (15 minutes): • After the video has been shown, lead a class discussion about what students learned from the video. • Ask questions such as: What are taxes used for? How do we pay taxes on everyday purchases? How does the government use the money from taxes? • Encourage students to share their own experiences with taxes and how they apply to everyday purchases.
Assessment (15 minutes): • Distribute the handout with the multiple choice quiz to assess students’ understanding of the material. • Allow students to complete the quiz individually or in small groups. • Review the answers as a class, discussing any questions or misconceptions.
Conclusion (5 minutes): • Summarize the main points of the lesson and emphasize the importance of understanding taxes and how they apply to everyday purchases. • Encourage students to continue to educate themselves about taxes and how they can be used to benefit the community.
Assignment: • As an extension activity, ask students to research a local community project that was funded by taxes and present their findings to the class.
Introduction to Taxes
Taxes are a way for the government to collect money from individuals and businesses to pay for public goods and services like roads, schools, and healthcare. An example of a tax is the sales tax, which is a small amount of money added to the price of goods and services you buy, like toys or food. The money collected from sales tax is used by the government to improve the community and provide services for everyone.
Sales tax is a type of tax that is added to the price of goods and services you purchase. It is a way for the government to collect money from individuals and businesses to pay for the provision of public goods and services, such as roads, schools, and healthcare.
In the United States, sales tax is imposed by state and local governments, and the rate of tax can vary depending on where you live. The tax is calculated as a percentage of the purchase price of the item, and the amount of tax you pay will depend on the price of the item and the tax rate in your area.
It is important to note that sales tax is a consumption tax, which means that it is levied on goods and services as they are purchased. This type of tax is considered to be a more fair and efficient form of taxation because it is based on the principle of spending ability. In other words, individuals who can afford to spend more money on goods and services will pay more in sales tax.
Sales tax plays a critical role in financing the provision of public goods and services, and it is an important source of revenue for state and local governments. The money collected from sales tax is used to improve the community and provide services for everyone.
Sales tax is an important form of taxation that plays a vital role in financing public goods and services. It is a type of tax that is levied on the purchase of goods and services, and it helps to ensure that everyone contributes their fair share to the funding of essential services for the benefit of the community.
A lesson on the basics of how to file taxes if you are new to the process or unsure of what to do. Topics include tax preparation, necessary documents, tax deductions, tax credits, and tax return filing status.
CONCEPTS
Use this video lesson on the topic of taxes. Learn basic tax and related concepts of
Taxes
IRS
Tax filing methods
Tax preparation
Filing status
Deductions and credits
1040 form
GRADE LEVEL
9-12th grades. High School. Adult Education.
TIME REQUIRED
45-60 Minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students.
PROCEDURE
Hand out the worksheet below (see the GET LESSON button near the bottom of the page).
Show students the video and have and have them complete the worksheet. Review the questions on the worksheet. A more comprehensive and detailed lesson plan can be accessed below for further instruction and study.
Objective: Students will understand the process and importance of filing taxes by watching a video lesson, and will learn how to gather necessary documents and determine their filing status by completing a worksheet and participating in a class discussion.
Materials:
Video lesson on “How to File Taxes” (see above).
Handouts on types of income forms (W-2, 1099-MISC, 1099-INT, 1099-DIV, 1098E)
Tax preparation software or online resources
Worksheet on filing taxes (see below).
Introduction (10 minutes):
Begin the lesson by discussing the importance of taxes and why they are filed.
Ask students if they have any experience with filing taxes or if they have any questions or concerns.
Direct Instruction (10 minutes):
Show the video lesson on “How to File Taxes”
Guided Practice (20 minutes):
Have students complete the worksheet on filing taxes, which will include questions about the types of income forms, how to gather necessary documents, and determining their filing status.
Have students work in pairs or small groups to discuss their answers and provide feedback.
Independent Practice (20 minutes):
Assign students to use tax preparation software or online resources to complete a mock tax return.
Closure (10 minutes):
Have a class discussion on the key concepts and main takeaways from the lesson and the video.
Encourage students to ask any remaining questions and address any concerns they may have.
Remind students of the importance of filing taxes and the consequences of not doing so.
Assessment:
Review completed worksheets for accuracy.
Observe students during independent practice to ensure they understand the process of gathering necessary documents and determining their filing status.
Use formative assessment techniques like oral questions, self-reflection and exit slip to evaluate students’ understanding.
Note: The video length and the duration of the other activities might vary depending on the type of class and students, so adjust the time accordingly.
How to do Taxes
Taxes are something we all have to deal with, whether we like it or not. They’re the money we pay to keep our government running. To get ready for tax season, you’ll need to gather all the necessary paperwork, like your W-2, 1099 forms, and any other documents that show your income and how much taxes have already been taken out. Once you have everything together, you’ll need to figure out your filing status. This will help you figure out what tax rate you’ll be paying and what deductions or credits you’re eligible for. After that, you’ll have to decide how you want to file your taxes. You can use tax software, file a paper return, or hire a professional to do it for you. Once you’ve chosen your method, you’ll fill out the forms, like the IRS 1040 tax form. Before you file, make sure you double-check everything to make sure it’s all accurate and complete. And finally, you can file your taxes electronically or mail it to the IRS.
Money Instructor does not provide tax, legal or accounting advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors regarding your own situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing.
A playful and engaging animated video that makes learning about stocks easy and fun for beginners. Learn the fundamentals of stocks and take the first steps towards understanding the stock market with this entertaining and informative video lesson.
This video is designed to make the concept of stocks easy for anyone to understand. Covering the basics of stocks, this video is a comprehensive introduction to the world of stocks, also known as Stocks 101. It breaks down the complex concepts of stocks and finance into simple and easy-to-digest explanations, in a fun, kid-friendly way. Get a grasp on the basics of stocks with this fun and informative guide.
CONCEPTS
Use this video lesson on the topic of basics of stock investing. Learn basic economic and related concepts of
Stocks
Investing
Stock Market
Economy
GRADE LEVEL
6-12th grades. Middle School. High School. Adult Education.
TIME REQUIRED
45-60 Minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students.
PROCEDURE
Hand out the worksheet below (see the GET LESSON button near the bottom of the page).
Show students the video and have and have them complete the worksheet. Review the questions on the worksheet. A comprehensive and detailed lesson plan can be accessed below for further instruction and study.
Students will understand the basics of investing in stocks, including the concept of buying and selling ownership in a company, the potential risks and rewards, and the factors to consider when choosing which stocks to buy.
Materials:
Whiteboard and markers
Video: Introduction to Stocks (see above)
Computers or devices with internet access for research
Introduction (10 minutes):
Begin the class by asking students if they have heard of stocks before and what they know about them. Write their responses on the whiteboard.
Introduce the video about some friends discussing stocks and ask students to pay attention for key concepts and terms.
Direct Instruction (20 minutes):
Review the video as a class and pause to discuss key concepts and terms such as stock ownership, buying and selling stocks, the value of stocks, and the risks and rewards of investing in stocks.
Write key concepts and terms on the whiteboard for reference.
Provide handouts with additional information on stocks and the stock market for students to read and reference.
Guided Practice (20 minutes):
Have students work in small groups to research a specific company and its stock performance. Each group should present their findings to the class, including information on the company’s financial statements, management team, products or services, and competitive advantage in the market.
Independent Practice (20 minutes):
Provide students with a hypothetical investment scenario and have them choose which stocks they would buy and why. Have students present their choices to the class and justify their decisions based on the factors discussed in the lesson.
Closure (10 minutes):
Review key concepts and terms from the lesson and ask students to share what they learned. Remind students that investing in stocks can be risky, but with proper research and understanding, it can also potentially be a good way to build wealth over the long term.
Encourage students to continue learning about personal finance and investing in the future.
Assessment:
Observe student participation and engagement during group research and presentations.
Review student choices and justifications for hypothetical investment scenario.
Collect and grade written responses to a reflection question on the key takeaways from the lesson.
Introduction to Stocks
Stocks represent ownership in a company. Buying stocks means buying a small piece of the company, whose value can increase if the company does well, allowing the investor to sell for a profit. However, if the company performs poorly, the stock value may decrease. Investing in stocks can be risky but can also build wealth over time. It’s important to research and consider risks before investing and to work with a financial advisor or broker for informed investment decisions.
Information is for educational and informational purposes only and is not be interpreted as financial advice. This does not represent a recommendation to buy, sell, or hold any security. Please consult your financial advisor.
