Students discuss key terms related to credit and learn how creditors use capacity, character, and collateral as criteria for making loans. Students learn about credit rights and responsibilities. Groups use role-play scenarios to identify and discuss the rights and responsibilities of using credit. Objectives Students will define credit and creditor, define interest, identify and … Continue reading Creditors’ Criteria and Borrowers’ Rights and Responsibilities
Students complete an activity sheet and discuss the advantages and disadvantages of using credit. Students read a scenario about a young person’s use of a credit card and answer some questions regarding repayment. Students learn about credit history, credit reports and credit-reporting agencies.
Students calculate compound interest to identify benefits of saving in interest-bearing accounts. They learn the “rule of 72” and apply it to both investments and debt. They learn that there is a relationship between the level of risk for an investment and the potential reward or return on that investment.
Students work in pairs to participate in a “Track Star” game that illustrates positive and negative spending behaviors. Each pair of students analyzes the “Track Star” results, identifies effective and ineffective budgeting behaviors, and generates a list of budgeting principles.
Students participate in an activity to learn about checking accounts, savings accounts and check-cashing services. Students learn the components of a check, and they organize and enter information into an account register for a fictitious person in order to determine the person’s balance. Students learn why maintaining account records is important. Students balance a monthly account statement.
Students compute the gross pay for a fictional John Dough given his hourly wage and the number of hours worked. They compare gross pay to net pay. They learn what FICA and federal income taxes are. They learn how to complete a W-4 form and what a W-2 form is.
Students are divided into four groups to produce name tents. Each group produces name tents in a different way to highlight different levels of human capital. Students identify ways in which people invest in their human capital. Students use the Bureau of Labor Statistics Occupational Outlook Handbook to analyze unemployment, educational attainment, and median weekly … Continue reading Invest in Yourself
Students will learn to calculate down payments using fractions. Teaching Objectives: Students will learn about down payments. Students will learn to calculate down payments using fractions. Students will review multiplying fractions and whole numbers. Suggested Grade Level 6th – 9th Grade Lesson Excerpt: Many times, we will see word problems that use terms that we … Continue reading Calculating Down Payments as a Fraction
In the weeks prior to the start of the unit, students track their expenditures during a two-week period. In class, students create a group presentation about personal and financial goals. Individually, students identify four personal goals and describe the related financial goals. With financial goals in mind, students work in pairs to complete a budget … Continue reading Developing a Budget
This lesson begins with dispelling common myths about millionaires through the interactive “Millionaire Quiz.” Students then have an opportunity to give their opinions of wealth in a brainstorming activity that culminates in a formalizing of the definition of wealth through the equation of “assets – liabilities = net worth.” Using a variety of interactives, students … Continue reading Budget to Save—The Balance Sheet