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 … Continue reading What is the Federal Reserve Lesson
Basic Money Lessons
Welcome to our page on basic money skills! We believe that understanding what money is and related topics is essential to building a strong foundation in financial literacy. Our resources are designed to provide a comprehensive understanding of money, including its history, forms, and functions in our economy. Whether you’re a teacher, parent, or financial educator, our collection of lesson plans, worksheets, and activities will equip you with the tools you need to teach these critical skills and empower students to make informed decisions about their financial future.
Play Money Lesson Plan: Create a Money Graph
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 … Continue reading Play Money Lesson Plan: Create a Money Graph
What is Currency? Exchange Rates
This lesson covers the concept of currency, including its role in an economy as a medium of exchange and store of value, and different types of currency such as traditional currencies and digital currencies like Bitcoin. It also covers the foreign exchange market and how it determines the exchange rate between different currencies, as well … Continue reading What is Currency? Exchange Rates
What is Simple Interest? How to Calculate
Learn the basics of simple interest, and how it is calculated using the simple interest formula. CONCEPTS Use this video lesson on the topic to discuss the financial terminology and basic economic and related concepts of Interest Saving Money Principal PROCEDURE Hand out the worksheet below (see the GET LESSON button near the bottom of … Continue reading What is Simple Interest? How to Calculate
What is Interest? Introduction to Interest Rates.
Learn the basics of interest, how you earn interest, and compound interest. An introduction to interest rates. CONCEPTS Use this video lesson on the topic to discuss the terminology and basic economic and related concepts of Interest Interest Rates Saving Bank Loans PROCEDURE Hand out the worksheet below (see the GET LESSON button near the … Continue reading What is Interest? Introduction to Interest Rates.
What Interest Rate Increases Mean for You
What to expect as the Federal Reserve (the central bank of the United States) increases interest rates. How it impacts your budget, and your money. Understand why the Federal Reserve is increasing rates, so we all will see our borrowing costs potentially rise. Here are some ways that rate hikes could affect you, your money, … Continue reading What Interest Rate Increases Mean for You
Types of Money | Commodity, Representative, Fiat, and Bank Money
What is money? Economists differentiate among several different types. Learn about the four main types of money including commodity money, representative money, fiat money, and bank money. Also learn why intrinsic value is important for understanding the types of money. CONCEPTS Use this video lesson on the topic to discuss the basic economic concepts of … Continue reading Types of Money | Commodity, Representative, Fiat, and Bank Money
Main Functions of Money
Learn what is money and what are its four main functions. Money serves all these functions: it is a medium for exchange, store of value, unit of account, and standard for deferred payments. CONCEPTS Use this video lesson on the topic to discuss the basic economic concepts of Money Barter Inflation PROCEDURE Hand out the … Continue reading Main Functions of Money
Getting Ready for Taxes: Documents you Need
The first step towards filing your tax return is to gather all the documents that you will need. Here, students learn what documents, paperwork, and receipts are needed to file your income tax return. It is a checklist of documents for completing IRS form 1040 Income tax. Learn to prepare and organize your tax documents, … Continue reading Getting Ready for Taxes: Documents you Need
Spending Money Wisely: Dog goes to Super Bowl
A dog goes to the Super Bowl. A fun class or lesson starter for the YouTube and TikTok generation. Discuss with students if price discounts are really a good deal, or just a pricing trick? CONCEPTS Use this video on the topic to discuss the money concepts of Needs and wants Understanding discounts Making impulsive … Continue reading Spending Money Wisely: Dog goes to Super Bowl