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 … Continue reading Understanding the Debt Ceiling (Debt Limit) and the National Debt of the United States
Welcome to our comprehensive guide on teaching about credit! As a trusted source of financial literacy materials, we understand the importance of educating young people about the responsible use of credit. Our collection of lesson plans, worksheets, and engaging activities are designed to help students understand the impact of credit on their financial future and make informed decisions about managing their credit responsibly. Whether you’re a teacher, parent, or financial educator, our resources will equip you with the tools you need to teach this vital financial skill.
Learn the basics of how to prepare yourself for a recession, economic loss, or potential job loss. Learn important steps and tips to help prepare and protect yourself for a decline in the economy, a layoff, job loss, unemployment, or other related event. CONCEPTS Use this video lesson on the topic to discuss the financial … Continue reading How to Prepare for a Recession
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
Students review the elements of a contract. They discuss the characteristics of rent-to-own contracts and compare the cost of those contracts with the outright purchase of goods. Objectives Students will define contract and annual percentage rate (APR), explain the elements of a contract, evaluate the terms and costs of a rent-to-own contract, and compare rent-to-own … Continue reading To Rent-to-Own or Not to Rent-to-Own?
Students learn what a payday loan is and the high cost involved in using such a loan. Working in groups, students calculate an annual percentage rate (APR) on a short-term loan.
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.
In this lesson students investigate the legal and financial responsibilities of buying, maintaining, insuring, and operating a car, and translate those responsibilities into a monthly budget. Teaching Objectives: List some of the costs of owning and operating a car Given a budget, decide how much you can afford to pay for a car List some … Continue reading Cars & Loans – Costs & Responsibilities
In this lesson students develop skills to compare and evaluate the terms and conditions of various credit cards, the differences between credit cards, and the legal and financial responsibilities involved. Teaching Objectives: List three types of credit card accounts, and explain the uses and payment methods of each Understand how to shop for a credit … Continue reading Credit Cards – Understanding & Responsibilities
In this lesson students gain an awareness and understanding of what credit is and the rights and responsibilities of using credit. Teaching Objectives: Understand some of the reasons for getting credit Understand some of the advantages and disadvantages of using credit Understand why banks issue credit List and understand some of your rights and responsibilities … Continue reading Credit – Understanding Rights & Responsibilities