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
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
Students learn about credit scores. Teaching Objectives: Describe the purpose of a credit report. Define the role of credit scores. Explain the importance of a good credit score. Standard 7: The student will identify the procedures and analyze the responsibilities of borrowing money. Suggested Grade Level 6th – 12th Grade Lesson Excerpt: When people apply … Continue reading Your Credit Score
Students learn about sources of credit and calculating interest rates. Teaching Objectives: Identify potential sources of credit. Compare credit sources. Evaluate credit practices. Calculate credit costs. Demonstrate the ability to make good credit choices. Standard 7: The student will identify the procedures and analyze the responsibilities of borrowing money. Suggested Grade Level 6th – 12th … Continue reading Sources of Credit: It Is In Your Interest?
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