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Personal Finance Lesson Plans

By Renee Young,2014-05-17 11:22
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Personal Finance Lesson Plans

    Personal Finance Lesson Plans

    Strategies Cooperative learning, Discovery learning, Engaged learning, Guided Writing,

    Guided Reading

    PowerPoint, Lecture/Discuss

    State Standards Week 18

    Monday

    Lesson 6 Quiz

    Lesson 7 Choosing and Balancing a Checking Account

    ? Reconcile a checking account

    ? Identify what to look for when choosing a checking account

    ? Understand the fees a bank charges

    ? Figure out the costs of short term loans Read lesson 7, written exercise, computer application

    Wednesday

    Lesson 7 Quiz

    Lesson 8 Getting a Credit Card

    ? Understand how credit and credit cards work

    ? Compare credit card offers and apply for a credit card

    ? Name advantages and disadvantages of using credit

    ? Explain what is wrong with making only a minimum payment on a credit card

    balance

    Read lesson 8, written exercise, computer application

    Friday

    Lesson 8 quiz

    Lesson 9 Fixing your credit

    ? Understand the importance of a credit history

    ? Lean how to create a credit history

    ? Understand what a credit report records

    ? Resolve errors on a credit report

    ? Understand the importance of a FICO score

    ? Lean how to increase a FICO score Read lesson 9, written exercise, computer application

Lesson 9 quiz Tuesday May 14

Week 17

    Tuesday

    Lesson 4 quiz

    Lesson 5 Buying a Car

    ? Find a car that fits your needs

    ? Decide whether a new or used car is right for you

    ? Decide whether buying or leasing is right for you

    ? Understand the hidden costs of operation and maintenance Read lesson 5, written exercise, computer application

    Lesson 5 quiz Tuesday April 28

    th

    Thursday

    Lesson 5 quiz

    Lesson 6 Shopping

    ? Understand the difference between needs and wants

    ? Identify the factors that influence your decisions to buy something

    ? Research and comparison shop

    ? Understand your rights as a consumer

    ? Make the most of your warranty Read lesson 6, written exercise, computer application

    th

    Week 16

    Monday

    Lesson 2 Quiz

    Lesson 3 Budgeting and Saving Lesson 6 quiz Monday May 4? Estimate your monthly income

    ? Estimate monthly expenses

    ? Develop a budget

    ? Set up a basic savings account

    Read lesson 3, written exercise, computer application

    Wednesday

Friday

    Lesson 3 Quiz

    Lesson 4 Finding an Apartment

    ? Determine the most you are able to spend on an apartment

    ? Choose wisely between different apartment options

    ? Understand and sign a lease

    ? Choose an insurance policy that meets your needs as a renter Read lesson 4, written exercise, computer application

Week 15

    Tuesday

    Virtual Business State Standards

    http://www.knowledgematters.com/downloads2/SDCorrelationVBPF.pdf

    Virtual Business A personal finance and life skills curriculum that is centered on a visual

    computer simulation, reading assignments, and related vocabulary. Lesson 1 Time

    Management and Health

    ? Manage your time wisely

    ? Why it is important to get enough sleep and eat healthy foods

    ? Recognize when you are under stress and how to relax

    ? Strike a balance in your life with work, education, play, and rest

    ? Key terms opportunity cost, time as an investment, time management, values,

    goals, sedentary, stress

    Read lesson 1, written exercise, computer application

    Quiz Thursday

    Thursday

    Lesson 1 Quiz

    Lesson 2 Finding a Job

    1. Understand the difference between a job and a career

    2. Create a resume and cover letter

    3. Understand the process of seeking a job

    4. Interview successfully

    5. maintain a successful on the job attitude

    Read lesson 2, written exercise, computer application

    Week 14

    Monday

    PBS video ―Sick Around America‖

    As the worsening economy leads to massive job lossespotentially forcing millions more

    Americans to go without health insuranceFRONTLINE travels the country examining the

    nation's broken health care system and explores the need for a fundamental overhaul.

    Veteran FRONTLINE producer Jon Palfreman dissects the private insurance system, a

system that not only fails to cover 46 million Americans but also leaves millions more

    underinsured and at risk of bankruptcy.

    Wednesday

    Dakota Step Test

Unit 4 Protecting Your Finances provides basic information about ways to protect your

    financial resources. The next four chapters will discuss the importance of taxes, for

    personal financial planning; home and motor vehicle insurance; health, disability, and life

    insurance; and retirement and estate planning.

    State Standards

    10.48 Identify risks in life and how to gain protection against the consequences of risks

    10.49 Explain how all types of insurance are based on the concepts of risk sharing and

    statistical probability

    10.50 Identify the types of insurance associated with different types of risk

    10.51 Explain why insurance needs change throughout the life cycle

    10.52 Identify various suppliers of insurance (public and private)

    10.53 Given a particular level of financial resources, determine the level of insurance

    protection needed for various types of risk

    10.54 Explain taxes and give examples of how they are used

    10.58 Explain the impact of taxes on personal financial planning

    10.55 Identify the types of taxes that are major sources of revenue for government (e.g.,

    income, wealth, and consumption taxes)

    10.56 Calculate personal tax liabilities for various types of taxes, such as property, income,

    sales, and FICA taxes

    10.57 Describe the purposes of taxation (e.g., provision of public services, redistribution of

    income, and attainment of public economic goals)

    10.59 Develop spending and investing plans that maximize financial returns given present

    personal income tax policy

    12.3 Explain the role of government taxation and its effect on consumers and producers

    12.5 Explain how government's redistribution of income through taxation, spending, and

    assistance

    Chapter 12 Planning Your Tax Strategy

    Chapter 13 Home and Vehicle Insurance

    Chapter 14 Health, Disability,. And Life Insurance

    Chapter 15 Retirement and Estate Planning

    Week 13

    Tuesday

    Review Unit 4

    Unit 4 test (chapters 12-15)

    Thursday

    Make up work

    Video ―Is Wal-Mart Good for America?‖

    Install Virtual Business Personal Finance

    Week 12

    Monday

    Car insurance basics quiz

    Chapter 14 Health, Disability, and Life Insurance

    Section 14.1 Health Insurance and Financial Planning

    ? Explain the importance of health insurance

    ? Analyze the cost and benefits of various types of health insurance

    ? Assess trade-offs of different health insurance policies

    ? Understand key terms health insurance, coinsurance, stop-loss, co-payment

    Assignment page 453

    Section 14.2 Private Health Care Plans and Government Health Care Programs

    ? Evaluate the differences among health care plans offered by private companies

    and by the government

    ? Understand key terms Blue Cross, Blue Shield, managed care, HMO, PPO, point-

    of service plan, Medicare, Medicaid Assignment page 460

    Review w/s

    Wednesday

    Section 14.3 Disability Income

    ? Explain the importance of disability insurance in financial planning

    ? Identify sources of disability income

    ? Determine the trade-offs of different private disability income insurance policies

    Assignment page 464

    Section 14.4 Life Insurance

    ? Describe the purpose of life insurance

    ? Analyze various types of life insurance coverage

    ? Identify the key provisions in a life insurance policy Assignment page 473

    Review chapter

    Friday

    Chapter 15 Retirement and Estate Planning

    ? Recognize the importance to retirement planning

    ? Describe Social Security, employee pension plans, estate planning, traditional IRA,

    ROTH IRA

    ? Understand key terms

    Review Chapters 12 15

    Chapter 12 15 test Tuesday 3/31 Week 11

    Monday

    Section 13.1 Motor Vehicle Insurance

    A. Motor Vehicle Bodily Injury coverage

    B. Motor Vehicle Property Damage coverage

    C. No Fault Insurance

    D. Other coverage

    E. Motor Vehicle Insurance costs

    Check for Understanding page 439

    Chapter 12 and 13 Review

    Wednesday

    Chapter 12 and 13 summary and review

    Assessment page 419, 530, 439, 441

    Week 10

    Monday

    Chapter 12 Planning Your Tax Strategy

    Objectives;

    1. Describe the importance of taxes in financial planning.

    2. Identify your taxable income.

    3. Complete a W-4 form.

    4. Prepare a federal income tax return.

    5. Identify sources of tax assistance.

    6. Select the best strategies for your financial and personal needs. Notes and discuss sections 1-3

    Check for Understanding pages 389, 402, 407

    Wednesday

    Complete 10-40EZ form, IRS web site

    http://www.irs.gov/formspubs/article/0,,id=164272,00.html

    Chapter 13 Home and Motor Vehicle Insurance

    Objectives:

    1. Identify types of risks and risk management methods

    2. Develop an insurance program as a way to manage risks

    3. Recognize the importance of property and liability insurance

    4. Describe the insurance coverage’s and policy types available to homeowners and

    renters

    5. Analyze the factors that influence the amount of coverage and cost of home

    insurance

    6. Identify the important types of motor vehicle insurance coverage

    7. Evaluate factors that affect the cost of motor vehicle insurance Preview and purpose of chapter

    Lecture and discuss Section 13.1, 13.2

    Check for Understanding page 419, 430

Unit 3 Investing Your Financial Resources put your financial plans into action through

    investing. Increasing your resources is an important part of achieving your personal

    financial goals. The next few chapters will discuss the fundamental aspects of investing in stocks, bonds, mutual funds, real estate, and other items.

    Chapter 8 The Fundamentals of Investing

    Chapter 9 Stocks

    Chapter 10 Bonds and Mutual Funds

    Chapter 11 Real Estate and Other Investment Alternatives

    Objectives:

    1. Summarize investing basics and various types of short-term investments.

    2. Summarize various types of stock and bond investments.

    3. Summarize other types of investments.

    4. Analyze factors that affect the rate of return on a given savings or investment plan

    and calculate the rate of return.

    5. Analyze how saving and investing influences economic growth.

    6. Describe wills and other legal documents

    7. Explain how agencies regulate financial markets and protect investors. Week 9

    Tuesday

    Chapter 11 Real Estate and Other Investment Alternatives

    Objectives:

    1. Identify different types of real estate investments

    2. Assess the advantages and disadvantages of real estate investments

    3. Analyze the risks and rewards of investing in precious metals, gems, and

    collectibles

    Review Unit 3

    Thursday

    Unit 3 Test

    Week 8

    Monday

    Chapters 10 and 11 vocabulary quiz

    Chapter 10 review questions

    Wednesday

    Review Chapters 8 - 10

    Friday

    Activity - Measuring the Financial Strength of a Company

    Week 7

    Tuesday

    Chapter 8 and 9

    10.29 Define various types of income derived from investments

    10.38 Analyze the factors that affect the rate of return on a given savings or

    investment plan (e.g., risk, current interest rate, liquidity)

    10.39 Explain why a savings and investing plan changes as one proceeds through

    the life cycle

    Assessment questions pages 250, 258, 277, 291, 301 Thursday

    Substitute

    Chapter 10 and 11

    10.37 Describe the advantages and disadvantages of different saving and investing

    plans

    10.40 Differentiate between interest, dividends, capital gains, and rent from

    property

    10.41 Describe how saving and investing influences economic growth (capital

    formation)

    Assessment Assignment worksheet and assign questions 1-3 page 314, 1-3 page 319, 1-

    3 page 326, 1-3 page 335, 1-3 page 347

Unit 2 Banking and Credit Describes a wide range of services that can help you plan,

    manage, and save in order to achieve your financial goals. Chapter 5-7 will discuss the

    selection and use of financial services, the role of credit in your buying decisions, and the

    finances of housing.

    Chapter 5 Banking

    Chapter 6 Consumer Credit

    Chapter 7 The Finances of Housing

    Week 6

    Tuesday

    Post Test

    Review Consumer Credit state standards

    Chapter 7 The Finances of Housing

    1. How to evaluate available housing alternatives

    2. How to assess the advantages, disadvantages, and costs of renting

    3. Calculate the costs of home buying

    Assessment page 209 1-3, 229 1-3 Review Unit 2

    Thursday

    Unit 2 test Chapters 5-7

    Week 5

    Monday

    Excel 10.24 Calculate the true cost of credit for various credit uses (e.g., continuously making minimum credit card payments, total mortgage interest)

    Chapter 6 Consumer Credit

    10.15 Explain credit and why it is used

    10.17 Explain the role of credit in a market economy

    10.18 Identify sources of credit and the types of credit they offer

    10.19 Select an appropriate form of credit for a particular buying decision

    10.20 Determine advantages and disadvantages of credit

    10.21 Explain credit ratings and describe why they are important to consumers in

    our economic system

    10.22 Compare and contrast the legal aspects of different forms of credit (e.g.,

    credit cards, installment loans, mortgages)

    10.23 Compare and contrast the legal aspects of different sources of credit (e.g.,

    pawnshops, revolving charge accounts, banks)

    Review/Notes/Practice

    Assign page 163 1-3, page 179 1-3, w/s questions Wednesday

    The ABCs of Credit Card Finance Essential Facts for Students 2009

    1. Rules of Credit Card Use

    2. The costs of credit cards

    3. Calculate the balance using the Average Daily Balance Method

    Friday

Continue The ABCs of Credit Card Finance

    1. The costs of credit cards

    2. How to wisely choose and responsibly use a credit card

    3. The Schumer Box (comparing credit card offers)

    4. Do’s and Don’ts

    Video ―Get the Credit You deserve‖

    5. There’s always a solution

    6. Credit reports and credit scores

    7. Consequences of irresponsible credit card use

    8. Identity theft

    Week 4

    Tuesday

    Complete video worksheet and discussion

    Chapter 5 Banking

    10.42 List the basic services provided by banks

    10.46 Describe the functions of the banking system in the U.S. economy

    10.47 Explain the role of the central bank (Federal Reserve System) in the banking system of the

    United States

    10.45 Reconcile a bank statement

    Review/Notes/Practice

    Assign page 149 1-4, page 150 1-5

    Video and Activities Get Banked: The Banking Advantage

    Journal Entry

    Thursday

    Chapter 5 quiz

    Careful with Credit Video and worksheet

    Chapter 6 Consumer Credit

    10.15 Explain credit and why it is used

    10.17 Explain the role of credit in a market economy

    10.18 Identify sources of credit and the types of credit they offer

    10.19 Select an appropriate form of credit for a particular buying decision

    10.20 Determine advantages and disadvantages of credit

    10.21 Explain credit ratings and describe why they are important to consumers in

    our economic system

    10.22 Compare and contrast the legal aspects of different forms of credit (e.g.,

    credit cards, installment loans, mortgages)

    10.23 Compare and contrast the legal aspects of different sources of credit (e.g.,

    pawnshops, revolving charge accounts, banks, credit bureaus)

    10.24 Calculate the true cost of credit for various credit uses (e.g., continuously

    making minimum credit card payments, total mortgage interest) Review/Notes/Practice

    Assign page 163 1-3, page 179 1-3, worksheet questions

Unit 1 Planning Personal Finances

    Chapter 1 Personal Financial Planning

    Chapter 2 Financial Aspects of Career Planning

    Chapter 3 Money Management Strategy

    Chapter 4 Consumer Purchasing Strategies and Legal Protection Week 3

    Wednesday

    Review Unit 1

    Unit 1 Test

    Friday

    Review Unit 1 Test

    Video and W/S Barter, Bank Notes and Beyond

Week 2

    Monday

    Chapter 2 Quiz

    Review 1 and 2

    Lecture and Discuss Chapter 3 Money Management Strategy

    10.8 Determine personal resources for meeting needs and wants

    10.9 Evaluate available buying options given personal financial resources

    10.10 Identify the steps in a rational decision-making process as part of a buying decision

    10.33 Develop a plan to allocate financial resources to meet an individual's financial goals

    10.35 Describe how income and spending patterns change throughout the life cycle for the typical person and family

    10.36 Describe why and how people save

    10.37 Describe the advantages and disadvantages of different saving and investing plans

    Assessment pages 65, 74, 85

    Wednesday

    Chapter 3 Quiz

    Lecture and Discuss Chapter 4 Consumer Purchasing Strategies and Legal Protection

    13.20 Recognize that the first source of complaint about a faulty product is the business from which it was purchased

    13.21 Make effective oral and written complaints about product claims, misleading advertising, or faulty products to the appropriate source of redress

    13.22 Differentiate among the various types of consumer fraud and explain steps that can be taken by victims to gain redress

    13.23 Distinguish between fraudulent, misleading, and legitimate product claims, and explain what to do if such claims lead to the purchase of a faulty product

    13.24 Using the various resources available for resolving consumer complaints, including

    consumer legislation and legal action, develop action steps that can be taken at each level

    from local through national organizations

    Assessment pages 104, 113

    Friday

    Chapter 4 Quiz

    Review

    Journal Entry

    Unit 1 Test Wednesday January 21

Week 1

    Tuesday

    Introduction and Expectations

    Chapter 1 Lecture and Notes

    1.1 Define and give examples of economic wants and needs

    1.2 Explain how economic wants are satisfied

    1.5 Explain and give examples of the opportunity costs of choices made by individuals and society

    10.31 Identify personal values and goals

    10.32 Determine the financial resources needed to satisfy personal values and goals for a given time period

    10.33 Develop a plan to allocate financial resources to meet an individual's financial goals

    10.39 Explain why a savings and investing plan changes as one proceeds through the life cycle

    Assessment pages 19, 27, 28-29

    Thursday

    Chapter 1 Quiz

    Chapter 2 Lecture and Notes

    15.1 Give examples of various types of jobs

    15.2 Explain how types and availability of jobs are determined by consumer demand

    15.3 Assess personal interest, abilities, and life goals

     15.4 Differentiate among various occupational choices (e.g., service, manufacturing,

    agricultural, public service, professional, technical)

    15.5 Analyze the characteristics and requirements of occupations of interest

    15.6 Generalize how income will be affected by factors such as supply and demand, location,

    level of education, type of industry, union or non-union membership, gender, ethnicity, skill

    levels, and work ethics

    Assessment pages 41, 55-57

    Journal Entry Describe an occupation you think would be good for you. Chapter 2 quiz Monday January 12

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