Personal Finance - Checking
Overview
Lesson for the beginning stages of a personal finance class.
Checking
Daily Plan | Instructor: | Mr. Armstrong | ||
| Course: | Personal Finance | |||
| Unit Title: | Checking | |||
| Lesson Plan: | The Essential Checking Account | |||
| Estimated Time: | 75 min | |||
| Materials, Supplies, Equipment, References, and Other Resources: | ||||
| CTE Standards: | ||||
| Essential Question(s): |
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| Objectives:1.Explain what a checking account is used for and why it is important to have one2.Understand the variety of ways they can deposit and withdraw funds from their checking account3.Describe the consequences of not being in the banking system4Understand various options for payment (cash, check, debit, person-to-person, prepaid card) and determine when to use each type. |
| Interest Approach/Set (Preflection) | Estimated Time: | 5 min |
Discussion Prompts: Discuss the following questions with your classmates or a partner.
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| Learning Activity 1 | Estimated Time: | 10-15 min | |
| Instructor Directions / Materials | Brief Content Outline | ||
| Why should we use a bank account?watch this video: https://www.youtube.com/watch?v=uPZXBln82pAthen read through this article: https://www.netcredit.com/blog/5-reasons-why-you-need-a-checking-account/After watching video and reading article answer the questions in class discussion |
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| Learning Activity 2 | Estimated Time: | 8-10 min | |
| Instructor Directions / Materials | Brief Content Outline | ||
| Spent: Looking for ChangeAfter the discussion on the first activity students may wonder what some of the disadvantages of not having a checking account are. Watch this short segment (9:08-12:47) of the longer documentary. https://www.youtube.com/watch?t=9m8s&v=YAxL4TB6pmQ&feature=youtu.beDiscuss the question with class. | What are some of the disadvantages of being locked out of, or choosing not to belong to, the traditional banking system? |
| Learning Activity 3 | Estimated Time: | 10-15 | |||||
| Instructor Directions / Materials | Brief Content Outline | ||||||
| Watch the video Prepaid Cardshttps://www.youtube.com/watch?v=U3DX0z-03l8 Then, read the article in to complete the chart and question. You may also want to think back to Justin’s experience in the earlier video, Spent, as you answerhttps://www.creditcards.com/credit-card-news/help/9-things-you-need-to-know-about-prepaid-cards-6000/ |
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| Summary (Reflection) | Estimated Time: | 2 min |
| Why is it important to have a checking account?What are the differences/similarities between a prepaid card and debit card? |
| Evaluation |