Students connect their future career choices and decisions with budgeting practice and identifying the type of lifestyle they will be able to live based on their career choices.
Material Type: Lesson
Unit to teach about budgeting and money management.
Material Type: Unit of Study
Students complete a short survey to find out about their current money skills and explore things they can do to manage money better.
Material Type: Activity/Lab, Lesson
Students read descriptions of common places to store their money and weigh the benefits and risks of each to decide which one(s) fit their financial goals.
Material Type: Lesson Plan
Students discuss the importance of emergency savings and play a game to explore connections between saving, spending, and unexpected expenses.
Material Type: Lesson Plan
Students practice budgeting by planning for a fun overnight trip to a rural area.
Material Type: Lesson Plan
Students play a game and answer questions to learn about prepaid cards and explore whether they’d consider using them.
Material Type: Lesson Plan
Students review a pay stub from a sample paycheck to understand the real-world effect of taxes and deductions on the amount of money they receive.
Material Type: Lesson Plan
Students explore the differences between saving and investing and answer questions about which one they’d use to reach different financial goals.
Material Type: Lesson Plan
MYOB is designed to show students that the key to financial health is simple: Spend less than you make. Students are expected to set and follow a monthly budget and regularly monitor their checking and savings accounts while avoiding debt. However, students must balance their comfort level as well. In order to win the game, players must achieve and maintain the game goals for each scenario (such as savings, debt, and comfort goals) before time runs out. MYOB contains ten scenarios, each dealing with different financial challenges and covering a mixture of financial literacy objectives. In each scenario, the player will earn a paycheck every four weeks. After they deposit their paycheck, they are prompted to set a budget for the next four weeks. Then they are free to determine how to spend their TIME, COMFORT, and MONEY, by choosing from any of the options on the screen, from paying bills to going shopping. Every action the player takes in the game will impact their score in one of these three areas. If the player does not have enough time, comfort, or money to complete an action, the Perform button will be disabled. They will have to either choose a different action or perform an action that will give them enough resources to complete it. Once the player has used all of the time points allotted for each four-week period, they will see a monthly summary, which provides feedback on their performance during that time. In order to win the game, the player must MEET or EXCEED the minimum SAVINGS REQUIREMENTS, DEBT REPAYMENT GOAL, and COMFORT LEVEL set out at the beginning of the scenario. Throughout the game, the player must strategically use their time, comfort, and money in order to achieve and maintain the scenario goals.
Material Type: Game
Students will read a description of interest rates, then they will review two scenarios, and finally they will use what they have learned about interest rates to analyze the scenarios in written form. A teacher answer key is included.
Material Type: Assessment, Homework/Assignment
This 6 minute video will explain the benefits and costs associated with buying a home versus renting a home. This video will aid in the mastery of standard EPF. 11 (b)
Material Type: Lecture
Learn how mortgages work, how to use a mortgage calculator, and how to use a spreadsheet to show the payoff of a mortgage over time and the interest paid each year.
Material Type: Lesson
In this video we explore the different types of interest rates you might encounter. Topics include the difference between fixed rate mortgages, adjustable rate mortgages, and hybrids such as 5/1 loans. Created by Sal Khan.
Material Type: Lesson
Basics of how a mortgage back security works. Created by Sal Khan.
Material Type: Lesson
Part I of the introduction to mortgage-backed securities. Created by Sal Khan.
Material Type: Lesson
Part II of the introduction to mortgage-backed securities. Created by Sal Khan.
Material Type: Lesson
More on mortgage-backed securities. Created by Sal Khan.
Material Type: Lesson
Explore the mechanics of adjustable rate mortgages (ARM) in this video, including how they work and in what situation an ARM might be advantageous and when it might work against you.
Material Type: Lesson
Explore the mechanics of hybrid adjustable-rate mortgages, which are a blend of a fixed rate mortgage and an adjustable rate in this video, including how they work and when they might be advantageous.
Material Type: Lesson
