grade 9-12 subject economics & personal finance fourth...

Grade 9-12 Subject Economics & Personal Finance Fourth Nine Weeks Instruction Dates: April 14 – June 15 22Days

Teacher ________________________ Draft Date______________

Classroom policies and procedures

Curriculum Focus: Virginia Credit Union Smart Start Education Curriculum

https://www.vacu.org/Education_Resources/Articles_Tips/Financial_Education_for_Kids_Teens/Resources_for_Teachers/Smart_Start_Curriculu

m.aspx- Virginia Credit Union believes that every high school student should be given the opportunity to learn how to manage money. It is our

intent to help further the financial education movement by providing a quality, interactive, Standards of Learning based financial education

curriculum.

Lesson 1: Money Wise

Lesson 2: Savings and Financial Institution Knowledge

Lesson 3: Careers and Taxes

Lesson 4: Car Buying

Lesson 5: Renting vs. Buying a Home

Lesson 6; Inheritance and Investing

Curriculum Focus: Investodedia Stock Market Simulation

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Standard of Learning w/Essential Knowledge and Skills (from 2010 SOL Documents)

Number of days

Resources and Materials used for instruction

Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7

Governor’s Challenge in Personal Finance Chapter 6: Insurance

Chapter 7: Retirement Savings and Investments

Chapter 8: Education Savings and Investments

Chapter 9: Giving

https://www.vacu.org/Education_Resources/Articles_Tips/Financial_Education_for_Kids_Teens/Resources_for_Teachers/Smart_Start_Curriculum.aspx

https://www.vacu.org/Education_Resources/Articles_Tips/Financial_Education_for_Kids_Teens/Resources_for_Teachers/Smart_Start_Curriculum.aspx



Day 8

Chapter 10: Living Expenses

EPF.6 The student will demonstrate knowledge of the nation’s financial system by a) Defining the role of money b) Explaining the role of financial markets and financial institutions EPF.12 The student will demonstrate knowledge of banking transactions by a) Comparing the types of financial institutions b) Evaluating services and related costs associated with personal banking d) Differentiating among types of electronic monetary of transactions g) Comparing costs and benefits of online and traditional banking Terms: The Federal Reserve (The Fed), US Treasury, Denominations, Commodity Money, Fiat Money, Bank, Credit Union, Savings and Loan, Insurance Company, Securities and Exchange Commission (SEC), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Checking Account, Credit Card, Savings Account, Loan, Mortgage, Debit Card, Automated Teller Machine (ATM), Payday Loan, Check-Cashing, and Automated Clearing House (ACH)

Day 9 Lesson 1: Money and Financial Institutions Money Wise Notes

Lesson Objectives and Terms Slide Show

Counterfeit Bill Slide – Discuss Money Characteristics Slide – Discuss Commodity Money vs. Fiat Money

Chat What to do with your money?

Slide Show Types of Financial Institutions Consumer Protection through The Fed and SEC Deposit Insurance through FDIC and NCUA Bank Services Compare Services Unbanked Consumers Electronic Services

Thumbs Up, Sideways, Down? Worksheet

Research different local banks and services Complete the Financial Institution Worksheet

EPF.10 The student will develop consumer skills by i) Accessing reliable financial information from a variety of sources j) Explaining consumer rights, responsibilities, remedies and the importance of consumer vigilance

Day 10

Lesson 2: Savings and Financial Institution Knowledge Making the Most of Your Money Notes

Lesson Objectives and Terms



EPF.12 The student will demonstrate knowledge of banking transactions by e) Preparing all forms necessary for opening and maintaining a checking and savings account f) Reconciling bank statements EPF.13 The student will demonstrate knowledge of credit and loan functions by b) Analyzing credit card features and their impact on personal financial planning c) Identifying qualifications needed to obtain credit e) Comparing terms and conditions of various sources of consumer credit f) Identifying strategies for effective debt management g) Explaining the need for a good credit rating EPF.17 The student will demonstrate knowledge of personal financial planning by a) Identifying short-term and long-term personal financial goals b) Identifying anticipated and unanticipated income and expenses c) Examining components and purposes of a personal net worth statement d) Developing a personal budget Terms: Opportunity Cost, Smart Goals (S)pecific, (M)easurable, (A)ction Oriented, (R)ealistic, (M)easurable, Budget, Income, Expense, Debit Card, Credit Card, Check, Gross Pay, Net Pay, Payroll Taxes, Social Security Taxes, Medicare Taxes, Federal Taxes, State Taxes, W-4 Form, W-2 Form, Grace Period, Annual Percentage Rate (APR), Credit Bureau, Equifax, Experian, TransUnion, Fair Credit Reporting Act, FICO Score,

Day 11

Review Lesson 1 Terms Quizlet Lesson 1 Matching Test Song

Ojays “For the Love of Money” Poster

What does money mean to you? Discussion

Money Management Long-term effects of money decisions

Presentation Opportunity Cost Money slide and the difference between debit card,

checks, and credit cards Short-term and Long-term SMART goals

Chat Write down some of your own financial goals

Presentation Purpose of Budget M & M Budgeting Slide

Game M&M Budgeting Game

Activity Mini Budget - List your income and expenses Career Budget – Choose your career and create

your budget. Review Lesson 2 Terms Presentation

How to open up a bank account Application on overhead

Activity Reconcile a Checking Account



Presentation Credit Card Slides

Video Meet Winston – Credit Score

Activity Credit Card Choice

Presentation Credit Bureaus Credit Scoring and FICO Score Impact of Credit Score on Interest Rate

Activity Budget Worksheet Alternate Endings Quiz

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EPF.15 The student will demonstrate knowledge of income earning and reporting by a) Examining how personal choices about education, training, skill development and careers impact earnings c) Calculating net pay d) Investigating employee benefits and incentives e) Completing a standard W-4 form EPF.16 The student will demonstrate knowledge of taxes by a) Describing the types and purposes of local, state and federal (income) taxes e) Explaining the content and purpose of a standard W-2 form Terms: Progressive Taxes, Regressive Taxes, Income Tax, Gross Pay, Net Pay, W-4 Form, Medicare Taxes, Social Security Taxes, Federal Government, State Government, Local Government, Withholding Allowance, W-2 Form, and Federal Insurance Contributions Act (FICA)

Day 12

Review Lesson 2 Terms Quizlet Matching Lesson 1 Terms Test Lesson 3: Careers and Taxes Career Central Notes

Read Objectives and Write Terms Video

Air-Conditioned Cubicle: Career Video Chat

What would you do with a million dollars? Worksheet

Answer question number one. Activity

Draw a career out of a hat Chat

Implication of job choice on salary Presentation

Career Slide



Day 13

Activity Occupations – answer questions www.salary.com Click on paycheck for model paycheck Write down gross and net pay

Presentation Writing a check

Activity Write a check for gross and net pay

Presentation Gross and Net Pay Payroll Taxes

Activity Go over W-4 form Go over W-2 form

Review Terms from Lesson 3 Quizlet Matching Test Lesson 3 Terms Presentation

Tax Bracket Activity

Complete 1040EZ and 1040A Case Studies EPF.10 The student will develop consumer skills by d) Determining the consequences of conspicuous consumption e) Describing common types of contracts and the implications of each f) Demonstrating comparison-shopping skills EPF.11 The student will demonstrate knowledge of planning for living and leisure expenses by a) Comparing the costs and benefits of purchasing vs. leasing a vehicle

Day 14

Lesson 4: Car Buying What a Ride! Notes

Read over Objectives and Take Notes Terms Video

Meet Pete: First Car Groups of Four

Auto Trader Car Preview Chat

Why or why not your group’s car is a good choice

http://www.salary.com/



EPF.13 The student will demonstrate knowledge of credit and loan functions by a) Evaluating the various methods of financing a purchase g) Explaining the need for good credit EPF.14 The student will demonstrate knowledge of the role of insurance in risk management a) Distinguishing among the types, costs and benefits of insurance coverage Terms: APR, Term, Installment Loan, Property Tax, Liability Insurance, Full-Coverage Insurance, GAP Insurance, Extended Warranty Plans, Credit Life or Disability Insurance, Depreciation, Leasing, and Co-signer

Day 15

for high school student or not? Online

www.kbb.com build your own car Activity

Match up terms with definitions passed out to class Presentation

Points to Ponder on buying a car Ongoing additional costs Insurance Optional costs New cars vs. used cars

Chat Is supply and demand an advantage or

disadvantage when car buying? Presentation

How will you pay for your car? Loan and leasing Credit

Activity Role Play with four students and two scripts Loan application

Presentation Did you make a good choice?

Review the terms for Lesson 4 Car Buying Quizlet Lesson 4 Car Buying Matching Terms Test Activity

Buy a car Lease a car

http://www.kbb.com/



EPF.10 The student will develop consumer skills by e) Describing common types of contracts and the implications of each f) Demonstrating comparison-shopping skills EPF.11 The student will demonstrate knowledge of planning for living and leisure expenses by b) Comparing the advantages and disadvantages of renting vs. purchasing a home c) Describing the process of renting housing d) Describing the process of purchasing a home e) Calculating the cost of utilities, services, maintenance and other housing expenses f) Evaluating discretionary spending decisions Terms: Gross Pay, Net Pay, Renting, Lease, Lessor, Lessee, Security Deposit, Renter’s Insurance, Mortgage, Down Payment, PITI, Principal, Interest, Taxes, Insurance, Local Property Taxes, and Equity, FHA Loan

Day 16

Lesson 5: Renting vs. Buying Home Sweet Home Notes

Read Objectives and Write Terms Video

Meet Michael and Jenny Chat

Write the first thing that comes to mind when you think of the word “home”.

Presentation Homes slide What do you think of?

Chat Answers to “What do you think of?”

Activity Wants vs. Needs puzzle

Presentation Are You Ready to Be on Your Own?

Activity Take the quiz

Presentation Police Officer’s Salary

Activity Police Officer’s Budget

Presentation Renting vs. Buying Renting Lease

Activity Role play lessor and lessee

Presentation



Day 17

Initial Renting Expenses Find a Rental Property

Activity Go online and find a rental the police officer could

afford. Find a rental without price being a factor

Chat Discuss findings

Presentation Renter’s Insurance Advantages of Renting Buying a Home Homeowner’s Insurance How Much Do You Qualify For PITI and Debt to

Income Ratio Ongoing Additional Expenses Mortgage Application What Will Your House Payment Be? Advantages of Buying a House Have a Savings Plan

Activity Worksheets

Review Terms for Lesson 5 Buying a House Quizlet Test Matching Terms Lesson 5 Activity

Buy a House Rent an Apartment



EPF.10 The student will develop consumer skills by a) Examining precautions for protecting against identity theft and other personal information EPF.14 The student will demonstrate knowledge of the role of insurance in risk management a) Evaluating insurance as a risk management strategy b) Distinguishing among the types, costs, and benefits of insurance coverage, including automobile, life, property, health, and professional liability c) Explaining the roles of insurance in financial planning EPF.18 The student will demonstrate knowledge of investment and savings planning a) Comparing the impact of simple interest vs. compound interest on savings b) Comparing and contrasting investment and savings options c) Explaining costs and income sources for investments f) Describing how the stock market works Terms: Insurance, Windfall, Saving, Investing, Stock, Bond, Mutual Fund, IRA, 401(k), Compound Interest, Savings Account, Money Market Account, Certificate of Deposit (CD), Dividend, Appreciation, Risk, Return, Defined Contribution Plan, 403(b), Roth IRA, Traditional IRA, and Identity Theft

Day 18

Lesson 6: Inheritance and Investing What’s Your Story? Presentation

Auntie Sue Video

Pierre: First Savings Presentation

Insurance Slide Chat

Discuss Insurance Group

Take one type of insurance that Auntie Sue has and brainstorm what it is used for.

Chat Answers to brainstorm

Presentation Inheritance

Chat What will you do with the money? Did you save

first? Presentation

Pay Yourself First Saving and Investing

Chat Difference between savings and investing

Presentation Compound Interest Savings Account Different Types of Savings Accounts Investment Account Stock Investment



Pros and Cons of Stocks Bonds Mutual Funds Retirement Accounts Find a Stock

Activity Go online and find a stock

Game Pit Game Cards and Rules in Handout

Discussion Auntie Sue’s inheritance was taken from you Identity Theft and How to Protect Yourself

Presentation Happy Ending

EPF.18 The student will demonstrate knowledge of investment and savings planning f) Describing how the stock market works

Day 19 Days 20 -

Review Terms from Lesson 6 Investing Quizlet Matching Lesson 6 Terms Investing Investopedia Stock Market Simulation Excel Spreadsheet Wise Stock Terms Quizlet SOL Testing

WISE Test Review

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Learning Objective

Formative/ Informal Assessments To Be Used Approx. Date(s)



Wise Personal Finance Pre-test 50 Questions – Participation Grade Lesson 1: Money and Financial Institutions

Vocabulary Notes Checking Account Comparison Sheet (Research online together as a class) Financial Institution Worksheet (Research online together as a class)

Lesson 2: Savings and Financial Institution Knowledge Vocabulary Notes Life Budget Game (M&Ms required) Monthly Budget Blueprint (Everyone has a different career) Credit Card Decision Making Model (Takes students through the decision-making) Alternate Endings Sample Credit Application Open a checking account and reconcile

Lesson 3: Careers and Taxes Career Central Vocabulary Notes Write a check for gross and net pay Complete a W-4 form Go over a W-2 form High and Low-demand Careers

Lesson 4: Car Buying What a Ride! Vocabulary Notes Meet Pete Video Auto Trader – Groups of 4 Review the options for a high school student Buying My First Car – Calculate the total cost and loan payments. Leasing My First Car – Calculate the total costs and payments. Insurance – What type of auto insurance is required in Virginia? GAP, and Costs Extended Warranty – Is it a good idea? Role Play Script 1 and Script 2 – Dealing with the salesperson



Lesson 5: Renting vs. Buying Home Sweet Home Vocabulary Notes Not so fast yes or no answer sheet in preparation for renting your own apartment Renting vs. Buying worksheet guide Wants and needs for home shopping Residential Loan Application talking Buying my first home – calculate the total costs and loan payments. Renting my first home – calculate the total costs.

Lesson 6: Inheritance and Investing What’s Your Story? Vocabulary Notes Auntie Sue – How did she protect her assets? Meet Piere – Video and each group takes one type of insurance listed in the story Inherit $20,000 – What will you do with the money? Did you pay yourself? Write down the difference between savings and investing. Calculate the difference between simple and compound interest. List the different types of savings accounts. Think long-term when investing. Stock investments Bonds Mutual Funds Retirement Accounts Identity Theft Protection



Learning Objective

Summative Assessments To Be Used Approx. Date(s)

EPF 6 EPF 12 EPF 10, 12, 13, & 17 EPF 10,11,14,15,16,& 17 EPF 10, 11, 13, & 14 EPF 10 & 11 EPF 10, 14, &

Lesson 1: Money and Financial Institutions Quizlet Matching Vocabulary Test

Lesson 2: Savings and Financial Institution Knowledge

Quizlet Matching Vocabulary Test Lesson 3: Careers and Taxes Career Central

Quizlet Matching Vocabulary Test Lesson 4: Car Buying What a Ride!

Quizlet Matching Vocabulary Test Lesson 5: Renting vs. Buying Home Sweet Home



18 Quizlet Matching Vocabulary Test Lesson 6: Inheritance and Investing What’s Your Story?

Quizlet Matching Vocabulary Test Chapter 1: Introduction to Personal Finance

Quizlet Matching Vocabulary Test Quizstar Multiple Choice Test

Chapter 2: Savings


Chapter 3: Budgeting


Governor’s Challenge Personal Financial Plan WISE Financial Literacy Test – ¼ of nine weeks grade