Banzai is a personal financial literacy tool in which students work through real life scenarios and deposit and spend their money with aid of "jars" representing budgeted money. It helps students understand and plan a budget.
Lesson Objective: At the completion of this lesson, students will be able to create a budget to accomplish personal financial goals. Supplies Needed: Student Handout 1 U.S. Saving and Spending Web Quest (found in Task 1 and Task 2) Student Handout 2 Fast-Forward: Life in 10 Years – A Planning Activity (Found in Task 3) Student Handout 3 Personal Finance Public Service Announcement Rubric (found in Task 4) Student Handout 4 FoolProof: Personal Finance Company’s Guide toMonthly Budgeting (Found in Task 5) Student Handout Answer Key 4 FoolProof: Personal Finance Company’s Guide toMonthly Budgeting (Found in Resource Library) Student Handout 5 Personal Finance Decisions (Found in Task 6) Student Handout 6 What’s Your Budget? (Found in Task 7) Student Handout 6 Answer Key What’s Your Budget? (Found in Resource Library) References Econedlink: Council for Economic Education. (n.d.). Economic Glossary. Retrieved from http://www.econedlink.org/economic-resources/glossary.php
Bank of America and Khan Academy created an online partnership to educate consumers about the basics of personal finance and money management. Students sign up for free and can accumulate points and earn badges on many topics including credit, taxes, personal banking/security, saving, school expenses, home buying, car buying, and debt. Tools include informative videos, infographics, key takeaways, and short quizzes.
Learning Objectives
Students will learn
Factors to consider when deciding where to live, including the cost of living
Benefits of having a roommate and how to set themselves up for success in living with others
How to find and rent their first apartment
How much they’ll need to budget for utilities and renters insurance
How to decide whether to rent or buy a home
Approximate Time
Lesson length: 140 mins
Learning Objectives
Students will be able to
Define the gig economy and freelancing
Understand the financial implications of working in the gig economy
Acknowledge the special importance of saving if you work a gig job
Approximate Time
Lesson length: 100 mins
Learning Objectives
Students will be able to
How to define wealth and differentiate it from “having lots of fancy stuff”
The importance of creating a budget and paying yourself first
Key aspects of three popular budgeting strategies -- 50/30/20, Zero-based, and Cash Envelope
Approximate Time
Lesson length: 80 mins
This website includes several templates that can be used to keep track of and adjust a budget.
Learning Objectives
Students will be able to
Differentiate between gross and net pay
Create a budget on a salaried adult’s income and adjust it as required
Research and choose appropriate budgeting apps to meet specific needs
Approximate Time
Lesson length: 100 mins
Students learn about the many types of expenses associated with building a bridge. Working like engineers, they estimate the cost for materials for a bridge member of varying sizes. After making calculations, they graph their results to compare how costs change depending on the use of different materials (steel vs. concrete). They conclude by creating a proposal for a city bridge design based on their findings.
Estimated Lesson Time:
Students will be able to:
-Understand what herd mentality and FOMO are
-Explain how these two cognitive biases impact our personal finances
-Identify practical steps someone can take to combat the influence of herd mentality and FOMO
ANSWER KEY LINKS: Create a Next Gen Personal Finance (NGPF) account to access answer keys. They will be listed under the Full Year Curriculum tab.
Students will attempt to balance the federal budget and meet political objectives while doing so.
During this engineering design/build project, students investigate many different solutions to a problem. Their design challenge is to find a way to get school t-shirts up into the stands during home sporting events. They follow the steps of the engineering design process to design and build a usable model, all while keeping costs under budget.
Students will be able to:
-Identify various rules of thumb and strategies to save money
-Determine whether a direct deposit or manually saving is the best strategy for them
-Understand how compound interest works to increase savings
-Explain how to use the Rule of 72
-Recommend different mobile apps that can help them manage and increase their savings
This lesson teaches students about the importance of budgets. First, use the Discussion Guide (found in Task 1) to teach students about this concept. Then, use the activity (found in Task 3) to assess their understanding. This activity allows students to understand the importance of budgeting, as well as to interpret and analyze budgeting decisions. A sample answer guide is provided in the Resource Library. A full lesson module related to this concept can be found on the MBA Learning Center. Visit mba.instructure.com and search for "FI:106" in the Commons.
Every election year and for years after elections, there are several major issues that persistently trouble Americans. Every election year, politicians pledge that they will address these issues, and nearly every year they fall short of many peoples’ expectations. This time may be different, but it will take an educated voting population to explain to politicians exactly what they want done to address the issues. In this lesson, we begin that process by examining problems surrounding health care costs, funding higher education, and preserving social security. Then, students look at how the current presidential candidates are proposing to address these issues, and formulate a short media presentation using Flipgrid (https://info.flipgrid.com/) or some other media presentation tool to endorse one candidate.
In this lesson, students discover the entire process that goes into designing a rocket for any customer. In prior lessons, students learned how rockets work, but now they learn what real-world decisions engineers have to make when designing and building a rocket. They learn about important factors such as supplies, ethics, deadlines and budgets. Also, students learn about the Engineering process, and recognize that the first design is almost never the final design. Re-Engineering is a critical step in creating a rocket.
Estimated Lesson Time: 85 minutes
Students will be able to:
-Identify how the endowment effect and sunk costs affect our decision making
-Discuss how the endowment effect and sunk costs are connected to our personal finances
-Demonstrate making decisions after you’ve already spent time, money, or effort
-Choose strategies that are helpful in combating the endowment effect and sunk costs
ANSWER KEY LINKS: Create a Next Gen Personal Finance (NGPF) account to access answer keys. They will be listed under the Full Year Curriculum tab.
After showing a the episode of 30 Days on living on Minimum Wage or Reading a section of Nickel and Dimed by Barbara Ehrenreich and have the students create a budget for a family of four living on minimum wage.
Making The Right Money Moves is used to teach young adults in a high school classroom basic money management skills, including how to access and manage credit responsibly.
What are the program components?
There are four curriculum components provided to each school, including:
The Student Workbook imprinted with your credit union's logoThe video, Check It Out!! – checking account convenience, management and the 5 C's of creditThe CD exercise, You're On Your Own – money managementThe Teacher's Guide
Teachers request the number of workbooks needed for their classes and a Teacher's Guide. The school media center receives and catalogs the CD. The video is available online. You receive the fifth component directly: The Credit Union Guide, which provides ideas and recommendations for maximizing your participation in the program.
MMSD shares how they manage an equitable share budget for federal funds (Title II, Title IV, ESSER, GEER, etc.) using multiple tabs on Google Sheets.
Month long budget project for students. Instructions and template included.
Using their knowledge of the phases of matter, the scientific method, and polymers, student teams work as if they are chemical engineers to optimize the formula for slime. Hired by the fictional company, Slime Productions, students are challenged to modify the chemical composition of the basic formula for slime to maximize its "bounce factor."
The difference between an architect and an engineer is sometimes confusing because their roles in building design can be similar. Students experience a bit of both professions by following a set of requirements and meeting given constraints as they create a model parking garage. They experience the engineering design process first-hand as they design, build and test their models. They draw a blueprint for their design, select the construction materials and budget their expenditures. They also test their structures for strength and find their maximum loads.
This resource is a collaborative assessment that takes about five 50-minute class periods (without the presentation time) that can be used after completing the Junior Achievement Economics for Success program. Outcome topics include goals, budgeting, credit, and insurance. Other prior knowledge includes how to create, format, and collaborate using a presentation app (Google Slides). Keep in mind that this project is used in a class that also teaches keyboarding, personal finance, and computer applications. This is part of a unit assessment.
This is an online game about surviving poverty and homelessness created by ad agency McKinney for pro bono client Urban Ministries of Durham (UMD), whose mission "is to provide food, clothing, shelter and supportive services to neighbors in need".[1] Players must make the difficult decisions necessary to live for one month on $1,000, often having to choose between equally disagreeable options. The dilemmas they face represent those that bring people to places like UMD: Do you make a healthy meal or keep the lights on? Cover the minimum on your credit cards or pay the rent? Hope your sick daughter gets better on her own or risk your job by leaving early to take her to the doctor? Let your son play in the after-school sports league or save the money needed for his uniform?
The game ends when players either run out of money before the end of the month or make it through with money left over.
Since its launch in February 2011, the interactive game SPENT has been played more than 4 million times in over 218 countries.[2]
Excerpted from: https://en.wikipedia.org/wiki/SPENT
This is a detailed description of an assessment that can be used in a graduate level of study in the area of public school finance. This has been approved by NCATE as meeting all of the stipulated ELCC standards for which it is designed (1.1, 1.2, 1.3, 1.4, 1.5, 2.1, 2.2, 2.3, 2.4, 3.1, 3.2, 3.3, 4.1, 4.2, 4.3, 5.1, 5.2, 5.3.).
This course of study appropriate for this assessment is both skills and knowledge focused. The assessment measures the student’s ability to think critically and requires students to identify and analyze real school district data regarding revenue and expenditures, a formula for predicting needed staffing levels and a comprehensive listing of personnel data detailing all expenditures per employee. Finally, the assessment provides students the opportunity to role play experiences one might have during a district-wide administrator meeting and during a public school board meeting by presenting their recommendations via a formal presentation with their peers serving as school board members and the professor as the school district superintendent.
Students are able to decide where in Texas they are going to live and then make financial choices that will correlate with the lifetyle they think they want to have. They will decide where they live, what they buy, and what they save. Once they make all of their financial decisions, they will be given a minimum salary that they will need to be able to maintain that lifestyle. They are then able to search jobs that they are interested in and see the starting salaries that they come with. This allows them to see the reality of what their lifetyle and career path is.
Students learn about material reuse by designing and building the strongest and tallest towers they can, using only recycled materials. They follow design constraints and build their towers to withstand earthquake and high wind simulations.
In this activity, students revisit the Pop Rockets activity from Lesson 3. This time, however, the design of their pop-rockets will be limited by budgets and supplies. They will get a feel for the limitations of a real engineering project as well as an opportunity to redesign and retest their rockets.
Personal Finance course FREE teacher resources and trial access to online course solution as well as a correlation to WI state standards.
Students learn about the major factors that comprise the design and construction cost of a modern bridge. Before a bridge design is completed, engineers provide overall cost estimates for construction of the bridge. Students learn about the components that go into estimating the total cost, including expenses for site investigation, design, materials, equipment, labor and construction oversight, as well as the trade-off between a design and its cost.
Estimated Lesson Time: 45 minutes
Students will be able to:
-Understand how social media can influence spending habits
-Analyze marketing techniques from social media and advertising that encourage spending
ANSWER KEY LINKS: Create a Next Gen Personal Finance (NGPF) account to access answer keys. They will be listed under the Full Year Curriculum tab.
Madision Metropolital School District shares tools and resources for managing Title II-A funding with private/parochial schools in your district.
Estimated Lesson Time: 45 minutes
Students will be able to:
-Understand how the context of various situations can affect the financial decisions they make
-Define economic terms about the paradox of value
-Assess which of their personal values most affect how they interact with money
ANSWER KEY LINKS: Create a Next Gen Personal Finance (NGPF) account to access answer keys. They will be listed under the Full Year Curriculum tab.
Estimated Lesson Time: 45 minutes
Students will be able to:
-Identify different ways that they relate to money
-Assess their own personal values that shape how they make financial decisions
ANSWER KEY LINKS: Create a Next Gen Personal Finance (NGPF) account to access answer keys. They will be listed under the Full Year Curriculum tab.