Personal Finance 101
Financial Literacy Basics
This program takes a cognitive behavioral approach to financial literacy through 4 lessons, which meet Jumpstart Coalition and Common Core Math Standards.
Lesson 1: Your Financial Blueprint
Students will create a financial plan (aka budget) that will allow them to identify and organize their finances. They will breakdown the different components of a budget, or as we call it, a Blueprint. They will examine their spending, and determine which expenditures are fixed, variable, and discretionary. Students will also learn how income is affected by taxes. Students will connect ‘Signature Strengths’ (outlined in the Financial Decision Making Using Your Strengths course) to financial behavior that will help them realize their goals. These signature strengths will be applied to student budgeting decisions as well as to their understanding of income, banking, and taxes.
Lesson 2: Investing
Students learn why it is important to invest, or grow their money, in order to meet their financial goals. Students will also learn about the different types of investments and different ways to grow their money. We also discuss gender differences in investing and have them examine how other ‘money scripting,’ due to factors such as ethnicity or race, may be playing out in their attitudes about investing. Students analyze sample investment portfolios and will learn how to make investment plans for different times in their lives.
Lesson 3: The 411 on Credit and Debt
Students learn about debt and credit. In addition to learning the basics: Credit, credit history, credit reports, how credit cards work, etc., they also learn how their credit history impacts their ability to get a job and own a home. Students will gain an understanding of the ‘true cost’ of debt, and develop strategies for maintaining healthy debt levels and credit histories. We also discuss the difference between ‘good debt’ and ‘bad debt, in other words, which debt can help them achieve their financial goals and which will be a hindrance.
Lesson 4: Insurance
Winning Play$ discusses insurance as a form a risk-management. Students examine how insurance can help protect their financial and physical well-being and help ensure that they meet their financial goals. They learn the different types of insurance, and how to “shop around” for the best policies. Students will also gain skills to help them read insurance claims and inquire and advocate for better coverage. They will be educated and empowered to make good decisions and optimize “pay outs” from insurance companies.
- Financial journalist and expert for PBS Newshour Weekend, Today Show, Huffington Post, CNN, CNNI, CBS, and Headline New.
- Author of The True Cost of Happiness: The Real Story Behind Managing Your Money. Writer, Dow Jones & Co., Wall Street Journal Television.
- Winner, U.S Department of Ed Excellence in Financial Education award.
- Advisory Committee Member for the Gloria Steinem Endowed Chair for Media, Culture, and Feminist studies at Rutgers University
StartReview and Warm-Up
StartCredit Terms/Definitions and Creditworthiness
StartCredit and Employment
StartCredit Vocabulary Part 2 and Credit Reports
StartCredit Scenarios and Review
StartShopping Around for the Best Cards
StartPaying Down Credit Card Debt and Consumer Protection Laws
StartCollege Students and Debt
StartMoney Scripts and Credit Card Debt