Personal Finance 101

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.