Understanding how to manage finances is one of the most important areas of education, and yet this is an area where many students are not taught. CompareCards.com, a trusted credit card comparison site, has recently published free financial lesson plans for middle school students and high school students. I've looked through these lesson plans and units thoroughly, and I'm looking forward to using them with our family's homeschooled teenagers.
The lesson plans, for middle schoolers and high schoolers, are designed to last about an hour in length, come complete with a quiz to test the students’ knowledge, include six exercises each, and a glossary of terms for better understanding.
For Middle Schoolers, the lesson plan centers on The Basics of Building Credit.
These lessons go over how to build and improve credit. The topics include:
- What credit is
- How credit is measured
- How to build good credit
- How to avoid bad credit
- The difference between bad credit and no credit
- How credit cards impact credit scores
- When students can start building credit
"The Basics of Building Credit" is a 15-page lesson plan e-booklet for middle schoolers, with a separate answer guide for teachers.
For High Schoolers, the lesson plan centers on Introducing the Credit Card.
Since high schoolers are only a year or two away from having their own credit card, these lessons go over:
- What a credit card is
- How a credit card works
- Fees associated with credit cards
- How to apply for a credit card
- How to avoid credit card debt
- How rewards programs work
- How to choose the right credit card
"Introducing the Credit Card" is a 19-page lesson plan e-booklet for high schoolers, with a separate answer guide for teachers.
There are also 5 units available that cover an Introduction to Investments.
These units are designed for high school students and include:
- Basics of Investing
- Bull & Bear Markets
- How to Choose Stocks
- Work of a Stock Broker
- Other Types of Investments
View the 5 Introduction to Investment units here.
By teaching our children about finances, we are helping prepare them for their near future. Research shows that students from states where a course in financial education is required had the highest financial knowledge and were more likely to have positive financial behavior. Students in these states were more likely to save money and pay off credit cards in full each month, were less likely to max out credit cards or make late payments, and less likely to be compulsive purchasers.
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