Financial Literacy

NRC LFS
• Goals
• Lesson objectives
• Suggested resources
• Teaching notes
• Chart indicating appropriate age groups for the key learnings offered in
each lesson
• Presentation slides
• Worksheets
• Answer keys to worksheets (when necessary)
Lesson One: Making Personal Finance
Decisions
• Each day, we are faced with many decisions. While most decisions are
simple, such as “what should I wear?” or “what should I eat?,” others
are more complex, such as “should I buy a new or used car?”  As
decision-making skills are used and improved, a person’s quality of life
is enhanced. Wiser choices result in better use of time, money, and
other resources.  This introductory lesson provides students with an
opportunity to learn more about decision-making. The lesson starts
with an overview of the decision-making process followed by a
discussion of various internal and external factors that affect
decisions.
Lesson Two: Making Money
• Building your career is one of the surest ways to increase income and
make money. When planning for the future, one of the most critical
financial decisions is determining your career path.  In this lesson,
students will be encouraged to consider various topics related to
career planning and the financial aspects of employment. This
variation of the decision-making process can help a person match
personal abilities and interests with appropriate employment
opportunities.
Lesson Three: The Art of Budgeting
• A personal budget is a financial plan that allocates future income
toward expenses, savings, and debt repayment. “Where does the
money go?” is a common dilemma faced by many individuals and
households when it comes to budgeting and money management. 
Effective money management starts with a goal and a step-by-step
plan for saving and spending. Financial goals should be realistic, be
specific, have a timeframe, and imply an action to be taken. This
lesson will encourage students to take the time and effort to develop
their own personal financial goals and budget.
Lesson Four: Living on Your Own
• As young people grow up, a common goal is to live on their own.
However, the challenges of independent living are often quite
different from their expectations. This lesson provides a reality check
for students as they investigate the costs associated with moving,
obtaining furniture and appliances, and renting an apartment.
Lesson Five: Buying a Home
• For many, buying a home is the single most important financial
decision they will make in their lifetime.  However, the process of
becoming a first-time homebuyer can be overwhelming, and requires
a foundation for basic home-buying knowledge.  This lesson will
provide students with information on buying a home and where and
how to begin the process. After comparing the differences between
renting and buying, students will be introduced to a five-step process
for home buying. This framework provides an overview for the
activities involved with selecting and purchasing a home.
Lesson Six: Banking Services
• If the fee for an ATM transaction to withdraw money is $1 and a
person withdraws money twice a week, the banking fees for that
person will be $104 a year. Over a five-year period, those fees
invested at five percent would grow to more than $570.  Most
students know that banks and other financial institutions (credit
unions, savings and loan associations) offer a variety of services.
However, few people know how to make wise choices when using
financial services. In this lesson, students will learn about the
different types of financial service products available and the features
of each.
Lesson Seven: Credit
• In today’s world, credit is integrated into everyday life. From renting a
car to reserving an airline ticket or hotel room, credit cards have
become a necessary convenience. However, using credit wisely is
critical to building a solid credit history and maintaining fiscal fitness.
While most students have a general idea about the advantages and
disadvantages of credit, this lesson provides an opportunity to discuss
these issues in more detail.
Lesson Eight: Credit Cards
• What is APR? What is a grace period? What are transaction fees?  These and
other questions will be answered in this lesson as students learn about
credit cards, and the different types of cards available and features of each,
such as bank cards, store cards, and travel and entertainment cards.
• As students start to shop for their first (or next) credit card, this lesson will
make them aware of various costs and features. Included in this section is a
discussion of the methods for calculating finance charges.  Various federal
laws protect our rights as we apply for and use credit cards, such as
procedures for disputes and protection from card theft and fraud. In this
lesson, students will also be given an opportunity to analyze the information
contained on a credit card statement.
Lesson Nine: Cars and Loans
• “Should I buy a new car or a used car?”  “Where is the best place to
finance my automobile purchase?”  “Is it better to take the rebate or
the low-rate financing plan?”  These are typical questions asked by
people buying vehicles. In this lesson, students are asked to identify
costs associated with owning and operating a motor vehicle. Since
these costs are commonly underestimated, guidelines are provided
on how much to spend when buying vehicles.
Lesson Ten: The Influence of Advertising
• In today’s modern world, advertising seems to be everywhere we
look; online, television, billboards, magazines, newspapers, on buses,
grocery carts, even cell phones.  In addition, some forms of
advertising can be subliminal, such as the strategically-placed soda
can in a movie. We can’t help but be influenced and manipulated as
consumers. In this lesson, students will become aware of the various
techniques and appeals used to influence consumer behavior.
Lesson Eleven: Consumer Awareness
• Decisions, decisions. With so many choices available to us, how can
we be sure we’re making the right decision?  Wise consumer buying
starts with a plan. Using a systematic purchasing strategy will provide
students with an ability to make more effective purchases.
Comparative shopping techniques will be discussed to encourage
students to carefully consider price, product attributes, warranties,
and store policies. Next, this lesson covers a variety of buying
methods, such as buying clubs, shopping by phone, catalogs, online,
and door-to-door selling.
Lesson Twelve: Saving and Investing
• Saving just 35 cents a day will result in more than $125 in a year. Small
amounts saved and invested can easily grow into larger sums.
However, a person must start to save.  This lesson provides students
with a basic knowledge of saving and investing. The process starts
with setting financial goals. Next, a commitment to saving is
discussed.
Lesson Fourteen: Consumer Privacy
• In today’s information age, keeping your personal financial
information private can be challenging. What you put on an
application for a loan, your payment history, where you make
purchases, and your account balances are but a few of the financial
records that can be sold to third parties and other organizations.  This
lesson, with attached budgeting activities, will encourage high school
students to take the time and effort to develop their own personal
financial goals and spending behaviors.