08 Defining Personal Finance

Unit Description

Students will learn and develop knowledge of financial literacy by understanding the ABC’s of checking, savings and investment accounts, and the importance of maintaining a healthy checking account. They will develop an appreciation for setting financial goals, building monthly budgets, establishing and maintaining good credit, proper use of credit cards, managing credit issues and securing tax records.

Goal:

Youth will learn the basics of financial literacy and personal finance. They will learn the concepts of banking services and will understand what it means to have a successful financial plan.

Objectives:
•    Students will define personal finance.
•    Students will acknowledge personal spending value.
•    Students will evaluate personal financial lifestyle.
•    Students will acknowledge the financial planning process.

Context    

Having a well established financial plan is very important as we face new economic challenges, which deeply affect our lives. Therefore, having the ability to prioritize and examine our lifestyles is necessary in order to reduce our stress levels associated with financial instability.

Procedure:

  • Introduction: view and study  the YouTube video: Three Principles of Personal Finance