Content Area: Career Education and Consumer, Family, and Life Skills

 

Index: 9.2E Grade 12 CPI 7

 

Standard: 9.2 - Consumer, Family, and Life Skills

 

Strand: E - Consumer and Personal Finance

 

Cumulative Progress Indicator: 7 -  The student will evaluate the actions a consumer might take in response to excess debt and personal financial status.

 

Grade: 12

 

Sample Activities:

 

·        A public relations firm has been hired to develop and produce a documentary alerting young adults to the need for fiscal responsibility when using credit cards. As an employee, you have been asked to develop a five-minute demo for the client

 

·       Budgeting:  The First Step to Financial Freedom

 

·       The Finances of Purchasing Your First Home

 

·        Refer to www.careoncredit.com, read their facts and figures on credit and credit debt. Discuss terminology related to credit.

 

·        Provide situations of people in various stages of their lives with different degrees of credit issues. Students will develop an overall recommendation and locate resources to develop a budget for each situation. Students will also research bankruptcy issues.

 

·        Discuss APR and The Real Cost of Credit (credit cards, loans, etc.). Using either online or using paper applications, students will calculate the cost of credit using different percentage rates and different methods of calculating finance charges to determine the real cost of purchasing on credit.

 

·        Student credit cards: Once a student turns 18 (or goes off to college), they are often inundated with offers by banks to sign up for credit cards. When is it wise to have a credit card? What are the advantages and disadvantages of having a credit card? Model and display a credit report, discuss the components and uses of credit reports. What are the steps and resources available to resolve a credit problem or dispute? Where can they go to seek help if they have gotten into credit trouble?

 

·        Discuss the different types of debt consolidation. What do you do if you just can’t get out of debt? Discuss bankruptcy and the effects of bankruptcy on your personal financial status. Invite a financial planner, credit counselor, accountant, or lawyer to talk to the students about the possible drawbacks of credit.

 

·        Invite a financial planner or credit counselor to come in to speak. Hold a financial health day and have different speakers talk to the students about finances and avoiding excess debt. Refer to Equifax, Experian, and Transunion websites. See also www.cccsgulfcoast.org.

 

·        Crime Scene Investigation: Has Someone Stolen Your Identify?

 

·       Does Your Money Really Grow On Trees?

 

·       Reality Check: Lending Rip-Offs