Summary

This is a foundational course designed to provide students with fundamental knowledge and practical skills in finance. This course aims to empower students to make informed financial decisions, cultivate responsible financial habits, and understand key concepts in personal finance while minimizing risks.

The course begins with an introduction to money, covering different forms of currency and the basics of earning and spending. Students then explore banking and financial institutions, learning about savings accounts, interest, and the significance of budgeting for personal expenses.

As the class progresses, students delve into the principles of needs versus wants, budgeting essentials, and the concept of credit. Entrepreneurship and income generation are introduced, providing insights into various sources of income and the basics of financial planning.

The course also covers the basics of investing, with an emphasis on understanding stocks, bonds, and risk management. Additionally, students explore insurance, learning about its role in financial protection and risk mitigation.

Throughout the class, interactive activities such as budgeting projects, simulated stock market games, and real-world case studies enhance the learning experience. The class concludes with a review of key concepts and a reflection on the importance of setting and achieving financial goals.

By the end of Finance class, students will have developed a solid foundation in personal finance, gained practical skills applicable to their daily lives, and be better equipped to navigate financial decisions with confidence. This course serves as a crucial step in building financial literacy and promoting responsible financial behavior.

Textbook:

Business and Personal Finance, Student Edition (to be provided)

Weeks 1-3: Introduction to Money and Currency

•  Understanding the concept and history of money

•  Identification of different types of currency

•  Basics of earning and spending

Weeks 4-6: Banking and Financial Institutions

•  Introduction to banks and credit unions

•  Basics of savings accounts and interest

•  Understanding the purpose of ATMs

•  Introduction to global financial systems and systemic risk

Weeks 7-9: Budgeting and Financial Planning

• Differentiating between needs and wants

•  Basics of budgeting for personal expenses

•  Activity: "My Monthly Budget" project

Weeks 10-12: Introduction to Credit

•  Understanding the concept of credit

•  Basics of responsible credit card use

•  Introduction to loans and interest rates

Weeks 13-15: Entrepreneurship and Income

•  Introduction to entrepreneurship and business

•  Understanding different sources of income

•  Classroom activity: "Business Plan" project where students create a draft business idea

Weeks 16-18: Basics of Investing

•  Introduction to the concept of investments

•  Understanding stocks and bonds

•  Classroom activity: Simulated stock market game

Weeks 19-21: Risk Management and Insurance

•  Understanding the concept of risk in personal finance

•  Introduction to different types of insurance (health, auto, etc.)

•  Classroom activity: "Risk and Protection" project

Weeks 22-24: Financial Goals and Planning

•  Setting short-term and long-term financial goals

•  Basics of financial planning for the future

•  Classroom activity: Creating a personal financial plan

Week 25: Review, Reflection, and Future Steps

•  Recap of key concepts learned throughout the course

•  Reflection on personal financial habits and improvements

•  Goal-setting for continued financial education and responsibility

•  Celebration and certificates for completing the finance education program