Banking & Credit – Fall Semester 2015

Course Outline

Contact Information

Teacher / Mr. Dan Gerken
Lake Shore Central – Class of 1980
Rochester Institute of Technology
Bachelors of Science in Business Admin
Daemen College
Teacher Certification
Buffalo State College
Masters of Science in Educational Technology
School Phone: / (716) 926-2286
School E-mail: /
Twitter: / @AOBF_Gerk
Classroom Text: / Business and Personal Finance – Glencoe
National Endowment for Financial Education – High School Financial Planning Program
Text Companion Site /
Class Web Site / / go to Senior High / Teacher Web Sites / Business – Gerken
Google Classroom – Students can join the class with this code: h31nvn
Supplies / Bring a notebook (with any handouts and notes distributed), writing utensil and positive attitude each day

Curriculum – Objectives, Outcomes, Activities

Money Management: Control Your Cash Flow: goal setting – decision making – spending plan & budget – money management tips

Lesson 1-1 Money Habits - Explore how spending, saving and values impact your finances

  • Objectives
  • Discuss the value of having a process to plan how they will use their money.
  • Give examples of sensible and unwise spending decisions and behaviors.
  • Compare spending priorities.
  • Students will use what they learn to outline a personal money motto that describes how they value and use money
  • Activities – may include all or some of the following:
  • Activity 1.1: My Money Habits
  • Activity 1.2: My Disappearing Dollars
  • Activity 1.3: Why Wait?
  • Activity 1.4: My Needs and Wants
  • Activity 1.5: My Values
  • Stop Drop and Think Before You Buy Test
  • Task: Values and Spending Survey
  • Assessment: My Personal Money Motto
  • Taking it Home: Compare Values

Lesson 1-2 Goals - Set financial goals that are specific and measurable.

  • Objectives
  • Discuss How personal goals can be achieved through money goals.
  • Explain how to write an effective financial goal.
  • Discuss how to prioritize actions while working to achieve several goals at the same time.
  • Students will use what they learn to write personal financial goals for their spending, particularly for large purchases.
  • Activities – may include all or some of the following:
  • Activity 1.6: SMART Goal Makeover
  • Task: SMART Goal Rework
  • Assessment Challenge 1-A: My SMART Goals
  • Taking it Home: Talk to Adult About Goals

Lesson 1-3 Decision - Apply strategies to be mindful about spending decisions.

  • Objectives
  • Discuss what influences your spending decisions.
  • Identify tools and strategies you can use to better manage your spending habits.
  • Demonstrate how the criterion-based decision-making process works.
  • Students will use what they learn to make a deliberate decision for a major spending purchase.
  • Activities – may include all or some of the following:
  • Task: DECIDE on a Car
  • Assessment Challenge 1-B: My Decision
  • Taking it Home: Family Spending Decision

Lesson 1-4 Spending Plan - Create a spending plan to reach your goals.

  • Objectives
  • Discuss how a spending plan can help you manage your spending habits.
  • Describe what a spending plan is.
  • Explain how to use a spending plan.
  • Students will use what they learn to create a plan to guide their spending, particularly for large purchases.
  • Activities – may include all or some of the following:
  • Activity 1.7: My Income
  • Activity 1.8: My Expenses
  • Task: Maya’s Spending Plan
  • Assessment Challenge 1-C: My Spending Plan
  • Taking it Home: Jump$tart Reality Check

Lesson 1-5 Cash Flow - Figure out ways to maintain a positive cash flow.

  • Objectives
  • Identify how to plug spending leaks.
  • List strategies to stick to a spending plan.
  • Discuss ways to be prepared for unexpected money events.
  • Students will use what they learn to develop strategies to control their spending.
  • Activities – may include all or some of the following:
  • Activity 1.9: My Income Options
  • Activity 1.10: My Spending Leaks
  • Game: Green Reaper
  • Task: Money Flow Letter
  • Task: Self Management Assessment
  • Assessment Challenge 1-D: My Action Plan
  • Taking it Home: Spendster Videos

Borrowing: Use—Don’t Abuse: application process – loans – credit cards – costs – credit score – debt – rights & responsibilities

Lesson 2-1Using Credit - Weigh the benefits and risks of borrowing.

  • Objectives
  • Discuss why people borrow.
  • Give examples of acceptable and unacceptable situations to use credit.
  • Explain how borrowing impacts spending power.
  • Activities
  • Task: What Do You Think?
  • Activity 2.1: Borrowing Fitness Test
  • Activity 2.2: What is the Reason?
  • Task: News Summary (Optional)
  • Assessment: Role Play

Lesson 2-2Credit Costs - Compare the costs and terms of borrowing options.

  • Objectives
  • Give examples of how credit is used.
  • Identify typical costs and terms of credit.
  • Calculate the cost of using credit.
  • Activities
  • Task: Pick an Option
  • Activity 2.3: Simply Tell the Total
  • Activity 2.4: What is the Average Payment?
  • Activity 2.5: Choose the Best Deal (Optional)
  • Assessment Challenge 2-A: DECIDE the Best Deal for You
  • Taking it Home: Compare Phone Plans

Lesson 2-3Credit Rating - Start the journey to establish a good credit rating.

  • Objectives
  • Outline the credit application process.
  • Describe what lenders consider when deciding whether to approve or deny a credit request.
  • Explain how creditors investigate someone’s borrowing habits.
  • Activities
  • Task: Can I Borrow ... ?
  • Task: Credit Application
  • Task: Applications for Review
  • Activity 2-8: Put Your Best Foot Forward
  • Assessment Challenge 2-B: Building Creditworthiness
  • Taking it Home: Investigate Late Payment Penalties
  • Taking it Home: Review a Credit Report

Lesson 2-4Rights and Responsibilities - Explore the rights and responsibilities of borrowers and lenders.

  • Objectives
  • Explain a borrower’s legal rights and responsibilities when agreeing to a contract.
  • Recite guidelines for borrowing limits.
  • State where to get help with credit issues.
  • Activities
  • Activity 2.6: Good and Bad Uses of Credit
  • Activity 2.7: Know the Limit
  • Activity 2.9: Rights and Responsibilities of Borrowing
  • Assessment Challenge 2-C: Credit Code of Behavior
  • Taking it Home: Family Contract

Lesson 2-5Identity Fraud - Protect yourself from identity fraud.

  • Objectives
  • Give examples of identity fraud.
  • Describe how to address problems of fraud.
  • Give examples of ways to protect against fraud.
  • Activities
  • Task: What’s in Your Wallet?
  • Activity 2.10: Take Preventative Action
  • Assessment: Protection Identity Checklist
  • Taking it Home: Test ID Theft Savviness
  • Taking it Home: Online Privacy Settings

Earning Power: More Than a Paycheck: earning potential – career plan – life stages – employee benefits – take-home pay – lifestyle

Lesson 3-1Invest in Self - Explore the payoffs of investing in yourself.

  • Objectives
  • Discuss the value of investing in yourself.
  • Identify how education can impact earnings.
  • List strategies to minimize the costs of education.
  • Activities
  • Task: What is it Worth to be in Class?
  • Task: Building a Path to My Career
  • Task: Compare Options
  • Activity 3.1: What do YOU Think? (optional)
  • Activity 3.2: My Interests
  • Activity 3.3: Worth Checking Out
  • Activity 3.4: My Investment in Me (optional)
  • Activity 3.5: What is the Cost?
  • Activity 3.6: Worth the Cost?
  • Activity 3.12: Advice for Kevin (optonal)
  • Assessment Challenge 3-A: Education Options

Lesson 3-2Job Benefits and Costs - Measure the value of employee benefits.

  • Objectives
  • Identify common types of employee benefits.
  • Give examples of hidden costs of employment.
  • List criteria to consider when making decisions about where to work.
  • Activities
  • Task: Which Summer Job?
  • Task: Work Settng Preferences (optional)
  • Task: Hidden Costs of Employment
  • Task: Benefits Analysis (optional)
  • Activity 3.9: Compare Employment Benefits
  • Activity 3.10: The Costs of Working
  • Assessment Challenge 3-B: Thumbs Up or Down?
  • Taking it Home: Investigate Job Benefits

Lesson 3-3Pay and Taxes - Assess factors that impact personal tax liability and take-home pay.

  • Objectives
  • Calculate net pay.
  • List factors that impact income tax liability.
  • List factors that impact net pay.
  • Activities
  • Task: Figure the Net Pay
  • Activity 3.7: Get the W-4 Right
  • Activity 3.8: Check it Out!
  • Assessment Challenge 3-B: Thumbs Up or Down?
  • Taking it Home: Examine a Paystub

Lesson 3-4Lifestyle - Start down the path to achieving your lifestyle and financial goals.

  • Objectives
  • Identify trends that can potentially impact options in the workplace.
  • Explore how a values and preferences impact career and job choices.
  • Discuss how the cost of living can impact cash flow and lifestyle.
  • Activities
  • Task: Work Setting Preferences
  • Task: My Future Life
  • Task: Should I Stay or Go?
  • Task: Tale of Two Cities
  • Activity 3.11: My Values at Work
  • Assessment Challenge 3-D: Plan for My Career
  • Taking it Home: Interview

Lesson 3-5Plan for Changes - Prepare to deal with life and work changes.

  • Objectives
  • Give examples of work-related changes that can impact financial status.
  • Discuss ways to deal with irregular income.
  • Identify skills, knowledge, and attitudes that employers value in the workplace.
  • Consider entrepreneurial possibilities.
  • Activities
  • Success Stories
  • Task: Work for Myself
  • Activity 3.13: Downsizing My Financial Plan
  • Assessment Challenge 3-C: My Accomplishments
  • Assessment Challenge 3-D: Plan for My Career
  • Taking it Home: Interview
  • Taking it Home: Seek Out a Mentor

Banking & Financial Services

Lesson 5-1 Checking Accounts – Use a checking account

  • Objectives
  • Discuss reasons to use check payments
  • Demonstrate how to use a checking account
  • Explain how to reconcile a checking account
  • Activities
  • Zoe’s Bucks
  • Activity 5.1 Proof of Payment
  • Activity 5.2 Check Writing 101
  • Activity 5.3 Make the Deposit
  • Activity 5.4 Keeping Track
  • Checkbook Register Assignment
  • Activity 5.5 Does it Balance?
  • Practice Set – Simulation
  • Assessment Challenge 5-A: Use a Checking Account
  • Taking it Home: Check Cashing Services

Lesson 5-2 Financial Tools and Technology – Select banking tools and technology to handle personal business transactions

  • Objectives
  • Give examples of tools and strategies used by consumers to transfer money for personal banking and shopping transactions
  • Discuss recent technology trends that impact how consumers conduct business
  • Match types of banking and spending tools and technology with consumer life situations
  • Activities
  • Task: Other Ways to Pay
  • Task: Find the Right Match
  • Activity 5.7: Get Jason Organized
  • Assessment Challenge 5-C: Selecting My Services
  • Taking it Home: Electronic Services

Lesson 5-3 Financial Fraud – Protect your personal account information

  • Objectives
  • Give examples of how people are victims of fraud
  • Discuss ways to protect personal and financial information
  • Describe what to do when you are a victim of fraud
  • Activities
  • Task: Is the Check Valid?
  • Activity 5.8: Deal with Deception
  • Assessment Challenge 3-D: Scam Action Plan

Lesson 5-4 Financial Service Providers – Select a financial service provider

  • Objectives
  • Give examples of services provided by different types of financial institutions
  • Review guidelines for suing banking services
  • Discuss criteria to consider when choosing where to use banking services
  • Activities
  • Activity 5.6: What do They Offer?
  • Assessment Challenge 5-B: Which is Best for Me?
  • Taking it Home: Money on the Road

Culminating Budget Project – more information to come