Video Library
This video was created by business students at Adam State College and explains briefly how debit and credit cards work. It also has tips on when to use one over the other. The best part of this video and its main focus is it has a detailed breakdown of the differences between credit and debit cards.
This video explains why budgeting is important. Specifically it highlights why people get into trouble when only looking at their available account balance. The main focus of the video is the Envelope Method of budgeting which it explains in detail.
This video is the first in a series on budgeting. This series talks about the importance of budgeting and goes through the steps of getting started on creating a monthly budget. For teaching financial literacy this can be a great intro to a budgeting project.
http://www.teachersdomain.org/resource/fin10.socst.personfin.manage.makingit/
In this video Hip Hop mogul and entrepreneur Russell Simmons and other music artists explain the importance of personal finance and managing your money. This video can serve a great intro on the first day of a financial literacy class or lesson to get students engaged in the subject.
http://www.teachersdomain.org/resource/fin10.socst.econ.mon.cred.diggdebt/
Strategies for getting out of debt and repairing credit scores are covered in this video which features a real life college student sharing her experiences. This is a good demonstration for students of how their credit history can impact their lives and what to do should they find themselves in trouble.
http://www.teachersdomain.org/resource/fin10.socst.personfin.manage.retirement/
Saving for retirement is the focus of this video. It covers the basics of setting up an individual retirement account. The importance of taking advantage of employer sponsored retirement programs is also covered.
http://ed.ted.com/lessons/poetic-stickup-put-the-financial-aid-in-the-bag
In this video performance artist Carvens Lissaint performs a spoken word about financial aid. He raises awareness of the lack of appropriate financial support for students. This is a great video to help motivate students in high school to go out and really work to find as much financial aid as possible their senior year.
http://www.watchknowlearn.org/Video.aspx?VideoID=4379&CategoryID=4959
This video offers step by step instructions on how to start a college savings plan. This is a great video for junior high or high school presentations where parents are in attendance. It covers the basics of 529 savings plans and the importance of saving for a child’s education as early as possible.
http://www.brainpop.com/math/dataanalysis/comparingprices/
How to compare prices is covered in this animated video. It uses the process of purchasing a phone plan as an example. The video highlights the importance of research and factoring in your actual needs before making any purchase.
In this video Hip Hop mogul and entrepreneur Russell Simmons and other music artists explain the importance of personal finance and managing your money. This video can serve a great intro on the first day of a financial literacy class or lesson to get students engaged in the subject.
http://www.teachersdomain.org/resource/fin10.socst.econ.mon.cred.diggdebt/
Strategies for getting out of debt and repairing credit scores are covered in this video which features a real life college student sharing her experiences. This is a good demonstration for students of how their credit history can impact their lives and what to do should they find themselves in trouble.
http://www.teachersdomain.org/resource/fin10.socst.personfin.manage.retirement/
Saving for retirement is the focus of this video. It covers the basics of setting up an individual retirement account. The importance of taking advantage of employer sponsored retirement programs is also covered.
http://ed.ted.com/lessons/poetic-stickup-put-the-financial-aid-in-the-bag
In this video performance artist Carvens Lissaint performs a spoken word about financial aid. He raises awareness of the lack of appropriate financial support for students. This is a great video to help motivate students in high school to go out and really work to find as much financial aid as possible their senior year.
http://www.watchknowlearn.org/Video.aspx?VideoID=4379&CategoryID=4959
This video offers step by step instructions on how to start a college savings plan. This is a great video for junior high or high school presentations where parents are in attendance. It covers the basics of 529 savings plans and the importance of saving for a child’s education as early as possible.
http://www.brainpop.com/math/dataanalysis/comparingprices/
How to compare prices is covered in this animated video. It uses the process of purchasing a phone plan as an example. The video highlights the importance of research and factoring in your actual needs before making any purchase.
This video features goes over the steps of completing the financial aid application process that is the FAFSA. It explains how the FAFSA is used by the college to determine a student’s eligibility for aid. What happens after the application has been submitted and what students need to do next is also covered.
Video Enhanced Lesson Plan
Lesson Plan Created by: Forrest Doud
Lesson Title: Budgeting and the Envelope Method
Introduction: In this lesson students will learn what budgeting is, why it is important, and how to use the envelope budgeting method.
Content Area and Grade or Age Level of Students: 9-12
Objectives: Students will have greater knowledge of what budgeting is. They will understand the factors that affect a budget. They will know how to budget their expenditures using the envelope method.
Standards Addressed: California currently has no Financial Education requirement however personal finance is permitted to be taught electively. This lesson can however fall into the Principles of Economics standard - 12.1 Students understand common economic terms and concepts and economic reasoning. California passed Senate Bill 779 in 2011 which states the following:
S.B. 779
This bill authorizes a school district, in providing instruction in economics, to include instruction related to the understanding of personal finances, including, but not limited to, budgeting, savings, credit, and identity theft. The bill requires the state Department of Education to consider a personal finances curriculum in the next cycle in which the history-social science curriculum framework is adopted.
Relative Advantage: This lesson will use video content to better engage the students. The use of videos will also allow them to pause or re-watch video content as necessary to match their own pace of learning.
Timeline: 60 - 90 minutes time will be necessary to complete this lesson. More time may be needed for students with special needs.
Materials:
- One desktop computer or laptop per group of students
- 4 envelopes per group labeled by spending category (Groceries, Rent/Mortgage, Entertainment, Transportation)
- Monopoly or other fake paper money
- Writing paper for post-lesson assessment
Grouping Strategies: Students will work in groups of two to three and share a single computer.
Learning Activities:
1. In groups of 2-3, students will watch an introductory video on budgeting (http://www.youtube.com/watch?v=8bfiXoEeYq4&feature=related) and then discuss amongst themselves what they though the most important points were and share their personal budgeting experiences.
2. Students will watch an instructional video on envelope budgeting (http://www.youtube.com/watch?v=hLXk0Y7Y6UI). Each group will receive their set of envelopes with various amounts of money placed in each of the four envelopes by the instructor. Students will be instructed they can move money between envelopes during the activity but it is to be avoided unless absolutely necessary.
3. Students will be asked to follow along with instructor in front of class. Instructor will present on white board or overhead projector several spending choices. Students will decide amongst their group what to spend their money on and remove that money from the appropriate envelope. This will equate to one day of spending. This will be repeated 30 times to represent a month of time. For certain days there will be no spending choices but instead a mandatory expense the group must pay out using the appropriate envelope. If a group runs out of money before the 30 days are up they must move to the back of the classroom.
4. At the end of the “30 Day” spending simulation each group will share with the rest of the class how much money they have left. The group with the most will share with the class the budgeting strategies they used to stay in the game.
Assessment: After completion of the lesson students will be asked to write a short 2-3 paragraph reflection paper. In the reflection paper they will be asked to describe what they learned and provide examples. They will also be asked to share whether or not they feel more knowledgeable about budgeting after completing the lesson and what they thought of the videos shown.
Adaptations for Learners with Special Needs: Students with special needs will follow the same procedures as the others students but are allotted additional time as necessary. Closed captions are available for both videos for these students if necessary and the instructor will be standing by to answer questions or provide hands on assistance as necessary.
Lesson Title: Budgeting and the Envelope Method
Introduction: In this lesson students will learn what budgeting is, why it is important, and how to use the envelope budgeting method.
Content Area and Grade or Age Level of Students: 9-12
Objectives: Students will have greater knowledge of what budgeting is. They will understand the factors that affect a budget. They will know how to budget their expenditures using the envelope method.
Standards Addressed: California currently has no Financial Education requirement however personal finance is permitted to be taught electively. This lesson can however fall into the Principles of Economics standard - 12.1 Students understand common economic terms and concepts and economic reasoning. California passed Senate Bill 779 in 2011 which states the following:
S.B. 779
This bill authorizes a school district, in providing instruction in economics, to include instruction related to the understanding of personal finances, including, but not limited to, budgeting, savings, credit, and identity theft. The bill requires the state Department of Education to consider a personal finances curriculum in the next cycle in which the history-social science curriculum framework is adopted.
Relative Advantage: This lesson will use video content to better engage the students. The use of videos will also allow them to pause or re-watch video content as necessary to match their own pace of learning.
Timeline: 60 - 90 minutes time will be necessary to complete this lesson. More time may be needed for students with special needs.
Materials:
- One desktop computer or laptop per group of students
- 4 envelopes per group labeled by spending category (Groceries, Rent/Mortgage, Entertainment, Transportation)
- Monopoly or other fake paper money
- Writing paper for post-lesson assessment
Grouping Strategies: Students will work in groups of two to three and share a single computer.
Learning Activities:
1. In groups of 2-3, students will watch an introductory video on budgeting (http://www.youtube.com/watch?v=8bfiXoEeYq4&feature=related) and then discuss amongst themselves what they though the most important points were and share their personal budgeting experiences.
2. Students will watch an instructional video on envelope budgeting (http://www.youtube.com/watch?v=hLXk0Y7Y6UI). Each group will receive their set of envelopes with various amounts of money placed in each of the four envelopes by the instructor. Students will be instructed they can move money between envelopes during the activity but it is to be avoided unless absolutely necessary.
3. Students will be asked to follow along with instructor in front of class. Instructor will present on white board or overhead projector several spending choices. Students will decide amongst their group what to spend their money on and remove that money from the appropriate envelope. This will equate to one day of spending. This will be repeated 30 times to represent a month of time. For certain days there will be no spending choices but instead a mandatory expense the group must pay out using the appropriate envelope. If a group runs out of money before the 30 days are up they must move to the back of the classroom.
4. At the end of the “30 Day” spending simulation each group will share with the rest of the class how much money they have left. The group with the most will share with the class the budgeting strategies they used to stay in the game.
Assessment: After completion of the lesson students will be asked to write a short 2-3 paragraph reflection paper. In the reflection paper they will be asked to describe what they learned and provide examples. They will also be asked to share whether or not they feel more knowledgeable about budgeting after completing the lesson and what they thought of the videos shown.
Adaptations for Learners with Special Needs: Students with special needs will follow the same procedures as the others students but are allotted additional time as necessary. Closed captions are available for both videos for these students if necessary and the instructor will be standing by to answer questions or provide hands on assistance as necessary.