Date:September 05, 2013

Customizing Your Personal Finance Course

PERSONAL FINANCE THEMES
1. GOALS & DECISION MAKING
2. CAREERS AND PLANNING
3. BUDGETING
4. SAVING AND INVESTING
5. CREDIT
6. BANKING SERVICES
7. TRANSPORTATION DECISIONS
8. HOUSING DECISIONS
9. RISK PROTECTION
PERSONAL FINANCE COURSE IN A SEMESTER
WEEK Stock Market Game Phase PERSONAL FINANCE COURSE THEMES
1 Phase 1: Before you Invest 1
2
2
3
4 Phase 2: Selecting your Investments
3
5
6 Stock Market Game Begins
4
7 Phase 3: Tracking your Investments
8
9
5
10
11
12
6
13
7
14
8
15 Phase 4: At the End of the Trading Session
9
16

Quizzes and Test Questions

ADDITIONAL RESOURCES

Teacher Personal Finance to English Language Learners: (1) a PPT Presentation, (2) a White Paper, (3) a Video.

 

Missouri Department of Higher Education:
Planning for Financial Success – A handy calendar for students heading off to college, complete with financial literacy and money management tips

 

Smart About Spending personal finance materials – An expandable, tabbed portfolio equipped with color-coded stair-stepped tabs.

 

Personal Finance Virtual Classes: Council for Economic Education’s Gen i Revolution, I Support Learning’s Personal Finance & Wealth Management.

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GOALS & DECISION MAKING
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Personal Finance Standards Council for Economic Education Lessons Free Lessons Available Online Videos Articles
Take responsibility for personal financial decisions. The Economic Way of Thinking (Financial Fitness for Life: Theme 1, Lesson 2); Decision Making (Financial Fitness for Life: Theme 1, Lesson 3)

 

Why Don’t People Save? (Learning, Earning, and Investing Lesson 15)

 

Building Wealth in the Classroom (Fed);

Cards, Cars, and Currency (Fed);

 

Its’ Your Paycheck, Lesson 1: Invest in Yourself (Fed)

 

“Get Smart: Decisions Have Consequences” (VIDEO from Financing Your Future) “Goal Setting,” “Achieve Your Financial Goals,” “Developing a Financial Goals Chart,” “Why is Goal Setting Important?” (Mind Your Finances by Inchage Education Foundation)
Find and evaluate financial information from a variety of sources. Making Credit Choices (Financial Fitness for Life: Theme 4, Lesson 12); Researching Companies (Learning, Earning, and Investing Lesson 13) Savers and Borrowers (Fed);Staying Afloat Financially in the 21st Century (EconEdLink) Consumer Action Website (Information for consumers on such topics as how to select a doctor and getting the best rate for auto insurance coverage).
Summarize major consumer protection laws. Scams and Schemes (Financial Fitness for Life: Theme 4, Lesson 19); Professor Finance and Fed Boy (Fed);Satisfaction Please! (EconEdLink)

U.S. Senate Mulls Over Bankruptcy Legislation (EconEdLink)

Better Business Bureau Lemon Law Information: Missouri / Kansas
Make financial decisions by systematically considering alternatives and consequences. How to Really be a Millionaire (Financial Fitness for Life: Theme 1, Lesson 1); Uncle Sam Takes a Bite (Financial Fitness for Life: Theme 2, Lesson 7);

Managing Your Money (Financial Fitness for Life: Theme 3, Lesson 8);

Making Credit Choices (Financial Fitness for Life: Theme 4, Lesson 12)

Water Resources (Energy, Economics, and the Environment)

National Budget Simulation (EconEdLink)Diversification and Risk Lesson Plan (Fed);

Advertising (Yes You Can PPT, PDF)

Develop communication strategies for discussing financial issues. What is Economic Justice? (Teaching the Ethical Foundations of Economics) Katrina’s Classroom: Financial Lessons from a Hurricane (Fed);Taking the First Steps (Yes You Can PPT, PDF)
Control personal information. Credit Management (Capstone) Scams and Schemes (Financial Fitness for Life: Theme 4, Lesson 19); The Costs of Credit (EconEdLink)Consumer Fraud (PwC’s Financial Literacy Curriculum)


CAREERS AND PLANNING
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Personal Finance Standards Council for Economic Education (CEE)
Lessons from CD Virtual Economics 4.0
(The lessons below can be found on the Virtual Economics 4.0 CD available through your Council for Economic Education in Missouri or Kansas for free or low cost to teachers.
Free Lessons Available Online SMG Lessons Videos and Simulations Articles
Explore career options. Making Your Own Job (Financial Fitness for Life: Theme 2, Lesson 5);
Looking for a Job (Financial Fitness for Life, Theme 2: Lesson 4);
Income and Choices (Your Credit Counts Section 1)
Why Do Some People Earn More Than Others? (Capstone, Lesson 15)
Career Survey (PwC’s Financial Literacy Curriculum)Weigh Your Options (EconEdLink)

Earning $ (Hands on Banking)

What is a Company? Economic Lowdown Podcasts: The Labor Market Unemployment (Federal Reserve Bank of St. Louis)

An Entrepreneur’s Story (MCEE)

More Than A Number: Tyshawn Taylor (University of Kansas)

“Number One Characteristic of Millionaires” (Dave Ramsey video)

Some Companies Turn to Quirky Perks for Workers USA Today, December 30, 2012Widening the Underemployment Pool – And Those Who Calculate It, from Making Sense by Paul Solman at PBS

“Career Development Planning Why is this the Key to your Successful Job Search” (Mentoring.com)

“Young JobSeekers must Prepare for Many Interview Questions” (Young Money, March 8, 2012)
“Career Planning Introduction Lesson” (Money Instructor.com)
“Many Moving Parts: A Look Inside the U.S. Labor Market” (inside the vault, Vol. 17, Issue 1, Spring 2012, The Federal Reserve Bank of St. Louis)

“The Case of the Disappearing Large-Employer Manufacturing Plants: Not Much of a Mystery After All” (Thomas J. Holmes, University of Minnesota, The Region, September 2011, pages 6-17)

“Three Interview Questions That Reveal Everything” (Jeff Haden, Inc. July 18, 2012)

How about getting a PhD? (PhD in Higher Eduation)

Identify sources of personal income. Making Your Own Job (Financial Fitness for Life: Theme 2, Lesson 5); Why Some Jobs Pay More Than Others (Financial Fitness for Life, Theme 2 Lesson 6) The Benefits of Investing Early ) (EconEdLink)
;Earning $ (Hands on Banking)
Time Value of Money (Practical Money Skills/Khan Academy) . .
Describe factors affecting take-home pay. Uncle Sam Takes a Bite (Financial Fitness for Life: Theme 2, Lesson 7); It’s Your Paycheck (Fed)Tax Time Scavenger Hunt (EconEdLink)

A Fair Wage (EconEdLink)

Wages and Me (EconEdLink)

Earning $ (Hands on Banking)

. . .


Spending Smart (Hands on Banking)

BUDGETING
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Personal Finance Standards Council for Economic Education (CEE)
Lessons from CD Virtual Economics 4.0
(The lessons below can be found on the Virtual Economics 4.0 CD available through your Council for Economic Education in Missouri or Kansas for free or low cost to teachers.
Free Lessons Available Online Videos and Simulations Articles
Develop a plan for spending and saving. Managing Your Money (Financial Fitness for Life: Theme 3, Lesson 8); What’s the Cost of Spending and Saving? (Financial Fitness for Life: Theme 5, Lesson 20)

 

Creating and Using a Budget (Capstone, Unit 3: Lesson 17)

Funding My Goals By Planning(Visa Practical Money Smarts)Spending Smart (Hands on Banking) “Get a Financial Life”(Financing Your Future)Gen I Revolution Mission 4: Budgeting

Wallet Wars (Generation Money Videos

Clipping Costs TEN, Kansas City FRB, Winter 2012“40 Money Management Tips Every College Student Should Know” (NEFE, 2011)

“Preparing a Budget” (Mind Your Finances by Incharge Education Foundation

“Resist the Urge to Splurge”)

“The Wealthy Person in You” Mind Your Finances by Incharge Education Foundation

“Simple Saving Money Tips and Advice” Money Instructor.com, register for free access to full information

“Comparing Products Online” (OnGuardOnline.gov)

“Shopping Online” (OnGuardOnline.gov)

“Do You Want to Have Three Children? First Sign a note for $2,700,000.” (Ed Douglas, Money Marathon Column, Ed Douglas Publications, August 2012)

Develop a system for keeping and using financial records. Financial Institutions (Capstone, Section 2) Calculate Expense Categories (Yes You Can PPT, PDF)Spending Smart (Hands on Banking) Budget Builder (NEFE) .
Describe how to use different payment methods. The Mathematics of Credit Card Interest and Fixed Payments (Mathematics and Economics, Lesson 15)Cash Flow and the Successful Entrepreneur (Entrepreneurship in the U.S. Economy, Lesson 22)

Banking Basics (Financial Fitness for Life: Theme 3, Lesson 9)

Payment Methods (Yes You Can PPT, PDF)Spending Smart (Hands on Banking) . .
Apply consumer skills to purchase decisions. The Economic Way of Thinking (Financial Fitness for Life: Theme 1, Lesson 2); Decision Making (Financial Fitness for Life: Theme 1, Lesson 3)

Managing Your Money (Financial Fitness for Life: Theme 3, Lesson 8);

A Roof Over Your Head (Your Credit Counts, Section 4)

Buying vs. Renting (EconEdLink)Advertising (Yes You Can PPT, PDF)

My Credit Rating: Why Should I Care? (EconEdLink)

Inflation Overview (Practical Money Skills and Khan Academy)Classroom Video: Price Elasticity (MCEE) What Is Influencing the Rise in Food Costs? TEN, KC FRB, Winter 2012, see “Ask an Economist” page 27 of this issue.“The Marketplace Fairness Bill Text” (http://marketplacefairness.org/bill-text/)
Consider charitable giving. Government and the Environment (Unit 5: Lesson 24) . . .
Develop a personal financial plan. How to Really be a Millionaire (Financial Fitness for Life: Theme 1, Lesson 1); Managing Your Money (Financial Fitness for Life: Theme 3, Lesson 8); Spending Plans (Yes You Can PPT, PDF) . Tips on how to Develop a Working Budget (BBB)


SAVING AND INVESTING
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Personal Finance Standards Council for Economic Education (CEE)Lessons from CD Virtual Economics 4.0

(The lessons below can be found on the Virtual Economics 4.0 CD available through your Council for Economic Education in Missouri or Kansas for free or low cost to teachers.

Free Lessons Available Online Stock Market Game Lessons Videos and Simulations Articles
Discuss how saving contributes to financial well-being. How to Really be a Millionaire (Financial Fitness for Life: Theme 1, Lesson 1); What’s the Cost of Spending and Saving? (Financial Fitness for Life: Theme 5, Lesson 20)

 

Building Wealth Over the Long Term (Learning, Earning, and Investing Lesson 12)

Why Don’t People Save? (Learning, Earning, and Investing, Lesson 15)

The Benefits of Investing Early (EconEdLink)

The Secrets of Saving (FEFE);

Save, Invest, and Build Wealth (Hands on Banking)

. Gen I Revolution Mission 1: Building Wealth Over the Long Term .
Explain how investing builds wealth and helps meet financial goals. How to Really be a Millionaire (Financial Fitness for Life: Theme 1, Lesson 1); What’s the Cost of Spending and Saving? (Financial Fitness for Life: Theme 5, Lesson 20)

 

Building Wealth over the Long Term (Learning, Earning, and Investing, Lesson 12)

Internet Tools and Investing (Financial Fitness for Life: Theme 5, Lesson 22)

Yes, You Can Bingo (Yes You Can PPT, PDF)

Introduction to Investing (FEFE)

Save, Invest, and Build Wealth (Hands on Banking)

What is a Stock? (SIFMA)IWhat is Diversification? (SIFMA “Get a Financial Plan” (Financing Your Future)Introduction to Compound Interest(Practical Money Skills/Khan Academy)

 

The Rule of 72 for Compound Interest (Practical Money Skills/Khan Academy)

Saving for College: Tips on 529 Plans, Scholarships USA Today, March 9, 2012

.
Evaluate investment alternatives. Investors and Investments (Learning, Earning, and Investing, Lesson 2)What is a Bond? (Learning, Earning, and Investing: Lesson 6)

What’s the Cost of Spending and Saving? (Financial Fitness for Life: Theme 5, Lesson 20)

There is No Free Lunch in Investing (Financial Fitness for Life: Theme 5, Lesson 21)

Stocks, Bonds, and Mutual Funds (Yes You Can PPT, PDF)
Stocks, Stocks, Stocks (Yes You CanPPT, PDF)Tracking a Stock (FEFE)Save, Invest, and Build Wealth (Hands on Banking)
What is a Bond? (SIFMA) Gen I Revolution Mission 6: Risk and ReturnGen I Revolution Mission 8: StocksGen I Revolution Mission 9: Bonds

Gen I Revolution Mission 10: Mutual Funds

Gen I Revolution Mission 11: Researching Companies

Gen I Revolution Mission 12: Stock Market Fundamentals

Introduction to Bonds (Practical Money Skills/Khan Academy)

Open-Ended Mutual Funds (Practical Money Skills/Khan Academy)

Stocks, Bonds, Mutual Funds, and ETFs (MCEE)

For Investors It’s All About the Dividends (USA Today, January 12, 2012) Options for getting better returns than CDs (Matt Krantz, USA Today, August 6, 2012Today)

Options for Savers Seeking Better Rates (Tara Siegel Bernard, The New York Times, July 13, 2012)

Describe how to buy and sell investments Financial Institutions in the U.S. Economy (Learning, Earning, and Investing: Lesson 11) OResearching Companies (Learning, Earning, and Investing: Lesson 13)ptions for Savers Seeking Better Rates (Tara Siegel Bernard, The New York Times, July 13, 2012) The Language of the Stock Market (FEFE)Save, Invest, and Build Wealth (Hands on Banking)

NYSE Made Easy (EconEdLink)

Identifying Ticker Symbols and Interpreting Stock Quotes (SIFMA) What it Means to Buy a Company’s Stock (Practical Money Skills/Khan Academy)How to Buy Investments (MCEE)

Economic Indicators and Investments (MCEE))

OpCalculating Total Return on a Stock is Key for Investors USA Today, February 2, 2012
Explain how taxes affect the rate of return on investments. What is a Stock? (Learning, Earning, and Investing: Lesson 4)Saving, Investing, and the Invisible Hand (Learning, Earning, and Investing: Lesson 17) Calculator for Return on Investment (360 Financial Literacy)
Investigate how agencies that regulate financial markets protect investors. The Instruments and Institutions of Modern Financial Markets (Teaching Financial Crises, Lesson 7) Understanding Financial Markets, 2007-2009 (Teaching Financial Crises, Lesson 8) Who is Ben Bernanke? (EconEdLink) How Would Raising Debt Ceiling Impact U.S. Bond Market? Research Your Broker USA Today, January 4, 2012


CREDIT
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Personal Finance Standards Council for Economic Education (CEE)Lessons from CD Virtual Economics 4.0

(The lessons below can be found on the Virtual Economics 4.0 CD available through your Council for Economic Education in Missouri or Kansas for free or low cost to teachers.

Free Lessons Available Online Videos and Simulations Articles
Identify the costs and benefits of various types of credit. What is Credit? (Financial Fitness for Life: Theme 4, Lesson 11) Making Credit Choices (Financial Fitness for Life: Theme 4, Lesson 12)

 

All About Interest (Financial Fitness for Life: Theme 4, Lesson 14)

Shopping for a Credit Card (Financial Fitness for Life: Theme 4, Lesson 15)

In Trouble (Visa Practical Money Skills)

Debt and Easy Access Credit (Yes You Can PPT, PDF)

All About Credit (Hands on Banking)<http://cas.umkc.edu/mcee/Yes%20You%20Can/Credit%20and%20Debt/Debt%20and%20Easy%20Access%20Credit.ppt/p>

Credit: Good or Bad? Central Bank Student VideosPayday Lending: Interactive Chat (FRB St. Louis)

 

“Get the Credit You Deserve” (Financing Your Future”

Annual Percentage Rate (APR) & Effective APR (Practical Money Skills/Khan Academy)

Introduction to Mortgage Loans (Practical Money Skills/Khan Academy)

The ABCs of Credit Card Finance (Center for Student Credit Card Education)

New Credit Cards Could Hurt Credit Score USA Today, December 5, 2011

TV Adviser on Money Cards Offer, NY Times, January 9, 2012.

Explain the purpose of a credit record and identify borrowers’ credit report rights. Making Credit Choices (Financial Fitness for Life: Theme 4, Lesson 12) Applying for Credit (Financial Fitness for Life: Theme 4, Lesson 13) In Trouble (Visa Practical Money Skills)All About Credit (Hands on Banking)

Show Me The Money(EconEdLink)

Credit Record and Debt Prevention (PwC’s Financial Literacy Curriculum)

Credit Repair Dave Ramsey on Raising Your FICO Score Understanding Your Credit Report (360 Degrees of Financial Literacy, AICPA)
Describe ways to avoid or correct debt problems. Making Credit Choices (Financial Fitness for Life: Theme 4, Lesson 12) Applying for Credit (Financial Fitness for Life: Theme 4, Lesson 13)

 

Shopping for a Credit Cards (Financial Fitness for Life: Theme 4, Lesson 15)

What is Credit? (Financial Fitness for Life: Theme 4, Lesson 11)

The Credit Card Mystery (EconEdLink)In Trouble (Visa Practical Money Skills)

 

Debt and Easy Access Credit (Yes You Can PPT, PDF)

All About Credit (Hands on Banking)

Gen I Revolution Mission 5: CreditDave Ramsey Debunks Some Debt Myths How Do I Improve My Credit Score (Bankrate.com)The Minimum Payment Calculator (Bankrate.com)

 

Understanding your Credit Report (360 Financial Literacy)

Credit Builder Loans Can Help Burnish Your Credit Score, NY Times, February 6, 2012 Bucks,

Summarize major consumer credit laws. Consumer Credit Protection (Financial Fitness for Life: Theme 4, Lesson 18) Shopping for an Auto Loan (Financial Fitness for Life: Theme 4, Lesson 17)

 

Scams and Schemes (Financial Fitness for Life: Theme 4, Lesson 19);

What is Credit? (Financial Fitness for Life: Theme 4, Lesson 11)

Credit Cards and Consumer Protection Laws (LifeSmarts)U.S. Senate Mulls Over Bankruptcy Legislation (EconEdLink) Q&A: Credit Card Reform (NPR)What the Credit Card Bill of Rights Means for Consumers (Boston Globe)


BANKING SRVICE
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Personal Finance Standards Financial Fitness for Life Lessons Free Lessons Available Online Videos and Simulations Articles
Develop a system for keeping and using financial records. Preparing a 1040EZ Tax Form (EconEdLink) Teach BanzaiOnline Banking: www.mint.com
Describe how to use different payment methods. Banking Basics (Financial Fitness for Life: Theme 3, Lesson 9) Using the Services of Financial Institutions (LifeSmarts)Practice, Practice: How to Record Deposits, Keep a Running
Balance, and Reconcile a Checking Account
(Visa Practical Money Skills) 
How to Open a Bank Account: Virtual Chat (FRB St. Louis)Overdraft Fees: Interactive Chat (FRB St. Louis)

 

“Get Banked: The Banking Advantage”

Gen I Revolution Mission 7: Alternative Financial Institutions

“Labor Markets and Monetary Policy” Narayana Kocherlakota, The Region,” (Minneapolis Federal Reserve Bank, May 2011)“Phishing” (OnGuardOnline.gov


TRANSPORTATION DECISIONS
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Personal Finance Standards Financial Fitness for Life Lessons Free Lessons Available Online Videos and Simulations Articles
Apply consumer skills to purchase decisions Shopping for an Auto Loan (Financial Fitness for Life: Theme 4, Lesson 17) Paying for Your Wheels (Illuminations) “The Money Marathon: Buying Cars with Cash and the Cost of Car Ownership” (www.eddouglas.com)
Explain the purpose and importance of property and liability insurance protection. Automobile Insurance Quick Quiz (LifeSmarts)


HOUSING
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Personal Finance Standards Council for Economic Education (CEE)Lessons from CD Virtual Economics 4.0

(The lessons below can be found on the Virtual Economics 4.0 CD available through your Council for Economic Education in Missouri or Kansas for free or low cost to teachers.

Free Lessons Available Online Videos and Simulations Articles
Take responsibility for personal financial decisions. Fewer Watts and Fatter Wallets (EconEdLink)“Renting an Apartment” Practical Money Skills Renting and Apartment (Text for nonfiction reading)
Find and evaluate financial information from a variety of sources. Marketplace: Real(ity) Estate (EconEdLink)
Make financial decisions by systematically considering alternatives and consequences. Shopping for a Mortgage (Financial Fitness for Life: Theme 4, Lesson 16) (EconEdLink) Moving Into My Own Place (Visa Practical Money Skills); Introduction to Mortgage Loans (Practical Money Skills/Khan Academy)
Develop communication strategies for discussing financial issues. Moving Into My Own Place (Visa Practical Money Skills)
Identify the costs and benefits of various types of credit. Shopping for a Mortgage (Financial Fitness for Life: Theme 4, Lesson 16) Mortgage Decisions (PwC’s Financial Literacy Curriculum) 18-year-old buys a house (Generation Money Videos


RISK PROTECTION
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Council for Economic Education (CEE)Lessons from CD Virtual Economics 4.0

(The lessons below can be found on the Virtual Economics 4.0 CD available through your Council for Economic Education in Missouri or Kansas for free or low cost to teachers.

Free Lessons Available Online Videos and Simulations Articles
Identify common types of risks and basic risk management methods. Why Insurance and How Does it Work? (Virtual Economics Insurance Lesson 1)Managing Risk (Financial Fitness for Life: Theme 3, Lesson 10)

A Comparison of the Panic of 1907 to the Crisis That Began in 2007 (Teaching Financial Crises, Lesson 1)

The Instruments and Institutions of Modern Financial Markets (Teaching Financial Crises, Lesson 7)

The Entrepreneur in You? (EconEdLink)Business Ownership: How Sweet it Can Be!(EconEdLink) Get Smart About Insurance Quiz (KS Dept. of Insurance)
Explain the purpose and importance of property and liability insurance protection. Managing Risk (Financial Fitness for Life: Theme 3, Lesson 10) Why Insurance and How Does it Work? (Virtual Economics Insurance Lesson 1)

The Basics of Life Insurance (Virtual Economics Insurance Lesson 2)

Everything You Ever Wanted to Know About Automobile Insurance (Virtual Economics Insurance Lesson 3)

Why Renter’s Insurance? (Virtual Economics Insurance Lesson 4)

Insurance Costs and Considerations (PwC’s Financial Literacy Curriculum)
Explain the purpose and importance of health, disability, and life insurance protection. Managing Risk (Financial Fitness for Life: Theme 3, Lesson 10) Why Insurance and How Does it Work? (Virtual Economics Insurance Lesson 1)

The Basics of Life Insurance (Virtual Economics Insurance Lesson 2)

Everything You Ever Wanted to Know About Automobile Insurance (Virtual Economics Insurance Lesson 3)

Why Renter’s Insurance? (Virtual Economics Insurance Lesson 4)

Break a Leg (EconEdLink) Term and Whole Life Insurance Policies (Practical Money Skills/Khan Academy)Insurance 101 Videos (LIFE Foundation)

Dave Ramsey Life Insurance Explained: Slams Whole Life

Dave Ramsey On Life Insurance (Cash Value vs. Term)

All About Auto Insurance (KS Dept. of Insurance)