Financial Literacy
Overview
About Financial Literacy
Every student needs to manage their finances now, and throughout adulthood. Financial Literacy addresses the need for all students to learn how to earn, invest, manage and keep their money. Through exciting, student-centered activities and projects that require 21st century skills, our students will master career explorations, money management, credit, saving and investing, informed purchasing, civic financial responsibility and risk management. This course will satisfy the 2.5 credits in Financial Literacy mandated by the State of New Jersey.
PREREQUISITE: None
By participating in the H&R Block Budget Challenge, students will learn and practice real-world money management skills:
Balancing current and future cash needs: Maximizing tax-deferred savings while maintaining enough money in a checking account to pay for bills. Students' skill at balancing the present while building for the future is evaluated by the amount of money saved into a 401(k) savings account.
Paying bills on time and on budget: Managing cash flow on a tight budget. This skill is evaluated by fee avoidance, with a special emphasis on timeliness of bill payments.
Resourcefulness, understanding and practical application of financial concepts: This means being proactive in searching for information and applying it to benefit on a quiz, or in communicating with vendor customer service to resolve any unexpected issues that may arise. This skill is evaluated by quiz points and any point rewards from negotiation with customer service.
“Timing is everything”
In this game, like in real life, timing is at the heart of putting all of these skills together in real time to balance students' budget and save for the future.
Job Applications
Click here for Example
Practicing and reviewing Employment Applications with benefit students in the near future. Click the link above to see an example of an application we complete in class.
Online Bill Pay
Click here for Example
Learning 21st century skills and applying them to budgeting, banking, and other aspects of Financial Literacy is extremely important to ensure future financial success.
By using a bank's Bill Pay process, the example linked above give students practice with using online Bill Pay to pay individuals and accounts with account numbers. The importance of completing this with accuracy is emphasized.