|
High School Financial Literacy OutlineUse the following outline to ensure that you have covered main points on introducing financial literacy to your students. - Create their own financial plan
- Planning for Life After High School
- College vs. Working
- College
- Items to pay for
- Books
- Room and Board
- Tuition
- Fun Money
- Car Payments
- Gas, etc.
- Create their own budget
- Job
- Are you feasibly going to be able to work while going to school?
- How many hours?
- How much money do you anticipate you will make?
- Research the reality of average current salaries in feasible jobs
- Propose a personal saving and investing plan
- What do you want to do / spend money on
- Create list of needs, with realistic costs
- Create list of wants, with realistic costs
- What wants needs to be sacrificed to achieve needs
- Take stock of current financial status and options
- Do you know if you have investments, life insurance, stock, etc?
- How are these managed now?
- What are your responsibilities for managing these in the future?
- How do you plan to save?
- Incorporate savings calculator
- Demonstrate how to use various financial services tools
- How to apply for checking account
- How to set up a savings account
- Learning about online banking
- Online banking
- Make sure the system you are using is free and safe
- Online bill pay services
- Check reputation
- Check fees
- Specialty Products
- Prepaid credit cards such as Visa Buxx
- Select strategies to use in handling credit and managing their debt after high school
- Borrow from parents
- Student loans
- Credit Cards / Debit Cards
- Importance of Establishing Good Credit History
- Dangers
- Spending beyond your means
- Not paying off in full every month or no plan for paying off big ticket items
- Privacy
- Buying a Wii vs. buying books
- Debt
- Good Debt
- Bad Debt
- Reckless credit card expenditures
- Unanticipated costs
- Medical expenses
- Car accidents
- Emergency travel
- Establishing a good credit history
- What is a FICO score and how is it formulated
- How much does it cost to find out your FICO score?
- How often should you check your FICO score?
- How not to fall for sales scams that ruin your credit score
And finally, - Examine how their choice of career and lifestyle will affect their financial plan
- What are your career goals?
- What sort of financial lifestyle will you lead?
- How do your career goals fit this lifestyle?
If one does not match the other, how will you make adjustments?
 |
Subscribe to this comment's feed
