LESSON 6.1 FINANCIAL LITERACY

LESSON 6.1 FINANCIAL LITERACY

​3 main ideas...

​A)Budgeting

​B)Credit vs Debit

​C)Identity Theft

What Is a Budget?

How much does your favorite snack cost? How many dollars do you spend each week? Can you spend less money to save some? Making a budget is a good way to answer those questions. A budget is a plan for how to spend and save money. Companies and countries have budgets to manage their spending.

Multiple Choice

What is a plan for how to spend and save money?

• A. a gift

• B. a budget

• C. a company

What does it mean?

The money you spend = the money you make

Solve in your NOTECARD.

Add all of the income.

Add all of the expenses.

Multiple Select

What is Angie's total income?

• $18.50

• $20.50

• $30.50

Multiple Select

What are Angie's total expenses?

• $30.00

• $31.59

• $20.80

Credit Cards

• Buy now, pay later

• Interest charged if borrowed amount is not fully repaid

• Spending limit

• Withdrawal fee

Debit Cards

• Money immediately removed from the bank account

• Linked to a checking or savings account

• Withdraw cash

• Spend only what you have in your bank account

Checking Account

• A bank account

• Make deposits or withdrawals from your account

• Transfer funds (money) between another bank account

• Balance your account with a check register

Multiple Choice

Matthew dislikes that when he gets behind on his payments he will be charged interest.

• Credit Card

• Debit Card

Multiple Choice

Evelyn dislikes that this method of payment will charge her an overdraft fee if she accidently tries to spend more than is in her account.

• Credit Card

• Debit Card

Multiple Choice

Trey likes that this method of payment allows him to take money out of an ATM as well as get cash back at various stores.

• Credit Card

• Debit Card

Identity theft - Video

Take note of all the ways you can protect yourself from identity theft.

Open Ended

Write/type as many ways to protect yourself from identity theft as you can remember mentioned in the video.

Practice

Your friend just got a new credit card and wants to know how she can protect herself from credit card fraud. You are eager to share the information you just learned with him. Fill in the blanks in the following slides so that you can tell him what steps to take.

Open Ended

Your friend just got a new credit card and wants to know how she can protect herself from credit card fraud. You are eager to share the information you just learned with him. What steps do you think he/she should take?

Draw

DRAW ONE THING YOU LEARNED ABOUT BEING

SMART WITH MONEY FROM TODAY'S LESSON...

QUIZ TIME

LESSON 6.1 QUIZ

YOUR GRADE FOR LESSON 6.1 IS BASED ON YOUR QUIZ SCORE. CLICK THE LINK AND TAKE THE QUIZ.