Financial Literacy Basics
Introduce financial concepts
This lesson introduces students to basic financial concepts such as budgeting, saving, and understanding credit. By learning how to manage their finances through hands-on activities, students will gain essential skills needed for their financial future.
Introduce financial concepts
Whiteboard and markers, Handouts on budgeting and credit, Printed role-play scenarios, Simple Budget Worksheet, and Discussion Questions
Step 1
Introduction
10 mins
- Briefly discuss the importance of financial literacy in everyday life and future planning.
- Highlight key concepts: budgeting, saving, and understanding credit.
Step 2
Group Discussion
10 mins
- Use the handouts to explain basic concepts of budgeting and credit.
- Ask students about their understanding and experiences with money management.
- Facilitate discussion with pre-prepared questions.
Step 3
Activity 1: Create a Simple Budget
15 mins
- Distribute the Simple Budget Worksheet.
- Explain the components of a budget: income, expenses, savings.
- Have students create a budget based on a given scenario.
Step 4
Activity 2: Role-Playing Financial Scenarios
15 mins
- Divide students into small groups and assign each group a financial scenario from the printed cards.
- Students will role-play the scenario, focusing on making financial decisions.
- Groups will present their scenarios and decisions to the class.
- Summarize key points from the lesson.
- Reflect on the role-playing activity and discuss any lessons learned.
- Emphasize the importance of financial planning for personal success.
