Heather Mize Mini-Lesson: Financial Literacy
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Introduction
This mini lesson serves as an engaging introduction to financial literacy. Have you ever imagined living independently? Do you truly understand what it entails? In this session, you will gain foundational knowledge and essential skills to navigate the world of personal finance with confidence. Let's explore what financial literacy is all about and why it is vital for achieving your goals.
In this mini-lesson, students will explore the fundamentals of financial independence, including creating a practical plan, developing a budget, and aligning career goals with their desired lifestyle. Designed to inspire self-reliance and forward thinking, this lesson encourages students to envision their future aspirations and take actionable steps toward achieving them. What type of career will support the lifestyle you envision? How can you successfully pursue that career path? These essential questions, and more, will be addressed in this engaging and thought-provoking mini lesson.
Needs Assessment
- The educational problem: Students often have a lack of financial literacy, basic understanding of financial concepts, limited awareness of the importance of budgeting, and difficulty in handling unpredictable expenses. Students are often not exposed to the concept of developing good money habits. Credit cards and debt often plague many young adults.
- The learners/participants are adult education students ages 16+, project can be altered for High School age.
- Analysis of gaps: Many students lack a comprehensive grasp of financial demands; students will learn effective budgeting strategies and develop the necessary skills and knowledge to achieve financial stability in order to bridge the gap of faulty assumptions. When confronted with the idea of implementing a budget, students do not know where or how to initiate this process.
- Existing efforts: students are exposed to cost of living analysis through economics discussions and class.
- Intent statement: Through class discussions, research and analysis, students will gain knowledge on incorporating a budget. Students will build on their prior knowledge while incorporating new skills learned through this mini lesson. Some personal benefits that students will obtain through this mini lesson are self-awareness, self-esteem and a sense of security in addition to the introduction of being able to set a budget and live a more financially responsible lifestyle.
Performance Objectives
After completing this mini-course, learners will be able to:
- define and explain key budgeting terms, including income, expenses, fixed/variable expenses, savings, and more
- identify sources of income (employment, gifts) and everyday expenses such as rent, utilities, entertainment and groceries. ๏ฟผ
- create a balanced budget based on a hypothetical or real income and expenses.
- evaluate their expenses and make adjustments where necessary in order to reach a balanced budget that meets their goals.
- track their income and expenses and accurately record transactions.
- identify areas of their saving, spending and habits that need improvement and implement a plan that better suits their needs.
Course Units
This mini course includes the following units. Click the title of a unit to go to its page.
Unit 1: Personal Budget [1]
Introduction
Unit1 - Lesson 1: Introduction to wants vs. needs
Unit 1 - Lesson 2: Trade-offs and Priorities
Unit 1 - Lesson 3: Vocabulary Building
Unit 2: What Job is Best for Me and My Intended Lifestyle? [2]
Career Exploration
Unit 2 - Lesson 1: Navigating O*Net
Unit 2 - Lesson 2: Personal Strengths and Weaknesses
Unit 2 - Lesson 3: Career Exploration and Planning
Unit 3: What Does It All Mean?
Putting it All Together [3]
Unit 3 - Lesson 1: Living Within Financial Means
Unit 3 - Lesson 2: Calculating Interests and Rates
Unit 3 - Lesson 3: Creating a Basic Budget
Accommodations
For this mini lesson, accommodations may need to be implemented. Accommodations may include but are not limited to extra time, instructions read, preferred seating, provide copy of notes and instructions and give explicit directions one at a time.