Adult Roles and Financial Literacy
Strand 7 Standard 1
Students will understand the services and payment options available from financial institutions, specifically checking and savings accounts and other payment methods.
Vocabulary
Use the vocabulary worksheet and key (pdf).
Primary Vocabulary
SUPPLEMENTARY VOCABULARY
FCCLA Activity Option
Consult the FCCLA Financial Fitness website.
Introduction/Pre-Assessment
Bring in a piggy bank and ask how many have a piggy bank in which to save money.
Ask students in class how many have a savings account or a debit card. (Students do no need to answer out loud.)
Ask how many students regularly reconcile their bank account if they have one.
Content Outline, Activities and Teaching Strategies
(All options do not necessarily need to be taught. Select ones to cover
standards and objectives and according to your district policies.)
Option 1: Financial Institution Overview
Use teacher notes (pdf) to go over Vocabulary Worksheet on Financial Institutions (pdf).
Have students complete the Calculate Simple Interest Worksheet (pdf) in order for
them to understand interest rates.
Option 2: FEFE Lesson - Financial Institutions
Use the teacher information to find present information about financial
institutions from FEFE Educational Resources.Plan
Step #1: Go to:http://www.fefe.arizona.edu/download-lessons. (You will need to register and log in to this website prior to use)
Step #2: Click on Educational Resources, then click on Curriculum, then click on 17.0 Values and Goals Setting.
Step #3: Click on 1.17.3 Setting Financial Goal and download the lesson plan and resources.
Students will identify terms and services associated with banking and
checking accounts.
1.7.3 Financial Institutions Lesson Plan
1.7.3.F1 Information Sheet
1.7.3.G1 PowerPoint Presentation
On this website there is a lesson plan about the different kinds of financial institutions, an information sheet about the different kinds of financial institutions as well as a powerpoint that highlights the following topics.
There are also several student activities that can be printed off once you have registered.
Option 3: Comparison of Different Institutions
Have students do a comparison of different institutions by doing a group
poster on different institutions in the area. (GFL Core Curriculum Resource
Book). Complete the Comparison of Financial Institutions Worksheet (pdf).
Option 4: Financial Accounts
Students will demonstrate the knowledge of financial transactions, checking
and savings account, and associated financial services.
Show the powerpoint on financial, checking and savings accounts from practicalmoneyskills.com.
This online lesson includes a powerpoint on how to:
There are also student activity worksheets on each of the above topics.
Step #1: Step #1: Go to http://www.practicalmoneyskills.com
Step #2: Click on School , then click on Lesson plans, then Teens
Step #3: Click on Chapter 6 (Banking Services)
You will need to register to receive a log-in and password.
Option 5: Managing a Checking Account
Use the Managing a Checking Account Check Register vs. Computer
Program Worksheet (pdf).
Use the teacher information (pdf) to see how to access the hands on banking assignment. Students will do a computer or paper method of managing a checking account including reconciling the account with the bank statement. Use the Manage a Checking Account worksheet (pdf).
For more information go to: http://www.handsonbanking.com/nav_elements/teachers_guide_PDF/YA_T_ Guide.pdf.
Option 7: Payment Methods
Students will compare the advantages and disadvantages of different
payment methods. Use Calculation Worksheet and Teacher Key (pdf) to show
different methods to pay for items. Determine which method is the most
efficient and will save the most money.
Summary/Evaluation
As people and businesses use the money to buy, borrow, and invest, it passes through many hands,
including individuals, businesses, and financial institutions, like banks. Whenever one person or group
spends money, another person or group gains money. Money is constantly moving through our
economy in a never-ending cycle. When considering a financial institution one needs to look at the
different services and fees that are offered.