I intended spending three days on this topic after standardized testing was completed. It ended up taking one week. This lesson can be modified very easily to take one day or five by leaving out or expanding on the various topics.
Day 1 (Lecture)
Introduce the lesson by discussing the attached PowerPoint presentation entitled Take Charge Of Your Financial Future. Ask students if they have their own bank account and what they know about credit. Is credit good or bad?
Day 2 (Discussion)
There are wonderful links on www.themint.org. You can customize this, but the following is what I went through with my students.
1. On www.themint.org, click on the Earning tab, then Starting Salaries. Allow students to look through the different professions and the associated salaries, as well as what degree is required.
2. Go to http://vpf-web.harvard.edu/ofs/payroll/pdf/hrproj-paycheck.pdf for a sample paycheck and deductions. The students will see that what they are making IS NOT what they bring home.
3. Click http://www.efmoody.com/miscellaneous/college.html to see a list of college costs to give them an idea of how much it will cost to attend college.
4. Click http://www.finaid.org/calculators/costprojector.phtml for them to see what college is expected to cost by the time they enroll.
Day 3 (More On Money and Accounts)
1. Go to http://www.cheahabank.com/calc_loan.html. This is a loan calculator. I asked the students to tell me how much they want to pay for a house. This site shows the monthly payment, the interest paid, and you can change the interest rate (high score, good rate and low score, bad rate). They are amazed by these numbers. Click on the different tabs to see graphical representations of where their money goes.
2. Click http://www.themint.org/kids/saving-tricks.html to talk about savings tips.
3. Click http://www.themint.org/kids/buy-it-or-not.html to talk about spending tips.
4. Click http://www.themint.org/kids/tracking.html and use the Tracking Your Checking Account tab to show them a check register and discuss how it is used. Click on the Writing A Check tab to show them the correct way to fill out a check. They will be doing this on their own later. Click on the Living On A Budget tab to talk about budgeting money. Spend some time at the end of class and let different students give answers to the Determing Your Budget interactive site.
Day 4 (Bank Account)
1. Click on http://www.themint.org/kids/try-it.html and pick a couple of the selections to go through as a class. I chose When Will You Be A Millionaire and Take The Spending Challenge.
2. Pass out blank checks, blank deposit slips, blank check registers, and expense tracker calendars to each student. They should begin balancing their checkbook by going through each day of the expense tracker. They can record entries as automatic payments, debit purchases, or checks. I instructed mine to fill out at least the four checks to turn in. They could record more, but they only had to fill out the four I gave them. Same with deposit slips.
Day 5 (Optional, finishing the month's expenses)
My students did not finish the previous task, so we used the next day to complete their monthly expenses. You can assign it as homework if desired. Each student should have the same ending balance, which is $319.82.