The Wealth Game—Factors for Success (Lesson 1A)
After playing a game simulating wealth creation, students reflect on determinants of wealth: natural abilities, effort, motivation, and luck.
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Curriculum Units
1 Hour+
Making Personal Finance Decisions Curriculum
OVERVIEW
This curriculum is a set of 20 lessons that cover 10 personal finance concepts. The lessons are grounded in economic theory and employ a variety of teaching strategies to equip students with the knowledge and skills necessary to make informed personal finance decisions.
Grade Level
Unit One: Thinking Economically
In this unit, students play “The Wealth Game” and are introduced to the PACED decisionmaking model.
Lesson 1A: The Wealth Game--Factors for Success
Lesson 1B: Making Choices and Identifying Costs
Unit Two: Planning and Tracking
In this unit, students play the inventory game and learn ways that investments can earn a return.
Lesson 2A: The Inventory Game--Net Worth and Cash Flow
Lesson 2B: Meeting Financial Goals--Rate of Return
Unit Three: Earning Income
In this unit, students learn about the importance of human capital in increasing a person's productivity and get a taste for entrepreurship.
Lesson 3A: Investing in Yourself
Lesson 3B: Entrepreneurship--Working for Yourself
Unit Four: Paying Taxes
In this unit, students learn about taxes, public vs. private goods, and the role government plays in providing goods and services.
Lesson 4A: What Are Taxes For?
Lesson 4B: Understanding Taxes
Unit Five: Budgeting
In this unit, students learn how to establish a budget and see how budgeting is an allocation problem.
Lesson 5A: Making a Budget--It Is All Spending!
Lesson 5B: Budget Trade-Offs--A Penny Here and a Penny There
Unit Six: Saving
In this unit, students learn about time preferences, simple and compound interest, and why it's important to save.
Lesson 6A: Time Preference--Why It Is Hard to Save
Lesson 6B: Simple and Compound Interest--Why It Is Great to Save
Unit Seven: Spending
In this unit, students learn about spending decisions and saving rates.
Lesson 7A: The Spending Decision--Colas and Hot Dogs
Unit Eight: Investing
In this unit, students are introduced to investment risk and evaluate investment options.
Lesson 8A: Managing Risk--Time and Diversification
Lesson 8B: Evaluating Investment Options
Unit Nine: Borrowing
In this unit, students learn about capacity, character, and collateral and weigh the benefits and costs of credit.
Lesson 9A: The Three C's of Credit
Lesson 9B: Evaluating the Benefits and Costs of Credit
Unit Ten: Protecting
In this unit, students learn about protecting themselves from identity theft and investigate whether insurance is worth buying.
Lesson 10A: The Three D's of Identity Theft
Lesson 10B: Is Insurance Worth Buying?
More in This Series
LESSONS & ACTIVITIES
31-45 MIN
LESSONS & ACTIVITIES
31-45 MIN
Making Choices and Identifying Costs (Lesson 1B)
Introduce the PACED decisionmaking model.
LESSONS & ACTIVITIES
31-45 MIN
The Inventory Game—Net Worth and Cash Flow (Lesson 2A)
Learn about net worth, cash flow, and the relationship between them.
LESSONS & ACTIVITIES
31-45 MIN
Meeting Financial Goals—Rate of Return (Lesson 2B)
Show the two ways that investments can earn a return.
LESSONS & ACTIVITIES
31-45 MIN
Investing in Yourself (Lesson 3A)
Demonstrate the importance of human capital.
LESSONS & ACTIVITIES
31-45 MIN
Entrepreneurship—Working for Yourself (Lesson 3B)
Learn about common traits of entrepreneurs.
LESSONS & ACTIVITIES
31-45 MIN
What Are Taxes For? (Lesson 4A)
Explain why the government provides some goods and services.
LESSONS & ACTIVITIES
31-45 MIN
Understanding Taxes (Lesson 4B)
Learn about factors that make various taxes different.
LESSONS & ACTIVITIES
31-45 MIN
Making a Budget—It Is All Spending! (Lesson 5A)
Discover that all elements of a budget are essentially spending on goods and services.
LESSONS & ACTIVITIES
31-45 MIN
Budget Trade-Offs—A Penny Here and a Penny There (Lesson 5B)
Illustrate that budgeting is really an allocation problem.
