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Want additional Personal Finance Materials? Check out our Personal Finance Semester Course, where this unit plan is included!
The unit can be taught in the classroom or online
Google, Windows, & Mac-friendly!
All documents are editable to meet your classroom needs.
Meets National Business Education Association Standards and ISTE Standards
This unit plan covers Using Credit in personal finance for grades 7-12.
Unit Objectives:
Students will be able to analyze and research types of credit, establishing credit, rewards, interest, and aspects of credit.
Students will understand the types of credit, how to apply for a credit card or loan, credit scores, and debt management.
Students will be able to compare the advantages and disadvantages of credit.
Through discussion and research, students will know how to analyze credit cards and compare loans vs. credit cards.
With demonstrations and applications, students will know how to calculate interest rates and APRs and compare multiple loans.
Students will be able to:
Explain when and why borrowing is used for the purchase of goods and services.
Describe the risks and responsibilities associated with using credit.
Identify the opportunity cost of credit decisions and methods of establishing and maintaining a good credit rating.
Determine the advantages and disadvantages of using credit
Describe the process to establish credit, define interest as a cost of credit and explain why it is charged.
Analyze credit card features and explain how the amount of principal, the period of the loan, and the interest rate affect the amount of interest charged.
Calculate a payment schedule for a loan and interest with a calculator.
Describe how to improve one’s credit score, analyze various sources of credit, and explain credit ratings and credit reports.
Identify strategies for effective debt management.
This unit is infused with technology and real-world application and is designed to be engaging and rigorous. It is the perfect unit for any business class.
This unit plan is conducted through lectures, engaging activities, group-paced instruction, and discussion. Assignments range from a mix of daily assignments, time, projects graded on effort/attempt, unit tests, and a project graded on overall appearance and completion of given requirements.
Included:
Unit Plan with Daily Instructions
PowerPoint is designed to deepen students' knowledge of the content
Student Notes & Answer Key
Credit 6-Part Webquest & Answer Key
Loan Comparison 4-Part Activity & Answer Key
Credit vs. Loans Infographic 4-Part Project & Rubric
Quizlet Review
Test & Answer Key
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