WHAT HAPPENS WHEN STUDENTS ARE INTRODUCED TO EXPLICIT CAREER/POST-GRADUATION

CURRICULUM?
INQUIRY CAREER/POST-GRADUATION LESSON 4/4
Robert Janoski
English 2 Honors
Period 5 51 minutes
OVERVIEW/ RATIONALE
We will begin a short lecture on financial terms to familiarize students with the language and concepts
surrounding the topic. Students will be pressed to create and write down definitions of these terms in their
own words so that things dont get too jargon. Then, we will start a communal higher ed, career and life
budget calculation on the board. By coming to a consensus on this such as the amount of money students
should be looking to save or budget for certain things, students will begin to appreciate both the differences
and similarities across personal finances. We will budget for the cost of a higher education degree, then take
into account the various costs of living, and finally see what a chosen career would provide to offset this, and
determine if this is enough to let us live the lifestyle which we desire for ourselves. They will then reflect on
the lesson and the unit as a whole to provide input for future lessons.
ENDURING UNDERSTANDINGS
SWBAT begin to analyze the costs and benefits of financial choices
SWBAT understand the importance of and steps for careful budgeting
GOALS/OBJECTIVES
SWBAT articulate basic understandings of concepts such as interest, credit, loans, debit vs. credit cards, etc.
SWBAT take diligent notes, pay attention and listen to peers concerns
STANDARDS
See attached spreadsheet
MATERIALS
Board to write on
Laptop and projection capability
PROCEDURES
Terms Lecture (0-15)
Budget Calculations (15-30)
Exit Survey 4 and Unit Reflection
What was most helpful for you in these four lessons? What was least helpful? Why? What would you change,
What would you change it to? Do you think that these lessons will impact your academic performance in high
school in the future? In what way? Why or why not?
ASSESSMENT/EVALUATION
Student ability to comprehend financial literacy terms will be evident by the quality of their definitions and the
degree to which they are not direct copies. Student ability to understand importance of budgeting will be
evident by their responses in the discussion afterwards, specifically if they have are further questions or were
surprised or validated in some way.
PERSONAL REFLECTIONS / NOTES

AdjustableRateAloaninwhichtheinterestratecanchangeduringthetermoftheloan.(oppositeoffixedrateandalso
calledvariablerate.)

AnnualPercentageRateTheyearlycostoftheamountfinanced,includinginterestandanyfees,expressedasa
percentagerate(alsocalledAPR.)

AutoInsuranceAninsurancepolicytoinsurethevalueofyourautomobile.Manystatesrequireaminimuminsurance
coveragetoregisteryourvehicle.

CollateralAssetspledgedbyaborrowertosecurealoanorothercredit,andsubjecttoseizureintheeventofdefault.(also
calledsecurity.)

CosignerAnindividualotherthantheborrowerwhosignsapromissorynoteandtherebyassumesequalliabilityforit.
CreditAcontractualagreementinwhichaborrowerreceivessomethingofvaluenowandagreestorepaythelenderatsome
laterdate.

CreditReportAreportwhichwillcontainsinformationaboutapersonscredithistory.
CreditScoreAmeasureofcreditriskcalculatedfromacreditreportusingastandardizedformula.
DebtAliabilityorobligationintheformofaloan,owedbyonepersontoanotherpersonandrequiredtobepaidbyaspecified
date.

DebtConsolidationAloan,usuallysecuredwiththeequityinahome,usedtopayoffother,higherinterestdebtsresulting
inonemonthlypayment.

DelinquentFailuretomakeacontractualpaymentontime.
FixedRateAloaninwhichtheinterestratedoesnotchangeduringtheentiretermoftheloan.(oppositeofadjustablerate.)
HealthInsuranceAninsurancepolicytocoveragainsthealthclaims.TherearevarioustypessuchasHMO,PPO&HSA.
HomeownersInsuranceAninsurancetocoverthevalueofrealestate.Mostmortgagecompaniesrequirethatyouinsure
thevalueofthehometocoveragainstlosswhilethereisamortgageinplace.

InterestRateThefeechargedbyalendertoborrowermoney,expressedasanannualpercentageoftheprincipal.
LifeInsuranceAninsurancepolicytocoveragainstlossoflife.Therearevarioustypesofpolicessuchastermand
permanentinsurance.

Mortgagesecurityagreementwherehouseispledgedforaloan.PensionPlanAretirementplansetbyaemployerfor
itsemployees.

RentersInsuranceAninsurancepolicyrenterscantakeouttocoverthevalueoftheirpersonalbelongingswhilerentinga
homeorapartment.SavingsAccountAdepositaccountthatpaysinterestandallowsforunlimiteddepositsandwithdrawals.
SocialSecurityTaxAtaxwithheldfromyourpaytofundtheSocialSecurityRetirementSystem.Ifyouareself
employedyoucontributethefullpercentage,ifyouareemployedyoucontributehalfandyouremployertheotherhalf.