Summary
Debt is a tradeoff where you spend future income to satisfy a present want. In this lesson, students finish the Life Scenarios game, vocab, and posttest, and learn more about the price of debt. This includes interest, APR, and types of debt.
Bellringer: Minimum Payments
- Identify the difference between a minimum and full debt payment
Instruction
- Define debt as a legal obligation and calculate simple interest
- Compare typical rates across credit cards, auto loans, and mortgages
- Break down loan variables—principal, rate, term, down payment—and how they trade off
Activity: Life Scenarios Game
- Students return to the Life Scenarios game from lessons 3 & 4
- Allow 25 minutes to finish the game and complete the posttest
Discussion: What Loan Variable Matters Most?
- Which loan variable do you have the most control over?
- Which variable has the biggest impact on total cost?
Wrap-Up & Assessment
- What happens to your monthly payment AND overall cost if you choose a longer term?
- Why is it dangerous to only pay the minimum balance on a credit card bill?
| Est. Time | Activity | Description |
|---|---|---|
| 5 min | Bellringer: Minimum Payments |
|
| 10 min | Instruction |
|
| 20 min | Activity: Life Scenarios Game |
|
| 5 min | Discussion: What Loan Variable Matters Most? |
|
| 5 min | Wrap-Up & Assessment |
|
Lesson Prep
Life Scenarios
Explore real-life financial scenarios without the real-life consequences.
Life Scenarios Posttest
Discover what students have learned.
Life Scenarios Vocab
Review the vocab terms from Life Scenarios.
Class Presentation
Includes an 18-slide deck with teacher notes. Present from Banzai, download a PDF, or copy it to Google Slides.
Presentations, Ready to Go
- Built-in PresentationPresent full screen, straight from Banzai
- Copy to Google SlidesMake an editable copy for your class
- Download or PrintSave as a PDF or print
- Teacher NotesSlide-by-slide guidance, printable as one handout
Financial Essentials
Banking
Banking is the system used to track and protect money. Learn about account types, deposit insurance, fees, and the difference between credit and debit cards. Students continue the Life Scenarios game.
Intro to Debt
Debt is a tradeoff where you spend future income to satisfy a present want. In this lesson, students finish the Life Scenarios game, vocab, and posttest, and learn more about the price of debt. This includes interest, APR, and types of debt.
Credit Reports
Before there's a score, there's a report. This lesson outlines what a credit report is, where it comes from, how to read it, and how to fix it.
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