financial-literacy-unit

8/7/2019 financial-literacy-unit

1/14


2/14

Durng the current [economc] cr many people have lot

ther home

Whatisacisis?

Dyueetheeectsthiseciccisis?

Hwhasitaectedyu,yuaiyyuieds?

Iite studets to share their aswers with the whole lass to hek thatthe hae uderstood the ai poits o the iteriew.

3. AwstudetstietwitesietyiessettheuestiHw

hastheecicchaeaectedyuyuaiy?Theaskthe

to share with the whole lass oe o the eets the etio i this

writig exerise.

4. Selet oe o the eets idetifed i the writig exerise to

deostrate id appig, a tehique used to pla essas. O the

board, write a ause (e.g., bad eoo) at the eter ad show the

arious eets radiatig out. I additio, it a be helpul to diagra

a ausal hai, whih ore learl illustrates a hai reatio ad

ollows a straight liear path.

Write the ause (bad eoo) i the eter. Ask studets to hoose

oe o the diagraati ors ad fll i the eets o the eooi

hage that the idetifed i their writig.

ExAmplE of mInD mAppIng

ExAmplE of CAUSAl CHAIn

styjbstyheathisuaceydiabetestwse

TArgETgroUp

Iterediate- to high-leel ESL studets

(leels 6 through 8). (or the purpose o

this lesso, the target group leels rage

ro 1 through 8, with the ollowig

guidelies: 1 = begiig,

5 = iterediate, 8 =adaed.)

lEn g TH

ie lass periods o approxiatel

2 hours eah

mATERIALS

Youth Voce on the Economy

youth Radio iteriews with three

oug people about the eet the

urret eoo has had o their

persoal lies, health ad studies;

aailable at http://www.outhradio.org/

ews/outh-oies-eoo

Beehve a website produed b the

oproft orgaizatio Oe Eoothat proides ioratio ad

resoures about oe, health,

jbs,schadaiy;

http://www.thebeehie.org

Budget Bulder Tool eables ou to

alulate our othl expeses ad

reate isual pie harts ad bar graphs

to aid i the trakig ad otrol o

our spedig; aailable uder

Spedig Wisel at

http://thebeehie.org/oe

Track Your Expene dowloadable

worksheet; aailable at http://www.

thebeehie.org/sites/deault/fles/Tack_Yu_Eeses_by_Had.d

Undertandng Check Cahng and

Payday Loan artile aailable at

http://thebeehie.org/oe/sped-it/

uderstadig-hek-ashig-ad-

pada-loas

Open a Bank or Credt Unon

Account n Your Communty

artile aailable at http://www.

thebeehie.org/oe/sae-it/ope-

bak-aout

Queton to Ak Before Openng a

New Bank Account artile

aailable at http://www.thebeehie.org/oe/sae-it/ope-bak-

aout/questios-ask-opeig-ew-

bak-aout

HoungaiaetheHusi

sectitheBeehiveswebsite;

proides liks to ultiple tools ad

topis related to housig; aailable at

http://www.thebeehie.org/housig

ewer hours i ostrutio work

catbuyasca hadttakeawe-ayijb

o oe or isurae

BAD ECONOMY


3/14

5. BeeitBeehivesBudetBuide,aiiaizestudetswiththe

oabular used i the Budget Builder. The a work i pairs or sall

groups to write the letter o the defitio ext to the word it defes.

Houng and Urban

Development page otheHUDwebsitethataids

i the searh or subsidizedhousig i calioria;aailable at http://www.hud.go/apps/setio8/step2.c?state=CA%2CCaiia

Predatory Lendng artilethat disusses how to protetoursel ro predator leders;aailable at http://www.thebeehie.org/housig/how-bu/what-look-out/predator-ledig

Type of Loan proides liksto artiles about dieret tpeso loas; aailable at http://www.thebeehie.org/housig/how-bu/lear-about-tpes-loas

Dont Get Clobbered by

Credt Card! artile roParade agazie, published

8/10/2008; aailable athttp://www.parade.o/hot-topis/0808/dot-get-lobbered-b-redit-ards

mortgage

1) ______

a. ou pa the sae aout eer oth

Loa

2) ______

b. soeties ou sped ore, soeties less

Ioe

3) ______

. oe borrowed to pa or a house

Expeses

4) ______

d. oe borrowed ro a bak or a reaso

Budget

5) ______

e. ou owe oe ad eed to gie it bak

BeiDebt

6) ______

. giig oe to poor people who eed it

charit

7) ______

g. the oe ou sped o eah thig eah oth

ixed expese

8) ______

h. thigs ou hae to pa or

variable expese

9) ______

i.theeyyueayujb

Utilities

10) ______

j.buyw,ayate

gceies

11) ______k. eletriit, water ad gas or our hoe

credit

12) ______

l. the ood ou bu to ook at hoe


4/14

Extenon Actvte

Diectstudetsthttp://eslhoebuig.edublogs.org/ad ask the to fd

the blog etr Rentng V. Buyng a Home. The should liste to the Elllo

Iteriew (552 Ret or Ow) ad take the iteratie quiz at

http://www.elllo.org/eglish/0551/T552-mark-Retig.htl.

Suggest studets wathEpode 1

roTo the Front Door

athttp://www.thebeehie.org/housig/prepare-bu/ideo-rot-door.

The ask studets the ollowig questios:

WhydesKeviwattbuyahe?

HwdestheheweshiamAnnAHusehehi?

6. Ask studets to fll i the blaks i the oersatio with oe o the

12 words ro the box.

Ana: Ater I pa ret, I hae er little oe or other

_______________ like groeries, eletriit, gas ad water. I wish the

___________________ were ot so expesie, but we use as a lot i

the hot weather!

Carla: I kow what ou ea! I a ow i ________________ beause I

used redit ard to pa utilit bills. It is ot good to sped ore

eah oth tha our total ____________________.

Ana:Ikw,butsetiesitshad.Itytwiteutaa,yukw,

a __________________ or how uh I will sped or eah thig. But

theeisawaysasuiseaeeecy.mykidseschiseasy

tedict,itsa__________eese.Butthethis,ikeweddisesetsadtheiceasie,Icatct.

Carla: I a araid that I will hae a bad _______________ histor, ad o

bak will gie e a ____________ whe I wat to bu a house soeda.

Ana: That a aet our ___________ sorebut the good ews is

houses ost less ow!

Iite idiidual studets to share their aswers or eah questio with

the lass.

ortgage loa ioe expeses

harit groeries fxed expeses ariable expese

utilities redit budget be i debt


5/14

Day TwO: Actvty 1 Demontratng How to Ue the

Onlne Budget Tool

The budget tool o Beehie.org (uder Spedig Wisel at http://www.

thebeehie.org/oe) oers a resoure or alulatig othl expeses,

the shows a isual represetatio o the proportios i pie graphs ad

harts. Note: Beore students use the Budget Builder tool, they will needto set up an account, choose a password, check their personal email or the

confrmation and click the link in the email to enter the Budget Builder. They

may need help with this.

1. Havestudetstthewebsiteadesdttheuesti

about their aerage total ioe ad its soure. The ould sroll

dow to hage ro othl to weekl, but or the purposes o the

deostratio it is probabl ost helpul to stik to mothl, whih is

the deault settig.

Ask studets or their realisti othl ioe. I the hae ore

thaejb,thebuebuttdisays+adde,eabithet

isteaisdieetjbseachth.Thetwittatheautoatiall.

2. I aswer to the questio at the botto about goeret aid heks,

hae studets lik no. This will get the to the ext page.

Poit out that ro there o, at the ed o eah page, the blue butto

optios are either Preious or Sae / next. To go bak ad hage

ubers at a tie, the a lik the blue bubble with the questio

ark.

3. ixed Expeses: Start with Ret or mortgage Paets. clik the blue

box ext to the Ret ategor saig Work o This.

4. variable Expeses: clik next to go to ariable expeses like gas,

ood, hild are ad utilities. Ask studets what expeses utilities,

groeries ad tuitio represet. (utilities: natural gas, electricity, phone,

water, sewer, trash pickup; groceries: ood; tuition: school) The ask

thetthikabutwhatatyicathsutiitybicststheadt

eter that aout. I the hae seeral utilit bills (e.g., a phoe bill, a

eletri bill, a water bill, et.), hae the use the eletri / atural gas

bill. Ask the to do the sae or hild are ad groeries.

5. Eaihwtaddewcateiesusithe+addbes,thehave

the propose a ew ategor ad eter the ew ategor plus its

othl ost.

6. At the ed o both the fxed ad ariable expeses, a olor-oded pie

graph is geerated showig where their oe is spet.

Askstudetswheetheajitytheieyes.

Askwhichthisaetessetiaadcabeeduced.

7. clik Sae / next to see the seod graph, whih opares ioe to

spedig. I soe ases, people sped ore tha the ake.

Ask studets:

Itheyaesavi.

Itheyaevesedi.

fsuestishwtsaveadhwtsedess.


6/14

Actvty 2 Trackng Expene

1. O the lass oputer sree, ope the page that has a pritable

weekl spedig trakig sheet (http://www.thebeehie.org/sites/

deaut/es/Tack_Yu_Eeses_by_Had.d ).givestudetstie

to reiew the 20 ategories o othl expeses i the heklist. Ask

the to roughl estiate how uh the thik the sped i a week ogasolie, oee, dier out ad goig to the oies. Eter soe o the

aouts suggested.

2. Itrodue the topi o reduig ariable expeses. Ask the lass whih

eesesaeeasietcut:etceesacksatsch?list

soe ariable expeses o the board (e.g., gas, textbooks, school

supplies, coee, lunch, cell phone plan, groceries, toiletries, household

cleaning products, cable television, clothes, urniture)adask:Hw

cayusedessthese?Whatcayuddieety?

3. or graar pratie with the Eglish odals can, could, might, should

admust, write saple setees usig these odals o the board

or oputer sree. Be sure at least oe o the setees otais aerror. (e.g., Carlos cans spend less on coee. Carlos will can spend

less on coee.) Ask studets to fd a errors.

Explai that these words are ot regular erbs, but odals. I odals,

third perso sigular does ot eed a fal s, ad uture tese is

ot ade b addig will to a, but rather it is ored with the

ostrutio will be able.

Rak the stregth o the odals i ters o soethig beig a

ssibiityadsethibeiabsuteyeuied.Dawahizta

lie with a arrow at eah ed to represet the otiuu ro thigs

that are possible to thigs that are required. Put little slashes i the

ieadeicitwhichwdseayuca,itsyuchiceadabe. Write those odals at the POSSIBILITy ed o the otiuu.

Ask whih words ea soethig is absolutel required, ou hae o

hoie. Write those words at the rEqUIrED ed o the otiuu.

POssiBiLiTY REQUiRED

mght

could

can

hould mut


7/14

Ask studets to write fe setees, eah oe with a dieret odal,

about how the ould redue their ariable expeses. model o the

board as below i eessar.

I ight ________________________

I ould ________________________

I a __________________________I should _______________________ (a good idea)

I ust ______________________ (reall iportat)

collet their writig ad read three or our setees aloud to the lass

without idetiig the authors. I there are a graar errors iolig

the odals, stop ad op that part o the board to see i the ath it

ad a orret it.

Homework

Explai to the lass that or hoework, oer the ext our weeks the will be

asked to reord their spedig. The ust sae all reeipts ad reord all

spedig.

Actvty 3 Cahng Paycheck

1. Diectstudetsthttp://www.thebeehie.org/oe.Havethecick

Uderstadig chek cashig, whih the will fd uder Sped It.

Ask:

Aetheeaycheckcashicetesiyueihbhd?

Whydeethee?

Dyukwhwuch(whatecetae)theicheckthecete

takeseachtietheycashacheck?

Iyucashyucheckatabakwheeyuhaveaaccut,what

ecetaedesthebaktake?

2. DistibuteitedciestheaticeUdestadiCheckCashiad Pada Loas. Allow studets fe iutes to read the artileask

the to uderlie uailiar oabular ad take otes i the argis

while the read.

3. Iitiate a group disussio o the ke issues i the artile.

Whatisamoney order?

Whydeeeteydes?

Hwuchdcheckcashiceteschaetissueaeyde?

Whatisapayday advance orpayday loan?

Isitaaydayadvaceadidea?

Whatae loan ees?

Whatdesiteatpay oaa?

Dsteewhetaaydayadvaceaytheiadvacethat

saeth?


8/14

4. Retur to the ai page o www.thebeehie.org/oe ad hae

studets lik Ope a Bak Aout, whih the will fd uder Saig

your moe.

Ask studets to raise their had i the hae a bak aout ad i it

ost the oe to ope it. The ask these geeral questios o the

lass: Whyishaviabakaccutsaethasetheacesyuiht

keeyuey?

Whyisitecveiet?

Whyisitcheae?

Whyisitdtcayesscashiyuwaet?

Revew

Ivitestudetstdiscusswhattheyhaveeaedthedaysactivities.

Havetheeecisesbeeuseu?Whatwitheytakeaway?

Day Three:Checkng Account and savng Account1. Warm-Up Eestudetsbackudkwedebyaski:

Whatisthedieecebetweeacheckiaccutadasavis

accut?

Whichedyueedtwiteaetcheck?

Cayuuseeitheetdesitacheck?

Whicheisdiyuwikeeyueytheeayyeas?

Why?

2. Readng and Vocabulary

Distibuteaitedcytheaticehttp://www.thebeehie.org/

oe/sae-it/ope-bak-aout/questios-ask-opeig-ew-bak-

aout so that the a uderlie oabular ad write otes i the

argis while the read. chek i the kow the eaig o these ke

words ad phrases beore the read:

accutthataysiteest

iteestate

iiubaace

buciacheck

isucietuds

bach

ATm

diectdesit

iebaki

a


9/14

3. Oral Reearch Project

Explai to studets that the will hae a week to prepare a short oral

etaeabakeatheihusejb.Theycaaskeithea

ail eber or a ried who has a aout there or the a go to

thebakadtaktseewhwksthee.oDayfive,theywi

report their fdigs ad oer their opiio about whether the would

wat to ope a aout at that bak ad wh or wh ot.

The studets a use the ollowig list o questios, ro

www.thebeehie.org, whe odutig their sures:

Dyueeecheckiaccuts?

Dyueeesavisaccutswithiteest?Whatisthe

iteestate?

Istheeaiiuautteacheckisavisaccut,

addIhavetkeeaiiuthybaaceithee?

Dyueeechecksadaykidtectibucia

check?Whatisyueebuciacheckhaviisuciet

uds?

Wheeaeyucated,addyuhavethebacheseaby?Whataeyuhus?

DesyubachseakauaesthethaEish?

WheeaeyucsestATms,adistheeaeetusethe?Isthee

aeetusetheATms?

Dyueadebitceditcadwithcheckiaccuts?Aethee

eeswiththsecads?

Dyueeediectdesit?

Dyueeeiebaki?

Dyuecaheas?

Day FOur: Actvty 1 Mortgage and Rent Calculator

1. Ask studets to isit http://www.thebeehie.org/housig ad below thephoto o a halk drawig o a house o the right side, lik the blue

Lear more lik uder the headig mortgage ad Ret calulator.

2. Iite the to eter a aout or a othl ioe, like $3,000, ad

wath as the reoeded axiu ret is alulated. It will ost

likel shok the studets. Ask i the wat to eter a dieret othl

ioe uber.

3. It is quite possible that ost o the lass is spedig ore tha 30

peret o their othl ioe o ret or a ortgage. Suggest the

lik the lik fd housig that ou a aord, whih the will fd o

thatsaeae,thetheAdabeHusiae,theyshudcick

the lik ioratio about publi housig.


10/14

0

4. AikttheU.S.DeatetHusiadUbaDeveet

website will oe up. O the let side i the red olu, ask studets to

cickHes,thereti.otheretiae,theyshudcickthe

red lik Searh or a apartet. A page titled Low-ret apartet

searh will appear, whih eables searhig b state ad it. The

searh oers iediate results that show subsidized apartets i the

area seleted, oplete with phoe ubers ad aes o the propertaagers.

5. Reiew with studets how uh o their othl ioe the thik the

should sped o housig.

Actvty 2 Home Loan and Monthly Mortgage

1. Retur to www.thebeehie.org/housig ad ask studets to look or

HwtBuyitheetcuadtcickWhat to Look Out For. I

the thik the are read to bu a hoe, poit out that the sae 30

peret rule applies to the aout o our othl ortgage expese.

2. Theeaedasadbadas.DiectstudetsttheaticeAoid Predator Ledig (http://www.thebeehie.org/housig/

how-bu/what-look-out/predator-ledig). This artile explais

how to distiguish betwee good ad bad loas. To esure studets

uderstad the oabular i the list below, disuss eah ter with the

lass.

Whatisapredator?(Ti:Usuayitisakidaia.)

Whatisalender?

Whatisaoreclosure?

Aetheeeeweecsueshaeithisyeathawee

haeiveyeasa?

Actvty 3 Role-Playng: spottng a Bad Loan Offer

1. Havestudetsbeakitusthee.Twstudetsshudeted

to be a ouple buig a house together. The third studet will preted

to be a predator leder oerig a bad loa. Ask the to prepare a oe-

iute skit that the will preset to the lass.

2. Assig two dieret dishoest triks ro the artile Aoid Predator

Ledig to eah group to ilude i their skit. (#1 and #3, #2 and #4,

#3 and #5, and so on)

3. model the kids o questios the should ask ad stateets the

should ake i this situatio. (For example, Why do I need to refnance

in two years? What does that mean? I need some time to think

about it.)

4. Ater eah skit, the audiee ust ideti whih triks the leder

was usig.


11/14

Actvty 4 Dfferent Type of Home Loan

Havethestudetsscatheadescitisathttp://www.thebeehie.org/

housig/how-bu/lear-about-tpes-loas, the ask the:

Whichaisthesaestkidast-tiebuye?

Whichkidsaetassae?Why?

Hwayyeasdesittaketishayibackahea?

Revew

Iite studets to disuss what the hae leared ro these exerises.


Day Five:Undertandng Credt CardActvty 1 Warm-Up

Beore the start to read about redit ards, ask the lass i the kow basi

ters ad uderstad the sste.

Whatisadebitcad?(ATM card)

Whatisaceditcad?

Whatisinterestthatyuay?DceditcadcaiesikeVisamasteCadakeeey

people who pa all theirbalance eah oth or people who pa ol a

itte?

Dtheceditcadcaiesakeeeyeewhay

tiewhayate?

Whatkidsticksdthecadcaiesayteteetea

ewceditcadaccutwiththe?

Actvty 2 Readng and Comprehenon

DistibuteciestheParadeaticeDtgetCbbeedbyCedit

cards! (http://www.parade.o/hot-topis/0808/dot-get-lobbered-b-

redit-ards). Ask studets to read the artile, the as a lass disuss the

eaig o the ollowig:

1. credit-ard opaies tr to lure the oug ad faiall ustable.

2. Duithestuate2008,eae,30%cedit-cad

ailigs were speifall targeted to ustoers who alread were

steeped i debt

3. copaies ote add ew ees ad poliies ater ustoers alread

hae siged up. The ior ardholders o these hages with

ipossible-to-uderstad oties i ti prit.

4. your ailbox is probabl flled with oers o allurig low-iterest redit

cads3%,2%,0%.Theseatesaeusuayjustce-s,adthey

ayjutashihas30%.

5. giabveyuceditiitaytiethebiesteatya,eaditatesetha30%ayea.

6. Dyuhaveaceditcad?Is,didaythesethisevehaet

yu?

miseadiitductyates

Iteestateaisedwithutwai

Duedatechaes

Etachaesadeaties


12/14

2

Actvty 3 Quz on Fnancal Term and Way to stay out of Debt

Distibuteciesthisuizadawstudets30iutestceteit.

The a reer to their otes but ot talk to eah other.

DIrECTIonS:CIrClETHECorrECTDEfInITIonofTHEWorD

InBolDprInT.

Part 1: Multple Choce Vocabulary Queton

1. Ioe

a. the oe ou sped eah oth

b. all the oe ou ear eah oth

. oe ou borrow ro a bak

2. A loa




3. Expesesa. the oe ou sped eah oth



4. Debt

a. oe a bak leds ou

b. a oe that owe to baks, redit ards or people

c.theeyyuakeyujbeachth

5. mortgage

a. the aout o oe ou owe a redit ard opa

b. the aout o extra oe ou owe the bak or a loa

. the oe ou borrowed ro a bak to bu a house

6. Iterest

a. the whole aout o oe that ou owe the redit ard opa

b. the extra oe that a redit ard opa harges beause the

let ou oe

. the iiu aout ou pa o our redit ard eah oth

7. Pealt

a. ore oe ou eed to pa beause ou were late

b. the balae that ou still eed to pa bak

. the iterest rate

8. To pa o

a. to pa ol the iiu eah oth

b. to fish paig all ou owe

. to pa late

9. To owe

a. to hae debt

b. to led

. to pa bak


13/14

10. To led

a. to borrow

b. to gie soeoe a loa

. to owe

11. Pa stubs

a. our expesesb. the reeipts ro our paheks

. the othl redit ard billig stateets

12. To approe a loa

a. whe a bak sas es to our appliatio or a loa

b. whe ou appl or a loa

. whe ou are late paig our ortgage

13.Heeuity

a. the alue o our hoe toda

b. the prie that ou paid or our house fe ears ago

. the ortgage

Part 2: short-Anwer Queton

Whatdceditcadcaiesdtakeeweewata

ceditcad?

Whatdceditcadcaiesdwheyuaeateayiabi?

Whichyueesesaevaiabeadwhichaeed?

Whataesesisthataybeataeaisadaeus

e?

Actvty 4 Oral Report on a Local Bank servce and Fee

Ask idiidual studets to share the results o their sure o a bak i their

area with the lass. Ask the to stad so that eeroe a hear the. The

should ed with their persoal opiio about whether the would ope a

aout there ad wh or wh ot.

Revew

Iite studets to disuss what the hae leared ro these atiities.


DEVElopEDBYCHRisTiNE sO,ESlInSTrUCTorATCHABoTCollEgE


14/14

send reult tom EIn H or n @K qED. or g

just tell us whih lesso/atiit ou used ad tall the total uber

o orret resposes pre ad post lessos/atiities.

Fnancal Lteracy Unt for Englh Language Learner

Lesso 1: The Eoo ad your mothl Budget

Pre- ad Post-Assesset Questioaire

DIrECTIonS: CIrClE THE CorrECT AnSWEr

1. Ioe




2. A loa




3. Expeses




4. Debt

a. oe a bak leds ou

b. a oe that ou owe to baks, redit ards or people

c.theeyyuakeyujbeachth

5. mortgage

a. the aout o oe ou owe a redit ard opa

b. the aout o extra oe ou owe the bak or a loa

. the oe ou borrowed ro a bak to bu a house

InAncIAL LITERAcy

Survey: KQeD old lo to fo o.

Documents

financial-literacy-unit