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Assignment 6
Lesson 58
Lesson Plan by Dennis Tabbal
General Financial Literacy
Standard 3
Objective 1 and 2
GFL Standard 3 Objective 1
Explain the role of the Federal Reserve, the Federal Deposit Insurance
Corporation (FDIC) and the National Credit Union Association (NCUA).
Define the following:
See next slide for more information
VENN Diagram
For Profit
Certificate of
Deposits (1
Not for Profit
Credit Unions
Certificates of
Deposits (5
GFL Standard 3 Objective 1 Part 1
Compare the roles of financial institutions and their services, such as banks,
credit unions, investment or brokerage firms, insurance companies, and loan
Challenge students to figure out the Dow Jones (pdf) company by a simple
Assign reading partners
GFL Standard 3 Objective 1 Part 2
Demonstrate how to manage checking/debit and saving accounts, both
manually and/or electronically, including reconciliation.
View Damon Williams: 14 Year Old Investor on Track to Become
Millionaire! video (4:44) Ask students to share how they felt while watching
the video. Discuss whether it motivates them, gives them hope, makes them
jealous, etc. Have them silently identify aspects of their lives that could
develop into money making opportunities.
Use graphic organizers
GFL Standard 3 Objective 1 Part 3
Describe available consumer banking technologies.
View Investing Isn’t Just for Rich People video (5:56) Ask students to discuss why
they think most people think that investing is for rich people. Discuss the idea
that it isn’t how much you have, but what you do with what you have that matters
Use Think-Pair-Share
GFL Standard 3 Objective 2 Part 1
Explain how paying yourself first (PYF) early and often influences positive
progress toward long-term, financial goals.
View Saving Money in Plain English video (3:49) to learn how compound
interest works. A simple explanation of how money saved in a bank grows,
thanks to compound interest.
Read Alexander Who Used to be Rich Last Sunday to the class. Have students
complete the Alexander Worksheet (pdf) and discuss his ability to save his
Use Think-Pair-Share
GFL Standard 3 Objective 2 Part 2
Identify and understand basic saving options such as savings accounts and
Certificates of Deposit. Understand that savings are designed to preserve
View Time Value of Money video (3:17) After viewing, give students ten
minutes to free write about any thoughts, feelings, and experiences they
have pertaining to the clip. Ask if anyone would like to share what they
wrote, then discuss.
GFL Standard 3 Objective 2 Part 3
Identify and understand investment options, including retirement planning,
long- and short-term investments, and dividend re-investment plans.
Understand that investments put principal at risk.
Read the stock market section of the business page of a newspaper for three days.
Identify five terms or ideas you do not understand which seem important to
understanding how the stock market works. Share these unknowns with your
classmates and teachers so everyone can help one another understand key ideas
while learning about the stock market.
Use Think-Pair-Share
GFL Standard 3 Objective 2 Part 4
Identify types of long-term retirement investments, such as IRA, Roth IRA,
401(k), and 403(b), as well as reasons to invest.
Create an action plan for completing the steps you need to start building
wealth in the next one to three years and beyond. Create a visual timeline on
a calendar.
GFL Standard 3 Objective 2 Part 5
Demonstrate time value of money (TVM) principles by using the rule of 72 and
by manipulating the five variables used in basic TVM calculations.
Emphasize the importance of starting early in retirement planning by using
the Time Value of Money Excel spreadsheet (xls). Click on the narrative tab at
the bottom of the screen to understand how to demonstrate using the
GFL Standard 3 Objective 2 Part 6
Discuss the long-term investment potential associated with the stock market,
focusing on fundamentals such as diversification, risk/reward, and investor
Read Uncle Mort's Money, from the lesson Why Study the Stock Market(pdf).
See pages 7-8. Decide what you and your group think Jody should do with the
money. Discuss the potential costs and benefits of each alternative.
GFL Standard 3 Objective 2 Part 7
Identify and define the types of financial risks, including inflation, deflation,
and recession.
What are financial risks?
What are the effects for inflation, deflation and recession play on wealth
Extra Credit work
Write a one page paper on your thoughts regarding these two links:
What is your plan for retirement?
Write a four page paper regarding your proposed retirement plan.
This paper is to be double spaced.
May include the following:
Excel worksheets
PowerPoint slides
If there are any questions regarding this paper, please come and see me for
The End