Personal finance lab lessons offer high school students financial knowledge and experience. The fields they cover are economics, business, personal finance, and investment. Students learn grade-level appropriate contents rich in content. Also, students use calculators and questions to reinforce the concepts mastered.
What Personal Finance Lab Lesson Cover?
In the first week, students learn a wide range of content to help them understand what a stock is. They learn what ETFs and mutual funds are. They will learn what ticker symbols are and the reasons why they should invest in stocks. Students learn how to choose stocks and how they can build a diversified portfolio. Students learn about Wall Street and the New York stock exchange. Students will also learn about the Dow Jones and what industrial averages are. Later they will learn stock quotes and how they can find the best stocks in any sector.
Students study a wide range of finance topics. They study financial records, reconciling accounts and wealth creation. They learn about banks, saving, loans and credit unions. They learn about tracking receipts, budgeting, and automatic payments. They learn about how to spend and save. Students learn about credit and debit cards and how they can use credit wisely. Lessons on debt management are also taught focusing on good and bad debts.
Most students look forward to becoming shrewd investors. They learn about the sources of short-term financing and credit reports. They will learn about taxation and delve into the detail of sales tax, tax filing, and 1040 EZ. They will learn tax audits, tax additions tax deductions, and when to hire a tax professional. Students will learn about how to protect their ventures against fraud. They learn how to make valid contracts, consumer rights, and responsibility. They learn how to plan for long-term purchases. Besides, they will learn about the types of insurance. These include life insurance, homeowners insurance, health insurance, renters insurance and car renting insurance.
Students learn how to manage, spend, and save based on a plan. They will discuss risks and possible rewards they can get if they start their own business. The focus is on how to plan their retirement and insurance options. These lessons will equip the students with relevant investment knowledge and skills. These lessons prepare students for National Standards for Personal Finance Education.
Later in the course, students will learn about debt negotiation and managing bills. They will learn how they can merge, negotiate debts and manage bills. Students will learn about income, compensation, bankruptcy, budgeting, and strategic spending. Students will also learn micro and macroeconomics. We have lessons about business management and marketing.
Starting a Business Venture
Students acquire knowledge and skills to understand the basics for running a business. They will learn about good spending and saving habits. This will help them envision how to create wealth.
Investing in Stocks
The stock market is one of the areas that has helped most people grow their wealth. Unfortunately, investing in stock is only pursued by a limited number of families. Most people do not understand how the market works. So, these lessons help students understand how the stock market works. They also learn how they can invest in shares and become successful businesspeople.
Job market skills
Personal finance lessons equip students with information needed to be a successful entrepreneurs. These lessons help them fit in today’s job market. Information on career centers will help students search for jobs. It will also open up ideas for a rewarding career.