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Thursday, September 18, 2008

Understanding Banking and Credit

Larry Ferlazzo shared on his website a great game from the US Treasury about managing personal finances. The site is called the Bad Credit Hotel. I tried it out earlier today and found it to appropriate for middle school and high school students.

After trying out the Bad Credit Hotel I went looking for other games and lesson plans for teaching students about personal banking and credit management. Practical Money Skills has games for learning about personal finance management. Practical Money Skills is also a good place for teachers to find lesson plans appropriate for use at every grade level.

The Federal Reserve Bank of Philadelphia has a great list of lesson plans for use at every grade level. The lesson plans are very detailed and come with reproducible hand-outs and worksheets. The lesson plans from the Federal Reserve Bank of Philadelphia cover personal finance topics as well as broader economic concepts like scarcity and want.

Money Instructor offers lesson plans with reproducible hand-outs and worksheets covering a wide array of personal finance topics. The lesson plans on Money Instructor are probably best suited for use in middle school and high school.

Applications for Education
As banking and the stock market continue to make news headlines, students will be asking questions. These lessons and games listed above will help to provide students with a basic understanding of personal finance. The lessons students learn about personal finance can be a springboard to conversations about commercial and global financial news.