Showing posts with label Banking. Show all posts
Showing posts with label Banking. Show all posts

Sunday, September 29, 2013

America's Credit History and a Credit Card Debt Story

Earlier this week I was having a conversation with a friend of mine when somehow our conversation turned to the topic of credit cards. She wondered when credit cards became so prevalent in the U.S. I knew that I had seen a video about the history of credit cards at one point. This morning I found it. Here's America's Credit History produced by CBS News.

Earlier this month I shared a couple of videos to educate students about credit card debt. Here is another one to share with high school and college students.

Applications for Education
America's Credit History could be a good resource to use as part of lesson on the U.S. economy.
The student's credit card debt story is a good cautionary tale for students. One of the first challenges that new college students encounter is the temptation to register for credit cards offered to students. Unfortunately, a lot of students don't understand just how quickly they can rack-up huge debts with these credit cards. Education can be the best prevention when it comes to debt.

Sunday, March 7, 2010

The Differences Between Banks and Credit Unions

In the civics course that I teach I try to work in lessons about consumer borrowing and consumer savings. One topic that always comes up in these lessons is the differences between banks and credit unions. Young Free Alberta has a series of three videos, done in the Common Craft style, explaining the differences between credit unions and banks. The videos are clearly designed to encourage students to join credit unions. Despite that bias the videos still do a good job of explaining the fundamental differences between banks and credit unions.

Part 1:

Part 2:

Part 3:

Here are some related items that may be of interest to you:
Kid's Economic Glossary
Saving Money in Plain English
The History of Credit Cards in the United States

Monday, March 2, 2009

Recession? What Recession?

Today's edition of CNN Student News features a good segment about Fargo, North Dakota. It seems that Fargo isn't feeling the effects of recession at all. This is due in large part to conservative lending and borrowing practices among the banks and consumers of North Dakota. The segment appears about half way through the video embedded below.

Applications for Education
The segment about North Dakota's bankers' conservative lending and borrowing practices provides a nice introduction to lesson about the importance of thoughtful money management.

A couple of other resources about banking that you may want to consider are Common Craft's videos about saving and borrowing money.

Tuesday, February 24, 2009

The Crisis of Credit Visualized

Developing an understanding of banking, particularly lending practices, can be difficult for many students. Fortunately, there are some great Internet resources to help students learn about banking including two videos that I recently learned about through TEA (The English Adventure).

The Crisis of Credit Visualized is a two part video series explaining how lending practices and mortgages in particular contributed to the cause of our current economic situation.

Part One

Part Two

Applications for Education
These videos are probably too advanced for use in elementary schools, but could certainly be used in middle school and high school classrooms as part of a unit on economics.

Here are three other video resources that you might also consider using as part of a lesson on economics.
Saving Money in Plain English
Understanding the Financial Crisis - Say It Visually
The History of Credit Cards in the United States

Thursday, January 22, 2009

Simple Lessons in Saving and Borrowing Money

Bank Jr. is an educational banking website designed for elementary school students. I discovered Bank Jr. through Donna Murray's excellent blog. Bank Jr. is an interactive website on which students can learn the in's and out's of banking. Bank Jr. has a glossary of terms, a help center, and savings wizards. Bank Jr. also provides students with a history of money and a look at how different countries use money. The teachers section of Bank Jr. provides an extensive glossary of terms and some lesson ideas. Bank Jr. does not provide full-length, detailed lesson plans, but it does provide PDF's of worksheets and handouts that teachers may find useful for teaching banking lessons.

Yesterday, Common Craft released a new video that explains borrowing money in plain English. As always, Common Craft does an excellent job of explaining what can be a complex topic in a very easy to understand form. The video is embedded below in Dot Sub form.

Applications for Education
Bank Jr. could be a good place for students to learn about saving money and commonly used banking terms. In the teacher section of Bank Jr. teachers can find PDF forms for teaching banking basics like keeping an accurate ledger.

The Common Craft video should be required viewing for high school and college students. Too many students get to college and get into debt in part because of ignorance about the pitfalls of borrowing more than you can afford to repay.

Here are a couple of other resources for teaching about banking and economics.
The History of Credit Cards in the United States
Saving Money in Plain English

Wednesday, January 7, 2009

Saving Money in Plain English and Other Economics Lessons

Economics can be a difficult subject for many students. Banking, in particular saving money, is always a topic that interests my high school students, yet some of them struggle to comprehend the whole picture. Fortunately, Common Craft has released a new video explaining banking in plain English. I have embedded the Dot-Sub subtitled video below. (If you're reading this in a RSS reader you may need to visit the blog directly to watch the video).

Applications for Education
This new video from Common Craft provides a great, short, introduction to personal finance and banking. A much longer video that you may also want to watch with your students is Money as Debt which provides a 45 minute animated history of banking. I've embedded that video below.

Here are some other economics lesson plans and resources that you may want to explore:
Biz Ed - Economics Lessons and Virtual Field Trips
FDR and the Banking System
Economics for Elementary School Through High School
The History of Credit Cards in the United States

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.