More financial lessons for teens

Earlier this week, we posted some useful links about the cost and value of a college education. One of the links was from thirteen.org, a New York-based public media company with a great variety of resources available on its website. Today I'd like to share two of my other favorite lesson plans from the site, both lessons about finances and money aimed at grades 9-12.

Finance and Responsible Lending is a timely lesson after the housing market crash and the risky lending practices that led to it. The lesson includes a documentary on money in general, then zeroes in on the role of banks and how credit works - and why it's necessary to the economy.

Then, Filling Empty Pockets: Borrowing, Loans and Credit takes a look at the whole process from the other side - the side of the borrower. This lesson focuses mainly on credit cards, and generally discusses the costs of buying on credit. To do this lesson right, you should keep a few unsolicited credit card offers for the part of the lesson on comparing offers. It's great if you can get together offers for a combination of types of credit cards - cards associated with individual retailers, rewards cards, cards offered unsolicited through the mail or in magazines, credit card offers from the internet, and a card from your local bank or credit union, for members.

Having a good sense of how credit and debt work, and what's a good deal, is very important when navigating early adulthood, when income can be low or non-existent but there are still pressing needs, like tuition and regular life costs. Establishing good credit is important during this time, as is the need to avoid accumulating too much unsecured debt. But debt is generally a necessary part of paying for education - so it's best to understand what kinds of loans are a good choice to further one's education, and what kind of loans, like credit card debt, are more likely to go out of control quickly and cost more than they're worth.

These activities are a great combination of social science and math - both topics A Quantum Leap Tutoring is happy to tutor in for any age level, plus any other subject you or your child is struggling in, or just wants an extra boost in. We're all over the state of Florida, so please give us a call so we can put you in touch with your local coordinator to find the right tutor for you!