Alvarado Intermediate School 20152016 Teacher: Basye Grade: 6th Content Area: Honors
Week: 6 April 48, 2016 Unit 11 Personal Financial Literacy
Content TEKS Covered: CrossCurricular STAAR TEKS Supported: 6.1A Apply mathematics to problems arising in everyday life, society, and the (nontested content areas only) workplace. 6.1B Use a problemsolving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problemsolving process and the reasonableness of the solution. 6.1C Select tools, including real objects, manipulatives, paper and pencil, and technology as appropriate, and techniques, including mental math, estimation, and number sense as appropriate, to solve problems. 6.1D Communicate mathematical ideas, reasoning, and their implications using multiple representations, including symbols, diagrams, graphs, and language as appropriate. 6.1E Create and use representations to organize, record, and communicate mathematical ideas. 6.1F Analyze mathematical relationships to connect and communicate mathematical ideas. 6.1G Display, explain, and justify mathematical ideas and arguments using precise mathematical language in written or oral communication. 6.14A Compare the features and costs of a checking account and a debit card offered by different local financial institutions. 6.14B Distinguish between debit cards and credit cards. 6.14C Balance a check register that includes deposits, withdrawals, and transfers. 6.14D Explain why it is important to establish a positive credit history. 6.14E Describe the information in a credit report and how long it is retained. 6.14F Describe the value of credit reports to borrowers and to lenders. 6.14G Explain various methods to pay for college, including through savings, grants, scholarships, student loans, and workstudy.
6.14H Compare the annual salary of several occupations requiring various levels of postsecondary education or vocational training and calculate the effects of the different annual salaries on lifetime income.
Essential /Guiding Question(s):
Academic Vocabulary: ●
How are debit cards and credit cards similar? Different?
managed by the state, and is usually
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What information is useful in a balanced register?
taxdeferred
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What is the process to balance a check register?
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How can balancing a check register help people meet financial goals?
contributions may be made, taxes may be
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What happens when expenses exceeds the amount within the checking account?
waived if used for higher education
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Why is it important to establish a positive credit history?
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What attributes determine a positive credit history?
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What information is included in a credit report?
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What is a credit score?
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How long is information kept on a credit report?
an account for a person, business, or
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What is the value of a credit report for borrowers or lenders?
organization to spend
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What is a grant and how can it be used to pay for college?
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What is a scholarship and how can it be used to pay for college?
earned from a fouryear college or
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What are student loans and how can they be used to pay for college?
university by completing undergraduate
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What are the different types of student loans available?
coursework in a specific field of study
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What is workstudy and how can it be used to pay for college?
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What types of careers require postsecondary education or vocational training?
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Annuity – deductible and nondeductible
Associate’s degree – a degree usually earned at a community college that is for a specific occupation and can be used towards pursuing a bachelor’s degree
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Available balance – the amount available in
Bachelor’s degree – a degree usually
Balance – to reconcile your budget or account statement with your check register to make sure the records match and are
529 account – educational savings account
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accurate ●
Check register – a small table to keep track of deposits, withdrawals, transfers, and current available balance
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Deposit – money put into an account
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Direct subsidized federal student loan – a loan issued by the U.S. Government in an amount determined by the college available to undergraduate students who
demonstrate a financial need where the U.S. Government pays the interest on the loans while the student is enrolled at least halftime, up to six months after leaving school, or during a requested deferment period ●
Direct unsubsidized federal student loan – a loan issued by the U.S. Government in an amount determined by the college available to undergraduate or graduate students where the interest is paid by the borrower from the time the loan is initiated, even during requested deferment or forbearance periods
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Doctoral degree – the most advanced postgraduate degree that is obtained after receiving a bachelor’s and/or master’s degree and is extremely specialized in a specific field or occupation
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Grant – money that is awarded to students usually based on need with no obligation to repay this money
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Master’s degree – an advanced or postgraduate degree that is obtained after receiving a bachelor’s degree and is highly specialized in a specific field or occupation
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Postsecondary education – education that occurs beyond high school, usually at a college or university
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Private student loan – a loan issued by a lender other than the U.S. Government
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Salary – a fixed paycheck described as an annual sum that may or may not be dependent on the number of hours worked
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Savings account – a bank or credit union account in which the money deposited earns interest so there will be more money in the future than originally deposited
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Scholarship – money that is awarded to students based on educational achievement with no obligation to repay this money
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Student loan – borrowed money that must be paid back with interest
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Taxable investment account – many companies will create an investment portfolio with the specific purpose of saving and building a strong portfolio to be used to pay for college
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Traditional savings account – money put into a savings account much like paying a monthly expense such as a light bill or phone bill
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Transfer – money moved from one account to another account
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U.S. savings bond – money saved for a specific length of time and guaranteed by the federal government
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Vocational training – training that occurs beyond high school and specializes in a specific field of work (e.g., medical transcriber, mechanic, electrician, welder, etc.) may require state certification and/or a license
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Withdrawal – money taken out of an account
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Work study – programs that allow students to work in exchange for a portion of their tuition
WICOR Components (highlight): Writing Inquiry Collaboration Organization Reading Learning Engage Explore Explain Elaborate Evaluate Closing Objective(s): Task(s): Monday We will Textbook: p. 527 Textbook p. 528 Textbook Weekly c ompare the Reading Start Unpacking the p. 529531 Homework: features and Up Teks and Key Finish p. costs of a Vocabulary 529531 checking account and a debit card. We will distinguish between debit cards and credit cards. Tuesday We will compare Class Group Activity: I will explain my the features and Discussion: Which bank bank choice to costs of a What services should they my partner. checking are offered by choose? account and a banks? Students will be debit card. given scenarios of bank customers and asked to choose which bank would be the cheapest.
Wednesday We will distinguish between debit cards and credit cards.
Debit or Credit? Students will fill in a Venn diagram comparing debit and credit cards.
Thursday We will balance a check register that includes deposits, withdrawals, and transfers.
Class discussion: Checking account register Vocabulary
Balancing Act: Students must explain why they choose the 5 and why some were not chosen.
Friday We will balance a check register that includes deposits, withdrawals, and transfers.
Balancing Act: Students will be given checking account scenarios and are asked to choose 5 and balance the account.
Finish any of the previous days’ activities.
Individual Customized Learning Differentiated Academic Support:
Bilingual/ESL Language Support:
Behavioral Support:
I will choose between debit or credit cards and defend my choice in writing.
