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Course for Basic Money Management

Financial Literacy I



Go over the concept of money, its different forms, and its role in daily life.

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Course Overview

  • tickUnderstand the importance of managing money by setting realistic financial goals and creating a budget to achieve them.
  • tick Learn to differentiate between needs and wants, and make informed spending decisions to avoid impulse purchases.
  • tick Develop strong saving habits by paying yourself first and utilizing savings accounts to plan for both short-term and long-term goals.
  • tick Explore how digital and physical money work, including how to use digital transactions safely and responsibly.
  • tick Recognize the impact of comparison shopping and smart spending to maximize financial resources while avoiding marketing traps.

Module Overview

Module

1

What IS Money and Why Should I Care?Audioicon

  • Understand the evolution of money—from barter systems to physical and digital currencies—and its crucial role in daily life.
  • Recognize how money fulfills basic needs and the difference between essential and discretionary spending.
  • Explore various forms of money, including coins, banknotes, and digital payments, and how they represent value in exchanges.
  • Comprehend the factors that give money its value, such as supply and demand and the impact of inflation.
  • Identify practical ways to earn money as a teen, linking hard work to financial rewards and personal goal-setting.

Module

2

Budgeting to Achieve Your DreamsAudioicon

  • Master the basics of budgeting to effectively track income and expenses, setting the foundation for financial success.
  • Differentiate between needs and wants to prioritize spending and control discretionary expenses.
  • Create a personalized financial plan that balances short-term desires with long-term goals, overcoming challenges in sticking to a budget.
  • Understand cash flow management by balancing money coming in and going out, including strategies to increase income and reduce expenses.
  • Embrace budgeting flexibility to adjust for unexpected changes, regularly reviewing and revising your financial plans.

Module

3

Pay yourself first - SAVE!Audioicon

  • Recognize the importance of saving money by paying yourself first, prioritizing savings to secure your financial future.
  • Set and prioritize short-term and long-term savings goals, understanding various motivations for saving—from emergencies to big purchases.
  • Harness the power of compound interest by starting to save early, learning how time and consistent habits grow your savings.
  • Understand different savings options and choose accounts that maximize interest earnings.
  • Control variable expenses and automate your savings to ensure discretionary spending doesn't derail your financial goals.

Module

4

Spend, Spend, Spend - but do it wisely!Audioicon

  • Differentiate between essential and discretionary spending to prioritize needs over wants and promote wise spending habits.
  • Develop mindful spending strategies by setting financial goals before shopping and avoiding impulse purchases.
  • Utilize comparison shopping to make informed purchasing decisions and save money by finding the best value.
  • Recognize and resist marketing tactics that influence spending, empowering you to make decisions based on needs rather than advertisements.
  • Regularly review and adjust personal spending habits to stay aligned with financial goals, ensuring that your spending supports your objectives.

Meet the Finance Course Creator,
Heather Gossler

A part-time teller job led to an MBA from DeSales University in the United States and a 27 year career in the finance and banking industry. I developed a youth banking program at my bank believing that it is never too young to learn to make good financial decisions. I took the program out into the surrounding communities’ schools to teach students basic finance. I then discovered that my true calling was education.

I left the executive offices of banking and began my teaching career, which I’ve been doing for 15 years. I went back to school and earned my M.Ed. in Educational Leadership from Cabrini College. I’ve taught  middle school students the subjects of U.S.History, English and Language Arts, Science, and Family and Consumer Science which included a unit on personal finance. My ultimate goal is to help students find their passion for learning what it takes to be the best person they can be.

Heather+Gossler