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4.1
4.1 Lesson Plan
DISCUSSION:
Discuss these questions with your classmates or with a partner.
Do you have a checking account? Why or why not?
What do you think are some of the advantages and disadvantages of having a checking account?
1 5 mins
In this activity, students will be able to:
Discuss the experiences we have checking accounts.
VIDEO:
Why Should We Use a Bank?
ARTICLE:
5 Reasons Why You Need a Checking Account
Watch this video and then read the article to discover why this lesson is called “The Essential Checking Account.” Then, answer the questions in the Google Form.
1. Explain why it’s so important to take advantage of the FDIC insurance offered by (almost all) banks.
2. One might argue that a checking account is essential because it enables you to manage the rest of your financial life. Give some
3. examples of how checking is useful in the realms of saving, budgeting, and/or other financial tasks.
2 15 mins
In this activity, students will be able to:
Explain the importance of the banking system.
VIDEO:
Unbanked & Spent: Looking for Change
You may be wondering, “What are some of the disadvantages if you do NOT have a checking account?” Watch this short segment (9:08-12:47) of a much longer documentary to learn what some of the challenges are. Then, answer the question in the Google form.
1. What are some of the disadvantages of being locked out of, or choosing not to belong to, the traditional banking system?
3 8 mins
In this activity, students will be able to:
Explain the importance of solvency regulation for financial institutions
REFERENCE:
Make Deposits and Withdrawals & How Does a Checking Account Work?
Review these two slides on how to deposit (put money into) and withdraw (take money out) with your checking account, and then watch the brief video to answer the questions.
1. What two methods of depositing and withdrawing money are most convenient for you? Why?
2. What is the main difference between a debit card and a credit card
4 15 mins
In this activity, students will be able to:
Understand the variety of ways they can deposit and withdraw funds from their checking account
VIDEO + ARTICLE:
Prepaid Cards & 9 Things You Need to Know About Prepaid Cards
First, watch the video. Then, skim the lengthy article to complete the chart and questions on the student activity packet. You may also want to think back to Justin’s experience in the earlier video, Spent, as you answer the questions in the Google form.
5 15 mins
In this activity, students will be able to:
Understand the variety of ways they can deposit and withdraw funds from their checking account
RESEARCH:
Person-to-Person Payments
According to NerdWallet, peer-to-peer payment systems — also known as P2P payments or money transfer apps — allow users to send one another money from their mobile devices through a linked bank account or card. They make splitting bills with friends and family painless. Complete this activity to learn more about P2P payments.
6 30 mins
In this activity, students will be able to:
Understand how person-to-person, payments and evaluate the six most popular
ARTICLES
Publisher: USA Today
Publisher: Nerdwallet
Publisher: Forbes
PODCAST
Publisher: NPR Fresh Air
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