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Consumer.gov: Managing Your Money

Example Web Site and/or Technical Equipment Required

Website: http://www.consumer.gov/section/managing-your-money

Website Example: http://www.consumer.gov/section/managing-your-money

More Ways

Computer(s), Internet access, projector (for class presentation)

Activity Description

This activity will help your students learn to open a bank account and manage their money by helping with budgeting, but the materials at this site also address the following topics:

  • Using Debit Cards
  • Prepaid Cards
  • Saving Money When You Shop
  • Buying and Using Phone Cards
  • Sending Money Overseas
  • Credit History
  • Using Credit
  • Payday Loans and Cash Advances
  • Car Title Loans
  • Managing Debt
  • Scams and Identity Theft

Preparation

  • Visit the Example Web site and go to the Help for You section then select Resources for Managing Your Money.
  • Download the PowerPoint presentation for Opening a Bank Account.
  • Review the material looking for vocabulary that may be new and pre-teach any new terms.
  • Download and print (or distribute electronically) the Make a Budget Worksheet .
  • Create a cloze exercise for the listening activity if your students need practice with listening.

How-To

  1. Cover the various aspects of banking: what are banks and credit unions?; How do they differ?; What are checking and savings accounts and how do they differ?; Why they would want either and how to choose the best one for their needs.
  2. For a listening exercise, use the Web site under "Managing Your Money." Have students go through the section on "Opening a Bank Account" and have them complete a cloze exercise while listening.

More Ways

There are many other topics here to extend learning about consumer economics and becoming financially literate.

Levels

  • Intermediate Low
  • Intermediate High
  • Advanced

Standards

Basic Communication

  • (1.6) Understand consumer protection measures
  • (1.5) Understand how to manage household finances
  • (1.1) Use measurement and money
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OTAN activities are funded by contract CN200091-A2 from the Adult Education Office, in the Career & College Transition Division, California Department of Education, with funds provided through Federal P.L., 105-220, Section 223. However, OTAN content does not necessarily reflect the position of that department or the U.S. Department of Education.