Unit 2 Banking & Using Credit

Date Assigned: 3/29/2013
Date Due: 04/17/2013

Unit 2 Learning Objectives:

  • Students will be able to identify sources of credit and the advantages and disadvantages of using them and explain the significance of developing a positive credit rating and describe the advantages it can provide, the inherent cost of maintaining a credit card balance, and the risk of accumulating too much debt.
  • Students will be able to compare and contrast tools for payment (e.g. cash, check, debit card, phone, mobile) and explain the advantages and disadvantages of each.
  • Students will be able to explain advantages and disadvantages of on-line banking options.

 Banking Services & Checking Accounts:
DO:  Reading:  “Banks Conjure Up New Ways To Charge Fees”
Use:  SQP2RS form  SQP2RS form         Reading

DO:  Reading: “Employers Use Credit Histories in Determing Jobs”
Use: Compare and Contrast form   Comprehending Text form     Reading

PowerPoint:  Banking Services (take notes)
DO:  Use the websitehttp://www.practicalmoneyskills.com/personalfinance/savingspending/banking/

  1. Click on “Banking Tutor” on right hand site of the web page.
  2. Select Deposit Slip and view the tutorial by clicking the blue arrows.
  3. View and read the first 4 tutorials only:  Deposit Slip, Check, Register and Bank Statement.

DO:  Download the Practice Forms handouts and complete the signature card, deposit slip, check endorsements, and check:  banking forms

PowerPoint Notes:  Checking Accounts  (take notes)

DO:  Complete the Banking Services handouts and Checking Simulation complete each for your portfolio.

Handouts:  banking handouts
Checks:  blank checks
Check Register:  blank check register

  • Using the blank checks and check register, complete the Banking Services “Keeping a Running Balance” checking activity.  Use the bottom or reverse of the check register handout to write answers to questions 1 through 6.
  • Complete “Reading a Bank Statement” activity.  Print the handouts, or use a blank sheet of paper to write answers to questions 1 through 13.
  • Complete “Reconciling an Account” activity.  Use the bank reconciliation form provided to you. Print the handouts, or write answers to questions 1 through 5 on the bottom of the reconciliation form.

Checking Simulation:  Checking Simulation

Warm-up link: http://www.themint.org/teens/balance-your-checking-account.html

Credit and Credit Cards:

View the short video: (click the link below)

PowerPoint Notes: Credit Powerpoint

Building Credit:  5 Easy Steps


DO:  Credit handout  “Shopping for Credit” and “Credit Card Statement” handout
READ:  Should I be charging?

DO:  Credit Score FICO reading:   credit score reading  PDF
Credit Estimator  http://www.whatsmyscore.org/estimator/
DO:  Credit History and Career Future reading:   credit history affect on career reading

READ: Joseph Smith’s Credit Report
DO:  Examing a Credit Report  questions

DO:  Angela’s credit actions Angela’s credit score

DO: Review task #1  Parts of a Check
DO: Credit handout  Test Your Credit Knowledge

DO:  Watch video:  Secret History of the Credit Card
DO:  Video Handout video handout

DO:  Evaluating Credit (Lupita, Hai Ying, Henry & Carolyn)
Group Activity   Credit Profile Evaluations

PowerPoint Notes:  Credit Cards PowerPoint

DO: Review task #2  Emma, Byron, Maria, and Kevin case studies

Unit 2 Exam  study guide

Web Pages of the Week:
Smart Credit Tips:  http://www.smartcredittips.com/
Consumer Handbook Credit Protection Laws: http://www.federalreserve.gov/pubs/consumerhdbk/

ID Theft:  http://www.youtube.com/watch?v=TMHfXXdfjFs