Mike Sheffer Directr f Educatin FlPrf Teacher Guide Mdule 6 Sucker Punch Lessn: An extensive lk at credit cards Time: Three 45-60 minute class perids Tw parts: pre-teach & pst-teach Due t the cntent and length f Mdule 6, tw class perids will be needed fr the mdule and ne class perid fr the interactive in-schl hmewrk skills mdule, Mdule 7 Bxing Practice. Nte: This guide is, f curse, nly a suggestin. Feel free t mdify it as needed, and please feel free t share with us yur wn teaching ideas fr FlPrf! 2015 The FlPrf Fundatin 1
1. Lessn Descriptin Mdule 6 s cre message: Use credit cards very carefully, r yu will be hurt. We take a tugh lk at the wrld f credit cards and their ptential danger and value. The mdule and lessns teach yur students abut the hidden aspects f credit cards: The dangers f financing lng-term debt with credit cards. The imprtance f a credit card s fine print. The imprtance f timely payments. The danger f making minimum payments. 2. Objectives Knwledge Objectives Students will be better able t: 1. Understand hw credit cards (and ther similar lans) wrk. 2. Define terms such as credit, lan, annual percentage rate, interest and principal. 3. Cmpare varius credit ffers t understand the ramificatins f making purchases with credit. 4. Learn hw t be a respnsible credit cnsumer. 5. Cmpare and cntrast credit ffers. 6. Cmpare the real cst f purchasing n credit versus delaying a purchase until yu have saved enugh mney t pay cash. Skills Objectives Students will be better able t: 1. Cmprehend hw credit cards may be used wisely t build credit. 2. Analyze the grace perid. 3. Analyze fine print in credit card ads. 4. Calculate credit limit and minimum payment. 5. Analyze a credit card statement. 2015 The FlPrf Fundatin 2
Attitude Objectives 1. Students will feel they have a fundamental knwledge f credit cards. 2. Students will feel they have a thrugh understanding f the imprtance f a credit card s grace perid and a thrugh understanding f the imprtance f paying n time. 3. Students will feel they have the ability t make infrmed chices amng cmpanies wh ffer credit cards. 4. Students will feel they have the ability t make infrmed chices when it cmes t selecting the right credit card. 3. Classrm Methds Mdule 4 has been cmpleted. Yu have checked fr understanding using the FlPrf test, the hmewrk skills mdule 5, and yur wn evaluatins. Remember that students can g back and review any mdule at anytime. Mdule 6, Sucker Punch, is a cmprehensive curriculum n credit cards. The fllwing intrductry lessn can be used befre r after Mdule 6. Begin the class by asking: Hw d credit cards wrk? Cnduct a brief discussin with students t determine their level f knwledge regarding the mathematics f credit cards. Yur questins shuld highlight hw little mst students knw abut credit cards. Sme imprtant questins yu culd ask: What is an Annual Percentage Rate (APR), r interest rate? What is a Minimum mnthly payment? What happens when yu are late with credit card bills? Hw much shuld yu charge n yur credit card? Hw d yu chse a credit card? What are ver limit fees? 2015 The FlPrf Fundatin 3
Then have yur students begin the mdule. We think yu ll see that Sucker Punch really hlds their attentin. Enjy Sucker Punch! 4. Evaluatin Mdule 6 has a review and test fr evaluatin at the cnclusin. T further check fr understanding, take a few minutes and discuss the majr pints in Mdule 6. Mdule 6 has a cmprehensive hmewrk skills mdule that will require anther entire class perid. Evaluatin Idea: Once yur students have successfully cmpleted the Mdule 6 test and the additinal hmewrk skills mdule, have them d an article review frm Mdule 6. Mdule 6 has numerus articles n ur FlPrf credit unin website that yur students culd pint and click t. All f these articles are relevant t the tpics in Mdule 6 and are very imprtant t the entire learning prcess f this mdule. Suggested Student Article Review Requirements: Frmat: A ne r tw page, duble-spaced reprt in 12 pt. type with a ne-inch tp and bttm margin. Cntent: Intrductry paragraph stating the article s relevance t the tpic f study. Example: The imprtance f timely payments... Paragraph t review the article. Multiple paragraphs fr student s pinin and a shrt cnclusin. Divide the articles frm Mdule 6 amng yur class and have different members f the class present summaries f the articles as a cnclusin t Mdule 6. 2015 The FlPrf Fundatin 4
Evaluatin activity: Pre-lessn: prir t class, have yur students cllect credit card ads. Cllect as many as yu can yurself. Pst-lessn: Divide students int small grups f 3-4 and let them g thrugh the ads, lking fr terms and fr marketing techniques the students have learned in the mdule and hmewrk sessin. Students shuld als generate a list f new terms and marketing techniques they persnally discver in the ads. Have students discuss the terms and techniques. I have fund after cmpleting Mdules 1 thrugh 6 that the class can define mst terms. After 5-10 minutes bring the class tgether fr a discussin abut the imprtant parts f credit card ads. 2015 The FlPrf Fundatin 5