For Educators

OppU Educator's Guide

About

The OppU curriculum was developed in accordance with the national standards for financial literacy published by the Jump$tart Coalition for Personal Financial Literacy. Each lesson teaches concrete skills and aligns with Jump$tart's guidelines for comprehensive financial education.

Assistance and oversight were provided by Beth Tallman, MBA, and Anne Logue, MBA, CFA. Ms. Tallman taught "Personal Finance for Millennials" at Oberlin College. Ms. Logue teaches finance at the University of Illinois at Chicago.

Our educator's guide is available to download and print for use in the classroom.

Standards Summary

OppU LessonNational Standard
Lesson 1Spending and Saving. Standard 1: Develop a plan for spending and saving.
Lesson 2Spending and Saving. Standard 1: Develop a plan for spending and saving.
Lesson 3Spending and Saving. Standard 2: Develop a system for keeping and using financial records. 
Lesson 4Spending and Saving. Standard 1: Develop a plan for spending and saving.
Lesson 5Credit and Debt. Standard 1: Analyze the costs and benefits of various types of credit.
Lesson 6Credit and Debt. Standard 2: Summarize a borrower's rights and responsibilities related to credit reports.
Lesson 7Credit and Debt. Standard 2: Summarize a borrower's rights and responsibilities related to credit reports.
Lesson 8Credit and Debt. Standard 1: Analyze the costs and benefits of various types of credit.
Lesson 9Credit and Debt. Standard 1: Analyze the costs and benefits of various types of credit.
Credit and Debt. Standard 3: Apply strategies to avoid or correct debt management problems.
Lesson 10 Credit and Debt. Standard 3: Apply strategies to avoid or correct debt management problems.
Lesson 11 Credit and Debt. Standard 1: Analyze the costs and benefits of various types of credit.
 Credit and Debt. Standard 3: Apply strategies to avoid or correct debt management problems.

Jump$tart Coalition for Personal Financial Literacy. (2015). National standards in K-12 personal finance education (4th ed.). Washington, D.C.


Lesson 1: Money In, Money Out

Topics and Skills

·      Identifying sources of income.

·      Identifying expenses.

·      Tracking expenses.

·      Categorizing expenses.

·      Creating a system to manage income and expenses.


Standards Alignment

Spending and Saving. Standard 1: Develop a plan for spending and saving.

·      Create a way to keep track of money spent.

·      Categorize types of household expenses and sources of income.

·      Use a plan to manage spending and achieve financial goals.


Lesson Goals 

At the end of this lesson, students will know how to:

·      Identify and list sources of income.

·      Identify, list, and categorize expenses.

·      Create a system to manage income and expenses.


Lesson 2: Spend Less Than You Make 

Topics and Skills

·      Reducing expenses to ensure they don’t exceed income.

·      Differentiating between “want” expenses and “need” expenses.

·      Spending priorities reflect goals and values.

·      Spending habits affect personal satisfaction.


Standards Alignment

Spending and Saving. Knowledge Statements.

·      Many factors and experiences, such as role models and peer pressure, affect spending patterns.

·      Spending behaviors and habits affect personal satisfaction.

Spending and Saving. Standard 1: Develop a plan for spending and saving. 

·      Assess how spending priorities reflect goals and values.

·      Analyze how spending and saving behavior can affect overall well-being.


Lesson Goals

At the end of this lesson, students will know how to:

·      Ensure that expenses don’t exceed income.

·      Differentiate between wants and needs.

·      Identify negative spending patterns.

·      Improve negative spending patterns.


Sophomore Module: Budgeting and Saving

Lesson 3: How to Create a Budget

Topics and Skills

·      How to create a budget.

·      Budgets are a tool to improve spending patterns.

Standards Alignment 

Spending and Saving. Knowledge Statements.

·      Planning helps people make choices about how to use their money.

·      A spending plan (budget) is a guide to help people balance money coming in (income) and money going out (expenses).

·      A spending plan is a guide for deciding how to use income to meet current obligations and future goals.

Spending and Saving. Standard 2: Develop a system for keeping and using financial records.

·      Create a way to keep track of money saved for future spending.

Lesson Goals

At the end of this lesson, students will know how to:

·      Create a budget to meet current obligations and future goals.

·      Assign every dollar of income to particular expenses to balance a budget.

Lesson 4: How to Save

Topics and skills

·      How to find money to save.

·      How to allocate money to a savings fund.

·      How to set financial goals.

Standards Alignment

Spending and Saving. Knowledge Statements.

·      Saving means choosing not to spend money today in order to buy something in the future.

·      Saving means choosing to set aside money for emergencies and future needs and goals.

Spending and Saving. Standard 1: Develop a plan for spending and saving.

·      Describe ways that people can decrease expenses to save more of their incomes.

·      Compare saving strategies, including “Pay Yourself First” and comparison shopping.

·      Explain how saving money can improve financial well-being.

·      Demonstrate how to allocate weekly income for spending, saving, and sharing goals.

Lesson Goals

 At the end of this lesson, students will know how to:

·      Free up money for savings.

·      Allocate money to a savings fund by using the “Pay Yourself First” method.

·      Set financial goals.


Junior Module: Credit

Lesson 5: What is Credit?

Topics and Skills

·      Credit can be used as a financial tool.

·      Credit can be useful for big-ticket items.

·      Credit comes in many forms.

·      Effective interest rate allows consumers to compare different kinds of credit.

Standards Alignment

Credit and Debt. Knowledge Statements.

·      Credit is a basic financial tool.

·      Credit allows borrowers to use big-ticket items while paying for them.

·      Consumers can choose to borrow from a variety of credit sources.

·      Borrowing money to buy something usually costs more than paying cash because there is a price (interest and fees) for buying on credit.

·      Comparing the costs and benefits of buying on credit is key to making a good borrowing decision.

·      Credit cost disclosure information is useful in managing borrowing expense.


Credit and Debt
. Standard 1: Analyze the costs and benefits of various types of credit.

·      Summarize the advantages and disadvantages of using credit.

Lesson Goals

At the end of this lesson, students will know: 

·      What credit is and how it can be used.

·      How to compare loans and different kinds of credit.

Lesson 6: Credit Reports & Credit Scores

Topics and Skills

·      What information credit reports contain.

·      How credit reports and credit scores are used to determine creditworthiness.

·      How negative information in a credit report can affect financial options.

·      How to request a free credit report.

Standards Alignment

Credit and Debt. Knowledge Statements.

·      Borrowers who repay as promised show that they are worthy of using credit in the future.

·      Credit bureaus maintain credit reports, which record borrowers’ histories of repaying loans.

·      Negative information in credit reports can affect a person’s credit score and financial options.

Credit and Debt. Standard 2: Summarize a borrower’s rights and responsibilities related to credit reports.

·      Summarize factors that affect a particular credit scoring system.

·      Analyze how a credit score affects creditworthiness and the cost of credit.

·      Explain the value of credit reports to borrowers and to lenders.

·      Give examples of permissible uses of a credit report other than granting credit.

·      Identify the primary organizations that maintain and provide consumer credit records.

·      Categorize the information in a credit report and how long it is retained.

·      Explain the rights that people have to examine their credit reports.

·      Investigate ways that a negative credit report can affect a consumer’s financial options.

·      Outline the process of disputing inaccurate credit report data.

Lesson Goals

At the end of this lesson, students will know: 

·      Who produces credit reports.

·      What information is contained in a credit report.

·      Who can request credit reports.

·      How a credit score is determined.

·      How credit reports and scores are used to determine creditworthiness.

Lesson 7: How to Improve Your Credit

Topics and Skills

·      Tips and strategies for improving credit.

Standards Alignment

Credit and Debt. Standard 2: Summarize a borrower’s rights and responsibilities related to credit reports.

·      Recommend ways that a person can regain a lender’s trust after losing or damaging borrowed personal property.

·      Weigh the potential payoffs of a positive borrowing reputation versus the potential consequences of a poor borrowing reputation.

Lesson Goals

At the end of this lesson, students will know how to improve credit using four strategies: 

1.     Making payments on time by planning in advance.

2.     Paying off outstanding balances by reducing expenses.

3.     Requesting a free credit report and identifying errors and outstanding balances.

4.     Stopping credit applications until they have improved their credit score.

Lesson 8: Credit Cards & Debit Cards

Topics and Skills

·      How credit cards work.

·      How debit cards work.

·      The difference between credit and debit cards.

·      The advantages and disadvantages that credit and debit cards offer.

Standards Alignment

Credit and Debt. Standard 1: Analyze the costs and benefits of various types of credit.

·      Explain how debit cards differ from credit cards.

Lesson Goals

At the end of this lesson, students will know:

·      How credit and debit cards work.

·      When to use a credit card and when to use a debit card.

·      How to make payments on time.

·      How to avoid fees and interest charges.


Senior Module: Debt & Loans

Lesson 9: What is Debt?

Topics and Skills

·      What is debt?

·      The risks of debt.

·      When is debt good and when is it bad?

Standards Alignment

Credit and Debt: Knowledge Statements.

·      Bankruptcy provides debt relief, but has serious negative consequences.

·      Sometimes changing circumstances affect people’s ability to repay what they have borrowed, which can have consequences such as repossession, garnishment, tarnished borrowing reputation, and increased credit costs.

·      Debt reduces net worth.

Credit and Debt: Standard 1: Analyze the costs and benefits of various types of credit.

·      Assess whether a specific purchase justifies the use of credit.

·      Explain the effect of debt on a person’s net worth.

Credit and Debt: Standard 3: Apply strategies to avoid or correct debt management problems.

·      Develop a personal financial plan to manage debt, including working directly with lenders.

·      Identify indicators of excessive debt.

·      Predict possible consequences of excessive debt.

·      Relate overspending to potential borrowing problems.

Lesson Goals

At the end of this lesson students will know:

·      When debt is good.

·      When debt is bad.

Lesson 10: How to Reduce Debt

Topics and Skills

·      Tips and strategies to reduce debt.

Standards Alignment

Credit and Debt. Knowledge Statements.

·      Consumers with excessive debt can work directly with lenders to regain control, with options that include loan consolidation and renegotiation of repayment schedules, rather than by paying a third-party “credit repair” company.
 

Credit and Debt. Standard 3. Apply strategies to avoid or correct debt management problems.

·      Examine the types of services that consumer credit counseling agencies offer.

·      Investigate the purpose of bankruptcy and its possible negative effects on assets, employability, and credit cost and availability.

·      Recommend actions that a borrower could take to reduce or better manage excessive debt.

·      Develop a personal financial plan to manage debt, including working directly with lenders.

Lesson Goals

At the end of this lesson students will know three steps to take to reduce debt:

1.     Reduce expenses to free up income.

2.     Use extra income to pay off debt.

3.     Contact lenders and debt counselors for assistance.

Lesson 11: Consequences of Missing Payments

Topics and Skills

·      What are the consequences of missing payments?

·      What delinquency means.

·      What default means.

·      How to prevent serious harm if a borrower misses payments.

Standards Alignment

Credit and Debt: Standard 1: Analyze the costs and benefits of various types of credit.

·      Differentiate among various types of student loans and alternatives as a means of paying for post-secondary education.

·      Predict the potential consequences of deferred payment of student loans.

Credit and Debt. Standard 3. Apply strategies to avoid or correct debt management problems.

·      Investigate how student loan obligations differ from other kinds of debt.

Lesson Goals

At the end of this lesson students will know:

·      The consequences of missing loan or credit card payments.

·      What delinquency means.

·      What default means.

·      When missed payments cause a borrower to enter delinquency and default.

·      How to prevent serious harm in the event of missed payments.



Last modified: Friday, May 12, 2017, 3:32 PM