Using Financial Football - Module 3: Defensive Spending – Tackling Credit & Debit Cards
Learning Goals/Objectives:
Goals
• Develop the knowledge and skills to use debit and credit cards properly, and understand the financial responsibilities involved
Objectives
• Determine the difference between credit and debit cards
• Understand how to shop for a credit card
• Read and interpret a credit card statement
• Understand the long-term results of the misuse of credit
Overview:
Visa and the National Football League have teamed up to help teach financial concepts with Financial Football, a fast-paced, interactive game that engages students while teaching them money management skills. Teams compete by answering financial questions to earn yardage and score touchdowns.
Access the Financial Football Training Camp game online at: http://www.practicalmoneyskills.com/games/trainingcamp/ff/
The Financial Football Training Camp is a lesson plan that will help you teach important financial literacy skills to your students. The four modules, each designed to teach in a 45 minute class, cover skills and information that will be vital to students' futures.
Activities:
Module 3: Defensive Spending – Tackling Credit & Debit Cards
Debit cards can be a very safe and convenient way to make purchases, but since money spent on a debit card comes right out of a bank account, heads-up spending is essential.
Credit cards give you even more spending flexibility and convenience; however, since credit cards don’t come directly out of a bank account, you have to be careful you’re not spending more than you can pay back.
As you learned in the previous lesson, interest can be a powerful tool in saving money. But interest can work against you if you’re borrowing money on credit cards.
Defensive players always have to be alert; otherwise the offense can get away from them, and they’ll be in big trouble. You’ve got to stay alert when dealing with your finances, or your spending can get away from you, too. And you’ll be in even bigger trouble.
Assessment:
Financial Football is a game where students can compete and keep score. You could offer extra credit points to the winning teams. It is an activity that encourages learning.
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