Week Three

This Week

This week was a good one as we really delved into personal finance. Students learned how to balance their checkbooks, how to compute compound interest, and heard from a real-live insurance agent (Gabe Landes of State Farm of Beavercreek) on what types of insurance policies are available to them and how to make sure they are properly insured as car owners, homeowners, and renters. They also heard about life insurance and how it works. Finally, we learned about credit and how to use it responsibly so that they stay out of trouble and use debt responsibly when they do things like open credit card accounts or take out home or car loans.

We talked today about ways you can improve your credit score. If you or your student is interested in some additional reading, check out this Forbes article on the topic.

Students asked what a good credit score was in class. This graphic does a good job explaining it.

Next Week

Up next week we will continue learning about credit and may begin looking at how to invest our savings as we discuss stocks, bonds, and mutual funds, although this may wait depending on when the Ohio Stock Market Challenge takes place. This is a fun opportunity that we do each year where students can manage $100,000 (fake) dollars in a real portfolio, buying and selling real stocks, bonds, and mutual funds.

We will have a test either next week or the week after on personal finance depending on how quickly we move through the material. Tests are always announced and we always do a review beforehand.

Have a great long weekend!

~Mr. Grieve