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Become a Money Master: Personal Finance Camp for Teens
Mrs. Kim
Average rating:
5.0
Number of reviews:(2)
New on Outschool
In this dynamic, five-day class, students will gain essential skills to manage their finances effectively now and in the future. Topics covered include understanding bank accounts and credit cards, deciphering paycheck details, and more!
Class Experience
US Grade 8 - 11
Beginner - Advanced Level
This course is designed to empower teens with essential financial skills to navigate their financial futures confidently. Students will learn practical strategies for budgeting, managing income and expenses, banking essentials, responsible credit card use, understanding credit scores, and introduction to investing—all crucial aspects of personal finance crucial for their future success. The topics covered include: *Budgeting fundamentals: Creating and managing a personal budget. *...
5 lessons//1 Week
Week 1Lesson 1Introduction to Personal FinanceIn this foundational lesson, students will be introduced to the essential concepts of personal finance and budgeting. Through interactive discussions and activities, they will explore their own financial goals and challenges. The lesson will cover the basics of budgeting, including understanding income sources, differentiating between expenses, and the importance of saving. Students will actively participate in creating a sample budget for a given scenario.Lesson 2Understanding Income, Taxes, and PaychecksThis lesson focuses on equipping students with the necessary skills to read and manage their paychecks effectively. They will learn about the components of a paycheck, including and deductions such as taxes and benefits. Students will calculate their take-home pay after deductions, gaining practical insights into budgeting with real-world financial constraints. Discussions will emphasize strategies for maximizing income through education and for students to make informed financial decisions.Lesson 3Banking Essentials: Savings and Checking AccountsIn this session, students will delve into the fundamentals of banking, like savings and checking accounts. They will learn the differences between these accounts, including features such as interest rates and transaction capabilities. Students will simulate opening mock savings or checking accounts online, gaining practical experience in managing basic banking operations. Discussions will highlight the importance of saving for both short-term and long-term financial goals.Lesson 4Using Credit Wisely: Credit Cards and Credit ScoresThis lesson educates students on the responsible use of credit cards and introduces them to the basics of credit scores. They will learn about the benefits and risks associated with credit cards, including interest rates and fees. Students will analyze scenarios to differentiate between responsible and irresponsible credit card use. The session will also cover factors that influence credit scores. By understanding these concepts, students will be equipped to make informed decisions.Lesson 5Introduction to Investing and Interest RatesIn the final lesson, students will be introduced to the fundamentals of investing and understanding interest rates. Students will explore investment calculators to comprehend the concept of compound interest and its impact on savings and investments over time. Discussions will focus on strategies for researching and selecting investments based on risk tolerance and financial goals. Students will have a foundational understanding of investing and be able to make informed investment decisions.
This class is taught in English.
- Students will learn to create and manage a personal budget effectively.
- Students will understand how to read and manage their paychecks, including deductions.
- Students will gain knowledge of banking essentials such as savings and checking accounts.
- Students will comprehend the basics of credit scores and strategies for building good credit.
- Students will be introduced to the fundamentals of investing, including types of investments and compound interest.
I bring over a decade of hands-on experience in the personal finance sector, where I've worked closely with entrepreneurs and small businesses dedicated to helping consumers achieve financial stability by paying off debt and building savings. My insights have been shared through reputable publications such as Chime, Credit Sesame, and Due.com, where I've contributed articles aimed at empowering individuals with practical financial advice. In my personal journey, I've successfully managed to pay off significant debts, including credit cards and student loans, and achieved financial milestones such as purchasing cars outright—all while supporting my family on a single income. These experiences have not only honed my expertise in budgeting, saving, and investing but have also deepened my understanding of the challenges individuals face in managing their finances effectively. My main goal is to teach students how to avoid the mistakes I, and many others my age, have made over the years with our finances. I am passionate about sharing this knowledge to empower teens with essential financial literacy skills. Through interactive and practical lessons, I aim to equip students with the tools and insights they need to navigate their financial futures confidently, from budgeting basics to understanding credit and starting their investment journey.
2 - 4 hours per week outside of class
Assignments
Frequency: 3-6 throughout the classFeedback: Available upon requestDetails:Projects
Frequency: 1-2 throughout the classFeedback: Available upon requestDetails:Certificate of Completion
Frequency: Available upon requestDetails:
Yes, this class can support unique learning needs! I incorporate multi-sensory learning techniques, such as visual aids, interactive activities, and hands-on practice, as well as flexible pacing, clear and concise instructions, and breaks.
This class does not require any prerequisites.
For this budgeting camp, learners will not need any specific supplies beyond a notebook or paper and a pen or pencil to take notes and participate in activities. All curriculum materials and resources will be provided by the instructor.
In addition to the Outschool classroom, this class uses:
No parental guidance is needed during the class, but parents are encouraged to work with their students afterward to ensure they utilize the class time effectively and apply what they've learned.
For this course, the curriculum draws upon a variety of reputable sources such as educational websites (e.g., Investopedia, Consumer Financial Protection Bureau), practical guides on personal finance (e.g., "Personal Finance for Dummies" by Eric Tyson), and articles from financial institutions (e.g., Wells Fargo, Bank of America) that provide accurate and accessible information relevant to the topics covered.
Hello! I'm Mrs. Kim or just Teacher Kim and I am so excited to be a part of the Outschool community. I'm passionate about guiding and supporting children, adolescents, and teenagers with diverse abilities on their journey to adulthood. As a...
Group Class
$60
for 5 classes5x per week, 1 week
55 min
Live video meetings
Ages: 13-17
2-8 learners per class
