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So, You Want to Buy a Car? A Financial Literacy Class

In this one-time class, students will have the opportunity to understand the financial aspects of owning a car, including calculating the cost of a car with a simple interest loan, car insurance, and cost of gas.
Megan Baird
Average rating:
4.9
Number of reviews:
(25)
Class

What's included

1 live meeting
55 mins in-class hours

Class Experience

In this financial literacy class, students will start the class by choosing a fictitious job and a car they would like to purchase.  Once they determine their monthly income and the price of their car, students will look over different simple interest loan options and choose one. Students will then calculate the interest of their car as well as the monthly payment. Because the monthly car payment is not the only expense associated with owning a car, students will also be asked to research what the monthly insurance payments will be as well as calculate the monthly costs for gas. This activity will show students how the cost of owning a car compares to their monthly income (and whether they need to search for a cheaper car to fit their budget). At the end of the class students will also write up a short persuasive argument to convince their parent/guardian why they should be able to purchase the car.

Students will record their calculations and persuasive argument in a Google Slides presentation that I will share with them at the beginning of class. I have designed this activity so that I can successfully guide students through the financial aspects of owning a car while still allowing them to personalize the assignment for their car needs.

Learning Goals

Students will build their financial literacy by calculating the costs associated with buying their first car.
learning goal

Other Details

External Resources
Learners will not need to use any apps or websites beyond the standard Outschool tools.
Joined June, 2021
4.9
25reviews
Profile
Teacher expertise and credentials
I am a 7th and 8th grade math and science teacher, and I find that teaching financial literacy is important and engaging for students. This course requires students to think about and apply formulas and rates in meaningful way. 

Reviews

Live One-Time Class
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$15

per class

Meets once
55 min
Completed by 4 learners
Live video meetings
Ages: 13-18
1-6 learners per class

This class is no longer offered
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