Financial Pitfall Lessons

/Financial Pitfall Lessons
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Financial Pitfall Lessons

**Want only activities on financial pitfalls? View them here.

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In this lesson, students will be able to:

  • Identify common financial pitfalls that people fall into and strategies to prevent them from occurring or to rebound once problems occur
  • Understand the role a financial adviser can play in helping people fix their finances
  • Use appropriate vocabulary to describe personal finance management and pitfalls
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In this lesson, students will be able to:

  • Describe how payday loans, auto title loans, pawnshops, and rent-to-own centers operate and generate revenue
  • Explain how borrowers get trapped in an inescapable cycle of owing money
  • Recognize why predatory lenders are so attractive to potential borrowers and what benefits they offer over traditional lending institutions
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In this lesson, students will be able to:

  • Identify and prevent financial pitfalls that couples commonly experience
  • Describe the financial and emotional implications of a personal loan and develop strategies for saying no and alternative ways to help
  • Explain the responsibilities that come with cosigning for credit
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In this lesson, students will be able to:

  • Understand the slim odds of winning the lottery and common reasons that people play the lottery anyway
  • Explain the financial pitfalls that accompany playing the lottery and suggest responsible alternatives to participating
  • Describe the state budget implications of the lottery and how they impact families
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In this lesson, students will be able to:

  • Explain the consequences of falling behind on bill payments and possible solutions for overcoming debt
  • Understand the basics of Chapter 7 and Chapter 13 bankruptcy and how they are similar and different
  • Identify risky financial decisions that could lead to bankruptcy and offer suggestions for avoiding them
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In this lesson, students will be able to:

  • Identify both broad categories and specific types of financial scams and methods for preventing them
  • Understand identity theft and what to do if they ever fall victim
  • Takes steps to identify and prevent online and mobile fraud
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Students will be able to:

  • Explain what identity theft is
  • Understand different types of identity theft and how they might occur
  • Take steps to identify and prevent personal identity theft
  • Explain actions to take if they become a victim of identity theft
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