Financial Pitfalls Activities
ANALYZE: Change a Bad Financial Habit
In this activity, students will be able to:
- Examine a bad financial habit of theirs that they would like to change
- Understand the Habit Cycle as described by Charles Duhigg in his book, The Power of Habit
- Create and execute a plan to help them change their bad financial habit
- Reflect on how the Habit Cycle empowers them to change their habits
ANALYZE: The Influence of Advertisements
In this activity, students will be able to:
- Understand the various strategies advertisers use to influence consumers
- Analyze 6 different commercials and identify which strategies advertisers are using most effectively
CALCULATE: Play the Lottery or Save? (Sp)
In this activity, students will be able to:
- Use an online calculator to calculate the value an average Texan who normally plays the lottery would extract by investing the money in a retirement account instead.
- Available in English & Spanish
CALCULATE: The Cost of Rent-to-Own
In this activity, students will be able to:
- Use a credit card calculator and some data from Consumer Reports to compare the cost of “purchasing” a washer dryer from Rent-to-Own versus purchasing the same washer dryer on a credit card.
CARTOONS: Predatory Lending
In this activity, students will be able to:
- Examine a number of cartoons about predatory lending and choose one to analyze in more depth
- Explain the cartoon's key message about predatory lending and how it depicts that message
COMPARE: Types of Identity Theft (Sp)
- Explore the various types of identity theft and risk factors for each.
FINE PRINT: Auto Title Loan Agreement
With this Fine Print students will be able to:
- Read an auto title loan agreement by reviewing details such as interest rate and payment schedules
- Recognize how auto title loans can cause consumers to fall into deeper debt
FINE PRINT: Payday Loan Agreement
With this Fine Print students will be able to:
- Read a payday loan agreement by examining details including APRs and interest
- Recognize how payday loans can cause consumers to fall into deeper debt
INTERACTIVE: Have You Been Hacked?
In this activity, students will be able to:
- Complete a quiz to see how many times their personal information has been hacked
- Propose solutions to avoid these hacks
INTERACTIVE: Shady Sam
In this activity, students will be able to:
- Play the role of a loan shark
- Understand what tactics lenders use to maximize their profits
- Determine which loan terms increase profits for lenders
- Learn about different types of loans and fees lenders offer and charge
INTERACTIVE: Win the Powerball!
In this activity students will be able to:
- "Play" the Powerball using an online lottery simulation and explore the likelihood of winning the huge jackpot
- See how they fare standing up against the powerful positive imagery and allure of the Powerball advertisements
- Complete an optional math bonus section to dive a little deeper into the probability of any individual number being selected a winner
MOVE: Is This a Pitfall?
In this activity, students will be able to:
- Think critically about some common financial pitfalls and realize that individual values and circumstances have a great impact on the financial decisions people make.
- Get up and moving, out of their seats!
PROJECT: Create a Scam Guidebook
In this activity, students will be able to:
- Work in groups to create a Scam Guidebook
- Have a full Scam Guidebook that each student can reflect on once every group contributes
PROJECT: Create a PSA or Ad for Predatory Lending
In this activity, students will be able to:
- Work in groups to either
- Create a public service announcement teaching their audience to stay away from predatory lenders OR
- Create advertisements convincing their target audience to use their type of predatory lending product
PROJECT: Launch an ID Theft Awareness Campaign
In this activity, students will be able to:
- Launch a Public Awareness Campaign to help students at school learn about different types of ID theft and ways they can protect their information
- Work in groups to conduct research and create communication tools that they will use during the campaign
PROJECT: The Million Dollar Question: Is the Lottery Good or Bad?
In this activity, students will be able to:
- Engage in a debate on whether state-operated lotteries benefit or harm lottery winners and society as a whole
- Take a side, conduct research on arguments and counterarguments, and form a personal opinion after the debate
PROJECT: The Real Relationship Test: Reconcile Your Finances
In this activity, students will be able to:
- Take on the role of a character who is soon to be married
- Practice reconciling their finances with a partner on a variety of topics in their financial lifestyles, such as housing, debt, etc.
- Reflect on the importance of having a conversation about finances with a spouse or partner
PROJECT: Write a Children's Book on Bankruptcy
In this activity, students will be able to:
- Work in partners to write and create a Children’s Book about Bankruptcy
READ: Bankrupt at 23
In this activity, students will be able to:
- Read and respond to a blog post from a woman who had to file for bankruptcy at age 23 because of out-of-control credit card spending and debt.
READ: Personal Loans
In this activity, students will be able to:
- Use this reading guide to learn about all personal loans and strategies to use if a family member or friend asks for money.
RESEARCH: Bankruptcy Web Quest (Sp)
In this activity, students will be able to:
- Use the internet to research definitions for key bankruptcy terms.
- Define the vocabulary in their own words and provide examples.
- Available in English & Spanish
ROLEPLAY: Say NO to Loan Requests (Sp)
In this activity, students will be able to:
- Role-play declining to give personal loans to family and friends in a variety of real-world scenarios.
- Available in English & Spanish