Norway High School Personal Finance Class

Students recently completed their 3rd Quarter Projects which focused on Rational Choice. Students decided what to look for, how to gather information, conduct comparison shopping, and then made the purchase.

Today we focused on Auto Liability Coverage as students worked their way through a scenario involving an accident and the impact of that accident in relation to their coverage.

As we begin our topic on the Role of Insurance, students brainstormed possible disasters, identified potential consequences, and matched insurance types with these disasters.

As we closed out our Financial Services topic, students reconciled their banking account by using their registers and bank statements.

As part of our Financial Services topic, students learned how to manage a checking account including all of the different information on a check and reconciling their checking account register.

Students recently debated popular reasons for why some Americans are “unbanked” or “underbanked” as part of our Financial Institutions chapter.

Students recently completed the Credit and Debt topic in the Ramsey Solutions Foundations in Personal Finance curriculum. Concepts included the dangers of credit, sources and types of credit, credit reports, myths regarding credit scores, credit cards and car loans, and strategies for getting out of debt including the debt snowball. Norway-Vulcan Area Schools

Students recently completed our College Planning segment in Ramsey Solutions Foundations in Personal Finance. We researched dream careers and how to enter into that field. We learned about the current crisis in student loans and alternative ways to pay for college without student loans. Students researched two colleges with their chosen career path to determine Return On Investment. Special thank you to Mrs. Berndt for talking to our class about FAFSA and scholarship opportunities. Students also learned how to prepare a scholarship essay. Norway-Vulcan Area Schools

As we continue our progress in the Foundations in Personal Finance program by Ramsey Solutions, students focused on Saving Money over the last few weeks. We concentrated on the 3 reasons to save, how to save for large purchases, and introduced building wealth. We even met two new friends: compound interest and compound growth. Norway-Vulcan Area Schools

Our students have been busy learning the basics and importance of budgets. Whether it be the 7 Baby Steps and / or The Five Foundations, we have introduced a plan for establishing goals by understanding and identifying expenses, prioritizing the Four Walls, giving and saving, and applying the process needed to create a Zero-Based Budget. Norway-Vulcan Area Schools

Students recently completed our Introduction to Personal Finance chapter. We finished with presentations providing an overview of the The Five Foundations per Ramsey Personal Finance. Foundations include saving for an emergency fund ($500 in HS), getting out of and staying out of debt, paying cash for your car, paying cash for college, and building wealth and giving. These concepts will be at the core of our class this year. Next up: Budgeting Basics. Norway-Vulcan Area Schools

Students have begun their journey learning the Ramsey Foundations of Personal Finance. Today, students did an activity on how to calculate net worth and how debt can erode a person’s net worth. Norway-Vulcan Area Schools