Financial Literacy: Bank Statement and Credit Card Bill Practice Activity

Financial Literacy: Bank Statement and Credit Card Bill Practice Activity

A useful teaching resource, this activity is designed to arm students with necessary skills around reconciling bank accounts and managing monthly expenses. This hands-on lesson promotes the understanding of financial literacy through realistic practice with everyday financial documents - namely credit card bills and checking account statements.

Grades to Use With:

This lesson is suitable for students in grade 7 through grade 12, depending on your situation. It can be utilized in a variety of subjects such as Career and Personal Planning, Life Skills, Home Economics, and Math. The math skills required are adding and subtracting with money amounts up the the thousands of dollars.

How to Use:

1. Students are given a sample VISA bill with entries for one month's spending. They add up their total spending, reflect on if they should pay off the entire bill each month, add up their spending in specific categories (groceries, gas), and transfer their VISA spending to their checking account to pay off the bill.

2. Next, students are given a sample checking account for one month of spending. They must complete a math operation for each entry. Sometimes that involves adding a deposit to the balance, subtracting a withdrawal from the balance, or figuring out a transaction amount based on a given balance. You can do several entries together as a class, and then assign the rest for your students to complete.

3. Finally, students answer questions about the monthly spending as a whole, and they decide if this person has good financial health.

4. A complete answer key is included.

What's Included:

A total of 7 pages: Title Page, 3 page assignment, 3 page answer key

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