The is the year of Rich Dad, Poor Dad by Robert Kiyosaki. This year we get to dive deeper into the concepts discovered in the previous year. This includes concepts on how to measure true wealth, the difference between and assets and liabilities and the differences between a job and a business.
This is also the first year the students participate in the Chicago-land Money Smart Kid Essay Contest, hosted by the Federal Reserve of Chicago.
Below are other major concepts we study at the 7th grade level.
- Assets v. Liabilities
- Banking terms
- Cash flow patters
- Credit and Loans (home, auto, student)
- Credit Reports
- Credit Union v. Banks
- Debit & Credit Cards (advantages & disadvantages)
- Fico Score
- Goal setting II
- How to Measure true wealth
- Inflation & Deflation
- Interest rates & Finance charges
- Overdraft protection
- Read & understand a utility bill
- Secured v. Unsecured
- Sub-prime lending (pay day loans, pawn shops, refi’s)
- Taxation and it’s essential function II
- Variable interest v. Fixed interest