This comprehensive financial literacy lesson "Middle School Ontario Financial Literacy | Credit Cards | PPT", covers various topics related to credit cards and loan sharks, such as the annual percentage rate, creditworthiness, debt and interest rates, principal and interest payments, credit limits, and hidden fees. The lesson provides opportunities for students to research, write, reflect, and express their opinions on these important financial matters.
 
Understanding Credit Cards: Pros and Cons
 
Overview of Credit Card Benefits and Drawbacks: Students will gain insight into credit card concepts such as the annual percentage rate (APR), creditworthiness, and credit limits.
 
Credit Card Research and Writing Activity
 
Investigating Further Pros and Cons: Students will research additional credit card advantages and disadvantages, followed by a paragraph writing assignment. A rubric is provided to assess their work.
 
Shady Sam Financial Literacy Game
 
Introduction to Shady Sam: Students learn about loan sharks and their tactics through this engaging game that covers interest rates, payment plans, and term lengths.
 
Loan Shark Practices: A Deeper Look
 
Financial Literacy Reading on Loan Sharks: Students will explore loan shark practices, including profiting from high-interest rates and hidden fees, and learn to perform related mathematical calculations.
 
Reflection on Shady Sam's Experience
 
"Lessons Learned" Worksheet: This activity allows students to reflect on their Shady Sam experience and apply their newfound knowledge to real-world financial situations.
 
Discussing the Ethics of Loan Sharks
 
Ethical Considerations Activity: Students will engage in a thought-provoking discussion about the ethics of loan sharks and their practices, with guidance from prompts or questions.
 
WHAT'S IN THIS FINANCIAL LITERACY RESOURCE?
 
A financial literacy reading on the pros and cons of credit cards
A research section on additional pros and cons, followed by a paragraph writing assignment 
A rubric for the paragraph writing assignment 
Introduction and walk-through of Shady Sam, the game. 
A financial literacy reading on loan sharks. More specifically, interest rates, payment plans, and term lengths. 
A worksheet on "things they've learned" playing the game
Another opinion-based activity on the ethics of loan sharks
EASEL format added 03/21/2023
PPT lesson added 03-23-2023
 
TOPICS COVERED IN THIS RESOURCE:
The annual percentage rate, or APR
Pros and cons of credit cards
Creditworthiness 
Debt and interest rates 
Principal and Interest payments 
Credit Limits 
Hidden Fees 
Loan shark tips and tricks for profiting 
Math calculations on the monthly percentage rate
 
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This resource follows Ontario's math curriculum.