Money Basics for students
A starter course for high-school students and anyone new to managing money: paychecks, budgeting, simple and compound interest, loans and credit cards, every tax in a year, insurance and health costs, and saving for a car or a home. Includes spreadsheet templates and a printable guide.
Money Basics: A Starter Course for Students
- Why money basics matter (15 min)
What the course covers, and setting a first money goal. - Your paycheck (30 min)
Gross pay versus net pay, every line on a pay stub, and how pre-tax deductions work. - Budgeting (30 min)
Pay yourself first, the 50/30/20 starting point, needs versus wants, and tracking where money goes. - Interest, saving and investing (35 min)
Simple versus compound interest, the rule of 72, and why starting early matters so much in the stock market. - Borrowing and credit (30 min)
How loans and credit cards charge interest, why longer loans cost more, and the trap of minimum payments. - Taxes and the cost of living (35 min)
Every tax you'll pay in a year (income, payroll, sales, property, car registration, gas) and how each one fits in a budget. - Insurance and health costs (30 min)
What insurance is for, and the whole cost of health insurance: premium, deductible, copays, coinsurance and the out-of-pocket maximum. - Goals: a car, a home, and what's next (30 min)
The full monthly cost of a car and a home, saving for a down payment, and your next steps.