What does it mean to be wealthy? Your learners will consider how carrying debt affects budgeting, and learn about the debt snowball strategy and how is it used in the concept of eliminating debt in order to build wealth.

Concepts

budgeting, financial literacy

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Additional Tags

student debt, financial literacy, budgeting, math

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Classroom Considerations

• Will require a bit of preparation/review time for instructor
• Heavy mathematical component to the lesson

Pros

• Detailed and well-designed reading material
• Includes and reviews formula for calculating minimum monthly payment necessary to eliminate debt at a particular rate and period of time

Cons

• None

Common Core

SL.11-12.1.a RH.11-12.2 RH.11-12.4