Page 6 - Real Life Annual Report 2021

Financial Literacy

This year, Real Life continued to utilize the financial
literacy curriculum written and administered by
employees at Merrick Bank. However, because of the
regulations and restrictions surrounding the pandemic,
the unit looked a little different than it has in the past.
Merrick volunteers were unable to attend and teach
in-person. Instead, Merrick Bank opted to have their
volunteers join the classroom virtually.

We are grateful for this partnership and appreciate all
the time and resources Merrick Bank supplied to create
this visual and interactive curriculum, which included
the following lessons:

1. CURRENCY: COINS, BILLS AND CHECKS

2. CURRENCY: CREDIT CARDS, DEBIT

3. CARDS & PREPAID CARDS
BUDGETING BASICS
4. BUDGETING AND FINANCIAL GOALS

The financial literacy unit contained four lessons
and a review. The first lesson, Currency and Banking,
ASSESSMENT TECHNIQUES focused on coins, bills, and checks. The objective of this
lesson was to be able to identify all physical types of
To measure the impact of our Financial Literacy and currency, understand the value of each coin and bill,
related lessons, Merrick Bank volunteers and Real and understand the basic elements of a check and how
Life interns administered self-assessments, written checks are related to currency.
assessments, and verbal assessments.
In the second lesson, Credit, Debit, and Prepaid cards,
Our goal has been to make these important financial students were taught basic credit terminology, the
literacy concepts more accessible to students with lower impact of credit card and credit usage on their financial
English proficiency, more active, and more practical to goals, and the differences between credit, debit, and
their lives. prepaid cards.

Within the third lesson, Budgeting Basics, students
learned how to keep a record of their income and
expenses, and how to divide their income into a simple
spending budget- ‘Spend, Save, Give.’

The fourth lesson, Budgeting and Financial Goals,
taught the students to decide whether their goals were
short-term, mid-term, or long-term, and how to save
accordingly. Each lesson had a set of activities to help
the students have an interactive way to understand and
retain the material.