Money Smart: Making Cents of Your Finances

Gr 5 Up—As an introduction to dealing with money, this video provides lots of solid general information in an easily digestible form. The first section, "Decoding Your Paycheck," gives the ins and outs of gross pay vs. net pay and describes the scenario experienced by almost every teen employee: getting a first paycheck and discovering that the Federal Insurance Contribution Act took some of their money and the federal and state government did, too. "Saving" deals with goals, such as setting aside money for a car, education, or retirement, and describes using automatic transfers as a fairly painless way to save. This section also describes the difference between investing and saving and introduces the idea of risk and reward. "Spending" discusses credit versus debt, the cost of credit, building a credit rating, and responsible spending. While the word budget is never mentioned, the section on tracking money talks about the importance of knowing where one's money is going. Finally, giving is described as a good habit to get into and an inclination of successful people. At Learningzonexpress.com, teachers can download review sheets for the material discussed. The program could be used in a variety of consumer-related settings and classes.—Ann Brownson, Eastern Illinois University, Charleston