Personal Finance Management Lesson
How to Buy a Car


Personal Finance Lesson for Secondary Students:  How To Buy A Car


Personnel: 1 Facilitator, and 4-5 optional Helpers (Bankers).



Facilitator Script (see handout)

1 large bag peppermints (200) divided up into 4-5 bags, so that each Banker has a bag.

A bag of small candy bars, enough for each student.

A banking spreadsheet for each banker (see handout)

A pen and clipboard for each banker

A pen for each student,

A Personal Finance Worksheet for each student (see handout)

A blackboard (or whiteboard) with chalk (or erasable marker)



Intro = 10 minutes

Facilitator introduces him/herself

Bankers introduce themselves

Facilitator explains the basic rules of the game and the procedure to be followed



Lesson 1.  REAL LIFE or Wants vs needs = 10 minutes

The difference between Needs and Wants


Pay Day # 1


Lesson 2.  Creating a Budget = 5 minutes

Definition of “Budget”

Definition of “Disposable Income”

Practice filling out a budget

Payday # 2


Lesson 3.  How to Open a Bank Account = 10 minutes

Definition of “Interest”

How to Open a Bank Account

Bankers assign each student a checking account & account number

Definition of “Transaction”

Students open a (practice) checking account

Students fill out bank book, calculate their balance, and deposit funds (candy) into their account

Payday # 3

Bankers verify the amount in each student’s account


Lesson 4.  Establishing Credit and Buying a Car = 10 mins

Explanation of how to establish good credit

Definition of “Overdrawing a bank account”

How to write a check

Practice paying bills and balancing checkbook


Buying a Car = 5 mins

Downpayment on a car

Definition of Delayed Gratification vs Immediate Gratification

Pass out flyers


Things to remember as a Facilitator: