Section outline

  • FOCUS / ARONGA

    FOCUS / ARONGA learning intentions:

    • We are FOCUSING on understanding the fundamental concepts of personal finance, including income, expenses, budgeting, saving, and investing.
    • We are FOCUSING on recognising the impact of financial decisions on their future.



    Banqer High

    Getting Started with Bank Accounts


    This lesson will help you introduce your students to:

    The first expansion of Banqer High. Students will be able to explore the platform dive into some key financial concepts and set up their own online bank accounts. 


    In this lesson you  will be guided through the process of getting set up on Banqer High using your school email address. Once online and signed in, you’ll be prompted to complete the Bank Accounts quiz before being taken to their Banqer High dashboard. You will then be able to engage with their bank accounts which are a vital part of Banqer High. You may face a random life event which will require you to make a decision given a scenario.


    Learning Intentions 

    After completing this lesson, and through regular engagement with Bank Accounts on Banqer High, students will be able to:

    • Sign into their Banqer High account. 

    • Explain and calculate interest, and compounding interest.

    • Explain what a notice period is and how it works.

    • Describe what a deposit and a withdrawal are.

    • Transfer funds online between two accounts, including savings accounts.

    • Compare and contrast between bank accounts and products.

    • Open a new bank account and view statements online.

    • Experience ‘random life events’ at any stage.


    Brief

    The Banking Expansion is enabled by default and will allow your students to open and manage their own bank accounts. To start with, students will be able to transfer money between their accounts and see how interest rates work over time. Once you have decided students are ready to learn lessons about borrowing and debt, you can enable Credit and Debit to give students a choice of various cards that have different rates, limits, and bonuses.

    Experience

    Your class will experience and develop an understanding of the following concepts:

    • The different types of Bank accounts.
    • An appreciation of the varying interest rates and conditions associated with different account types.
    • Viewing and managing accounts and transaction lists.
    • The concept of borrowing, debit, and credit cards.

    Impact

    Enabling the Credit Expansion will have the following financial impact on your students:

    • Students will be able to open up to two card accounts.
    • Students will be able to borrow money from the bank, they will owe varying levels of interest on this.
    • Students will be able to earn gems as they make purchases, which can in turn be used in the class store.
    • Students will have access to the class store, where they can purchase upgrades for their avatars.
    • Take a look at the Cheat sheet on Gems here for some ideas on how to use them in your class.