MTH1W:

Financial Literacy

F1. Financial Decisions

F1.1 identify a past or current financial situation and explain how it can inform financial decisions, by applying an understanding of the context of the situation and related mathematical knowledge

F1.2 identify financial situations that involve appreciation and depreciation, and use associated graphs to answer related questions

F1.3 compare the effects that different interest rates, lengths of borrowing time, ways in which interest is calculated, and amounts of down payments have on the overall costs associated with purchasing goods or services, using appropriate tools

Shut Down the Supersharks!

This lesson explores how payday loan centres exploit borrowers with high interest rates and hidden fees. Students will..

  • use spreadsheets to calculate and analyze loan repayment costs and interest growth

  • convert short-term interest rates into annual percentage rates (APR) to understand long-term financial effects

  • learn about better borrowing options by researching safer loan alternatives and available debt support

The lesson includes an exit ticket and optional tasks for further exploration (e.g., creating infographics, analyzing payday loan trends).

F1.4 modify budgets displayed in various ways to reflect specific changes in circumstances, and provide a rationale for the modifications

Does Education Pay?

In this activity, students analyse graphical data comparing educational pathways and median earnings in Canada, and reflect on the economic value of education.

  • Topics explored include:

    • living wage vs. minimum wage

    • budgeting

    • needs vs. wants

    • future expenses based on lifestyle

    • reflecting on future educational goals

  • Includes a printable PDF, linked here, with teacher tips and space to jot your prompts, reflections, observations, etc.

  • It can be saved and edited to suit your needs and preferences before assigning.

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