Debt: Benefits and Costs

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InspireFinancialLearning.ca is an initiative of the Ontario Teachers' Federation to provide teachers with effective tools and strategies to help their students navigate the complex world of personal finances.

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Lesson Plan

This lesson introduces students to the concept of “debt.” After examining the costs of different types of debt and the effect on purchase prices, students determine whether debt is worthwhile.

Ontario Curriculum Based

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lesson plan

Grade Level: 7
Course(s)/Subject(s):
Mathematics, grades 1–8 (2005)
Social Studies, grades 1–8 (2013)
Learning Goals:
At the end of this lesson, students will:
- identify the benefits and costs of debt, and the consequences of having or not having it
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- Grade 7
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