Financial Monitoring

Semester I, 2018/19

Ray Mizui
Email: ray_mizui@mcpsmd.net
Phone: 240-475-0471
Office location: Room 145
Office hours: Tuesday-Thursday 2:30-4:45

Introduction
Imagine having to move out of your parents’ house for the very first time, and not knowing how
to create a budget, what the interest rate on student loans are, or never having used a credit card.
For many young adults, this is a frightening reality. While understanding money management,
budgeting, and finance is no guarantee of success, ignorance of these concepts often come at a
grave cost. The number of Americans severely behind on payments on federal student loans
reached roughly 4.6 million this year, doubling the amount from four years ago. Americans who
haven’t made a payment in at least a year are at risk of long-term consequences, which in turn
restrains the economy’s growth. My main priority is for you to fully understand the monetary
value of any given item, as well as realize the TRUE purpose for financial responsibility–not for
materialistic ambition, but for the future generation. Ideally, this is a high school freshman year
course.

Objective:
Students will engage in active discussions that determine the ethical/moral reasoning and
economic benefit behind financial responsibility, as well as the severity of income inequality in
the United States and the rest of the world.

Student Expectations:
Students should be active participants and engaged in discussions. This course is largely
discussion based; however, I will spend the bulk of some classes giving lectures, and I expect all
of you to take notes. Because some of the questions are broad and subjective, it is important for
each student to have their say and challenge the conversation of their peers, myself included. It is
also important for each student to attentively listen to their peers, instead of forcing their opinion
onto others.
Overarching Course Questions/Topics
❖ Why is it important to be financially responsible?
❖ What is the income inequality gap in the United States and the rest of the world?
❖ College/Student Debt
❖ Personal Finance
Resources:
Wall Street Journal
International Business Times
Kiplinger Magazine
Forbes

Required Reading:
The Millionaire Next Door (Thomas J. Stanley and William D. Danko)
➢ Explains the basics of personal finance

Suggested Reading:
Thinking, Fast and Slow (Daniel Kahneman)
➢ Practical insight on personal choices

List of Units:
➔ Unit 1: Ethical/Philosophical Reasoning
This is the most fundamental unit of the entire course. Here, we will be exploring the many
reasons people decide to either spend or save their money. Are there cultural pressures that sway
an individual? Is there systemic institutional discrimination that may force an individual to be
financially irresponsible? We will begin this unit focusing on the why.
➢ Focus Questions/Activities:
○ Class polls: amount of money needed to live comfortably
○ From these polls, discuss findings
○ Ask why they came up with X amount
○ Why is financial awareness necessary?
○ What is materialistic ambition?
○ How does this affect our financial responsibility?

➔ Unit 2: Inequality
In this unit, we will examine the income inequality debate, and evaluate the possible solutions
economists have come up with. This unit will focus more on the who and the how. Who are the
“one percent” and how have they obtained their wealth? What about this middle class? Who is
classified as “the middle class?” Is a certain amount of inequality needed to drive competition?
➢ Focus Questions/Activities
○ Independent Research Day
○ Students will conduct their own “speed research”
○ Take 2-3 days research income inequality in the United States
○ Present findings to classmates
○ Discuss findings; were there any biases?
○ What, if any, were some of the solutions?
1. Begin the first required reading (Millionaire Next Door)
a. Read/Take notes on Chapters 1-3

➔ Unit 3: Student Debt and Loans

In this unit, we will learn about the rising cost of college tuition, and determine the availability of
higher level education to the below-average American family. Students will be able to examine
the probable causes for this spike in tuition, along with alternatives to taking out loans.
➢ Focus Questions/Activities
○ Independent Research Day
○ Students will investigate the different types of ways to pay for college
○ What are student loans?
○ How do they work?
○ How do I pay off my student loans in time?
○ What happens if I am not able to pay?
1. Keep up with the required reading (Millionaire Next Door)
a. Read/Take notes on Chapters 4-6

➔ Unit 4: Personal Finance

In this final unit, we will learn the basics of personal finance: setting a budget, the complicated
world of taxes, as well as understanding how a checkings/savings account works. Personal
finance is all about self-evaluation. The more consistent your self-evaluation, the better
your grasp of your financial situation will become. In other words, if you want to succeed
with money, you need to be constantly looking at your own life, your own goals, and your own
choices until that kind of reflection becomes second nature. These reflections must be
meaningful, otherwise they will not help.
➢ Focus Questions/Activities
○ Re-do the first class poll
○ Students will create a broad budget with the money they need to
live comfortably
○ Have discussions on the budget
○ Ask questions: is that really necessary?
○ When was the last time you made an irresponsible purchase?
○ The sooner you catch these mistakes, the quicker you will achieve
financial responsibility
1. Finish the required reading (Millionaire Next Door)
a. Read/Take notes on Chapters 7-8

Assignment Overview:
At the end of each unit, there will be a short quiz based on the class discussions, independent
research, as well as the required reading (25 points).
In addition the to quiz, students will create a presentation on every section of the required
reading. The rubric for this presentation will be uploaded onto Google Classroom (25 points).
Students will be expected to bring in a single article from the resource list (speak with me if you
have other ideas) and discuss your findings with the class. If you are unable to access these
websites, please let me know (10 points).
Class participation is vital in exchanging ideas, opinions, and beliefs. Please stay engaged
throughout my class, and ask questions if you are unsure about a concept (5 points/day).

Cumulative Projects:
➢ Unit 1: Ethical/Philosophical Reasoning
○ Create a visual presentation on the ethical/philosophical reasoning for financial
responsibility
■ Students must be able to analyze cultural differences, effects of
immigration on financial responsibility, etc.
■ Explain how financial philosophy affects young adults
■ This presentation will be worth 30 points (summative)

➢ Unit 2: Inequality
○ Create a visual presentation on the effect of financial inequality within the United
States.
■ Students may want to focus on gender/race/age disparities regarding
income or material wealth
■ Investigate how/why these discrepancies were caused
■ Mention possible solutions. Are they viable/attainable?

➢ Unit 3: Student Debt and Loans

○ Create a visual presentation investigating the rising cost of tuition for higher level
education.
■ Students will determine the various ways students can pay for higher
education
■ Students must be able to examine the consequences for taking out large
loans
■ May want to include commentary/analysis on this article: Elitists,
crybabies and junk degrees

➢ Unit 4: Personal Finance

○ This will be a relatively open assignment. Ideas include a self-evaluation journal
of your financial situation, creating a budget for the next three months, etc.
■ This assignment must include a personal reflection of this class as well as
personal finance decisions
■ If you have any questions, please feel free to contact me at any time.

Grading:
Formative: 40%
➢ Quizzes
➢ Class Participation
Summative: 50%
 ➢ Presentation (required reading)
➢ Cumulative Projects
Homework: 10%
➢ Article
➢ Class Notes/Discussion recap

If you have questions about your grade, please contact me during my office hours.

Additional Information:
➔ Out of Class Meetings
Meetings out of class can be set up by email, over the phone, or after class if you are in
need of additional assistance on your assignments/projects, would like to discuss some
part of the course material, or grading one on one.
➔ Attendance/Absences
It is critical that you attend each class as much of our research and work will stem from
in-class discussions. However, if you are unable to attend class, you will be expected to
set up a meeting with me (email, phone, after class) before the next class to discuss what
you missed and how you will make it up.
➔ Late Work Policy
10% will be taken any late work each additional day. If you are absent, I expect you to
turn the projects or assignments in to me electronically unless you are unable to do so. If
this is the case, please contact me immediately.
➔ Religious Holidays
If you have a religious event, or holiday, that conflicts with normal class time it may be
observed. However, prior to such a class you must come discuss with me when and how
you will make up the work you missed.