As always, at Banzai we're committed to bringing you your most needed resources for teaching financial literacy. That's why we released the first edition of what we call "Life Scenarios" back in April. It's an interactive teaching tool that you can use to engage your students in active learning. The Life Scenarios are, as is usual at Banzai, completely free! Several of you have started exploring the Life Scenarios and implementing them in your classes. But, for those who haven't yet made the discovery, we wanted to walk you through some of the key advantages of the Life Scenarios and some ideas on how to use them.

Introduction

You're well aware that the majority of students learn a principle best when your explanation is accompanied by a chance to do something. Knowing that most state curricula require (or will require in the near future, if your state hasn't yet mandated a class in financial literacy) a wide range of financial topics, including budgeting, credit, loans, etc., We designed Life Scenarios to introduce each of these teaching points at a personal level. Whether you choose to use Banzai throughout the term of your class or as a single lesson, students will experience first-hand the impact of a variety of real-life financial choices. Each choice is introduced as a separate transaction, 30 in all. Your student will receive paychecks, purchase groceries, make car payments, buy gasoline, and cope with an unexpected, and expensive, turn of events. We had to throw in a piece of the rainy day we all experience sooner or later!

Teaching Ideas

Some teachers prefer to introduce Banzai and give the students a class period or two to process all of the transactions in one sitting. Banzai is flexible. Students can spend the rest of the semester using Banzai to track their personal and real income and expenses, with a privacy feature available (which complies with state requirements). These teachers often spend the rest of the course term exploring the topics students experienced first-hand (but virtually and safely) in the Life Scenarios.

We've received, however, valuable teacher input that Banzai can act as the avenue (coat-hanger) to introduce financial topics throughout an entire course term. These teachers will introduce students to Banzai Life Scenarios at the beginning of the course. Then, at the start of each class, the students will be given time (or it can be assigned as homework) to process a transaction or two as an introduction to the topic of that class period. One of the best ways to prepare your students for adult life with usable financial skills is to familiarize them with actual people, actual rates, and actual processes now. For example, you can assign your students to process transaction #1 (paying rent on the apartment) and invite a representative from a local property management company or your local housing authority to advise students on wise housing selection. Or, leave transaction #28 (a visit to Mercy Hospital) as assigned homework, and arrange for a visit from a health insurance representative for the next class period.

We hope you can see that the Life Scenarios are structured to bring a whole new level to your teaching. But hey, it just helps you do what you've been working so hard to do all along--i.e. empower your students with real learning for real life!

What's in it for you?

Our goal at Banzai is to bring you effective tools for teaching financial literacy in a powerful and simple way. Just like you've seen, or are about to see, grading your students' work is simple and quick. Because all your students' entries from the Life Scenarios transactions can be easily accessed through your Banzai teacher account, grading is a breeze.

Conclusion

Many thanks to all of you for your input and helping us to help you succeed. Please let us know how it goes. Share your experiences, feedback, ideas, and requests by emailing us at support@teachbanzai.com.