Module Key Topic

It is very important for student-athletes to develop an understanding of how banks work so that they can manage their banking in their best interest and this is what we are trying to do in this module. Properly managed bank accounts can reduce expenses and protect student athletes’ personal information. Making purchases on credit is a major part of everyday life to the point that it is frequently abused and may be transformed into excessive debt which is not manageable. By understanding ‘good’ and ‘bad’ debt student-athletes will be able to utilize debt when and where it best suits their overall financial plan. In this module, we aim to present the basic banking operations that most closely relate to your future needs and discuss the different banking risks associated with credit, debt, and credit history. Moreover, this module discusses the risks of loans and being in debt, as well as presents ways of keeping debt under control. The module is divided into six separate sessions with each session addressing a key area of the module’s theme.

Module Learning objectives

• Understand the basic banking operations.
• Discover the risks associated with bad loans and collaterals.
• Opening and maintaining the right bank accounts is a very important aspect of good money management. Your bank accounts are the center of your financial planning.
• There are different types of bank accounts that will help you get your finances in professional order.
• A debit card works like a plastic check. A credit card is a credit facility from a bank: Knowing the differences between credit and debit cards will help you use them appropriately.
• Credit is an arrangement that defers payment for borrowed money or a purchased item until later. Your credit history represents your financial reputation and it is very important to build a positive record with lenders.
• Any debt, as a whole, is not good. However, some types of debt are considered good because of the investment value they hold. Your personal circumstances and credit score are correlated with loan qualification and loan repayment ability.
• Defaulting on a loan will create a multitude of problems both in the present and the future.

Module Time Frame

Each session video runs an average of 7 to 8 minutes and students will need approximately another 10 minutes to complete the session exercises.

Materials given with purchase

• Access to teaching videos for all sessions of the module.
• Downloadable student workbook for all sessions of the module.

Session Completion

Each session will need to be completed to allow the student to go to the next one. Upon completion of the entire module, the student will receive a certificate of completion.