Understanding financial decision making.
Students will learn how their values influence financial decisions. Students will understand the difference between a want and need, and they must take care of their needs first when it comes to making financial decisions. They will also learn how opportunity costs and trade-offs can help them with their financial decision making.
To understand how values influence financial decisions.
To understand the difference between a want and a need.
To learn what is an opportunity cost and trade-off.
You will need to set up Mentimeter and become a registered user of Take Charge Today prior to class in order to access materials.
Time Required for Lesson:
1 class period
Must be a registered user with takechargetoday.arizona.edu in order to access activities within PowerPoint.
Using Mentimeter (You will need to create an
After the students have finished entering their answers then discuss with them the final results.
After this lesson students should make better financial decisions by just asking if this
Activities (i.e. instructions, warm-up, lesson, cool-down):
1. Begin with slides 1-8.
2. Complete Spending Board Activity - See instructions on PowerPoint slide 9. Remember to review how values, wants and needs influencing their decisions.
3. Continue slides 10-13.
4. Now discuss with students how they could have made other choices during the spending board activity based upon opportunity costs or trade-offs.
5. Complete the You've Got Money activity from Take Charge Today located in student workbook pages.
5. Complete the You've Got Money activity from Take Charge Today located in student workbook pages. Use the provided rubric in this activity for grading purposes.
Comments (adaptations for various grades/ages, teaching styles, etc.)
•Take Charge Today -The The University of Arizona (n.d.). Financial Decisions. Retrieved from https://takechargetoday.arizona.edu/lessonplans/financial-decisions
•Take Charge Today -The University of Arizona (n.d.). Financial Decisions. Retrieved from https://takechargetoday.arizona.edu/lessonplans/exploring-values-needs-wants