To Save or Spend?
Students analyze a scenario where they have won a cash prize for a poster design contest. They must decide how to use their winnings by considering different variables.
I can use a decision-making model to explore how I’d save and/or spend money and how decisions could affect my future.
Chart Paper/SMART Board
Exit Card (see attachments)
Decision-making Graphic Organizer (see attachments)
Optional: Padlet app
To Save or Spend? Take-Home Activity (see attachments)
Pros and cons
Short and long-term needs and goals
- Students use sticky notes to write items and experiences they’d like to buy or save up for.
- On a T-Chart, students place sticky notes as a need or a want.
- Teacher leads discussion on what makes an item or experience a need or a want.
- Teacher introduces the Decision-making Graphic Organizer. Students use it to think through two personal items or experiences they choose from the T-Chart. They need to take into consideration short and long-term consequences of their choices. Focus should be on how a financial decision affects future well-being.
- Students make a final decision about the items or experiences chosen, including any changes they would make to their original model.
- Teacher may have students share one decision in small groups or as a class.
- Students complete an Exit Card reflecting on their learning and write a journal entry explaining their final decision.
- Teacher co-creates an anchor chart with student ideas about making healthy decisions when purchasing or saving up for an item.
- List 3-5 strategies you could use when making decisions about saving or spending money.
- How has this activity made a difference in the way you think about your financial decisions in the future?
- To Save or Spend? Take-Home Activity (see attachments)