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Main Curriculum Tie:
FCCLA Activity Option
See national program on Financial Fitness at http://www.fcclainc.org/content/financial-fitness/.
Case Study: What Would You Do?
As Bob anxiously opened the DVD player and described all its features, Sarah became more and more aggravated.
"We don't have money to be buying DVD players," she said.
"Of course we do, we're getting our tax refund soon. Plus it was on sale. I've wanted one of these for so long. When I saw it in the electronics store I just couldn't wait to buy it," claimed Bob.
"We were supposed to save our tax refund towards a down payment on a house!"
"There's no way we're ever going to have enough money for a down payment. So why not enjoy the money now? Plus, think of all the movies we can watch together."
Sarah became flooded with emotion and yelled at Bob, "How could you be so selfish!"
"Me?! Selfish?! I bought this DVD player for both of us! Why are you always such a tightwad?"
You may want to refer to the Forever Families website for more resources.
Content Outline, Activities and Teaching Strategies
Option 1: FEFE Define Financial Goals
Do not forget to look at the bulletin board idea and the power point presentation that goes with this lesson plan. The keys for the worksheets are located in their own link.
A financial goal is a goal that involves saving and investing to reach a specific amount by a specific date. For example, a financial goal may be to save $25,000 for a college education fund for a child in 15 years, or it may be to save $500,000 for a retirement fund in 25 years. You can achieve your financial goals through a combination of saving more, saving longer or earning a higher rate of return.
Taking Control of Your Financial Future
What do you want over the next few years that will take money to achieve? Have student jot down some possible goals on a piece of paper. Now prioritize them, starting with the goal that is most important to you. Sort your goals into short-, medium, and long-term frames and write your list on the "My Financial Goals" Worksheet. You're off to a good start!
Option 2: FEFE Keys to Defining Your Financial Goals
When defining your financial goals, it is important to keep a few things in mind:
It doesn't matter how big or small your financial goals are. If you carefully consider what you want, and what you can do, make a plan to get there, and then STICK WITH IT, you should be able to attain your financial goals. You may want to refer to this website for more information.
Option 3: Practice Writing Financial Goals
Option 4: Case Studies
Option 5: Articles
Option 6: Activity
Option 7: Interviews
"Achieving financial success doesn't have to be stressful, but it requires determination," Goller says.
"Newlyweds have a huge advantage when it comes to investing for the future – time. By taking the time
now to build a solid financial foundation, attaining financial independence is a real possibility."
See Tips For Managing Your Finances - After The I Dos.
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