Financial+Goals+Original+Lesson+Plan

Context of the Lesson
The purpose of this lesson is for students to think about where their money comes from and what they spend their money on in order to begin thinking about creating a financial plan. Students will learn the difference between needs and wants; students will learn about setting SMART goals which include the following elements:


 * **Specific** || "I want to go to San Diego for Spring Break" is more specific than "I want to go somewhere fun over Spring Break." ||
 * **Measurable** || "I'll need $150 for my share of the hotel room for the week" is measurable; "I want to save aq bunch of money for the trip" is not. ||
 * **Attainable** || "I'll split the friving with my friends and take $200 more for gas, food, and other spending" is much more attainable than "I want $500 to fly there and $700 for spending money. ||
 * **Realistic** || I'll save $60 a month from my paycheck for the next six months" is more realistic than "I'll buy lottery tickets every week." ||
 * **Time Bound** || "I want to save all the money by March 1" gives you a specific date from which to plan backwards, unlike "I want to save all the money by spring." ||

By the end of this lesson, you will be able to

 * ====Examine why it's important to have a plan for your money====
 * ====Know what SMART goals are====
 * ====Analyze how you get and spend money====
 * ====Create three short-term financial SMART goals====
 * ====Create three intermediate SMART goals====
 * ====Create three long-term SMART goals====

Opening: Discussion of

 * ====Where does your money come from====
 * ====What do you spend your money on====
 * ====Needs and wants====
 * ====Financial SMART Goals====

Engagement: Worksheets

 * ====Three-week spending log====
 * ====Writing financial goals: three short term, three intermediate, three long term====

Resources/Materials Used
NEFE High School Financial Planning Program Student Guide Unit 1: Your Financial Plan: Where it All Begins

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Assessment
Students will create a poster which clearly represents their three short-term financial goals, three intermediate financial goals, and three long-term financial goals.

Open this file to see the rubric which will be used to assess the poster: