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Unit1:MoneyManagement

Where I think I am / /13

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1.1aIcandescribethevalueofplanninghowmoneyisused. 1.1bIcangiveexamplesofsensibleandunwisespending decisionsandbehaviors. 1.1cIcancomparespendingpriorities. 1.2aIcandiscusshowIcanachievepersonalgoalsthrough moneygoals. 1.2bIcanexplainandwriteaneffectivefinancialgoal. 1.2cIcanprioritizeactionswhileworkingtoachieveseveral goalsatthesametime. 1.3aIcandiscusswhatinfluencesspendingdecisions. 1.3bIcanidentifytoolsandstrategiestomanagespending habits. 1.3cIcandemonstratehowthedecisionmakingprocess works. 1.4aIcandiscusshowaspendingplanhelpsmanage spendinghabits. 1.4bIcandescribewhataspendingplanis&howitsused 1.5aIcanidentifyhowtoplugspendingleaks&list strategiestosticktoaspendingplan. 1.5bIcandiscusswaystobepreparedforunexpected moneyevents.

EnduringUnderstandings
Prioritizingspendingdecisionscanenableyoutoreach yourfinancialgoals Settinggoalsandplanningbackwardscanhelpyouto ensurethatyoureachthem. Byplanningfirst,youcanmanagespendingtoreach yourgoalsfaster. Ensuringthatyouaresavingaportionofyourincome canhelpyoutoprepareforunexpectedevents.

EssentialQuestions
Howdoesspending,saving&valuesimpactyourfinances? Howcanyousetandmeasureprogresstowardfinancial goals? Howcanyouensurethatyouaremakinggoodspending decisions? Howcanyoucreateaplanforspendingthatwillallowyouto reachyourgoals? Howcanyouprepareforunexpectedspendingeventssothat youcansticktoaspendingplan?

Habits Values Spendingplan Payyourselffirst


Set measurable financial goals.

Vocabulary Delayedgratification Needs Goals Instantgratification Budget Income Emergencyfund Spendingplan PossibleInstructionalTasks

Wants Opportunitycost Expenses Cashflow

Use a criterion-based decision-making strategy for a major decision. Create a spending plan. Outline an action plan to manage spending

StudentssettheirownSMARTgoals:1shortterm,1intermediate&1 longterm. Applydecisionmaking processtodeliberatelydecidethebestoptionfora largepurchaseinthenext6monthsforeitheryouroryourfamily. Writeadetailed spendingplan Selectpointsfromyour selfassessmentthatyouwanttoworkon&write aSMARTgoaltodevelopthechosenskill.

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