Financial Planning

Resource Choices

Students will make responsible decisions in the use of finances and other
resources that reflect personal values and goals and demonstrate commitment to
self and others.
 Resource Choices

Why Resource Choices are so important:

1. DEPENDENCY OR SELF-SUFFICIENCY:

How you spend your time and money will determine your level of independence. Financial autonomy means
you can make your own decisions, and be the boss of your own life as an adult without being dependent on
others.

2. CONTROLLED BY OTHERS OR PERSONAL

POWER:

The way you spend your time and money can determine how much personal power you will have. This includes
the power to make your own choices, follow your own direction and create your own opportunities.
 Resource Choices
Why Resource Choices are so important:

3. LIFESTYLE:

Your resource choices will determine your lifestyle. Do you want to get married, have children, travel, live in a
large home, or start a business, just to name a few. Financial independence means more options.

4. RELATIONSHIPS:

What can be more important than that? Relationships can be a meaningful resource and being overly
focused on money can hurt your relationships. It is up to you to balance your resources,

5. SUCCESS AND HAPPINESS:

It is up to you to determine what success means to you and to spend your resources accordingly.
You will find happiness as - you make resource choices that align with your values.
 NEWS FLASH!

● Read NEWS FLASH!

● Follow along on screen
 NEWS FLASH!

● Complete the questions in small groups

○ One person from each group record answers on google forum
 Thursday November 4
1. All assignment in before end of Term
2. Enrichment Academy Due Date
3. Next week at a glance..
a. Monday: Sexual Education Presentation
b. Tuesday: Vision Board Final Project
c. Wednesday: Finish Vision Board/ Enrichment Academy

- Questions?
 Review
1. News Flash questions
Lifestyle Choices
Questionnaire
● Complete the questionnaire
individually
●
With a partner
compare your
questionnaires
 Money Styles quiz
Complete individually

Calculate your points for each question

and add them up
Whats your Reflection
money style? In your reflection log answer the following
questions…

1.How many points did you get?

Spender or 2.What was correct about you?

3.What was incorrect about you?

saver? 4.What would you add to the definition?
Understanding your spending habits

● Spending habits are complex blends of

values you learned from both family and
personal experience.
● Your spending habits can change over time,
especially if your values change.
● People spend money in different ways
○ Planned buying
○ Impulse buying
Planned buying

● Purchase of goods and services only

when the buyer knows that money is
available for that specific purpose
Impulse buying

● Anything desired is purchase without any

thought about how much money is
available in the budget
Planned or Impulsive

1= planned

2=impulsive
Mr. Krabs

● Mr. Krabs creating a shopping list?

○ 1=planned
○ 2=impulsive
● Mr. Krabs going to the grocery store and
only purchasing items off his list?
○ 1=planned
○ 2=impulsive
Costco

● Ms.MacEachen goes to Costco, and

purchases WAY more items than needed
○ 1=planned
○ 2=impulsive
● What is some advice you would give
Ms.MacEachen?
Brooklyn 99

● Would you consider Jake a…

○ 1=planned buyer
○ 2=impulsive buyer
Confessions of a Shopaholic

● Would you consider Rebecca…

○ 1=planned buyer
○ 2=impulsive buyer
 Confessions of Shopaholic

● Rebecca states that she has many Needs Wants Values Goals
credit cards. With a partner reflect
on the following…
○ Describe how Rebecca’s spending
decisions reflect each of the
following: Needs, wants, values,
and goals.
Extreme Couponing

● Would you consider her a….

○ 1=planned buyer
○ 2=impulsive buyer
● What are some strategies she uses to
save money?
Understanding how you spend money (spending habits)
can:
● Reduce spending
● Assure financial commitments are met
● Save in order to reach goals
A Personal Financial plan

● Plan to:
○ Make the most of your income
○ Reach personal goals that require financial resources
○ Build savings for unexpected challenges

Example:

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aceachen_rockyview_ab_ca/_layouts/15/Doc.aspx?sourcedoc=
%7BA696EE63-49C6-4570-B50B-3164B63EB6D3%7D&file=Book
.xlsx&action=editnew&mobileredirect=true&wdTpl=TM16410113
&wdlcid=1033&wdNewAndOpenCt=1635872376476&ct=1635872
376476&wdPreviousSession=ccb95115-7d42-46ce-b70d-7891c87
a74db&wdOrigin=OFFICECOM-WEB.MAIN.TEMPLATES
Components

● Understand your spending habits

● Make sense of your personal goals
● Wise use of resources
What questions do we have about financial planning?