- Read examples of two different spending plans
- Apply what they have learned to create a spending plan
- Money Confident Kids Student Magazine printable
- “Twin Tales of Spending” Article on page 3
- “Getting to Your Goal” Infographic on page 8
- Writing paper, one sheet per student
- Optional: Drawing paper, one sheet per student
If students do not already have copies of the Money Confident Kids Student Magazine printable, make a class set prior to teaching the lesson.
Before Reading: Free Write
Step 1: Ask students to privately write down three things they would love to be able to buy. One should be something that they can see themselves owning within two years (short-term), another should be something they might want in 2–15 years (medium-term), and the last items should be 15-plus years on the horizon (long-term).
Full Class Reading
Step 2: As a class, read aloud the article “Twin Tales of Spending” on page 3 of the Money Confident Kids Student Magazine printable.
- Who had more money at the end of 10 years? Lauren
- How much did each girl have to put in the bank over 10 years? $12,000
- Why did Lauren have more than the $12,000 she invested at the end of 10 years? She diversified her investments.
- Did both girls achieve their goals by the end of the 10 years? Yes
- Lauren also wanted a gym membership as a teenager. She decided to join her school soccer team instead.
- Cassidy decided against a trip to Paris when she saw her sister’s new car. She bought a used car from her uncle instead.
Step 5: Together discuss the choices and sacrifices both girls made. Would students have made different choices? Apply this logic to examples of short- and long-term goals shared by students.
Review the “Getting to Your Goal” infographic on the back page of the Money Confident Kids Student Magazine printable. Ask students to re-create this infographic using one goal of their own choice. They should think carefully about what they want and what they would need to do to get there.
Supporting All Learners
Talk through the infographic as a group, using two student-provided goals as examples.
Ask students to create a financial plan or chart as part of their infographic.
Did students apply what they read to their personal plan in a thoughtful way?
Common Core Key Standards: RH.6–8.3