1. Tuesday May 10th - Bell Work
Describe your dream house in four sentences. What cool features does it have? Where is it? Who lives in the house with you?

2. Agenda CNN Student News True/False Activity Financial Planning
Set Goals
Analyze Cash Flow
Make Decision
Create Plan
Monitor Plan

3. True/False Statements
We are going to discuss a few statements and see whether or not you believe them to be true or false.
You will get up out of your seat and travel to the side of the room that represents your stance (Window = True / Wall = False)
You will discuss on your sides why it is that you believe your response to be correct. One person will share out with the rest of the class.

4. Teens get most of their money from part-time jobs

5. Teens get most of their money from part-time jobs
False! 55% of teens report getting money from parents/guardians; 43% from gifts; 28% from odd jobs; 25% from part-time jobs; 21% from allowance; 6% from a full- time job; 2% from their own business. (Teen Research, Inc.)

6. Most teens who are 18 or 19 years old have a checking account

7. Most teens who are 18 or 19 years old have a checking account
True! 64% of teens years of age have a checking account. (Teen Research, Inc.)

8. Ninety percent of high school students rely on their parents for information about money

9. Ninety percent of high school students rely on their parents for information about money
True! Why is this a potential problem?

10. American teens spend about $10 billion a year.

11. American teens spend about $10 billion a year.
False! A recent survey showed that American teen spending exceeded $169 billion in one year. (Teen Research, Inc.)

12. Instant vs Delayed Gratification
We are constantly faced with the decision to do what feels good right now OR suffer a little during the present to reap the rewards later.
As we watch this clip, answer the following questions on your online notebook / journal
What challenge is being posed to these children? How do the children respond?
Which one of these children behaves most like how you think you would behave? Explain.
Do you think the children who ate the marshmallow will end up being less successful? Or does this not matter? Explain your reasoning.

13. Instant vs Delayed Gratification
After the original study was done in the 1960s, researchers followed up with these children. They found those who did not eat the marshmallow had higher GPAs, got into less trouble with the law, and made more money.
Instant Gratification - Sacrificing future happiness for current happiness
Delayed Gratification - Sacrificing current happiness for future happiness

14. Financial Planning
Financial Planning - Process of setting goals, developing a plan to achieve them, and putting the plan into action.
Without proper planning, we will fall victim to instant gratification every time!

15. Step 1 - Setting Goals
Take 1 minute to record a goal for yourself. Can be short term or long term, about school, money, athletics, or anything.
Then during this clip….
Record what is meant by SMART goals
After we go through the S, complete the Ws for your goal
At the end of the clip, revise your goal to be SMART :)

16. Step 2 - Analyze Cash Flow
Create a chart in your notebook similar to the one on the right for the last two weeks. If you don’t have any income of your own, think about the money your parents/guardians have spent on your behalf.
Then, answer these questions below
Have you borrowed any money during these last two weeks? If so, did you pay them back or do you still owe?
Did you save any of your income? Why or why not?
Did you think you spent your money wisely over the last two weeks? Why or why not?
Income
Expenses
List all sources of income and about how much you got
Allowance - $25
Gifts - $50
Job - $120
Selling Candy - $10
List all expenses and about how much they cost
Food - $80
Athletic Events - $15
Video Game - $60
Total Income
Total Expenses

17. Step 3 - Make Decisions
Problem - Arrived at movie theater with friends, but the movie we want to see is sold out.
Identify Your Goal - Seeing a movie with friends.
Establish Your Criteria - Decide what type of movie you want to watch, when you want to watch it, and how much money you’re willing to spend
Examine Your Options - Will you buy a ticket for a later movie? See a different movie? Rent one to watch at home?
Weigh the Pros and Cons - Consider how options fit criteria.
Make Your Decision - Decide which option best fits criteria
Evaluate Your Results - Discuss whether or not you made the right choice.
After getting a better sense of how much money you are earning and spending, it is time to make a decision.
Smart decision making is a whole process of its own.

18. Step 4 - Implement Plan
You’ve thought long and hard about your financial goals - now get out and do it!
This takes practice. Hard to stick to plans.

19. Step 5 - Modify Plan
Sometimes, situations come up that require you to change your financial plan.