1. Your Financial Plan:
Where It All Begins

2. Which one do you agree with?

3. “Most people don’t plan to fail… They simply fail to plan!”
Discuss the questions in the student workbook on pages 1 and 2. Complete the “What Do You Think?” on page 2.
1-A

4. True/False Teens get most of their money from part-time jobs.
Most teens who are 18 or 19 years old have a checking account.
True – 65% have a checking account
Ninety percent of high school students rely on their parents for information about money.
True
On average, American teens spend more than$10 billion a year.
True, but the amount is over $150 billion

5. Personal Finance is 20% Knowledge 80% Behavior
REMEMBER
Personal Finance is 20% Knowledge 80% Behavior

6. Decisions: May involve trade-offs, sacrificing one option right now in order to achieve another. Also, decisions made today will affect decisions in the future. Finally, each decision carries with it related consequences that affect us, other people and the world around us.
Today
Not completing homework
Consumption of alcohol
You think of another
Tomorrow
Grade of zero
Sick feeling; possible arrest
Future
Probably nothing
If continues, addiction; money loss

7. Needs:. Very basic things we. must have to survive 4 Walls:
Needs: Very basic things we must have to survive 4 Walls: Shelter, food/water, clothing, & transportation Wants: Things that make life more interesting and fun, but can live without.

8. Essential Needs:. Basically our. 4 walls Near-essential Needs:
Essential Needs: Basically our walls Near-essential Needs: Cell Phone, Internet Wants: Endless List

9. Objective Question of the Day????? Agenda
Wednesday, Jan. 7
Thursday, August 11
Objective
I CAN establish a variety of goals based on my values.
Question of the Day?????
Yesterday’s Decision: Run two miles after school
Today’s Possible Consequence: ???????????
Answers will vary depending on your normal physical activity
Agenda
Sit at tables or computers (with names out)
Complete Objective/Question
Class Roll and Names
Take up Class Information Sheets
Turn in by Friday for a 100
Notes – Your Financial Plan
Value Survey – graded assignment
SMART Goals

10. Values: Beliefs and practices in your life that are very important to you; influenced by * Parents * Other family members * Friends * Religion * What you read * Experiences CAN CHANGE OVER TIME.

11. Complete Handout Values Survey Activity

12. list 10 goals in each column.
BACK OF VALUE SURVEY
Make four columns and
list 10 goals in each column.
Personal
Fun
Financial
Family

13. Types of Goals
Personal Goal – ways you hope to transform your personal life. How would you improve yourself? Ideas include eat healthier, attend a sports clinic, take a painting class, learn to play the guitar…
Fun Goal – It’s always a good idea to think about things you’d hope to do to make your life more interesting. Ideas include sky diving, hiking the Appalachian Trail, or going on a blind date, going on a cruise...
Financial Goal – Think about your life financially or what you want in a career over the next five or so years. Ideas include beginning to buying a specific car, going to prom, going to college, asking for a promotion...
Family Goal – Most of you have ideas about how you want your current and future family to be. Ideas include going to your sister’s basketball game, going on a family vacation, watching a movie with a little brother, getting married, having children...

14. Individual Project Individual Project
Parent Goal Essay Parents (and other adults) have goals for you. Discuss with that person about goals they have for your life AND how they feel they have helped you achieve those goals. Write in detail about the conversation.
Individual Project

15. Weekly Cash Flow Class Assignment
You will need to keep track of your receipts and payments over the next week. Receipts + Payments – This assignment is about BEHAVIOR!!!!
Class Assignment

16. Goal Travel to Italy in the summer of 2017.
Find out anticipated cost.
Save a percent each month.
Ask someone to go with me.
Book airline tickets & hotel reservations.
Read about Italy.
Decide exact locations to visit.
Learn about money exchange.
Have students list steps they believe are needed to obtain this goal.

17. S-M-A-R-T GOAL CRITERIA
Specific
Measurable
Attainable
Realistic
Time
1-G

18. Specific…….. Measurable… Attainable….. Realistic……. Time………...
SMART Goals
Specific……..
“Pay for lodging, transportation, meals for a 5-day trip to Washington, D.C.”
Measurable…
“$300 through fundraising, $50 from
birthday money, save $25 a week.”
Attainable…..
“If I stick to my plan, I’ll have the money when I need it.”
Realistic…….
“I still have enough money to live on while I work toward this goal.”
Time………...
“I need to have all the money by 6 months from now.”
1-H

19. Term Goals Less than a year One to five years More than five years
SHORT-TERM GOALS
Less than a year
MEDIUM-TERM GOALS
One to five years
LONG-TERM GOALS
More than five years
1-E

20. Include your age for each goal.
On your own paper.
Assignment
Each student will develop FOUR goals
Short-term (by end of nine weeks)
Short-term (less than a year)
Medium-term (1-5 years)
Long-term (over 5 years but less than 8 for class)
You need to list at least five steps that will help you accomplish the four goals listed.
Also, be thinking about a “money” goal to accomplish by the end of the nine weeks.
Include your age for each goal.
Remind the students about the traveling to Italy goal. Give examples if a possible goal is to make a basketball team – steps could be to practice so much each day, know the date of try-outs, make arrangements to be there, shoes, money, etc.
Stopping point if time appropriate.
THINK SMART

21. Factors That Affect Decision Making
Age
Factors That Affect Decision Making
Needs
Wants
What about you?
Family
Culture
Time
Society
Motivation
Money
Values
Education
Habits
Attitudes
1-J

22. Delayed Gratification
Willing to give up something you want now to get something even better in the future.
Saving money over time to make a major purchase.
Waiting to buy a new product until the price goes down.
Waiting to see the latest movie until the crowds get smaller and the lines shorter.
Complete exercise 1B on page 5
1-F

23. Opportunity Cost: The value of what is given up when you choose one option over another. What option did you chose over another in the past 24 hours? Satellite Decision: Smaller decisions that can result from a major decision.

24. Satellite Decision – Senior Class Trip to ???
When
to go/length
of stay
???????
???
???
???????
Where
to Stay
Major
Decision:
Class Trip to ???
???
???
???
Where to go
Transportation
???
???
Who will go
???
???
???
???

25. Small Groups Each group will be given a “Major Decision.”
Groups will complete all the “circles” about choices that have to be with that decision.
Transfer the choices to a larger colored Post-It – using markers and being neat.
Present to the class.

26. Group Names:
Satellite Decision
Buying a
USED car

27. Group Names:
Satellite Decision
Going to
Fall Formal

28. Group Names:
Satellite Decision
Going to
Washing DC

29. Satellite Decision Group Names: Planning a Surprise Birthday
Party for my
Best Friend

30. Group Names:
Satellite Decision
Going to
College

31. Group Names:
Satellite Decision
Moving to
Atlanta
with a friend

32. Group Assignment Satellite Decision
Going to Fall Formal or Prom
Going to college
Planning a family vacation
Planning a surprise birthday party for someone
Purchasing a used car
Going to the Washington DC
Moving to Atlanta with a friend
Each group member needs to ask FIVE different teens at JCHS to list items they have purchased in the past week. Compile an individual list; be sure to specify male or female.

33. The Decision- Making Process
NEFE High School Financial Planning Program
Unit One - Your Financial Plan: Where It All begins
Decision Making and Financial Planning
The Decision- Making Process
The Financial Planning Process
Evaluate
Results
Make a
Decision
Identify Your
Goal
Examine your
options
Establish
Criteria
Weigh Pros
and Cons
Monitor & Modify
the Plan
Implement
Set Goals
Create a Plan
Analyze
Information
You will have to make this last oval
1-L

34. Ellie On Her Own
List 20 things that Ellie must do in order to be prepared for her move to St. Simon’s Island.
Complete the math calculations in Section 2 ONLY on the back
Biweekly Gross Pay - $1,423.08

35. Ellie On Her Own Biweekly Gross Pay Withholding $1,423.08
Fed Income Tax (11.5%)
$163.65
State Income Tax (2%)
$28.46
Social Security (6.2%)
$88.23
Medicare (1.45%)
$20.63

36. Ellie On Her Own Minus Total Withholdings Biweekly Net Pay Total
$400.97
Biweekly Gross Pay
$1,423.08
Minus Total Withholdings
Biweekly Net Pay $