1. WHEN IT COMES TO MONEY, WHY DO WE DO WHAT WE DO? By Julie Chapman for

2. FINANCIAL DECISIONS IMPACTED BY: PERCEPTION OF NEED VS. WANT PERSONAL VALUES OPPORTUNITY COSTS

3. FINANCIAL DECISIONS IMPACTED BY: NEED VS. WANT NEED – SOMETHING THAT IS ESSENTIAL; REQUIRED FOR LIFE WANT – SOMETHING THAT IS UNECESSARY BUT DESIRED; MAY IMPROVE QUALITY OF LIFE

4. FINANCIAL DECISIONS IMPACTED BY: NEED VS. WANT IS EACH OF THE FOLLOWING A NEED OR A WANT?  FOOD  CAR  HOUSE  COAT  CELL PHONE  CLOTHES

5. FINANCIAL DECISIONS IMPACTED BY: PERSONAL VALUES THOSE THINGS THAT ARE IMPORTANT TO YOU. EXAMPLES  FAMILYLAW SUCCESS  FRIENDSHONESTY SERVICE TO OTHERS  RELIGIONEDUCATION HEALTH

6. FINANCIAL DECISIONS IMPACTED BY: PERSONAL VALUES EACH PERSONS VALUES ARE DIFFERENT. LET’S SEE HOW THEY DIFFER IN OUR CLASS!

7. FINANCIAL DECISIONS IMPACTED BY: PERSONAL VALUES USING SCRATCH PAPER PLACE THE VALUES LISTED IN ORDER FROM MOST IMPORTANT TO LEAST IMPORTANT USING NUMBER 1-9.  FAMILYLAW SUCCESS  FRIENDSHONESTY SERVICE TO OTHERS  RELIGIONEDUCATION HEALTH

8. FINANCIAL DECISIONS IMPACTED BY: PERSONAL VALUES SHARE YOUR LISTS! NOTICE HOW VERY FEW PEOPLE WILL HAVE THE SAME ORDER. THAT IS BECAUSE VALUES ARE HIGHLY PERSONAL! THESE VALUES SHAPE CHOICES, FINANCIAL AND OTHERWISE.

9. FINANCIAL DECISION IMPACTED BY: OPPORTUNITY COSTS THE VALUE OF THE NEXT BEST CHOICE THAT IS GIVEN UP WHEN MAKING A DECISION. WHAT IS THE OPPORTUNITY COST OF GOING TO COLLEGE? THE INCOME GIVEN UP THAT COULD HAVE BEEN EARNED IF YOU WERE WORKING

10. FINANCIAL DECISION IMPACTED BY: OPPORTUNITY COSTS WHAT IS THE OPPORTUNITY COST OF CHOOSING TO GO TO THE MOVIES ON FRIDAY NIGHT? THE MONEY COULD HAVE BEEN USED ON SOMETHING ELSE!

11. FINANCIAL DECISION IMPACTED BY: OPPORTUNITY COSTS WHAT IS THE OPPORTUNITY COST OF CHOOSING TO DRIVE A NEW PICK-UP TRUCK?  MORE MONEY WAS SPENT ON A NEW CAR INSTEAD OF A USED CAR AND FUEL COST ARE HIGHER ON A BIG TRUCK!

12. WHEN IT COMES TO MONEY, WHY DO WE DO WHAT WE DO? HOW WE DECIDE BETWEEN OUR NEEDS VS. WANTS INFLUENCES OUR SPENDING DECISIONS. OUR PERSONAL VALUES INFLUENCE OUR SPENDING DECISIONS. THE COSTS OR BENEFITS THAT WE FOREGO WHEN WE MAKE A SPENDING DECISION MUST BE CONSIDERED.