Why Savings is Important

Why Savings is Important

• Students can explain the importance of saving money in their own words.

• Students can list at least three methods of saving money.

• Each student creates a personal savings goal and a simple plan to achieve it.

Success Criteria

• Explain why saving is important

• Explain what it means to “pay yourself first” and why it’s beneficial

• Create a list of short, medium, and long-term savings goals

Learning Intentions

Why Savings is Important

Multiple Select

Would you rather...?

• Have $50 right now?

• $100 next week?

Open Ended

Write an explanation of your selection. Then, we will discuss as a class

Top 7 Reasons to Save Your Money

1. Save for an Emergency Fund
2. Save for retirement
3. Save for the downpayment on a house
4. Save to maximize interest rates
5. Save for a vacation, car or other big purchase
6. Save for regular or Recurring expenses
7. College Education

Open Ended

Think about a big purchase you would like to make. What is your big purchase? How long do you think you will need to save to make that purchase? Why?

Open Ended

Based on your previous answer create a mock savings schedule for your big purchase.

Open Ended

3. Why do you think only about 18% of Americans have 6 months of saving kept aside?

Pay Yourself First

• Complete the Edpuzzle posted in Google Classroom

• Then follow the teachers directions to complete the rest of todays activities in class