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Financial Literacy

Identify and Prioritize Your Personal and Financial Goals



This lesson introduces students to the elements of understanding and managing their money, types of financial service providers and strategies for investment.

Entrepreneurship Pathways from Ohio Department of Education

Standards addressed

Unit 9: Financial Literacy

9.1 Describe the fundamental principles of money.

9.2 Manage personal finances to achieve financial goals.

9.3 Discuss the use of financial service providers to aid in achieving financial goals.

9.4 Describe types of investment strategies.



  • Slides (transparency or PowerPoint)



  1. Distribute the Principles of Money: Vocabulary handout. Review vocabulary terms with the class.

  2. Using the slides or PowerPoint presentation, discuss with students that well-written personal and financial goals should satisfy the following:

  3. Be realistic: A student working part time is not likely to be able to afford a new car every couple of years, rent an apartment and pay for everyday expenses.

    Be specific: For example, “I want to save $3,000 for a down payment on a new car.”

    Have a time frame: For example, “When I graduate in a year ...”

    State the action to be taken: “I want to start an automatic deposit savings account with monthly withdrawals from my checking account.”

  4. Hand out the What Are My Goals? worksheets. Direct students to list two goals in each category (educational, social, financial, family, health/physical and recreational).

  5. Ask students to identify each goal as short-term (one to four weeks), medium-term (two to 12 months) or long-term (one year or longer).

  6. Ask students to answer the two questions about their sources of income.

  7. Using the budget worksheet and the information about Jillian provided, work through each of the budgeting areas with the students. Fill in the appropriate amounts in the selected columns and help them calculate the differences.

  8. Using the additional budget worksheet provided, ask students to project what their budgets might be based on the goals they set for themselves and the resources they need. Copyright©2012, Northeastern Educational Television of Ohio, Inc. All rights reserved.
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