Get Ready for Your Career   Western Reserve Public Media
Overview Communication Skills Emotional Intelligence Financial Literacy Entrepreneurship Process Information Management Sample Careers Resources Teacher Materials Watch Online
Financial Literacy

Identify and Prioritize Your Personal and Financial Goals

 

Overview

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.

 

Materials

  • Slides (transparency or PowerPoint)

 

Procedure

  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.

 
pbs.org Copyright©2012, Northeastern Educational Television of Ohio, Inc. All rights reserved.
 
Listening and Speaking: Communication Skills Communication Skills: Conducting an Interview Conducting an Interview Writing a Résumé Writing a Cover Letter Going on an Interview Clear Communication Drawings (PDF File) Emotional Intelligence Nonverbal Communication and Body Language Nonverbal Language or Body Language What’s In Your Pocket (or Purse or Backpack)? What’s In Your Pocket (or Purse or Backpack)? What Is Emotional Intelligence? PowerPoint Presentation What Are My Goals? Setting Up a Budget Jillian’s Personal Budget My Personal Budget Savings Tools Note Taking Guide Savings Tools Presentation Characteristics of Savings Tools Investing Tools Note-Taking Guide Investing Tools Presentation Types of Investment Tools Bringing It All Together: Setting Financial Goals,  Budgeting, Saving and Investing Identify and Prioritize Your Personal and Financial Goals Principles of Money: Vocabulary Savings Tools Savings Tools Vocabulary Investing Tools Investing Tools Vocabulary