“Why is Personal Finance Planning Important?”Overview:This lesson is will show students why it is important to understand theirpersonal finance. They will look at some of their goals and decide how they will achievethem.Author: Dawn Beans, Cozad High SchoolPersonal Finance Standard(s):Standard 1: Students will develop and evaluate a plan to manage their moneyto achieve personal goals.Economic Standard(s):Standard 2: Students will understand that: Effective decision making requirescomparing the additional costs of alternatives with the additional benefits. Many choicesinvolve doing a little more or a little less of something: few choices “are all or nothing”decisions.Key Concepts:BankruptcyLiquid AssetsOpportunity CostPersonal FinancePersonal Financial PlanningResources:Personal Financial Literacy, Pearson Education, Inc./Prentice-HallPublishing, 2010 . Jeff Madura, Mike Casey, Sherry J. Roberts, authors. Chapter 1,pages 4-12.“Clay’s Candy Bar Madness,” Foundations in Personal Finance High SchoolEdition 2013. Clay Coleman, author. Handout 3 pages.Process:1. As students enter the room have them reach into a bag and randomly grab one piece ofcandy each. (Payday, Smarties, Dum Dum, Jaw Breaker, or Milk Duds) Instruct themto not eat the candy until the end of the activity.
2. Continue with the activity—see attached sheets (“Clay’s Candy Bar Madness”)3. After going over what each type of candy means, go over discussion questions 1-5.Discuss with students why understanding their personal finances is important toeveryone no matter what your age.4. Have students connect to the Nearpod presentation. Go through the presentation forChapter 1.5. Ask students how they plan to achieve their goals. Discuss the steps to Personal FinancialPlanning: Establishing the goals, Gather data, Analyze Data, Develop a plan, Implementthe plan, and Monitor the Plan.Conclusion:We all have goals and plans for the future. It is important to know what yourgoals are and how you will go about achieving them. It is important to understand thateveryone has different goals and will choice to do different things in life but we all wantto be successful. It doesn’t matter what we decide to do in life: graduate high school, goto college, get a job right after high school, get married, or get a divorce. We all want tobe financially sound. No one wants to file bankruptcy that is why personal financialplanning is so important. Do you know what your goals are for the next five years and ifyou do how will you achieve those goals?Assessment Activity:You have learned that financial planning is important. You need to knowwhat your goals are and how you can achieve them. On a piece of paper or Noteability,make a chart and fill in the following information. Make three columns: label the firstcolumn A and brainstorm what are your plans for the next five years (what are yourgoals). Label the next column B and write down what financial decisions need to be madefor what you plan. In the last column label it C and write down how financial planningcan help you achieve these plans.At the end of paper or Noteability page answer the following question: “Whatdid you learn from this lesson?”Extension Activity:Read the following article related to Financial Planning:“Why Most High Schoolers Don’t Know How to Manage Their Money”http://goo.gl/pHpg0. Conduct a survey asking students in grade 9-12 about how theymanage their money. Some sample questions may include: do they work, do they savepart of their money, do they spend all of their allowance or paycheck every week, addsome of your own questions. After conducting the survey write a short newspaper releaseexplaining how students at Cozad High School manage their money.
Personal Finance Personal Financial Planning Resources: Personal Financial Literacy, Pearson Education, Inc./Prentice-Hall Publishing, 2010 . Jeff Madura, Mike Casey, Sherry J. Roberts, authors. Chapter 1, pages 4-12. “Clay’s Candy Bar Madness,” Foundations in Personal Finance High Sc
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The roles of the finance function in organisations 4. The role of ethics in the role of the finance function Ethics is the system of moral principles that examines the concept of right and wrong. Ethics underpins an organisation’s sustained value creation. The roles that the finance function performs should be carried out in an .File Size: 888KBPage Count: 10Explore furtherRole of the Finance Function in the Financial Management .www.managementstudyguide.c Roles and Responsibilities of a Finance Department in a .www.pharmapproach.comRoles and Responsibilities of a Finance Department .www.smythecpa.comTop 10 – Functions of Business Finance in an Organizationwikifinancepedia.com23 Functions and Duties of Accounting and Finance .accountantnextdoor.comRecommended to you b
Personal Finance Course: Personal Finance Course Description: This course will provide a foundational understanding for making informed personal financial decisions leading to financial independence. Career Cluster: Finance Prerequisites: None Program of Study Application: This is a cluster course in the finance career cluster. It
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Mathematics of Personal Finance Mathematics of Personal Finance focuses on real-world financial literacy, personal finance, and business subjects. Students apply what they learned in Algebra I and Geometry to topics including personal income, taxes, checking and savings
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