Overview:
Students begin this lesson with a whole class discussion on the importance and need for saving in general. Students will learn about planning to save and regular saving. In smaller groups, students will first answer questions based on scenarios, and then use the information to create their own savings plan. The class will then come back together for a whole group discussion on saving specifically for retirement and are introduced to IRAs and 401Ks.
Knowledge@Wharton High School Articles:
- “Zina Kumok’s Guide to Smart Student-loan Liftoff”
- “Why It Pays to Save: Knowing the Time Value of Money”
- “Talking Money: Students Reflect on a Year of Spending, Valuing and Socking It Away for College”
- “Smart Money — and College — Decisions Sometimes Require Sacrifice”
- “Saving for Retirement: ‘Time Is on Our Side’”
- “Olivia Mitchell on Why Young Consumers Should Just Say No to Spending”
- “Cap, Gown, Cash: Get Smart with Your Graduation Gifts”
- “British Couponer Extraordinaire: Jordon Cox Is a Savings Sensation”
- “Blogger Zina Kumok: Saving Money Helped Me Prepare for My Future and Even Find Love”
- “April 2018 Educator Toolkit: Financial Literacy”
- “A Trip to the Bank, Lollipops and World Savings Day”
- “A New Year and New Opportunities — Are You Ready?”
- “A Bank Account Is Your First Step to Financial Freedom”
Lesson Plan Details:
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