LESSON SAMPLER

Lesson Sampler This sampler contains the following contents from the finEDge program: 1. Table of Contents 2. Module 0 Lesson 4: Values and Financial Thinking Introduces the importance of recognizing and considering values when making financial decisions 3. Module 1 Lesson 3: Exploring Spending Lesson on spending that draws on this understanding of values Teacher’s Guide The Teacher’s Guide is the backbone of finEDge, designed to provide teachers with easy-to-use lessons organized by module. Features to look for in this sampler: • In-Lesson Assessments provide teachers with clear lesson objectives and information on whether students—either as a whole • The brief Opening Bell activities in each lesson prepare students for or individually—have mastered them. the day’s lesson content. The interactive learning activities in the Explore section comprise the new content portion of every lesson. • Differentiation Suggestions include Access activities that help Apply, the final section, includes: an application and reflection teachers anticipate and address lesson concepts that may be activity, a summary of lesson content and preview of the next challenging for students and Extension activities that provide ways lesson, and a homework assignment. to extend, enhance, or apply lesson content in different contexts.

Notes and Pointers Module 1 Lesson 3 Copyright © 2019 finEDge Lessons often contain notes and pointers to assist in planning and [4] Discuss the link between spending and financial well-being. Remind students of teaching. Examples in this sampler: the visions of financial well-being they recorded on their Financial Well-Being Maps in Module 0 Lesson 2. Ask: Module 0 reads • How could spending help you pursue your vision of financial well-being? Explain. Sample answer: Spending money on job preparation could help These notes highlight where the personal and external factors me get a better job. introduced in Module 0 (norms, attitudes, values, influencers, risk • How could spending hold you back from pursuing your vision of financial disposition, and economic environments) are woven throughout well-being? Explain. Sample answer: Spending all of my money now on the program. These notes stress ways in which students’ personal little things I don’t really need could mean that I don’t have money saved frameworks influence their financial decisions. for bigger things that I might really want or need in the future. Summarize by pointing out that learning how to make sound spending Research decisions is an important part of pursuing a vision of financial well-being. These notes provide insight into how students learn financial [5] Frame the lesson by telling students that today they will explore different ways education and what they need to know. finEDge is based on the to think about spending choices. results of that research. EXPLORE Digital Tools Examine Spending: Evaluate Expenses (10 minutes) Digital tools, such as the Concept Map, Debt Repayment Calculator, and MODULE 0 THREAD the Financial Well-Being Map, are incorporated throughout the program to enhance student learning. Digital Tools notes draw teachers’ attention Being sensitive to students’ financial contexts in relation to spending to some of these embedded opportunities for engagement and provide will allow students to benefit more fully from an exploration of spending important context for how students should use the digital tools in the lesson decisions. For example, the concept of choices about how to spend and when the tools will be revisited in later lessons. money may be quite different for students depending on the availability of disposable income in their households. [1] Explain that the lists that students made in the Opening Bell activity contain some of their expenses. An expense is the cost of something, or the amount of money a person has to pay to get or do something. 98 Examining Sheela’s Spending Copyright © 2019 finEDge (Student Workbook, p. 31) [2] Discuss common influencers on spending such as those listed below. Pause Module 1 Lesson 3 after each example to have students share additional examples of each type of influencer in their own lives. • Family, friends, and society. The opinions and experiences of family, friends, and society frequently influence spending decisions. For example, people who come from families that plan their spending for monthly expenses may be more likely to carefully plan how to spend their own money. • Advertising. Companies use a variety of tactics to make their products and services more desirable to customers. For example, some companies pay celebrities to endorse their products on social media, knowing that many customers aspire to be like the celebrities. [3] To practice identifying influencers on spending, have students complete Part 2 on Student Workbook, page 31. Suggest that students reread Sheela’s scenario on Student Workbook, page 30 and focus on identifying the influencers on her spending. [4] Bring the class together and have volunteers share their answers to Part 2 on Student Workbook, page 31. Focus the discussion on students’ justifications for their answers. Examine Spending: Future Time Preference (10 minutes) RESEARCH In terms of spending, people with future time preferences are more likely to forgo spending on things that will give them temporary enjoyment in the present—like buying a $5.00 latte every morning—in order to save toward a future goal—like going on a vacation. A future time preference (also known as delaying gratification) is associated with important long-term financial outcomes, such as savings, income, and employment. Having a future time preference relates to inhibitory control, which is an executive function that can be difficult to change. However, research indicates that people can change their self-control in specific situations, like spending, with deliberate, consistent strategies. 101

TABLE OF CONTENTS MODULE 1 MODULE 0 SAVING & SPENDING FINANCIAL DECISION-MAKING Lesson 1: Saving, Spending, and Financial Well-Being IN CONTEXT Lesson 2: Exploring Saving Lesson 3: Exploring Spending Lesson 1: Program Introduction Lesson 4: Traditional Financial Institutions Lesson 2: Financial Well-Being Lesson 5: Alternative Financial Institutions Lesson 3: Examining Financial Attitudes Lesson 6: Tools for Saving Lesson 4: Values and Financial Thinking Lesson 7: Tools for Spending Lesson 5: Influencers and Financial Well-Being Lesson 8: Budgeting Lesson 6: Risk and Uncertainty Lesson 9: Making Informed Spending Decisions Lesson 7: Economic Environments Lesson 10: Saving and Spending Culminating Project (2-Day Lesson) Lesson 8: Making Financial Decisions Lesson 11: Saving and Spending Assessment Lesson 9: Financial Decision-Making in Context Assessment Lesson 12: Revisiting the Financial Well-Being Map MODULE 2 MODULE 3 BORROWING EARNING Lesson 1: Introduction to Borrowing Lesson 1: What Is Earning? Lesson 2: Basic Loan Structure Lesson 2: The Job Landscape Lesson 3: How Do You Build Credit? Lesson 3: Education and Earning Lesson 4: Car Loans and Credit Cards Lesson 4: Planning for a Career Lesson 5: Best Practices for Borrowing Lesson 5: Making a Career Plan Lesson 6: Using a Debt Repayment Calculator Lesson 6: Displaying Qualifications for a Job Lesson 7: Build and Maintain Your Credit Score Lesson 7: Compensation Lesson 8: Your Rights as a Borrower Lesson 8: Interpreting Paycheck Deductions Lesson 9: Credit Conundrum Lesson 9: Dealing with Earning Issues Lesson 10: Borrowing Culminating Project (2-Day Lesson) Lesson 10: Earning Culminating Project (2-Day Lesson) Lesson 11: Borrowing Assessment Lesson 11: Earning Assessment Lesson 12: Revisiting the Financial Well-Being Map Lesson 12: Revisiting the Financial Well-Being Map

MODULE 4 MODULE 5 INVESTING MANAGING RISK Lesson 1: What Is Investing? Lesson 1: What Is Managing Risk? Lesson 2: Why Invest Money? Lesson 2: Exploring Risk Management Strategies Lesson 3: Stocks and the Stock Market Lesson 3: What Is Insurance? Lesson 4: Other Investment Tools: Bonds and Mutual Funds Lesson 4: Insurance Policies Lesson 5: The Investment Landscape Lesson 5: The Interests of Insurers Lesson 6: Savvy Investing Lesson 6: Comparing Insurance Plans Lesson 7: Retirement: A Common Investing Decision Lesson 7: Insurance Decision-Making Lesson 8: Consumer Rights and Risks in Investing Lesson 8: Consumer Advocacy Lesson 9: Investing Culminating Project (2-Day Lesson) Lesson 9: Managing Risk Culminating Project (2-Day Lesson) Lesson 10: Investing Assessment Lesson 10: Managing Risk Assessment Lesson 11: Revisiting the Financial Well-Being Map Lesson 11: Revisiting the Financial Well-Being Map MODULE 6 FINANCING POST-SECONDARY EDUCATION Lesson 1: What Is Post-Secondary Education? Lesson 2: Why Seek Post-Secondary Education? Lesson 3: The Cost of College Lesson 4: Alternatives to Bachelor’s Degrees Lesson 5: The Post-Secondary Education Financing Landscape Lesson 6: Applying for Financial Aid Lesson 7: Student Loans Lesson 8: Managing Finances During Your Post-Secondary Program Lesson 9: Repaying Student Loans Lesson 10: Financing Post-Secondary Education Assessment Lesson 11: Revisiting the Financial Well-Being Map Lesson 12: End-of-Program Assessment

Copyright © 2019 finEDge Vocabulary • value Module 0 Lesson 4 Vocabulary Routine Values and Financial Thinking Consider utilizing a LESSON OPENER vocabulary routine that involves pre-teaching, Big Idea explicit instruction, and revisiting the terminology • Exploring individual perspectives and situations and broader economic factors and concepts in the lesson. This can be provides a basic foundation for analyzing financial choices and decisions leading to financial the suggested routine on well-being. pages viii–ix or a routine of your choosing. Without it, Lesson Objectives students only maintain surface-level knowledge By the end of this lesson, students will be able to: with little application. • Identify personal values, Digital Tools • Reflect on how values influence financial well-being, and • Lesson Slide Deck • Make connections between values and financial decisions. • Financial Well-Being Map Materials Planning • Values and Financial Decision-Making (Student Workbook, p. 9) • Homework: Comparing Values (Student Workbook, p. 10) o Be prepared to share your top three values from the From Module 0 Lesson 3: Values Inventory with the • Jackson’s Attitudes (Student Workbook, p. 6) class. • Siobhan’s Attitudes (Student Workbook, p. 7) MODULE 0 THREAD This lesson asks students to identify and clarify their personal values. Over the course of this program, students will explore how values impact their daily financial decisions and ultimately their paths to financial well-being. This lesson is not about teaching values; it’s about generating an awareness within each student that values play a critical role in financial behavior. The role of the teacher is to allow students to consider their values in a constructive manner. Values are deeply personal and all viewpoints should be respected. The classroom environment, as illustrated by the agreed-upon norms in Module 0 Lesson 1, needs to be one that fosters respect for differences. Module 0 Lesson 4 32

DIGITAL TOOLS Copyright © 2019 finEDge This lesson is the first opportunity students will have Module 0 Lesson 4 to consider and record their values on their Financial Well-Being Maps. This is the only part of Values and Financial Thinking their Financial Well-Being Maps students will work on today. OPENING BELL Students will address additional parts in other HOMEWORK ROUTINE lessons in Module 0. Students will return to the Values section of their Financial Well-Being Maps at Invite volunteers to share responses from Student Workbook, page 8 that the end of every module and update it as they think might impact their own financial attitudes or decision-making. necessary as they consider newly acquired knowledge and skills. What Is Important to You? (5 minutes) [1] Ask students to list 3–5 things that are important to them. Emphasize that these might be items (e.g., a smartphone, a car) or strongly held beliefs and ideas (e.g., family comes first, loyalty to friends is important). Guiding questions: • What is important in your life? In school? • What brings you happiness? [2] If students feel comfortable, encourage them to share one or two things from each of their lists with a partner and then have volunteers share with the class. [3] Explain that the beliefs and ideas students have identified as important to them are called values. Remind them that we hear the word values in a lot of different places, such as “family values” and “religious values.” Clarify that some of the other things students identified as important to them (e.g., a smartphone, a car) may be things they value, treasure, or think highly of, but are not considered values. [4] Frame the lesson by explaining that students will explore the values that impact their visions of and quests toward financial well-being. Module 0 Lesson 4 33

Values Inventory Copyright © 2019 finEDge Module 0 Lesson 4 EXPLORE Identify Values (15 minutes) [1] Ask students to open their digital Financial Well-Being Maps and click on Values. [2] Walk the class through the following procedure for narrowing each student’s list down to his or her three most important values. Consider using your own prioritization of the values as a model. • Ask students to read through the list. If they wish, they can add values they think are missing at the bottom of the list. • Have students click on the 10 values that are the most important to them. • Of these 10 highlighted values, have students indicate the five that are the most important to them by clicking on five values to return to the original list. • Of these five remaining values, have students indicate the three that are the most important to them by clicking on two values to return to the original list. • The three remaining values are those that are most important to students. [3] Encourage students to take time to reflect on the final three values they selected and how these might influence their personal visions of financial well- being. Analyze Values (10 minutes) [1] Have students take a few minutes to compare their lists of 3–5 important things from the Opening Bell to the values they recorded in the Values Inventory. Ask: Were they the same or different? Why might that be? Sample answers: Same: I’ve had a lot of talks with my family about this, so I felt like I already had a good sense of my values. Different: I think my first list was more about things I valued and less about my values. 34

Module 0 Lesson 4 Copyright © 2019 finEDge [2] Display your top three values and ask volunteers to display theirs as well. Ask questions such as the following: • How do your top three values differ from those of your teacher or classmates? Sample answers: The values I chose, like having a job, seemed to be mostly career related. Some of my classmates focused more on social values, like being part of a community. The values I chose were very diverse. Some of my classmates choose three values on a similar theme. • Why might it be informative to compare your top three values to those of your teacher or classmates? Sample answer: When I saw that others had similar values, it made me feel confident about my choices. When others chose different values, I started to question my choices. But, I think questioning is a good thing. It makes me consider other viewpoints. It also helps me confirm my own choices. • Were there any values that didn’t make it into the top 10 for any student? Why might that be so? Sample answers: Yes: It might show that as a group we generally have similar values. No: It might show that different people have different values and there is a wide range of values. [3] Tell students that our different values play a big role in the different life decisions and financial decisions we all make. [4] Have students return to the Jackson and Siobhan scenarios on Student Workbook, pages 6–7. Tell the class that Jackson’s values include: • Having a job, • Being a good friend, and • Having a vibrant social life. Siobhan’s values include: • Feeling secure and stable, • Having a degree, and • Making a lot of money. Ask: How are their values influencing their life and financial decisions? Sample answer: Jackson’s value of having a job led him to a well-paying engineering job, but it also led him to take on quite a bit of student debt. Siobhan’s value of feeling secure and stable led her to follow her parents’ spending example and build up an emergency savings account. 35

Values and Financial Decision-Making Copyright © 2019 finEDge (Student Workbook, p. 9) APPLY Influence of Values on Financial Decisions (10 minutes) [1] Have students work independently to determine how their top three values might influence the financial decisions described on Student Workbook, page 9. [2] Debrief Student Workbook, page 9 by asking questions such as the following: • Which decisions were more influenced by your values? Less? Why do you think this was so? Answers vary. • Did any of your values influence all of the decisions? None of the decisions? Why do you think this was so? Answers vary. In-Lesson Assessment Use students’ responses to the questions on Student Workbook, page 9 and the follow-up discussion to assess their understanding of the connection between values and financial decisions. Expect the majority of students to acknowledge the connection, but at this time they may have difficulty articulating how a value might actually influence a decision. If students struggle, revisit the discussion of how Jackson’s and Siobhan’s values influenced their financial decisions and see if students can apply this same reasoning to their own situations. [3] Discuss with students how values may influence financial behaviors and decisions. Guiding questions: • Which of your values might lead you to spend money? Sample answers: Looking good, having up-to-date technology • Which of your values will have less of an impact on your finances? Sample answers: Being a good friend, helping others Module 0 Lesson 4 36

Homework: Comparing Values Copyright © 2019 finEDge (Student Workbook, p. 10) Summarize and Preview (5 minutes) Module 0 Lesson 4 [1] Summarize the lesson by reiterating: • Individuals all have their own sets of values; your values may be different than others’ values. • Values are personal beliefs that are considered important to someone. • Values often guide people in their choices. [2] In the next lesson, students will broaden their viewpoints by exploring how outside influencers can have an impact on values and attitudes. Homework Have students complete Student Workbook, page 10. DIFFERENTIATION SUGGESTIONS Access [1] To provide access to the vocabulary in this lesson, have students investigate the many meanings of value in the English language. [2] Look for definitions and examples such as the following: • Personal beliefs or ideas. For example, some people consider “putting family above all else” to be a core value. • The amount of worth (monetary or otherwise) that something has. For example, “This ring is valued at $5,000,” or “I value my privacy.” • The relative duration of a musical note. For example, the shape of a notehead and the presence or absence of stems and flags tell a musician how long to hold a note. • The lightness or darkness of a color. For example, in art, value can be used to create highlights and shadows. • An assigned numerical value. For example, for x + 7 = 11 to be a true number sentence, the value of x has to be 4. Extension To extend students’ understanding of the influence of values on financial decisions, have them reseach individuals, such as Chance the Rapper, Lya Battle, or Christopher McCandless, whose values guided them to live in unique or extreme ways. Encourage students to share their findings with the class. 37

Copyright © 2019 finEDge Module 1 Lesson 3 • Exploring Spending Vocabulary • expense LESSON OPENER • Big Ideas • Saving and spending behaviors impact financial well-being. Digital Tools • Saving and spending are the primary ways to manage money. • Lesson Slide Deck Lesson Objectives By the end of this lesson, students will be able to: • Evaluate spending decisions based on various factors, • Identify influencers on spending, and • Describe how spending decisions in the present can affect financial well-being in the future. Materials • Scenario: Sheela’s Spending (Student Workbook, p. 30) • Examining Sheela’s Spending (Student Workbook, pp. 31–32) • Homework: Examining a Spending Decision (Student Workbook, p. 33) • Write Your Own Spending Scenario (Teacher Handouts, p. 18; Extension) • calculators Module 1 Lesson 3 96

Copyright © 2019 finEDge Module 1 Lesson 3 Exploring Spending OPENING BELL HOMEWORK ROUTINE Have volunteers share the responses they recorded on Student Workbook, page 29 that they think will be especially useful in helping them or others save. Spending and Financial Well-Being (5 minutes) [1] Have each student list five things on which he or she (or a friend or family member) spends money. [2] Ask volunteers to share some of the items on their lists. Sample answers: Clothes, transportation, snacks, family expenses [3] Help students connect day-to-day spending and general well-being. Ask: • Which of the things you listed contribute to your general well-being? Explain. Sample answer: Contributing to my family’s expenses reduces the stress on my mom, so she can spend more time with me and my siblings. • Which of the things you listed contribute to your financial well-being? Explain. Sample answer: The money I spend on transportation to get to and from school contributes to my financial well-being, because getting an education will help me get a good job. Module 1 Lesson 3 97

Module 1 Lesson 3 Copyright © 2019 finEDge [4] Discuss the link between spending and financial well-being. Remind students of the visions of financial well-being they recorded on their Financial Well-Being Maps in Module 0 Lesson 2. Ask: • How could spending help you pursue your vision of financial well-being? Explain. Sample answer: Spending money on job preparation could help me get a better job. • How could spending hold you back from pursuing your vision of financial well-being? Explain. Sample answer: Spending all of my money now on little things I don’t really need could mean that I don’t have money saved for bigger things that I might really want or need in the future. Summarize by pointing out that learning how to make sound spending decisions is an important part of pursuing a vision of financial well-being. [5] Frame the lesson by telling students that today they will explore different ways to think about spending choices. EXPLORE Examine Spending: Evaluate Expenses (10 minutes) MODULE 0 THREAD Being sensitive to students’ financial contexts in relation to spending will allow students to benefit more fully from an exploration of spending decisions. For example, the concept of choices about how to spend money may be quite different for students depending on the availability of disposable income in their households. [1] Explain that the lists that students made in the Opening Bell activity contain some of their expenses. An expense is the cost of something, or the amount of money a person has to pay to get or do something. 98

Module 1 Lesson 3 Copyright © 2019 finEDge [2] Share with students that learning to evaluate expenses is an important part of developing sound spending behaviors. Evaluating expenses means thinking about expenses in order to be strategic about spending. Spending can be evaluated through a number of different perspectives, including practical concerns, values, and financial well-being. [3] Explain that spending can be evaluated in terms of practical concerns, including: • Necessity. Some expenses are essential and unavoidable. o Ask: What are some examples of necessary expenses? Sample answers: Food, housing • Urgency. Some expenses are more pressing than others or may be unexpected and must be prioritized over others. o Ask: What are some examples of urgent expenses? Sample answers: Medical expenses, car repairs • Consequences. Not paying some expenses can have undesirable or costly outcomes. o Ask: What are some examples of negative consequences for not paying certain kinds of expenses? Sample answers: Service being disconnected or having to pay a late fee for not paying a cell phone bill [4] Point out that people can also evaluate spending in terms of alignment with values. • Whether or not a person is aware of it, personal values often impact spending decisions. For example, someone who values social status may be more inclined to spend money on trendy, name-brand items. o Remind students of the work they did on identifying values in Module 0 Lesson 4. Ask: What is one example of how your values affect your spending? Sample answer: I value being charitable, so I donate money and time to the local food pantry. 99

Scenario: Sheela’s Spending Copyright © 2019 finEDge (Student Workbook, p. 30) [5] Still another way people can evaluate spending is in terms of their personal Module 1 Lesson 3 visions of financial well-being. • Ask: What is one example of how your spending does or does not align with your current vision of financial well-being? Sample answer: I spend money on going out with my friends, which aligns with my vision of having enough money to enjoy myself. [6] Encourage students to practice evaluating expenses through various perspectives by having partnerships read the scenario on Student Workbook, page 30 and complete Part 1 on Student Workbook, page 31. In-Lesson Assessment Use students’ responses to Question 3 on Student Workbook, page 31 to assess their understanding of how spending decisions in the present can affect financial well-being in the future. Expect students to be able to correctly identify which of Sheela’s expenses are aligned with her vision of financial well-being when she is 20 years old. If students struggle, consider rereading the first bullet point pertaining to Sheela’s vision of financial well- being on Student Workbook, page 30 and having students go through each of her expenses to identify which would help her progress toward that part of her vision. [7] Bring the class together and have students share and justify their responses to Question 3. Clarify any confusion or misconceptions as needed. Examining Spending: Recognizing Influencers (10 minutes) [1] Remind students of the Influencers Web they made in Module 0 Lesson 5. • Have students respond thumbs up or thumbs down and ask: Do any of your influencers affect your spending? Answers vary. • Ask: What is an example of an influencer affecting your spending? Sample answer: I choose what movies to see based on what my friends recommend. 100

Examining Sheela’s Spending Copyright © 2019 finEDge (Student Workbook, p. 31) [2] Discuss common influencers on spending such as those listed below. Pause Module 1 Lesson 3 after each example to have students share additional examples of each type of influencer in their own lives. • Family, friends, and society. The opinions and experiences of family, friends, and society frequently influence spending decisions. For example, people who come from families that plan their spending for monthly expenses may be more likely to carefully plan how to spend their own money. • Advertising. Companies use a variety of tactics to make their products and services more desirable to customers. For example, some companies pay celebrities to endorse their products on social media, knowing that many customers aspire to be like the celebrities. [3] To practice identifying influencers on spending, have students complete Part 2 on Student Workbook, page 31. Suggest that students reread Sheela’s scenario on Student Workbook, page 30 and focus on identifying the influencers on her spending. [4] Bring the class together and have volunteers share their answers to Part 2 on Student Workbook, page 31. Focus the discussion on students’ justifications for their answers. Examine Spending: Future Time Preference (10 minutes) RESEARCH In terms of spending, people with future time preferences are more likely to forgo spending on things that will give them temporary enjoyment in the present—like buying a $5.00 latte every morning—in order to save toward a future goal—like going on a vacation. A future time preference (also known as delaying gratification) is associated with important long-term financial outcomes, such as savings, income, and employment. Having a future time preference relates to inhibitory control, which is an executive function that can be difficult to change. However, research indicates that people can change their self-control in specific situations, like spending, with deliberate, consistent strategies. 101

Examining Sheela’s Spending (continued) Copyright © 2019 finEDge (Student Workbook, p. 32) [1] Remind students of the discussion from the previous lesson about having a Module 1 Lesson 3 future time preference. Ask: How might having a future time preference affect spending choices? Sample answers: You might choose not to buy little things that will give you pleasure in the moment and save for something special. For example, you might choose to stop buying chips and soda every day so you can save to go to an amusement park with your friends. [2] Encourage students to examine spending through the lens of a future time preference, by having them complete Part 3 up through Question 7 on Student Workbook, page 32. [3] Bring the class together and have volunteers share their answers to Question 7. Record and display students’ answers. If students suggest that Sheela should not spend any money eating out, you may wish to use guiding questions like those below to prompt thinking about spending in a more flexible way. Answers vary. • Is it necessary to cut out all spending on things that may not be absolutely necessary? • Is it realistic to think we should never spend on “extra” things we enjoy? [4] Have students individually select the suggestion they think is best from the class discussion and then use that choice to complete Question 8 on Student Workbook, page 32. [5] Ask several volunteers to share their responses to Question 8. Connect their responses back to the idea that day-to-day spending choices in the present impact future financial well-being. Highlight the following: • Sheela may think she is not spending that much money each time she eats out, but the expense adds up over time, costing about $1,560 per year. That is $1,560 she will not have in the future to pay for college expenses or for her own apartment. • Sheela’s value of popularity will likely change in the future as she becomes more focused on starting her nursing career and living independently. Reconsidering the long-term importance of this value may help Sheela accomplish her goals for the future. • In order to fulfill all three parts of her vision of financial well-being, Sheela needs to have money to spend in the future. 102

Homework: Examining a Spending Decision Copyright © 2019 finEDge (Student Workbook, p. 33) [6] Share with students that figuring out a balance between enjoying oneself in the present and investing in one’s future financial well-being is an important piece of making sound spending decisions. APPLY Reflecting on Spending (5 minutes) To help students reflect on the different ways of examining spending, ask: If you were in a situation similar to Sheela’s, would you follow the suggestion you selected as the best one for Sheela in Question 8 on Student Workbook, page 32? Why or why not? Answers vary. Summarize and Preview (5 minutes) [1] Summarize the lesson by reviewing the following three ways to examine spending: • Evaluate spending from different perspectives, • Recognize influencers on spending, and • Examine spending from the perspective of having a future time preference. [2] Tell students that in the next lesson they will explore the role of traditional financial institutions in saving and spending. Homework Have students complete Student Workbook, page 33. Module 1 Lesson 3 103

Copyright © 2019 finEDge DIFFERENTIATION SUGGESTIONS Access To provide access to the concepts in the lesson, pose questions about how students spend their time: • What is something you regularly spend time doing? Sample answer: Homework • How important is it that you do this? Explain how it relates to your values and vision of financial well-being. Sample answer: Very important. I value success and doing well in school, and I want to get into a good college so I can get a job that pays well. • Who (e.g., parents, friends) or what (e.g., values, advertising) influences you to spend time doing this? Sample answers: Parents, teachers • How might spending time in this way now affect your goals for the future? Sample answer: Doing homework leads to better grades, which can help me get into college or get a job. Extension [1] To extend students’ understanding of how spending behaviors impact financial well-being, have them write their own spending scenarios on Teacher Handouts, page 18. [2] Students may exchange their completed scenarios with a partner and answer questions similar to those on Student Workbook, pages 31–32. Write Your Own Spending Scenario (Teacher Handouts, p. 18) Module 1 Lesson 3 104

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