Activity 2: Money goals
1.Explain to the class that a money goal is a thing you are prepared to work or save towards. Examples of money goals might include a holiday or holiday spending money, Christmas presents, a computer game, a phone, etc.
Note: Further examples of money goals are available in Teacher resource sheet: Money goals.
2. Tell the class that they are going to do an activity that will help everyone to think a little bit more clearly about their money goals. Invite students to think about one of their money goals – they will need to explain the goal, state when they want to reach it, how much it will cost and the actions they will need to take to reach it.
3. Distribute one copy of Student worksheet: Money goals to each student.
4. Remind them to think about one money goal only and to complete the worksheet with that goal in mind.
5. Once the worksheets are completed divide the class into pairs.
6. Invite each pair to discuss why it is good to write down their money goals, rather than just having the ideas in their heads.
Note: Depending on your class you may wish to provide one or more of the following prompts. Writing money goals down:
- Makes your goals more real
- Helps to keep you motivated (especially if you put your list of money goals on the fridge so you see it every day!)
- Helps you figure out exactly how much you need to put away
- Helps you figure out when you will reach your goal
7. Take feedback from a sample of pairs, noting their responses on the white/black board.
8. Conclude by explaining to the class that some money goals can be achieved quite quickly – these are short-term goals, while others are longer-term goals and can take 10 or more years to achieve.
