Grades K-2, 3-5
Publication
Grade 9-12
,
Lesson
What’s the Cost of Spending and Saving?
Objective
Students will be able to:
- Identify the costs and the benefits of spending and saving.
- Calculate investment accumulations for various interest rates and investment time periods.
- Compare the benefits and costs of saving and investment strategies that vary over one’s life cycle.
- Analyze and explain the impact of amount saved, time, and rate of return on financial accumulations.
Concepts
In this personal finance lesson, students will learn how compound interest makes savings grow.
Book Info
This lesson is part of Financial Fitness for Life 9-12, 3rd Edition and provides the slides and activities with educational technology tools. For full access to the book, shop the teacher guide and student workbook below.
Teacher Guide |
Student Workbook |
Available in eBook and hard copy |
Available in eBook and hard copy |
Description
This lesson examines the benefits and costs of spending and saving. The students learn how compound interest makes savings grow. Compounding provides an incentive to save and invest early. The benefits of saving and investing when you are young can increase substantially over time when funds are allowed to compound.
Resources
Related Resources
Using the children's book, "Sam and the Lucky Money", students learn about Chinese New Year and practice decision-making skills using...
Key Concepts: Decision-Making Grid, Opportunity Cost
Grades 9-12
Should Private Companies Operate Prisons?
Students analyze and rank the four general goals of corrections to help them determine their personal beliefs about what prisons...
Key Concepts: Incentives, Opportunity Cost, Profit…
60 mins
Lesson
Grades 9-12
What is the Most Ethical Way to Fund Public Schools?
Students analyze documents, create a school-funding graphic organizer, and write an email to their state representative with their plan to...
Key Concepts: Decision Making/Cost-Benefit Analysis, Opportunity Cost, Role of Government
90 mins
Lesson
Grades 6-8, 9-12
Simple Interest Calculator
This Simple Interest Calculator helps you calculate the interest earned on your investment over a set period of time.
Key Concepts: Interest, Interest Rate
15 mins
Calculator