For Teachers
Introduction Task Steps Activities Evaluation Conclusion

Task 4: Making Choices

Now you are aware of everything you have to spend money on. The next step is to figure out if there is any money left for optional spending. If you do have money left after paying for all of your needs you can choose to do some optional spending. This is where you have choices. What do you want to do with your money? Here are some examples of what you might like to do with it.

  • Retirement
  • Save for a car
  • Save for a house
  • Emergency Money (you should have 3-6 months)
  • Life Insurance
  • Education
  • Disability Insurance
  • Eating in restaurants
  • Going to the movies
  • Travel

Step 1: As a class, brainstorm other examples of optional spending. The teacher will make a list of everyone's ideas.

Step 2: Visit Banking on Our Future to listen and learn about saving and investing your money. Click on the "Adult" or "Teen" section. Take the time to listen to all of the sections. You may listen to them in any order you would like.

Step 3: What do you plan to do with your money? Will you use it for entertainment? Will you save it for education or retirement? Write a few sentences describing what you plan to do.

Step 4: Finish filling out your personal budget worksheet.