Students need to understand that they are responsible for their own wealth. No one is going to care about their financial well-being as much as they do. Maybe your students would like to: buy a car, pay for college or graduate school expenses, save for special occasions or emergencies, or buy a house someday. Once they decide why they are saving - and when they need the funds - students can decide how to save and invest.
Suggested student activities
- Have students develop a chart of their financial goals.
- Why do they want to save? How much will they need? By when?
- Have students chart their monthly income - even if it is just allowance - and their monthly expenses.
- How much money do they get each month?
- Where do they currently spend their money?
- How much, if anything, are they saving?
- Have students chart their savings.
- Where will they keep their savings?
- Will their savings earn interest?
- See "Rule of 72."