FL. Saving Strategies. SY 22/23
Presentation
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Medium
Gorki Marcelo
Used 1+ times
FREE Resource
8 Slides • 12 Questions
1
Lesson Objective(s)
SWBAT
Identify various rules of thumb and strategies to save money
Determine whether a direct deposit or manually saving is the better strategy for them
Understand how compound interest works to increase savings.
2
Prior lessons and concepts review!
3
Multiple Choice
An emergency fund is a type of savings account that you can use to cover unexpected expenses
True
False
4
Multiple Choice
It is recommended to keep at least three months' worth of living expenses in your emergency fund
True
False
5
Multiple Choice
It is better to use credit cards to pay for unexpected expenses instead of using your emergency fund.
True
False
6
Multiple Select
How much money should you aim to have in your emergency fund?
Enough to cover one month's worth of living expenses
Enough to cover three months' worth of living expenses
Enough to cover six months' worth of living expenses
It doesn't matter, as long as you have some money set aside for emergencies
7
Multiple Choice
Where should you keep your emergency fund?
In a high-yield savings account
In a checking account
In a money market account
In a CD account
8
Your Savings Goals Worsheet
Go back to google classroom and work on Part I of the worksheet.
I suggest you work with a partner or in groups of three.
The estimated time to complete this activity is 10 minutes.
9
Learning Resource 2
The 50-20-30 budgeting rule is a well known rule of thumb and is considered easy to follow. Read the article on the next slide and then answer two questions.
10
50/30/20 Budget Calculator - NerdWalletNerdWallet Home PageNerdWallet Home Page
You can open this webpage in a new tab.
11
Open Ended
List at least three reasons why the 50-20-30 rule is easy for people to follow, especially those who are new to budgeting and saving.
12
Open Ended
This article recommends that 20% of your income is meant for your savings, investments, and payments to reduce debt. What are the potential risks of having all three of these buckets belong in the same category?
13
Drag and Drop
14
Compound Interest Explained
When you save in an interest-bearing account, accumulating savings becomes even easier. How can you use compounding to increase your savings? Watch the following video from Investopedia and then be ready to answer questions.
15
16
Multiple Choice
What is compound interest?
Interest that is earned on an investment or savings account only on the original principal
Interest that is earned on an investment or savings account on both the original principal and the accumulated interest from previous periods
Interest that is earned on an investment or savings account only if the account is held for a certain number of years
Interest that is earned on an investment or savings account only if the account has a certain minimum balance
17
Dropdown
18
Multiple Choice
If you deposit $100 into a savings account that earns compound interest at a rate of 5% per year, how much interest will you have earned after one year?
$5
$100
$105
0
19
Your Savings Goals Worksheet
Go back to google classroom and work on Part II of the worksheet.
I suggest you work with a partner or in groups of three.
The estimated time to complete this activity is 10 minutes.
20
Open Ended
Complete the sentence. Today I learned...
Lesson Objective(s)
SWBAT
Identify various rules of thumb and strategies to save money
Determine whether a direct deposit or manually saving is the better strategy for them
Understand how compound interest works to increase savings.
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