9-Week Course

3.3 Strategies to Save

www.ngpf.org

Approximate Time: 45 minutes

TEACHER FACING SLIDES

JUMP$TART STANDARDS

Spending

• 1a: Identify their short-term and long-term financial goals
• 1b: Develop a budget to allocate current income to necessary and desired spending, including estimates for both fixed and variable expenses
• 1d: Evaluate the advantages of using budgeting tools, such as spreadsheets or apps

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ASSESSMENTS & GRADING

Important: Please do NOT include any NGPF assessments or answer keys in your Nearpod lessons.

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Grading Tip: Each NGPF lesson ends with an Exit Ticket which NGPF recommends for grading.

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CUSTOMIZE IT!

Please review the Nearpod slides and customize the content and activities based on your teaching environment.

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Delete teacher facing slides before facilitating lesson to your students!

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FACILITATION

Make sure you have the lesson guide available when you are facilitating (for time management, organization of lesson) and the answer key available when you are grading.

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If a resource or activity in a lesson was not transferable to Nearpod there will be a teacher facing slide making you aware.

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LESSON SLIDES

3.3 Strategies to Save

LEARNING OBJECTIVES

Students will be able to

• 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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RESOURCE 1: YOUR SAVINGS GOALS

Follow the directions on the following worksheet to complete Part I of the activity.

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RESOURCE 2: NEW TO BUDGETING?

WHY YOU SHOULD TRY THE 50-20-30

The 50-20-30 budgeting rule is a well known rule of thumb and considered easy to follow. Read the article on the next slide and then answer two questions.

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RESOURCE 3: PAY YOURSELF FIRST

Automating your saving can make it even easier for you to save! Watch the EdPuzzle video and answer the embedded questions to learn more about the benefits of making your savings automatic.

RESOURCE 4: WHAT TO SAVE WITHOUT THINKING? TRY APPS!

Another way to make saving easier? Use an app that automates saving small amounts. Read about one of the 4 apps in the following article from NerdWallet. Then answer the questions.

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RESOURCE 5: 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.

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RESOURCE 6: YOUR SAVINGS GOALS 4

Complete Part II of the following activity.

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RESOURCE 7: EXIT TICKET

Take the three question Exit Ticket to assess what you have learned about strategies to save.

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