1. Review Old Assignments – Friday! Printouts Keyanna Burgher Anti Bully Day Feedback Letter home Self Assessment

2. The TALK

3. Stats – Investor Education Fund Youth Financial Literacy Study 2012 http://www.getsmarteraboutmoney.ca/en/research/Our-research/Documents/infographic- 2012-financial-literacy-study.pdfhttp://www.getsmarteraboutmoney.ca/en/research/Our-research/Documents/infographic- 2012-financial-literacy-study.pdf Stats: –9 out of 10 have a financial product –7 out of 10 have a savings account as a primary financial product –½ have debit and 1/3 have a chequing account –2 out of 10 have RESP –3 out of 10 actively saving for post-secondary –Parents - financial information then banks and friends –High interest but relatively low levels of knowledge: buying a car, living costs after college, moving out, managing debt –¼ of students say their school taught them what they needed to know about finances

4. Psychographic Segments Conscientious Consumers –Traditional cautious, researching things before they buy them and looking for value for money, worry about finances and social issues, environmentally and socially responsible, even split Trendy Techies –Friends and advertisers both have a big effect on how this group buys, cutting edge, latest gadgets, buy things on a whim, “important to treat myself on a regular basis”, even slip – males edged out a bit higher Stylish Spenders –Loves to shop and style is important, clothing, mainly female

7. Money Management Unit 3 – Life Transitions

8. Outline for Money Management: Lifestyle choices and values Challenges, joys and problems of independent living Financial goals, lifestyle goals and financial planning Income, Expenses and Budgets Banking Savings and Investments Credit and Debit Insurance Income Tax Action Plan Research Project –Car (new vs old, all costs!!!!), Wedding, Dream House, Post Secondary

9. Assessment and Evaluation: Journals Assignments –Money Tracking and Banking –City Sheets –Savings –Income Tax –Insurance Guest Speaker: –INSURANCE –BANKER and/or INVESTOR –LOANS –I WISH I KNEW THEN WHAT I KNOW NOW Exam and Action Plan

10. Financial Planning The saying “Money can’t buy happiness is likely very true. It is also true that the lack of money can cause problems and limit your personal and career options. The world of money is one area where people, especially young people, often feel that they are not in control. They may at times even feel that they are out of control. You can an now to take control of your financial affairs. Perhaps you have already started to do so. Financial planning will help you to get the most from your spending, to save for the future and to avoid debt problems.

11. Decision Making Styles – Review Lifestyle – Is quite simply the way you live. You have a current lifestyle and you also have visions of a lifestyle that you aspire to liv in the future. Lifestyle choices are influenced by a number of factors including: – Discussion: $500, lottery, extra $20, leisure time/cost, any job? Lifestyle choices reflect your VALUES!

12. Level A – Variety of lifestyle choices and clarify personal values to lifestyles Lifestyle Choices Organizer - groups of two (teacher selected) Time, Life Cycles – Affect Goals Lifestyle Possible challenges, joys and problems Clarifying Lifestyle Priorities –Reality Check How do you balance out your reality check? –Surplus or deficit –Is it easier to make more money or cut back on expenses –Priorities?

13. Needs, Wants, Priorities Why is it important to separate your needs and wants? What is an example of a need and want in your life? What do you want to know about managing your needs or wants in your own life? Shopping – group, put three on the board from each group – 2 minutes (bought recently) Needs: a necessity, something required, something essential for life Wants: a desire, something wished for, something non- essential

14. Go through SHOPPING LIST – Categorize –You will soon learn that needs and wants vary from person to person and from time to time 1-2-3 System –1- essential for healthy living (basic food, clothing,shelter) –2 – are not essential but important (bike, transit pass, entertainment, education, etc.) –3 – not essential and not important (popcorn at the movies, the new music, video games, etc.) Shopping List – Rank based on the 1-2-3 system –Cost and amount spent on non essential purchases – what else could you have done with the money (winners vs losers)

15. Point Out What students define as a need or want influences the lifestyle you may have and that influences how much money you’ll need. Because needs are essential, they are necessary expenses, but expenses for wants can be reduced or even eliminated. Distinguish needs from wants and to set priorities is an important skill that will help you start managing your money now and throughout your life. Use this skill immediately to start managing your money and plan their transition from secondary school.

16. Quick Quiz Handout Journal: #8 –Identify a need or want a recent purchase filled, and whether or not the purchase was necessary. –Discuss with your parents how they distinguish between needs and wants and how they set priorities. –Discuss with your parents how they learned about finances and if they believe their high school education helped prepare them or how the school could have helped more.

17. Till Debt Do Us Part Video – Till Debt Do Us Part –Sharon and Brad (Second Marriage, six kids, Season 8 Episode 100) –Dream House Disaster (Season 9 Episode 1) –Liz and Will (Engaged and spending, Season 8, Episode 95) –Julia and Guy (two teachers Season 8 Episode 92) JOURNAL 8 –Summary and Principle 15

18. Income, Expenses, Budgets Money Management

19. Banking

20. Savings

21. Income

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