Major Purchases and Saving for the Future

Component: Spending & Saving Money | Grade Level: Grade 9-10

Learning Targets:

Targets for knowledge, skills, and behaviours below are possible targets. It is not expected that all will be covered by a single Teaching Unit. Teachers can select their learning targets using the Teaching Units provided (to the right), adaptations of these Teaching Units, or Units/Lesson Plans they develop on their own.


  • Needs and wants are sometimes difficult to tell apart
  • Some spending decisions have greater consequences than others
  • Spending and saving decisions can be helped with a budget
  • Various factors can affect the prices of what we need and want
  • Legal documents and contracts should be reviewed carefully
  • A  goal of saving is to increase future purchasing power
  • Factors that affect savings (e.g., inflation, fees)
  • Impact of compound interest
  • Different factors can influence saving and spending decisions at different times of one’s life – the “life cycle”


  • Consider whether they “need” or “want” a product or service
  • Compare advantages and disadvantages – costs and benefits – in making consumer decisions
  • Track expenses and know how much they can afford
  • Save for a specific purchase or goal
  • Try and increase the value of money saved
  • Calculate how much will be needed, and how to save, for their future education or training


  • Compare costs and benefits when making a purchase with the price being paid
  • Make saving and spending decisions to live within their means
  • Make thoughtful, informed, consumer decisions
  • Review legal documents and contracts carefully
  • Make saving and spending decisions considering the possible impact on others and the environment

Teaching Unit:

Major Purchases and Saving for the Future

Students can encounter some major financial decisions quite early in life – e.g., cellphones, paying for education. Taking steps to make a good decision is important. Knowing ways to save for the future is also important.

Download ← Back to Resources