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.
KNOW:
- 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”
BE ABLE TO:
- 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
ACTION/BEHAVIOUR:
- 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
