Financial Planning NEFE Lesson 3 - What Should Rod Do? :: Curriculum

Accounting Model

Units:

Financial Planning NEFE Lesson 3 - What Should Rod Do?

Part of Unit: Personal Finance

Lesson Plan Overview / Details

This lesson helps students understand how one financial decision they make might means making additional decisions which are called “satellite decisions.” Students will learn the decision making process as it relates to buying their first car.

To the Instructor

Lesson 3 is the third lesson in a series of 4 lessons for Unit One, "Your Financial Plan: Where It All Begins." There are 7 units to this course. The National Endowment for Financial Education (NEFE) has a student guide workbook as well as an Instructors Manual (IM) that you need to download which is free of charge. Go to http://hsfpp.nefe.org/ for this free program, then click on Instructor at the top of the page and register to use this Financial Planning Program for high schools. You can also request free workbooks for your students to use and take home as well. You will have access to the IM which is online. There are chapter assessments at your fingertips for each unit as well. The NEFE website has videos, PowerPoint presentations, copy of the entire IM and student workbooks, and much more. This unit will take 4 to 6 class periods to complete depending on class schedules and added activities for student retention.

Lesson Time

Time: 50 Minutes

Standards

California Career and Technical Education Standards

California Academic Content Standards (Reinforced)

ELA.9-10.R.CAGT.2.3 Generate relevant questions about readings on issues that can be researched.2

Objectives

Upon completing this lesson, students will be able to:

Work through a decision making process as it relates to a plan of action
Identify potential roadblocks to following through with their decisions
Make realistic additions and/or changes to their decisions

Activities in this Lesson

Bell Work - Hooks / Set
Time: 15 Minutes

To be put on the board before students enter the classroom

“Read pages 9-10 and work with a partner or two to complete Exercise 1D to help Rob out with some solutions.”
Activity #1- Satellite Decisions
Time: 15 Minutes

Show the video with this lesson. Then draw circles on the board to create the “Satellite Decisions” making process as in exercise 1E and have students decide what decisions need to be made in order to take a class trip.
- The Apollo Decision [ Watch Video ] [ Download Original Video ]
Activity #3 - Buying Your First Car
Time: 20 Minutes

(Sample of the answers is in the instructors manual)

Students are to work in pairs to complete Exercise 1F “Deciding to Buy a Car.” Make sure to tell them to identify their criteria before considering any options. On the board, list their answers.

Materials/Resources

Teachers Manual - Unit 1 [ Download ]
Teachers Resource - Unit 1 [ Download ]
Unit One - Student Guide [ Download ] This is the Student Guide Workbook
Unit 1 PowerPoint [ Download ] Use the few slides that pertain to this lesson if you wish.

Conclusion

Reinforcement:

Go over what was learned today
Have a short discussion about how creating different options in purchasing a car go hand-in-hand with the decision making process

What next: