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National Standards Idea Corner Share Your Ideas Acknowledgement

Setting Financial Goals

Objectives

  • Develop a reasonable set of personal goals for the future
  • Differentiate between short-, mid-, and long-term goals
  • Discuss goals with parents, teachers, or peers
  • Develop an appreciation for planning and the role that it plays in helping to achieve goals

Suggested Activities

  • Discuss what you need or want in the future. How much will your needs and wants cost?
  • Do you need all of the money for those things now, or can you accomplish some of those goals over time? How long will it take to accomplish each goal? How much money will be needed to accomplish each goal?
  • Some goals may be easier to set than others -- why do you think that is?
  • What are some behaviors you can exhibit that will help you achieve your goals? How does planning help you achieve your goals?
  • Discuss your goals with a parent, a teacher, or a friend. Do your goals seem reasonable? What are some of their goals in the next year? The next five years? The next 10 years? How are they planning to achieve those goals?

Tips for using The Home Zone to discuss setting financial goals

    Go to Cool Stories:
  • Watch "Saving & Investing," which discusses why saving is important, what investing is, and ways to save and invest.
  • Watch "Interest," which explains what interest is and how it works.
  • Watch "Home Ownership," which discusses the value owning a home as a financial goal.
    Go to Brain Food:
  • Use the "Calculator" to see how interest works first hand.
  • Visit "MindBuilder, Saving & Investing" for a discussion about income, expense, budgeting, and exercises in computing interest.
  • Visit "MindBuilder, The Value of Home Ownership" for a discussion of what it takes to buy a home and steps to homeownership.
    Go to Game Center:
  • Play "HomeBuilder," which reinforces a variety of concepts addressed in The Home Zone.

 

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