Module 13: Money Management

Time Frame
This module will require 10 hours of instructional time. The actual number of lessons will depend on the time available for each lesson.

Foundational Objectives and Learning Objectives

Level A - Extend Knowledge Base

Foundational Objectives
Students will acknowledge the value of money management in their lives .

Students will recognize that effective money management skills will help them meet personal goals.

Learning Objectives
Students will acquire and evaluate information in order to:

• reflect on and clarify their personal values relating to lifestyles
• examine the potential challenges, joys and problems of independent living
• determine their short-term and long-term financial goals
• identify the components of a personal financial plan
• relate lifestyle aspirations to personal financial plans
• differentiate between fixed, flexible and discretionary expenses
• differentiate between short-term and long-term savings
• prepare a budget
• examine available banking options
• demonstrate efficient banking skills
• examine the pros and cons of using credit
• explore different types of insurance
• complete a personal tax return.

Level B - Make An Informed Decision

Foundational Objectives
Students will develop the lifelong skills of making money management decisions that reflect personal goals, lifestyle goals and career goals.

Learning Objectives
Students will:

• state a money management challenge
• list strategies (alternatives) to meet their money management challenge
• predict the potential consequences of each alternative
• select the best strategy (alternative) based upon appropriate criteria
• compile a money management goal statement.

Level C - Carry Out Action Plan

Foundational Objective
Students will develop the ability and confidence to design and carry out money management action plans.

Learning Objective
Students will:

design and carry out action plans to improve their money management skills.

The selection of the following C.E.L.s for emphasis in this module does not preclude the development of other C.E.L.s in the suggested activities and strategies.

Foundational Objective (C)
Students will develop the ability to use language (listening, speaking, reading, writing) for differing audiences and purposes that are relevant to the students and to the subject of money management.

Learning Objective
Students will:

• outline information for reporting, discussing or sharing.

Foundational Objective (CCT)
Students will develop their abilities to become "strong sense" critical and creative thinkers.

Learning Objective
Students will:

• explore the implications or consequences of actions.

Foundational Objective (CCT)
Students will develop both intuitive, imaginative thought and the ability to evaluate ideas, processes and experiences relevant to their money management planning.

Learning Objectives
Students will:

• understand that real-life problems often have more than one solution
• examine knowledge in terms of what they already know and what they want to know.

Foundational Objective (TL)
Students will appreciate the value and the limitations of technology within society.

Learning Objective
Students will:

• understand the benefits and limitations of technological tools in managing money.

Foundational Objective (N)
Students will develop an understanding of the uses and abuses of mathematical concepts in everyday life.

Learning Objective
Students will:

• use an understanding of number to read and complete forms.

Foundational Objective (IL)
Students will develop a positive disposition toward lifelong learning.

Learning Objective
Students will:

• make choices in learning that reflect their needs and interests.

Foundational Objective (IL)
Students will develop the ability to meet their own learning needs.

Learning Objectives
Students will:

• plan self-directed projects and develop criteria for evaluation (with guidance of teachers as required)
• construct clear, achievable goals and plan to meet them.