Making Positive Money Choices - Understand Needs vs Wants
In this educational content, explore the difference between needs and wants, make informed decisions on spending, analyze influences on financial choices, and solve dilemmas related to money management. Engage with interactive activities and videos to enhance financial literacy and develop critical thinking skills.
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Presentation Transcript
- MAKE POSITIVE MONEY CHOICES
Your needs and wants 1. What is the difference between needs and wants? 2. Place your cards in two lists: Needs and Wants. What if going to the gym was good for your health and wellbeing? you needed a laptop to do your schoolwork? Think for yourself | 2
Zak Ash
Health bars Money: how much Zak and Ash have Happiness: how positive Zak and Ash are feeling Kudos: how much praise or respect Zak and Ash get from others
Your needs and wants Video one 1. Watch out for what triggers Zak and Ash s health bard to move up and down. 2. Watch for how the influences affect their choices around their needs and wants. Play video one
Your needs and wants Worksheet Video one Now you have watched the video: What happened when Zak blew all his money on his new trainers? What triggered their health bars to go up and down? What did this do to their other meters? Make notes on your worksheet. What would you have done? Are you more like Zak? Are you more like Ashley? What influenced Zak to buy?
Your needs and wants Values 1. Order the purchase cards from highest to lowest cost. Explain your guesses. Quantity Quality Emotional 2. Now reorder the cards based on the value from your character s viewpoint. 3. Share your character s bio and explain which items or events they might value most or least. Value Suitability Appearance 4. Explain what value means. Think for yourself | 8
Your needs and wants Solve the dilemma 1. What decision would you make and why? 2. What are the consequences of making the wrong decision? 3. Share your scenario and decision with the group.
Different types of influence Video two What feelings or thoughts that can persuade you to buy something? What influences your buying choices besides yourself?
Different types of influence Video two Watch out for the influences that Zak and Ash come across. Make notes on your worksheet. Play video two
Different types of influence Levels of Influence Now you have watched video two: Think about the influences from the video and how each one persuades you to spend. Pair with a partner and discuss how strong each influence is. Decide on two examples to share and write each on a Post-it note. In pairs, place your influence Post-it notes on the low-high influence line. As a class, share where you have placed your influence Post-it notes and explain why. 1. Which ones surprised you most? 2. How can you be aware of influences on spending and make smart choices?
Different types of influence Levels of influence 0 5 10 Low level of influence on buying decisions High level of influence on buying decisions
Different types of influence Worksheet Real influences Your task: 1. Analyse your assigned ad(s) in your expert group. 2. Complete the worksheet. 3. Change groups and present your most interesting finding to your new team. 4. Listen and take notes on other presentations. 5. After each presentation, discuss how each technique can influence you.
Different types of influence Real influences 1. Which influence strategy stood out to you as the most effective or persuasive, and why? 2. How might these techniques influence you? 3. Share one new thing you learned from the presentations.
Different types of influence Debate a) New technology will tempt us to spend more b) New technology will make us better shoppers
Different types of influence Debate 1. In your group, choose who will take on the different roles. 2. The group captain shares one idea on a blank piece of paper. 3. They pass it to the next member who adds a new idea, and so on, until everyone gets a chance to add their thoughts. 4. The group captain can choose the strongest facts supporting their motion and share them with the whole group. 5. You have two minutes to present your facts and to respond to your opposing team s comments. 6. The chairperson will wrap up by summarising both side s arguments. 7. The judges will choose the winning team.
How to make smart spending choices Buying habits Worksheet Choose to draw or write a definition for Impulse Buying and Delayed Gratification . You can use the words on your worksheet to help you. Discuss your work with a partner. Give some examples of things people might buy on impulse. Thinking about your own buying habits, what one thing have you learned?
How to make smart spending choices Board game
How to make smart spending choices Board game Reflection 1. What was the one myth that stood out for you and why? 2. What is one key message you ll take away that will help you make wiser financial decisions?
How to make smart spending choices Worksheet Healthy spending habits 1. Match the characters with good money strategies from The Healthy Spending Habits list. 2. The characters might need more than one healthy habit suggestion. 3. Give reasons for your choices. 4. Suggest other healthy spending habits you can think of to add to the list. 5. Which strategy would you be most likely to use?
