Explain how saving is linked to overall wealth
Describe how saving and investing are different
Understand fundamentals of saving such as reasons for saving, how much to save, and strategies to enable saving
Acknowledge the role of delayed gratification in saving
Explain how saving is linked to overall wealth
Describe how saving and investing are different
Understand fundamentals of saving such as reasons for saving, how much to save, and strategies to enable saving
Acknowledge the role of delayed gratification in saving
Have you or your family ever saved money for something? What were you saving for?
What strategy(ies) did you use to save?
What does being weathly look like? Represent your thoughts without using words.
What does being wealthy mean to you?
Do you want to be wealthy? Why or why not.
Your friend recently got a pay raise and plans on putting more money into his savings account. You know that he does not have any investments and advise him to open a 401k (this is a retirement investment) instead. He doesn't understand why he should do so. What do you tell him?
Which of these types of saving are you already doing? If you are not saving which one would you do first?
Which of these 7 reasons to save is NOT really an example of saving, but rather of investing?
How much does Kal Penn recommend you save?
Why does it make sense to start investing right now?
Read this article. Then answer the questions.
Which of the 5 tricks are you already doing?
Which of the 5 tricks would be MOST difficult for you to implement? Why?
Use the savings calculator provided to fill in the chart.
Fill out the chart using the link provided.
Based on what you know about saving and investing, would the totals be the same if you had invested the money, instead of saving it? Why or why not?
Watch this video about a famous psychology study often referred to as the "Marshmallows Study". Then answer the questions.
When you were four, would you have eaten the marshmallow?
Reflect on a moment when you were very tempted to spend money on something. Did you end up spending the money?
Why is it sometimes SO hard to resist?
What is wealth?
How much of your paycheck should you save according to experts?
How are wealth and savings related?
Determine whether each action is an example of saving or investing:
Investing | Saving | |
|---|---|---|
Putting $20 per paycheck into an account to help pay for books during college | ||
Contributing 3% of your paycheck to a 401(k) plan offered through your job | ||
Buying shares of stock in your favorite clothing company | ||
Giving your cousin $5000 to help start his business, in exchange for 5% of his monthly profits | ||
Depositing your annual income tax return into an account until you have enough to buy a car |
Which of the following statements is TRUE?