Identify everyday obstacles Americans experience when trying to save money
Understand why it is important to maintain an emergency fund
Describe their own savings goals as well as big picture reasons to save, such as for college or retirement
Estimate the cost of medium- and long-term goals and devise smaller, periodic savings goals to reach them
Identify everyday obstacles Americans experience when trying to save money
Understand why it is important to maintain an emergency fund
Describe their own savings goals as well as big picture reasons to save, such as for college or retirement
Estimate the cost of medium- and long-term goals and devise smaller, periodic savings goals to reach them
Even if you have the best intentions of saving money, it can often be hard to follow through. This article outlines why it’s so easy to impulse shop instead of saving to meet our goals. Answer the questions that follow.
Describe an example of a time when you experienced one of these shopping impulses. UCS
Read this article about the impact of social media on spending habits and then view the cartoon that follows. Use both resources to answer the questions.
In what ways can social media motivate people to spend more money?
“FOMO” and “Keeping up with the Joneses” are two phrases with a similar meaning. What do these phrases mean, and how does social media contribute to them?
How does “FOMO” impact one’s ability to save money for short- or long-term goals?
Watch this video and explain what causes people to live paycheck to paycheck, without having money leftover to save.
After watching the video, what causes people to live paycheck to paycheck, without having money leftover to save?
One of your first saving goals should be establishing an emergency fund. As you watch this video, answer these questions.
Why do you think they recommend saving 3-6 months’ of expenses in your emergency fund?
Why shouldn’t you keep your emergency fund money in your checking account?
It is never too early to start saving (or, even better, investing) for your retirement. As you watch this video, answer these questions.
Without words, describe what you think retirement looks like?
Why does the speaker recommend prioritizing investing for retirement over paying off Federal student loans? UCS
Does it surprise you the speaker recommends putting 80-100% of your retirement savings in investments? Why or why not? UCS
Investing for retirement once you start your first full-time job is one thing, but you can technically start with a Roth IRA even sooner. Read this article to answer the question on the right:
Would YOU be eligible to open a Roth IRA this year? Why or why not? UCS
Other than tip 1 (Take Time to Save Before Going to College), skim this article and find another tip that relates to SAVING MONEY as a way to reduce college costs. Describe the tip in your own words.
Describe the tip in your own words.
Though you’re probably not eligible now, your future self may want to investigate whether a Health Savings Account is a good opportunity for you to save some money. Watch this video and record all the potential benefits of an HSA as they’re mentioned. What’s one potential downside of an HSA?
A common trade-off of having access to an HSA is having to enroll in a high deductible health insurance plan, meaning you’ll be responsible for a greater percentage of your healthcare expenses before insurance kicks in. What is a potential downside of this tradeoff?
Read this brief article about the effects of saving on happiness, then answer the question on the right.
Given what you’ve learned in this lesson overall, why do you think higher rates of saving equate to greater happiness?
According to experts, your emergency fund should include enough money to cover your expenses for…
Which of the following is a good reason to start saving for retirement in your early 20s?
Which of these is a specialized account used exclusively for saving money for future health expenses?