Students will be able to:
Practice making financial decisions
Reflect on their personal values and how they can influence their financial decisions
Explore how values differ from person to person
National Standards for Personal Financial Education
Saving
9a: Explain how external influences (e.g. peers, family, or social media) can impact personal savings decisions
Students will be able to:
Practice making financial decisions
Reflect on their personal values and how they can influence their financial decisions
Explore how values differ from person to person
National Standards for Personal Financial Education
Saving
9a: Explain how external influences (e.g. peers, family, or social media) can impact personal savings decisions
What emotional reactions do you have when thinking or talking about money?
So far, who specifically have you learned the most from about managing money?
What is the first thing you do when you earn or receive money?
Directions: Use your Bean Map above to answer the questions below.
Part I: Round One Discussion Questions
Explain the reasoning behind how you spent your 20-bean income.
Take a moment to think about your values around money. Then, look at the top three to four categories where you are spending most of your beans. How do these choices reflect your values around money?
Part II: Round Two Discussion Questions
Think about how you chose to remove the 7 beans. What tradeoffs did you have to make? How did you decide which categories to cut down on?
What did you learn about yourself and your values around money through the process of cutting down your budget?
Part III: Reflection
What previous experiences in your life influenced how you would allocate your beans across your budget?
ARTICLE: What Do You Value? The decisions you made in the Bean Game were driven by your personal values and beliefs. Read this article to learn about four types of “life values” and how they can impact your habits around money. Then, answer the questions.
For each of the life values, identify which of the effects on money habits you relate to.
From the answer you selected above, where do you believe you drew these influences from?
Naresh started a new job and is having some of his paycheck deposited directly into a savings account. Which of the following values BEST explains why Naresh does this on a regular basis?
You overhear your friend Ginny say, "I made a budget for myself in my personal finance class and used my values to decide how I want to use my money." What does Ginny mean by this?
What are social values, as they pertain to money?