unit 6: long-tErm savings plan projECt collaborative activity: savings chain of events (15 minutes) oBjECtivE: StUdentS wILL CreAte A ChAIn oF eventS dIAgrAm thAt ConneCtS Short-term wAntS/needS to the SoUrCe And SAvIngS. In their small groups from the motivation, have students map out a Chain of Events that could lead to their character saving the money they earn in order to reach their goal. Students should fill out the savings Chain of Events as a group and be prepared to share their diagrams with the class. the diagram will include: * the short-term need or want * a responsible way of earning the money to save (challenge groups whose scenarios included an irresponsible way to make money to revise the method used so that it is more responsible) * how or where they will save the money * the short-term goal for which they are saving whole group discussion: share source and savings (5 minutes) oBjECtivE: StUdentS wILL ArtICULAte theIr SAvIngS ChAIn oF eventS wIth theIr CLASS. have each group share their diagram and discuss: * how did you revise the irresponsible decision making in your scenario to be more responsible (if applicable)? * where should your person save their money? * how long will it take them to save up enough money to reach their goal? * what personal strengths might the person in this scenario demonstrate by following the plan you created? independent practice: my short-term savings plan (10 minutes) oBjECtivE: StUdentS wILL CreAte A PerSonAL Short-term SAvIngS PLAn For two Short-term goALS. have your students turn to their handouts where they will have two savings Chain of Events charts to complete. the first one will be for a short-term wAnt, and the second one to be completed will be for a shortterm need. summary: next steps (5 minutes) oBjECtivE: StUdentS wILL revIew the StePS neCeSSArY For A Short-term SAvIngS PLAn. to conclude this lesson plan, ask your class the following summarizing questions: * what is the difference between a need and want? * what are different ways to earn money for a short-term need or want? * how can you save the money you've earned? explain to the class that, in the next lesson, they will begin to think about investing in their important longterm plans. LeSSon 29: SAvIng For A Short-term goAL 265