Financial Decision-Making Scenarios for Practical Advice
Explore various financial scenarios such as buying sneakers on a budget, choosing between college options, managing a monthly budget, deciding on spending a cash prize, investing in stocks, donating to a cause, selecting a prom outfit wisely, purchasing a new phone, and making wise credit card decisions. Receive practical advice and tips for handling each situation effectively.
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Presentation Transcript
Your teammate wants a new pair of sneakers but can t afford them right now. What advice would you give her?
You want to go to college, but youre not sure how you ll pay for it. Would you rather take out student loans and attend a four-year out-of-state school or go to a more affordable two-year program at a community college and then transfer?
You have $100 to last you a month. Would you plan to spend $25 a week? Would you budget $3 a day? Or would you spend it all right away?
Your best friend won a $50 cash prize in a school raffle. Should he spend all of it (maybe take you out!), save it, or spend some of it and save the rest?
You have $1,000 to invest in a company s stock. If the stock goes up in value, you ll make money. Which company would you choose and why?
If your club had $100 to donate to a cause, what would you suggest they donate to and why (an animal shelter, an environmental group, cancer research, etc.)?
Your date needs a formal outfit for the prom. They have $50 to spend on it. Would you recommend that they thrift it at secondhand stores or put down $50 on layaway for a new outfit and try to save up for the rest?
Youve decided to buy a new phone. You can pay for it up front or in monthly installments. Which do you prefer? Why did you make that choice?
You just got your first credit card. Are you charging it up to get rewards, making a few purchases and paying them off, or is it gathering dust?
Your classmate maxed out his credit card. He now has a $ 2,500 balance and interest on his charges. To pay it off in three years will cost him $118 a month. What advice would you give him?
Your cousin just got their first credit card. What are some pros and cons about credit cards that you would share with them?
Your friend just got their first job. They don t know where to deposit their paycheck. What would you recommend to them a checking or savings account or both? Why?
You want to buy a used car. Would you rather lease it and pay $300 a month for 72 months ($21,600 over the lifetime of the lease) or buy it outright and pay a little less ($20,000)?
You just graduated and moved to your favorite city. Do you rent a place for $1,500 a month or put $10,000 down on a house and pay a $1,200 monthly mortgage? Why did you make that choice?
When you have spare money, what do you spend it on? Do you treat your friends, buy something for yourself, or save the cash?
You have to make $100 monthly payments on your first car, but you re also trying to save $50 a month for a new laptop. You earn $200 every two weeks from your after-school job and have to buy yourself dinner after work. How can you make sure you don t run out of money?
Would you lend a friend $50? How about $20? Why or why not? Does the amount change your answer?
If you had $10 to spend on dinner, would you buy something at the grocery store or splurge on a burger and fries at your favorite restaurant?
How can you and your friends save money on getting to your shared after-school job? Is it less expensive to carpool (share gas money), take public transportation (bus), or walk? What would save the most money?
If your neighbors with young kids needed money to buy food or household supplies, where could they go for help? Can you think of three places that offer assistance to people who need it?
