DISCUSSION:
Discuss these questions with your classmates or with a partner.

1. 1. Brainstorm FIVE reasons it is sometimes difficult to save money.

ARTICLE:
Five Reasons We Impulse Buy
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.

1. 1. Which reasons that people impulse shop apply to you?

   2. Describe an example of a time when you experienced one of these shopping impulses

   3. Name three strategies you could use to fight the urge to impulse buy.

ARTICLE & REFERENCE POINT:
Is Social Media Ruining Your Finances? + Keeping Up with the Joneses
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. 

1. 1. In what ways can social media motivate people to spend more money? 

   2. “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?

   3. How does “FOMO” impact one’s ability to save money for short- or long-term goals?

VIDEO:
Living Paycheck to Paycheck

Watch this video and explain what causes people to live paycheck to paycheck, without having money leftover to save.

VIDEO:
3 Things You Need to Know About an Emergency Fund

One of your first saving goals should be establishing an emergency fund. As you watch this video, answer these questions. 

1. Why do you think they recommend saving 3-6 months of expenses in your emergency fund?

2. Why shouldn’t you keep your emergency fund money in your checking account? 

3. Which of these is a good reason to tap into your emergency fund -- pay your cell phone bill, buy books for college, pay $500 deductible after a car accident? Why?

VIDEO:
Planning for Retirement in Your 20s

It is never too early to start saving (or, even better, investing) for your retirement. As you watch this video, answer these questions:

1. How would living as cheaply as possible help you save for retirement?

2. Why does the speaker recommend prioritizing investing for retirement over paying off Federal student loans? 

3. Does it surprise you the speaker recommends putting 80-100% of your retirement savings in investments? Why or why not? 

ARTICLE:
Why Your Kid Needs a Roth IRA

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: 

1. Would YOU be eligible to open a Roth IRA this year? Why or why not? 

2. Name two reasons why putting extra money from a part-time job into a Roth IRA might be MORE beneficial than putting it into a savings account.

DATA CRUNCH:
Investing for Retirement

Retiring on Social Security income alone is extremely difficult, which is why people must invest for their retirement. Analyze the three graphs provided to learn more about investing for retirement.

1. Would YOU be eligible to open a Roth IRA this year? Why or why not? 

2. Name two reasons why putting extra money from a part-time job into a Roth IRA might be MORE beneficial than putting it into a savings account.

PROJECT:
Create Your Savings Goals

Follow the directions on the worksheet to complete Parts I and II of this activity.

ARTICLE:
Is Your Piggy Bank a Source of Happiness? 

Read this brief article about the effects of saving on happiness, then answer the following question:

1. Given what you’ve learned in this lesson overall, why do you think higher rates of saving equate to greater happiness?