Teachers can use this resource to debate as a class or have the students reflect and answer on their own. It works well to divide the class into four groups and assign the students a topic (for or against). They may not agree with the topic they have been given, but that's the importance of debate- to allow a person to see both sides and why someone would support an argument different than your own.

FL10.1 Explore how value systems, social factors, personal experiences and cultural backgrounds can influence financial decision making.  How can we understand how to manage our money if we don’t first understand what it is that we want money to help us do? You may be surprised to know that “stuff” is not something that most people value and what you spend your money on may not matter as much as you first thought. 

Determining your Scores Your scores will help you identify your money personality profile. The higher the number for each profile, the more this tendency may motivate your money behavior. It’s okay to be high in several profile areas. It just shows that your financial decisions are based on a variety of motivators or beliefs. 

There are a number of different influential factors in our lives that impact our financial decisions. . By understanding some of these factors (personality and emotions, past life experiences, physical and mental health, culture and society where you live, financial knowledge), you can learn a little bit more about yourself so that you are equipped to make better financial decisions. Students will answer the question: What are some of the ways these factors have influenced your financial decisions?

Read each scenario below and find two “opportunity costs” for each situation. What was given up, financially, time spent doing something else, other lost experiences, etc.?

This activity allows students to have important financial discussions with an adult in their life to learn from their experiences, and advice to help them apply to their own financial future. Examining the impact of value systems, cultural perspectives, social influences and personal experiences all shape our attitude and beliefs about financial decisisons. Available in English and French.

Students will be able to reflect on a variety of personal values and how these values can influence their financial decisions. Students can also use the "MOVE" activity to explore thier own beliefs and alignments with certain "money value statements". This activity can also demonstrate how values differ from person to person. 

Money management is an essential life skill, but there’s no one-size-fits-all approach to this. We may all lean towards achieving the same results, but the path to getting there varies from one culture to another. It’s interesting to see how each country and their respective culture’s relationship with money is as distinctive as those cultures themselves.

A sample of 1,014 parents of 8 to 14 year olds nationally and their kids, analyzed parent attitudes and behaviors that were associated with kids' financial habits. The survey found that positive money behaviors and expectations among kids are often associated with parents' decision to let their kids decide how to save and spend their money on their own. as well as modeling good financial habits. Conversely, troubling financial habits among kids were more frequently seen when parents have a troubling history with money. 

Ever wondered why we act the way we do and make the choices we make? Abraham Maslow, an American psychologist believed that our actions and hidden desires are driven by a series of needs, which he organized into a pyramid. According to Maslow, our most basic needs, like food, air, and water, are the ones we need for our basic survival. So, our primary motivation is to meet these survival needs first. It does not matter how much money you have or how fancy your house is if your hungry and homeless. Once we have these fundamental needs covered, that’s when we can start focusing on our “higher order” needs.

FL10.1 Explore how value systems, social factors, personal experiences and cultural backgrounds can influence financial decision making.  Whether we realize it or not, we use money everyday! However, we’re not always aware of how we use our money or why we make the financial decisions we do. People decide how to use their money based on their personal values, or what they judge to be important in their lives. Take some time now to identify what your students value!  Students can discuss their personal financial decision-making process, identify their money personality based on personal behavior and choices and analyze financial decisions and the influence of personal/external factors.