The real cost of a performance car
Here, educators will find everything they need to teach a class on financial literacy to high school students. This is one of five Financial Literacy modules, each includes teaching guides and worksheets, they are free to download and ready to use.
SETTING REALISTIC FINANCIAL GOALS
Young people often have limited knowledge of the full financial cost of decisions they make. They can aspire to own items that are well beyond their immediate reach without a long-term plan for achieving their goals. Without a deep understanding of depreciation and interest rates, young people can unknowingly put themselves at financial risk. When students understand the full range of needs their limited resources have to cover they are able to budget for food and accommodation while using a savings plan to buy expensive items.
This module is designed to highlight total initial costs and the on-going costs involved in owning an expensive car. The purpose of the learning activities is to link possible careers and their incomes with required monthly income to provide a plan for students to achieve their goals. The module’s activities involve a variety group of calculations, class discussions and internet based research.
|United Way Australia acknowledges the original author Sue Thomson. This material was created with funding from ING DIRECT.*Not legal or financial advice. The information and materials in this module have been provided by United Way Australia to assist your financial literacy training. It is not and should not be regarded as legal or financial advice.|