Module 1: Goal setting - having a financial plan

Learning Outcomes

Students should be able to:

  • identify their personal goals
  • identify the relationship between personal values and financial goals
  • develop an awareness of the life cycle and its effects on a personal financial plan
  • recognise that creating a financial plan involves the management of money to achieve goals
  • understand that financial decisions made today have an opportunity cost that will impact on the future

Enduring Understandings

  • Every personal and financial decision you make today affects the options you will have tomorrow.
  • Goals in your financial plan should reflect your values.
  • Each financial plan should include short, medium and long term goals which specify what you want to achieve and how.
  • The power to control your financial success is in your own hands.

Power Words

Budget
Choice
Finance
Goals
Motivate
Needs
Opportunity cost
Option
Profile
Financial Plan
Financial Position
Priority
Resources
SMART goals
Socio-economic
Strategy
Sustainable
Values
Wants

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All topics
Module Overview & Curriculum Mapping
Identifying financial values
Setting personal goals
Opportunity Cost
Life cycle approach to making financial decisions
Making a financial plan
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