This document provides an activity to teach financial literacy to students. The activity involves having students list purchases their family made in the last month. They then categorize the items as vices, wants, or needs using three colors. Finally, the students discuss ways the list of purchases could be reduced and the important conclusion to think twice before spending. The activity is meant to help students learn to distinguish between vices, wants, and needs and how to better manage finances.
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Simple activity to teach financial literacy at school
2. Team work
1. Ask pupils:
What did you and your parents buy last month?
2. As a team they brainstorm and write down the articles to
a document
3. Explain the next slide
3. Tips for a smooth financial life
VICES
Vices are risky
Avoid
WANTS NEEDS
Wants are unlimited
Reduce
Needs are limited
Spend
Think twice before spending
4. Team work
After explaining the previous slide, ask pupils to decide whether the articles written in
the document are vices, wants or needs
They can use 3 colors to mark each article
Present and discuss the possible disagreements (needs versus wants...)
Important conclusion: Think twice before spending!
Discuss the possible changes in the list of the articles, how could it be reduced...
