In this personal finance activity, students will consider the costs of saving to make a purchase.
This is an individual activity where students research the price of a new phone or tablet and establishing a savings plan to purchase it. Owning a new cell phone or tablet is often a high priority for teens and young adults. However, few really understand the cost of purchasing one because parents will generally pay for it. The parent bears the costs, and the young person gets the benefits. This activity changes the rules, requiring you – the teen or young adult – to bear the cost. To complete this activity, students need to follow the instructions below:
Search online for a phone or tablet you would like to purchase.