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| :[[ Launch: Managing a Tight Budget ]] | | :[[ Launch: Managing a Tight Budget ]] |
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| Set up a role-playing activity where students simulate managing a household budget. Provide each group with a fixed monthly income and a list of necessary expenses (e.g., rent, groceries, utilities). Include unexpected costs like car repairs or medical bills, forcing students to prioritize and make trade-offs.
| | :[[ Launch: Paying Off Large Debts ]] |
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| Socratic Questions:
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| What strategies did you use to decide which expenses were most important?
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| How does having limited resources affect your decision-making?
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| What skills or habits could help you manage financial constraints more effectively?
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| [[ Challenge: “Balancing the Budget” ]]
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| =Paying Off Large Debts=
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| Launch:
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| Present students with a fictional scenario: They owe $10,000 in student loans with varying interest rates and monthly payment options. They must create a repayment plan, considering how to minimize interest and pay off the debt efficiently.
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| Socratic Questions:
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| What factors did you consider when choosing your repayment strategy?
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| How does interest affect the total amount you pay over time?
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| What are the benefits and challenges of paying off debts quickly versus slowly?
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| [[ Challenge: “The Debt Payoff Challenge” ]]
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| =Making Significant Financial Decisions= | | =Making Significant Financial Decisions= |
