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Saving for unexpected events

Updated

Students brainstorm unexpected events that may cost money and then analyze emergency scenarios to better understand the importance of having an emergency savings fund.

Big idea

Planning ahead for unexpected events makes it easier to face financial challenges.

Essential questions

  • How can I prepare myself financially for unexpected events?
  • How can I start to build an emergency savings fund? 

Objectives

  • Identify types of unexpected events that cost money
  • Understand how to create a budget or savings plan to set aside money for unexpected events

What students will do

  • Brainstorm unexpected events that cost money.
  • Analyze two budgets and determine whether there’s enough money saved to cover the unplanned need.