Teachers' Domain is moving soon to its new and improved home — PBS LearningMedia!          Learn More

Bank It or Bust

Resource for Grades 7-12
| Citation

Bank It or Bust

Media Type:
Interactive

Running Time:
Size: 132.0 KB


  • SAVE TO FOLDER
  • Share |

Source: What's Up in Finance?: "Bank It or Bust"

Learn more about What's Up in Finance?

Resource Produced by:

WNET

Collection Developed by:

WNET

Collection Credits

Collection Funded by:

Citi Foundation

Related Resources:

See Also:

National K -12 Subject:

Lesson Plans Using this Resource:


The goal of this game is to budget expenses with the aim of saving for a short-term purchase (a car), and to see the results of saving over a long-term for a larger purchase (a home). Players assume the role of a teen working a full-time retail job for the summer. Players develop a weekly budget of expenses, modifying their behavior so as to create savings. Then, players move through the ten weeks of summer vacation, with each week presenting an opportunity for savings or spending.

open Discussion Questions

1. What is the purpose of a budget?

2. Discuss how savings can be accumulated using a budget.

3. How can setting goals help with saving?

4. Talk about why it might be important to delay purchases to save money for the future.

Printer Friendly Version of Discussion Questions Print Discussion Questions

open Teaching Tips

  • Before playing the game, have a short discussion on budgeting, explaining how savings results when income exceeds expenses.
  • Discuss wants vs. needs, and why some things have to be paid for (like food and shelter) whereas some things are optional (like entertainment and eating out). Also discuss immediate gratification versus delayed gratification, and how passing up buying small things in the present can translate into accumulated savings for larger financial goals in the future.
  • Explain to the students that they will be playing the “Bank It or Bust” game two times in order to see the difference between buying anything they want, versus spending more carefully to save for the future.
  • The first time the students play, ask them to answer the questions in terms of their “wants” to get a sense of their general spending inclination and habits. Ask students to record their savings after they play the game the first time.
  • Next, ask students to attempt to save money to buy a car, and not spend money on anything they want. Ask students to record their savings after they play the game a second time. Afterward, ask students to compare the results of the savings in the two times played to get a sense of how different spending habits can impact saving for future goals.
Printer Friendly Version of Teaching Tips Print Teaching Tips

open Standards

 
to:

Loading Content Loading Standards

open Comments and Reviews

Not yet reviewed.