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"The Time Value of Money." Teachers' Domain. 4 Nov. 2011. Web. 25 May. 2013. <http://www.teachersdomain.org/resource/fin10.socst.personfin.timevalu/>.

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The Time Value of Money

Resource for Grades 9-12

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Running Time: 14m 20s
Size: 80.4 MB

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Understanding saving, investments and retirement can sometimes be a challenge to young people when their immediate needs and wants easily outweigh long-term financial planning. Riza Laudin, an economics teacher at Herricks High School in Long Island, New York, helps students make personal connections to the benefits of saving early through a lesson on the time value of money. In this lesson, Ana begins saving at age 22 for twelve years, while Shawn saves from ages 34 to 65. Students are challenged to predict who was the better saver. Understanding and applying the principles of compound interest, students learn a new strategy for saving and begin to contemplate their own financial futures.

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Resource Guide: The Time Value of Money (Document)

Discussion Questions

What do you think of the strategy employed in this lesson of using two differing financial planning scenarios and projecting the outcomes for each? Is this a strategy you can use? How might you tailor it to your students?
In teaching the concept of compound interest, think about how and when you would introduce the concept of “opportunity costs.” What real-world applications might you use?
Evaluate the additional strategy Riza Laudin uses in her classroom of having students critically read financial news articles and then identify the economic principle addressed in the article. How would you apply a similar strategy in your classroom?

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