Class Discussion, Class Assignment, and Video: Making Your Financial Resolution Work

Teaching Tip:  This assignment works equally well as a written assignment and as a class discussion.  If used as a class discussion, it works well to show the video “Keeping Your Financial Resolutions” which is just over 3 minutes long, then opening up the class to things they feel would make good resolution items and list them on the board.  By sharing them, some students may find items that they had not thought of that they might want to control over the coming year.

As we learned in Principle 2: Nothing Happens Without a Plan, and the first step in a plan is coming up with a set of goals – that’s really what financial resolutions are.  They are goals that you might have trouble reaching – and the purpose of the “resolution” is to add a bit of disciple to achieving those goals.  Reuters has a nice video that gives some tips on how to make your financial resolutions stick titled “Keeping Your Financial Resolutions.”  And if you can make them stick, your that much closer to achieving your financial goals.  In addition, the Bank of America has an article on “New Year’s Financial Resolutions” that not only highlights how to make them work, but also suggests three financial resolutions to consider.

Even those these articles focus on New Year’s Resolutions, you should keep in mind, that financial resolutions can be made at times other than the beginning of the new year – for example, they can be made at the beginning of a term or any time.  And they’re a great way of making financial progress.

Class Discussion:

  1. Watch the video “Keeping Your Financial Resolutions,” and come up with one financial resolution for the following year that you feel is reachable.  Also, read the short article Bank of America article “New Year’s Financial Resolutions.”  What measures would you take to help achieve this resolution?  Be prepared to share this with your class.

Alternatively:

  1. Watch the video “Keeping Your Financial Resolutions,” and come up with three financial resolutions for the following year that you feel are reachable.  Also, read the short article Bank of America article “New Year’s Financial Resolutions.”  What measures would you take to help achieve this resolution?  Write a short paper responding to this assignment.
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