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FINANCIAL FITNESS FOR LIFE: Teacher Guide Grades 6-8

http://fffl.councilforeconed.org/6-8 ©Council for Economic Education

Short-term goals can be achieved in fewer than two months.

Medium-term goals may take from two months to three years

to achieve.

Long-term goals require three or more years to achieve.

Long-term goals may be built upon short-term goals.

Short-term, Medium-term, and

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FINANCIAL FITNESS FOR LIFE: Teacher Guide Grades 6-8

http://fffl.councilforeconed.org/6-8 ©Council for Economic Education

cept any reasonable answer for each month’s opportunity cost.

Examples: January opportunity cost = noisemakers and party hats for New Year’s Party; Febru-

ary opportunity cost = red sweater for Valentine’s Day; June opportunity cost = beverages and

snacks for end-of-the-school-year picnic; July opportunity cost = flags, hot dogs, and apple pie

for July Fourth celebration; September opportunity cost = pens, rulers and notebooks for back-

to-school; October opportunity cost = pumpkins and costume for Halloween party; December

opportunity cost = woolen hat and gloves for ski trip.)

Person Amount to

Be Saved

Amount Saved

Each Month

How Many

Months

How Many

Years

Short- Medium- or

Long-term