GEEM - Teaching and Learning

F1.4 Identify various societal and personal factors that may influence financial decision making, and describe the effects that each might have.

Activity 1: Do I Buy or Not?

Present the following scenario to students:

Stella wants to buy a new pair of sneakers. What societal, personal, family and cultural factors might influence her decision making regarding her purchase choice?

Activity 2: Describe the Impact of Various Social and Personal Factors

Present the following scenario and table to the students:

Antoine is considering whether or not he should buy a mountain bike. Here is a list of personal, family, societal and cultural factors that could influence his decision.

Personal Factors	Family Factors	Social Factors	Cultural Factors
I have savings that I can use to buy my mountain bike. I could improve my physical condition. I would spend more time outside rather than on my electronic devices.	My father rides a mountain bike. My parents are separated which means that it will be difficult for me to ride my mountain bike every other weekend. My parents can contribute to my purchase. I can ask my family members to give me money on my next birthday so I can buy my mountain bike.	Many of my friends are mountain bikers. I could expand my circle of friends by meeting new people. I could participate in several competitions in the region. I know companies that could sponsor me in my competitions.	Mountain biking groups exist on social networks. Several teams in the region are like-minded.

Source : adapted and translated from En avant, les maths!, 7^e année, CM, Littératie financière, p. 4.

Ask students the following question:

What factors might influence Antoine's decision to buy a mountain bike? What would you do in his place?

Invite students to classify the above factors as positive or negative to justify their responses.