TOPIC:

The Importance of Money

RESOURCES NEEDED:

A copy of a chosen movie dealing with the role of money

LEARNING OPPORTUNITY:

As teens enter their adult years, money and the role it plays in one’s life are going to become major factors in determining how happy and content that person is. Financial skills will be very important in ensuring that monetary matters do not become a burden and all-encompassing in one’s life. For this reason, it is important to establish a clear understanding of the importance of money and the degree to which it contributes to a happy existence. By watching a movie concerning money and the role it plays, and subsequently discussing the film, there is an opportunity to clarify this role and help young adults consider the focus they want to place on what will bring them happiness.

THE ACTIVITY:

• Prior to the activity with your son or daughter choose a film that deals with the role of money and be prepared to view that film with them.
• If you are uncertain of a film you might consult websites such as:
  http://www.wisebread.com/25-great-movies-about-money
  http://www.accountingdegree.com/blog/2011/the-20-best-movies-about-money/
• Once you have selected a movie (or better still, have chosen a movie in consultation with your daughter or son) arrange for a time when the two of you can watch the movie together.
• Having viewed the film, engage in a discussion with your son or daughter about the role that money plays in people’s lives and what it says about their values and attitudes towards life.
• Conclude the discussion by having you and your son or daughter explain what money means to each of you and how you reflect that attitude in the ways in which you handle your money.
• Ensure that your son or daughter understand the importance of using money wisely so that they can accomplish their goals.

FOLLOW-UP IDEAS:

• You might engage your son or daughter in a discussion about things they could do to ensure that money plays a role into what they want – e.g. developing a budget, paying themselves first, controlling spending, knowing the difference between needs and wants.

WEBSITES:

• International Monetary Fund – What is money?
  http://www.imf.org/external/pubs/ft/fandd/2012/09/basics.htm
• The Philippine Star – What is the role of money?
  http://www.philstar.com/health-and-family/2015/03/04/1429753/what-role-money-your-life