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Why Not Save?

Lesson 13. Why Not Save?. Slide 13.1. Lesson 13 – Why Not Save?. Why Don’t People Save When They Know They Should?. Slide 13.2. Lesson 13 – Why Not Save?. Costs and Benefits. Costs are all the things that have to be given up when a choice is made. Costs are negative.

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Why Not Save?

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  1. Lesson 13 Why Not Save?

  2. Slide 13.1 Lesson 13 – Why Not Save? Why Don’t People Save When TheyKnow They Should?

  3. Slide 13.2 Lesson 13 – Why Not Save? Costs and Benefits Costs are all the things that have to be given up when a choice is made. Costs are negative. Benefits are any gains or favorable outcomes that make people more satisfied when a choice is made. Benefits are positive.

  4. Slide 13.3 Lesson 13 – Why Not Save? The Costs and Benefits of Diet and Exercise What are the benefits of eating a healthful diet and exercising regularly? Do these benefits of diet and exercise occur now or in the future? If people choose a healthful diet and exercise regularly, are they guaranteed these benefits? Can they count on them for sure? What are the costs of choosing a healthful diet and exercising regularly?

  5. Slide 13.4 Lesson 13 – Why Not Save? The Costs and Benefits of Saving Saving means setting money aside instead of spending it or using it to pay taxes. What are the benefits of saving? What are the costs of saving? When do the benefits of saving occur? When do the costs of saving occur?

  6. Slide 13.5 Lesson 13 – Why Not Save? People Are Inconsistent Over Time • People are sometimes inconsistent in their plans and their actions. • They promise themselves to eat less; but when the time comes to have a snack, they eat it. • They promise themselves to exercise; but when the time comes to go running or biking or head to the gym, they choose to do something else. • Spending may provide instant gratification; it often enables people to have what they want now. • Saving is like passing up a snack or going to the gym. It requires sacrifice in the present for a reward in the future.

  7. Slide 13.6 Lesson 13 – Why Not Save? Goals for Saving People who save usually have savings goals. These are aims or desired results that people hope to achieve. Short-term savings goals are those that can be achieved in one year or less. Medium-term savings goals are those that can be achieved in one-to-five years. Long-term savings goals require more than five years to achieve.

  8. Slide 13.7 Lesson 13 – Why Not Save? Types of Savings Goals?

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