CLASS JOURNAL Level 2 - Session 5 FINANCE EDUCATION FOR KIDS OF AGE 8 - 15 CREATED BY IIM CALCUTTA ALUMNI
Self Control Instant Gratification (IG) What’s IG? IG is desire to have something without any further delay IG means saying... I want it all... and I want it now! IG is choosing something less now over something much more later Eating candy counts as instant gratification! Everyone loves candy, and in the short term, candy tastes delicious! However, in the long term, it's actually bad for your health in a lot of ways. Delayed Gratification (DG) Delayed gratification is the ability to postpone an immediate gain in favor of later, but greater reward. DG involves being okay with waiting a little for something you’d like to have, so that you can get much more of it later than you would have right now. Introduction to Budgeting What’s Budgeting ? A Budget is a plan to save or spend your money. Creating a budget helps you plan what to do with your money.
The purpose of each jar: Save Jar: ● Purpose: Save Jar is for saving money for cool things later. ● Explanation: Put money here to buy special toys, games, or trips in the future. It's like a treasure chest for your dreams. Spend Jar: ● Purpose: Spend Jar is for spending money on fun stuff now. ● Explanation: Money in this jar is for buying toys, treats, or anything you want today. It's like your spending magic jar. Share Jar: ● Purpose: Share Jar is for helping others and doing good things. ● Explanation: This jar is for giving money to people who need it or supporting good causes. It's like your kindness jar.
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