Often, achieving a long-term goal requires reach- ing a set of short-term goals For example, in order to buy a $960 mountain bike in four years, Miranda needs to
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Often, achieving a long-term goal requires reach- ing a set of short-term goals For example, in order to buy a $960 mountain bike in four years, Miranda needs to
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(in those cases, the responsible person is indicated in brackets) goals The long-term goals should be seen as guidelines for the continuous work at the
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FINANCIAL FITNESS FOR LIFE: Teacher Guide Grades
6-8http://fffl.councilforeconed.org/6-8©Council for Economic EducationShort-term goals can be achieved
in fewer than two months.Medium-term goals may take from t wo 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, andLong-term GoalsTHEME 4| Lesson 10: Why Save?
VISUAL
10.1 96FINANCIAL FITNESS FOR LIFE: Teacher Guide Grades 6-8 http://fffl.councilforeconed.org/6-8©Council for Economic Education
VISUAL
10.2THEME 4| Lesson 10: Why Save?
What Is the Relationship Between
Long-term and Short-term Goals?
There is a relationship between long-term goals and short- term goals. Often, achieving a long-term goal requires reach- ing a set of short-term goals. For example, in order to buy a $960 mountain bike in four years, Miranda needs to save $240 in each of the next four years, or $20 each month. The short-term savings target amounts to less than $1 per day. Breaking long-term goals into medium- and short-term goals helps to make them seem achievable. 97FINANCIAL FITNESS FOR LIFE: Teacher Guide Grades 6-8 http://fffl.councilforeconed.org/6-8©Council for Economic Education