Risky Business: What Every Teenager Needs to Know About Living Smart - Lesson Details

Activity 2.3 - Don't Let Your Fortune Go Up in Smoke

Students study the choice to smoke as an example of a health decision that also has financial implications. They examine a table showing ho money saved by not smoking can, over time, result in substantial savings. They learn that small savings of any sort can result in substantial benefits. Starting to save early -- in order to get the advantages of compounding -- is the key.

Concepts:

Compounding, Costs and benefits, Trade-offs
National Content Standards in Economics:
  • Standard #1: Scarcity
  • Standard #2: Decision Making


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