Budgeting · Lesson Plan
Making Spending Decisions: The DECIDE Model
A lesson on making deliberate spending choices using the DECIDE model — Define your goal, Establish your choices, Consider the options, Identify pros and cons, Decide, and Evaluate. Students apply the model to a real major purchase they’re considering.
For Teachers
Lesson at a glance
- Topic
- Budgeting
- Grade Level
- Grades 7–12
- Resource Type
- Lesson + Worksheet
- Estimated Time
- 20–30 minutes
- Format
- Reading + worksheet
- Materials
- Printable lesson, worksheet, whiteboard
What Students Learn
Learning objectives
- Understand what influences spending decisions
- Learn and apply the six DECIDE steps
- Identify sensible vs. unwise spending
- Prioritize spending decisions against personal values
- Identify ways to improve their spending behavior
Materials
What you’ll need
- Printed copies of the worksheet (one per student)
- Pencils
- Whiteboard or projector for the DECIDE steps
Key Terms
Vocabulary
- DECIDE model
- A six-step decision process: Define, Establish, Consider, Identify, Decide, Evaluate.
- Trade-off
- Giving up one thing to gain another.
- Criteria
- The standards you use to compare choices.
- Pros and cons
- The advantages and disadvantages of an option.
- Values
- What matters most to you, which should guide decisions.
- Evaluate
- Review the results of a decision afterward.
For Teachers
Lesson plan
Estimated time: one 20–30 minute class period.
Lesson sequence
- Introduction (5 min). Discuss why spending decisions are hard and usually involve trade-offs.
- Teach the model (8 min). Walk through the six DECIDE steps on the board with a quick example.
- Worksheet (12 min). Students apply DECIDE to a real upcoming purchase decision (personal or family).
- Wrap-up (3 min). Volunteers share how the model changed their thinking.
Assessment
Assess the completed DECIDE worksheet for thoughtful use of each step.
Discussion
Discussion questions
- What does each letter of the DECIDE model stand for?
- Why is it useful to define your goal before deciding?
- How do your personal values fit into a spending decision?
- Why is the final ‘Evaluate’ step important?
- How could the DECIDE model help with a big family purchase?
Printable Lesson & Worksheet
Making Spending Decisions — Lesson & Worksheet
Printable lesson plus a student worksheet to complete.
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