- Understand the steps in the decision-making process
- Once you have read the article “Where it all begins” in the previous Financial Planning assignment, complete the following:
- As stated in the article “Where it all begins”, opportunity cost is the item that you cannot buy because you bought something else. To put this into practice, you are going to comparison shop for cars.
- The six steps to making a decision (Identify Your Goal, Establish Your Criteria, Examine Your Options, Weigh the Pros and Cons, Make Your Decision, Evaluate Results) are also presented in the article “Where it all begins.” To help you put those steps into practice, we are going to assume you want to buy a new car. With that being your focus for your decision, make a copy of this Google Document (Espanol), rename it My Decision-(Your Initials), move it into your Lesson 2 folder, and complete each decision step as you work through the remaining portions of this assignment.
- Prepare a new Google Document titled Car Shopping-(your initials) and prepare a 9 x 6 table that looks like this and in your My Decision document provides specific details about the decision-making steps with buying a car. You will need to compare FIVE NEW vehicles of your choosing.
- After completing the assigned tasks in Lesson 2 above, share your Lesson 2 folder with your teacher. Your folder should contain the following files:
- Financial Planning
- Cash Flow Statement Analysis
- My SMART Goals
- My Spending
- My Decision
- Car Shopping
Lesson 2 Quiz-BUU
- Complete the Lesson 2 Quiz for the Budget Unit.