Financial Decision Making Teacher Guide

Our handy Money Smarts Challenge guides focus on the 6 pillars of Financial Wellbeing.
Designed to prepare your students for the Money Smarts Challenge Regional Finals,
this guide provides everything you need to know about Financial Decision Making.

Lesson Plan

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Sample Quiz

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Topic Summary

Before you get in to the detail of the short presentation that’s included as part of the Lesson Plan on this topic, here’s a quick overview of what you can expect.


Financial Decision Making

This is the sixth of six pillars of Financial Wellbeing. The following information discusses the concept of personal financial planning, which we sometimes refer to as Financial Decision Making. The content is designed to give you a flavour of what you can expect your students to be quizzed on as part of the Money Smarts Challenge.

In order to make sound financial decisions in life, one must integrate various aspects of each pillar as they arise or are required. For example, where one is considering using some of their income to invest for the future, they will need to factor in net income along with spending habits as well as risks associated with certain forms of investing. This crucial pillar has been specially crafted to help students make sound personal financial decisions in life.



Needs and WantsGoal Setting and Budgeting
Students will learn to evaluate and prioritise.Students will learn to formulate, construct and manage a goal setting plan and how to use a personal budget planner.

Register for the Money Smarts Secondary School Programme

The Money Smarts Challenge is just one part of our much wider Money Smarts Secondary School Programme. Register your school today and you’ll unlock more great Financial Literacy content, practical workshops and the option for your students to set up and manage their very own virtual School Bank.

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