On Wednesday Mr. Shpaner came in for our second personal finance lesson. Below is a recap of the lesson written by Mr. Shpaner. Thank you Mr. Shpaner and we are excited for another lesson this week!
Today’s personal finance unit built on recapping the “money in, money out” theme of the first unit to focus on two kinds of spending: buying and renting. The students compared renting to buying and to borrowing, finding that it shared some similarities and differences with both. (For example, both a bike borrowed from a friend on a playground and a rental car needed to be returned, but not a car that was bought. However, an owner of that borrowed bike may ask for it back at any time, while with respect to a rental, both the renter and the owner must follow rules.) The class offered great examples of other items that can be rented, from sporting equipment, to an RV, to a home. Finally, the students went through a hypothetical decision-making process between buying and renting a kayak by comparing costs based on their kayaking plans and other factors, such as whether or not they had a roof rack to carry it.
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