Exchange Rate

Consider the total costs and tradeoffs of our everyday spending decisions.

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Intention

25 minutes

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Money Mindset Steps

1.

List everything you bought in the last three days. Maybe that includes coffee, lunch out, groceries, new household item, a game, a pair of jeans, or movie tickets.

2.

Draw a simple icon to represent each purchase. For example, a ticket stub for each movie ticket. Write the cost for each item.

3.

Pick two categories. For example, coffee and movie tickets. Now calculate the exchange rate — approximately how many coffees does it cost to buy 1 movie ticket? Draw the number of coffee icons it takes to buy 1 movie ticket.

4.

Pick two more categories. For example, lunch out and a new kitchen appliance. How many lunches does it cost to buy your new kitchen appliance? Draw the number of lunch icons it takes to buy 1 kitchen appliance. (Use the coaching questions to facilitate more discussion.)

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Coaching Questions:

  • What was the most surprising exchange rate you found? Why?
  • What is similar or different about your exchange rates and others in the room?
  • How does this experience change the way you think about spending money?
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Helpful Hints:

  • This activity is to help us consider what purchases we might trade for other things we want.

  • It doesn’t mean you have to give up any of these things, just consider what is the most important to you.