Ch. 3 Budgeting
Budgeting with Beans Game Interview peers about budgeting Students will interview 3-4 students they will have access to in one week. Videoing and asking each student
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Banking Review. Video 2.1 from DVD series.
Workbook pages 55-60 Take Ch. 2 test
Complete case studies on separate sheet of paper 1. Shannon is a senior in high school and works part time at a local restaurant. She makes good tips and always has spending money. Her parents will be paying for her college and her car is already paid for. She knows you are taking a personal finance class and asks you what she could be doing better with her money. What do you tell her? Monday, Sep. 21, 20159/20/2015 0 Comments Ch. 2 test Complete case studies see Below: 1. Shannon is a senior in high school and works part time at a local restaurant. She makes good tips and always has spending money. Her parents will be paying for her college and her car is already paid for. She knows you are taking a personal finance class and asks you what she could be doing better with her money. What do you tell her? 2. Melissa is about to get a $200-per-month raise. She wants a new television and some furniture. She has $500 in her savings account and figures with her raise she will have the cash to make her purchases easily within a few months. She also has $1,000 in available credit remaining on her credit card and is thinking about using it to buy everything now rather than waiting until she has the money. What would you tell Melissa? Justify your answer. 3. Jeremy graduated from college two years ago with a degree in communications. He has a good job as a communications specialist making $50,000 a year. Because he took a basic financial class during his sophomore year of college, he understands the importance of creating a plan for his money. So he made it a priority to start saving, and he currently has a savings account of $5,000 built up. He’s motivated to continue putting away money for the future. However, hehas $6,500 in school loans left to pay. He’s already paid off $8,500 since finishing college. Just like with his savings, he’s being aggressive and paying more than the minimum payments each month. Jeremy plans to be debt-free in 15 months. What advice do you have for Jeremy? 4. Latisha works as a graphic designer and just got a raise of $100 each month. She wants to buy a new television and furniture and thinks this raise is enough to pay for those purchases. Tired of her hand-me-down furniture from her parents and her 10-year-old television that she got from a garage sale, she plans to use her credit card to buy the new things. Currently, she has $500 in her savings account,Monday, Sep. 21, 20159/20/2015 0 Comments Ch. 2 test Complete case studies see Below: 1. Shannon is a senior in high school and works part time at a local restaurant. She makes good tips and always has spending money. Her parents will be paying for her college and her car is already paid for. She knows you are taking a personal finance class and asks you what she could be doing better with her money. What do you tell her? 2. Melissa is about to get a $200-per-month raise. She wants a new television and some furniture. She has $500 in her savings account and figures with her raise she will have the cash to make her purchases easily within a few months. She also has $1,000 in available credit remaining on her credit card and is thinking about using it to buy everything now rather than waiting until she has the money. What would you tell Melissa? Justify your answer. 3. Jeremy graduated from college two years ago with a degree in communications. He has a good job as a communications specialist making $50,000 a year. Because he took a basic financial class during his sophomore year of college, he understands the importance of creating a plan for his money. So he made it a priority to start saving, and he currently has a savings account of $5,000 built up. He’s motivated to continue putting away money for the future. However, he has $6,500 in school loans left to pay. He’s already paid off $8,500 since finishing college. Just like with his savings, he’s being aggressive and paying more than the minimum payments each month. Jeremy plans to be debt-free in 15 months. What advice do you have for Jeremy? 4. Latisha works as a graphic designer and just got a raise of $100 each month. She wants to buy a new television and furniture and thinks this raise is enough to pay for those purchases. Tired of her hand-me-down furniture from her parents and her 10-year-old television that she got from a garage sale, she plans to use her credit card to buy the new things. Currently, she has $500 in her savings account, and she figures that with her raise she can easily do payment plans toward the television and furniture. To make the situation even more tempting, her credit limit still has $1,000 before it is maxed out. She plans to use the card toward the purchases so she can buy everything now. What advice would you give Latisha?5. Alex is a high school sophomore who recently learned about the importance of having an emergency fund in her personal finance class. She doesn’t have a regular job yet because her soccer schedule and school assignments take up most of her time. She would like to start saving up an emergency fund and money for her summer soccer camp. How can Alex earn money without having a regular part-time job? How much will you retire with? Follow the link to do the math- http://www.foundationsu.com/high-school/tools#/entry_form
Assignment Present Value of Money Money in Review and Chapter Summary as review for Ch. 2 test Tues. Warm Up- Read the following article: http://www.foundationsu.com/high-school/article_categories/Saving/articles/foundationsu-millionaire-myth-busters What are the myths of a millionaire? Video Sec. 3 The Power of Compound Interest cont. How to calculate compound interest Activity- Saving a Way to Build Wealth Test next Tuesday Reading: Read pg. 33 and create a cause and effect chart together in class identifying cause and effect as it relates to Americans' saving habits.
Answer the following: 1. Explain what is wrong in this cause/effect relationship in American's money saving behavior. 2. What SHOULD be the cause of one's money saving habits? Create a poster of the Five Foundations. Each poster should inc. a picture representing each of the five foundations and a label for each drawing/picture stating which of the 5 foundations is represented and a brief description of how students plan to follow through with each step. They should be creative! use Pages or actual poster paper found in the back cabinet Warm Up: Think of a way you have saved money or could save money.
Read top of pg. 36 then watch video 2.2 Complete Sinking Fund Savings Activity. Due in class Reading: Read pg. 33 and create a cause and effect chart together in class identifying cause and effect as it relates to Americans' saving habits. Answer the following: 1. Explain what is wrong in this cause/effect relationship in American's money saving behavior. 2. What SHOULD be the cause of one's money saving habits? Create a poster of the Five Foundations. Each poster should inc. a picture representing each of the five foundations and a label for each drawing/picture stating which of the 5 foundations is represented and a brief description of how students plan to follow through with each step. Savings-
Review how an Emergency Fund works Brainstorm ways you can save $500 quickly Write your 3 ways down on pg. 34 in your workbook Will you take the $500 Challenge? Reading: Read pg. 33 and create a cause and effect chart together in class identifying cause and effect as it relates to Americans' saving habits. Answer the following: 1. Explain what is wrong in this cause/effect relationship in American's money saving behavior. 2. What SHOULD be the cause of one's money saving habits? |
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