Transcript keys to financial success theme 3

Keys to Financial Success
Theme 3 – Money Management
Summarize the unit in a 4-5 sentence paragraph
Create a KWL Chart in your binder (3 columns)
Complete columns 1 and 2 only
Column 1 – What do I KNOW about Money Management
Column 2 – What do I WANT to learn about Money Management
Column 3 – What did I LEARN about the Money Management
Lesson 3.1: Why Should I Have a Budget?
• Objectives
• Students will be able to:
• 1. Allocate their resources and make decisions based on a budget.
• 2. Identify that one’s income has limits and that choices must be made within those
limits.
• Concepts
•
•
•
•
Budgeting
Decision making
Saving
Spending
• Today – introduction to why budgeting is important and how quickly
your income can disappear without planning
REMEMBER…..
YOU ALREADY SELECTED A CAREER CHOICE AND THAT CAREER CHOICE
CAME WITH AN ENTRY-LEVEL INCOME.
NOW THAT YOU HAVE THAT INCOME, YOU ALSO HAVE SOME SAVING
AND SPENDING DECISIONS TO MAKE.
THINK/PAIR/SHARE
• COPY & ANSWER THE FOLLOWING QUESTIONS IN YOUR BINDER
• WHAT IS A BUDGET?
• DO YOU HAVE A BUDGET? WHY OR WHY NOT?
• WHY DO PEOPLE HAVE BUDGETS?
• PARTNER UP AND SHARE YOUR RESPONSES
• BE PREPARED TO SHARE WITH CLASS
The Cosby Show Video Questions
• Copy and answer in binder
• What are Cliff and Theo discussing at the beginning of the video?
• Why are Theo’s parents concerned about his grades?
• What lesson is Cliff trying to teach Theo?
Cosby Video Discussion Questions
• How much money does the “regular” person start out with a month?
• What were some of the categories that were mentioned? How much
money was spent on each?
• How much money was left in the scenario that they act out?
• How realistic do you think Theo was being in the clip?
• How many of you would be willing to live on bologna and cereal?
Cosby Video Discussion Questions
• Do you buy fast food for dinner? If so, how much does that meal usually
cost?
• If you were to eat that meal every day for dinner, how much would you
have spent on dinner along for a month?
• How many of you would and could live on that diet every day?
• Do you think Theo’s “regular” guy can live a rewarding lifestyle on a budget
of $1200 a month?
• Would creating, developing and using a budget help a person manage his
or her income?
• Do you think that budget process is a difficult process? Why or why not?
Why We Need Money Management Skills
• 1.) To provide for and protect
yourself and your family.
• 2.) To plan for the future.
• 3.) To reach your goals.
1. Can you think of any examples
of skills or knowledge you need
to provide and protect your
family?
2. What kinds of plans would
involve personal finance skills?
3. What is a goal? What is the
purpose of a goal?
Goal Setting Survey of Harvard Graduates
• Who has goals?
• What is the difference
between goals and dreams?
• How many of you have
written down your goals?
• Do you think writing down
your goals would make a
difference?
A study was done of Harvard alumni 10 years after they had
graduated.
The survey found that:
 83% had NO specific personal or business goals.
 14% had specific goals but they were NOT written down.
 3% had specific goals that were written down.
PAYOFF:
• Those with goals not written down earned
3 times as much as those with no goals.
• Those who had written their goals down earned
• 10 times as much as those with no goals.
• What surprises you?
• Why do you think
writing your goals down
makes such a
difference?
Roadblocks to financial success
• No Goals
• Ignorance
• Debt
• Poor investments
• Inflation
• Taxes
• Procrastination – the most common!
• What is a roadblock?
• Over which of these roadblocks does
the person have the most control?
• Over which would you have the least
control?
• Which can you address right now has
a high school student?
• Which do you think could cause you
the most trouble?
• How can you remove these
roadblocks?
Set Goals - What do you want out of life?
 1.) Short Term Goals (1-2 years)
Emergency fund
 2.) Medium Term Goals (5 years or less)
Buy a home
 3.) Long Term Goals ( 5 years and longer)
Children’s Education
Retirement
• Set three of each short, medium
and long term goals
• How many of you have
accomplished any of your short
term goals?
• How many of you are taking
steps to achieve your medium
and long term goals?
Building Your Budget
How might a budget
help you achieve your
medium and long term
goals?
1.) Decide what you want to do with your money.
2.) Make Your Plan and stick with it!
Closure – Turn into bin
• Write a brief essay, title “What I Want Out of Life” that addresses the
following –
•
•
•
•
•
In 8-10 years, what goals will I want to have achieved and how will I be living?
What will I have to do to accomplish these goals?
What roadblocks do I think I will have?
How might be able to overcome them?
How can money management help me accomplish them?
Homework
• Think back to what you have spent your money on over the last week.
Complete Handout 3.1.1
• Write a paragraph on the following statement –
• After tracking my spending and saving, I was surprised to learn….
• MUST INCLUDE AT LEAST TWO SPECIFIC EXAMPLES OF WHAT YOU DID WITH
YOUR MONEY AND EXPLAIN WHY YOU MADE THE CHOICES YOU DID.
• STUDY CONCEPTS FROM CLASS
• WORK ON BINDER
Lesson 3.2: Funding My Goals By Planning
• Objectives
• Students will be able to:
•
•
•
•
Examine current spending and savings behaviors and patterns.
Demonstrate the relationship between goals and budgeting.
Analyze trade-offs and opportunity costs related to senior year expenses.
Prioritize how to obtain and allocate their income for senior year expenses.
• Concepts
• Budgeting
• Goals
• Today – Identify and prioritize your personal and financial goals; learn
how to create and use a budget to meet those goals
Step #1 – Analyzing and Comparing Spending
• Get out Handout 3.1.1 – Spending Tracker Analysis Worksheet
• Transfer all of the information from the Spending Tracker Analysis
Worksheet to handout 3.2.1 Personal Spending Diary Analysis
• Get into your groups – Copy and answer the questions into your
binder
•
•
•
•
•
What is the source of most of your income?
What were your top two spending categories?
What were you lowest two spending categories?
How were the group’s categories similar? How were they different?
Why are there differences?
Step #2 – Gallery Walk
• Move to the category on which you spent the most money
• LOOK AROUND AND REMEMBER HOW THE CLASS LOOKS
• Move to the category on which you spent the least money
• What surprises you about spending and saving patterns of the class?
Step #3 – Goal and Action Plan Review
• Get out the Goals and Action plans identified in Theme 1
• Discussion Questions –
• How many of you consider and think about your goals when you are spending
and saving?
• How do your spending and saving patters reflect your goals?
• In what way will your current choices about spending/savings help you reach
their goals?
Step #4 – Senior Year Expenses
• Engage in a process that connects your goals with income and
spending/saving patterns
• What is a budget?
• Why did we do a Spending Tracker as a first step?
• Look at and revisit medium term goals by examining expenses you
will encounter during your senior year
• How much money do you think you will spend during your senior
year?
• In you binder, work with a partner to create a list of expenses that will
occur during your senior year.
• Be prepared to share with class
• Include all ideas from classmates including estimated costs for each item
Step #4 – Senior Year Expenses
• Create a final list of expenses you are expected to make during your
senior year (include purchases made my your parents).
• Total all estimated costs
• Share with class
• Does this number surprise you? Is anyone shocked?
Step #5 – Creating a Senior Year Budget
• Constructing a budget that addresses short, medium and long term
goals during the senior year
• Complete Handout 3.2.2 Constructing My Senior Year Budget
• Use Handout 3.2.3 – Potential Senior Year Variable Expanses as a guide.
• Prioritize the goods and services they expect to purchase during that year
ranking them from most important to least important with the most being
given a “1”
• Use the costs from the ongoing regular expenses recorded on the Personal
Spending Diary Analysis
• For the yearly cost of regular expenses, multiply them by 52
• Place these numbers in the Actual Cost column
• Using the guide on Handout 3.2.3 – enter the items fro the one-tem expenses
that you want. For the actual expense column, choose the amounts you want
• Complete the total spending calculation
• Identify which type of goal (short, medium, long term) each category reflects
Closure – Turn into Bin
• Where will the income (money) for these activities/expenses come
from?
• Do you think that you will be able to do all of these things at no cost
to yourself?
• Will your parents help pay for all of these purchases?
• What would be some of the opportunity costs you will have to face?
• How could you increase your income?
• What strategies could you use to reduce your spending?
• How will a budget keep you on track for your goals?
Homework
• Write two paragraphs (5 sentences each) that address the following –
• Identify 3 priorities that you have for use of your “income”. Explain which of
these senior year expenses that you want could be roadblocks or interfere
with their personal medium and long term goals and priorities? How?
• What adjustments can you make to stay within your income limits for regular
expenses so that you have some savings for the one time senior year
expenses? How could you adjust the one-time expenses themselves?
• STUDY CONCEPTS FROM CLASS
• WORK ON BINDER
Lesson 3.3: Uncle Sam Takes a Bite:
Forms, Forms, Forms
• Objectives
• Students will be able to:
•
•
•
•
Identify key terms such as gross pay, net pay, deductions, and benefits.
Explain the types of benefits provided by employers.
Make distinctions between required and optional deductions.
Compute net pay using payroll deductions and tax tables.
• Concepts
• Gross pay
• Net pay
• Taxes
• Today – introduced to concepts of gross and net pay; compute deductions
and taxes by reading tax tables
Uncle Sam Takes a Bite - NOTES
• They money you earn is not the same as the money you take home.
• What accounts for the difference between pay that is earned and take-home
pay?
• Two main goals –
• Help the students understand how taxes affect net pay
• Introduce strategies people can use to reduce their taxes, enabling them to
bring home the largest paycheck that they are legally entitled to
• 1040EZ or free tax-calculating packages online – used to easily file
federal income taxes
• Young and done have many deductions and exemptions
Uncle Sam Takes a Bite - NOTES
• Imagine….You just agreed to start working at a part-time job (15
hours/week, $10/hour)
• How much will your first paycheck be?
• The amount of money that appears on an employee’s paycheck is not total
amount earned
• Several deductions are taken out……..TAXES!!
• DO NOW –
• Complete Exercise 7.1 (read the exercise and answer the questions)
Exercise 7.1 Discussion Questions
• What is gross pay?
• What is net pay?
• Is the amount of money shown on your paycheck equal to the total
number of hours worked times your rate of pay?
• Name at least three mandatory deductions that are taken out of gross
pay.
• Name three other deductions.
Uncle Sam Takes a Bite - NOTES
• Not all of our income is taxes at the same rate
• Marginal tax rate – highest tax rate at which we are taxed
• Rate at which each additional dollar earned is taxed
• Referred to as “tax bracket”
• DO NOW – Exercise 7.2 – Tax-Saving Strategies
• Look at the table – “What’s Your Bracket?”
• What is the marginal tax rate for someone with a taxable income of $33,000?
• 25%
• REMEMBER – THE MARGINAL TAX RATE APPLIES TO THE LAST DOLLAR
OF EARNINGS.
DO NOW – EXERICE 7.2 TAX-SAVING STRATEGIES
• READ EXERCISE 7.2 AND ASNWER THE QUESTIONS AT THE END
• DISCUSSION QUESTIONS
• WHAT IS MIKE’S MARGINAL TAX RATE?
• 16%
• WHAT DOES THAT MEAN?
• HOW MUCH DOES MIKE SAVE IN TAXES BY PAYING FOR HIS HEALTH
INSURANCE WITH PRE-TAX DOLLARS?
• $270 ($1800 X .15)
• WHAT IS MIKE’S TAXABLE INCOME?
• $18,250
• HOW MUCH DOES MIKE SAVE IN TAXES BY USING PRE-TAX DOLLARS TO SAVE
FOR RETIREMENT AND PAY FOR HIS HEALTH INSURANCE?
• $420
DO NOW – EXERICE 7.2 TAX-SAVING STRATEGIES
• DISCUSSION QUESTIONS CONTINUED
• WHAT ARE SOME THINGS MIKE COULD DO WITH HIS TAX SAVINGS?
• HOW MUCH TAX WAS OWED ON THE FIRST $5,000 OF GROSS INCOME
• $0 (THE FIRST $8950 IS NOT TAXED!!!)
• COMPARE MIKE’S GROSS INCOME TO ANN’S GROSS INCOME. WHAT DO YOU NOTICE?
• THEY ARE THE SAME
• COMPARE MIKE’S TAXABLE INCOME TO ANN’S TAXABLE INCOME. WHAT DO YOU
NOTICE?
VISUAL 7.1 – NICOLE’S W-2 WAGE & TAX STATEMENT
VISUAL 7.2 – NICOLE’S FORM 1040EZ
VISUAL 7.3 – FEDERAL TAX TABLE FORM 1040EZ
• WHAT IS NICOLE’S ADJUSTED GROSS
INCOME?
• WHAT IS NICOLE’S TAXABLE INCOME?
• WHAT ACCOUNTS FOR THE DIFFERENCE
BETWEEN THESE NUMBERS?
• HOW MUCH FEDERAL INCOME TAX
WAS WITHHELD FROM NICOLE’S
PAYCHECK?
• WHERE WOULD NICOLE GET THIS
INFORMATION?
• HOW MUCH TAX DOES NICOLE OWE
FOR 2008?
• WHERE DID SHE GET THIS
INFORMATION?
• WAS TOO MUCH OR TOO LITTLE
WITHHELD FROM NICOLE’S PAYCHECK?
• HOW MUCH TAX DOES NICOLE STILL
OWE?
DO NOW – EXERCISE 7.3 – IS IT BETTER TO GET A TAX
REFUND OR TO HAVE FEWER TAXES WITHHELD? PART 1
• READ THE EXERCISE AND COMPLETE JACK’S 1040EZ FORM
• AFTER COMPLETING THE FORM – ANSWER BOTH SETS OF QUESTIONS FOUND
IN THE EXERCISE
• DISCUSSION QUESTIONS –
• WHAT IS THE DIFFERENCE BETWEEN JACK’S WEEKLY GROSS PAY AND HIS NET PAY?
• $77.79
• HOW MANY WITHHOLDING ALLOWANCES DID JACK CLAIM?
• 0
• WHAT IS JACK’S MARGINAL TAX RATE?
• 15%
• DOES JACK OWE TAXES OR GET A REFUND?
• REFUND - $442
• HOW WOULD YOU RECOMMEND THAT JACK CHANGE HIS WITHHOLDING ALLOWANCES
FOR NEXT YEAR?
Closure – TURN INTO BIN
• WHY WOULD IT BE EASIER FOR A STUDENT TO USE THE 1040EZ FORM
WHEN FILING THEIR TAXES THAN THE COMPLETE 1040?
• DEFINE –
•
•
•
•
Grosse Pay
Net Pay
Deductions
Benefits
• What is the difference between required and optional deductions?
• What types of benefits may be provided by employers?
Homework
• COMPLETE EXERCISE 7.4 – IS IT BETTER TO GET A TAX REFUND OR TO
HAVE FEWER TAXES WITHHELD? PART 2
• STUDY CONCEPTS FROM CLASS
• WORK ON BINDER
Lesson 3.4: Managing Your Money
• Objectives
• Students will be able to:
• Identify the major categories of a family budget.
• Differentiate among various types of expenses.
• Demonstrate trade-offs that occur when constructing a budget.
• Concepts
•
•
•
•
•
•
•
Assets
Budgeting
Fixed Expenses
Income
Liabilities
Net Worth
Variable Expenses
• Today – introduces basics of money management
PURPOSE OF TODAY
• HELP STUDENTS UNDERSTAND SOME KEY ASPECTS OF PLANNING
THEIR FINANCIAL FUTURE
• DECISIONS ABOUT HOW TO USE INCOME ARE SIMILAR TO OTHER
DECISIONS
• ADVANTAGES AND DISADVANTGES TO VARIOUS CHOICES
• FINANCIAL SACRIFICES CAN BE DIFFICULT TO MAKE WHEN THE COSTS
BE PAID IN THE PRESNT AND MOST OF THE BENEFITS OCCUR IN THE
FUTURE
THEME 3 INTRODUCTION
• FIND THE PARAGRAPH AND KWL COLUMN THAT YOU COMPLETED AT
THE BEGINNING OF THE UNIT.
• REVIEW YOUR ACTIVITY.
• PARTNER UP AND SHARE YOUR PARAGRAPHS.
• BE PREPARED TO SHARE WITH CLASS.
EXERCISE 8.1 – BUDGETS ARE BEAUTIFUL CALL-IN SHOW
• 5 VOLUNTEERS –
•
•
•
•
•
BUDGET BOB =
DR. PENNY SAVER
CONNIE FROM CONNECTICUT
CALVIN FROM CALIFORNIA
MINNIE FROM MINNESOTA
• REMAINDER OF CLASS – FOLLOW ALONG WITH SCRIPT. REMAIN QUIET
• ANSWER THE QUESTIONS AT THE END OF THE SCRIPT
EXERCISE 8.1 – BUDGETS ARE BEAUTIFUL CALL-IN SHOW
• DISCUSSION QUESTIONS –
• WHAT IS DISPOSABLE INCOME?
• WHAT DOES DR. SAVER RECOMMEND AS THE THREE PARTS OF A FAMILY
BUDGET?
• WHAT ARE FIXED VARIABLE EXPENSES? USE EXAMPLES TO ILLUSTRATE ECH.
• WHAT DOES “PAY YOURSELF FIRST” MEAN?
• WHAT IS NET WORTH?
DO NOW – EXERCISE 8.2A JOHN AND
MARCIA: MONTHLY SPENDING PLAN 1
• READ THE BACKGROUND INFORMATION ONLY
• DISCUSSION QUESTIONS –
• WHO ARE JOHN AND MARCIA?
• WHAT IS THEIR LIFESTYLE?
• WHAT IS THEIR IMMEDIATE FINANCIAL GOAL?
DO NOW – EXERCISE 8.2A JOHN AND
MARCIA: MONTHLY SPENDING PLAN 1
• EXAMINE JOHN AND MARCIA’S FIXED AND VARIABLE EXPENSES FOR
SPENDING PLAN.
• ANSWER THE QUESTIONS
• DISCUSSION QUESTIONS –
• WHAT ARE SOME EXAMPLES OF JOHN AND MARCIA’S FIXED EXPENSES?
• WHAT ARE SOME EXAMPLES OF JOHN AND MARCIA’S VARIABLE EXPENSES?
• JOHN AND MARCIA HAVE DECIDED TO PRACTICE THE “PAY YOURSELF FIRST”
APPROACH TO SAVING FOR A SECOND CAR. HOW DO THEY PAY THEMSELVES FIRST?
• EXAMINE JOHN AND MARCIA’S MONTHLY SPENDING PLAN. WHAT SACRIFICES DO
YOU THINK JOHN AND MARCIA SHOULD MAKE IN THER VARIABLE EXPENSES TO
MEET THEIR GOAL?
• WHAT ARE THE BENEFITS AND COST OF YOUR RECOMMENDED DECISIONS FOR JOHN
AND MARCIA?
CLOSURE – TURN INTO BIN
• WHAT IS DISPOSABLE INCOME?
• WHAT ARE THREE PARTS OF A FAMILY BUDGET?
• WHAT ARE FIXED EXPENSES?
• WHAT ARE VARIABLE EXPENSES?
• WHAT IS NET WORTH?
Homework
• COMPLETE THE FOLLOWING ACTIVITIES –
• EXERCISE 8.2B – JOHN AND MARCIA: MONTHLY SPENDING PART 2
• EXERCISE 8.3 – CAN JOHN AND MARCIA AFFORD THE HOME OF THEIR
DREAMS?
• STUDY CONCEPTS FROM CLASS
• WORK ON BINDER
Lesson 3.5: Preparing My Own Budget
• Objectives
• Students will be able to:
• Construct a personal budget based on the entry level career salary chosen earlier in the
course.
• Analyze how a budget will help individuals achieve their goals
• Concepts
• Budgeting
• Fixed Expenses
• Variable Expenses
• TODAY – LEARN ABOUT SETTING UP A PERSONAL BUDGET BASED ON
CAREER CHOICE MADE EARLIER
BRAINSTORM – WORK WITH A PARTNER AND
COMPLETE IN BINDER
• GENERATE A LIST OF GOODS AND SERVICES YOU WOULD WANT TO
HAVE AS YOU START LIVING ON YOUR OWN
• REMEMBER – YOU HAVE ALREADY CHOSEN A CAREER AND SHOULD KEEP
THAT CAREER’S INCOME AND HEALTH BENEFITS IN MIND WHILE
BRAINSTORMING
• FOR EXAMPLE –
• IF YOUR CHOSEN CAREER WAS VETERINARY TECHNICIAN, YOU CANNOT PURCHASE OR
LEASE A FERRARI
• TAKE OUT ACTIVITY 2.5.3 – CAREER DECISION GRID
• DOES YOUR ENTRY-LEVEL SALARY SUPPORT YOUR INITIAL WANTS?
HANDOUT 3.5.1 – TYPICAL BUDGET CATEGORIES & NOTES
• WRITE YOUR YEARLY GROSS INCOME ON THE TOP OF THE PAGE
• EXPENSES THAT COMPRISE A BUDGET
• FIXED EXPENSES – SAME AMOUNT OF MONEY MUST BE PAID FROM MONTH TO
MONTH AND HARDLY EVER CHANGES (RENT, MORTGAGE, INSURANCE, TAXES,
INSTALLMENT LOANS, STUDENT LOANS)
• REGULAR VAIRABLE EXPENSES – GOODS AND SERVICES THAT REOCCUR EACH MONTH
BUT THEIR AMOUNTS WILL VARY (FOOD, CLOTHING, TRANSPORTATION, UTILITIES,
MEDICAL CARE, REVOLVING CREDIT CARD PAYMENTS)
• DISCRETIONARY EXPENSES – GIFTS, CHARITY, ENTERTAINMENT, RECREATION,
COFFEE/DRINKS, MAGAZINES, BOOKS, COMPUTER GAMES, PET SUPPLIES, TOYS
ACTIVITY 3.5.2 – BEGINNING BUDGET WORKSHEET
• YOUR INCOME IS $20,000 PER YEAR
• PLACE THE AMOUNT AT THE BOTTOM OF THE PAGE
• CALCULATE THE NET INCOME FOR THE YEAR BY USED 15% AS THE FEDERAL
TAX
• SUBTRACT THAT NUMBER FROM $20,000 TO GET THE YEARLY NET
• DIVIDE THE YEARLY NET BY 12 TO GET THE MONTHLY YET
• USE THE SUGGEST PERCENTAGES FOR EACH CATEGORY TO COMPLETE THE
FIRST COLUMN OF SUGGESTED MONTHLY EXPENSES AND PLACE THEM IN
EACH OF THE SPACES PROVIDED
• ADD UP THE COLUMN TO ACCOUNT FOR 100% OF YOUR INCOME FOR THE MONTH
ACTIVITY 3.5.2 – BEGINNING BUDGET WORKSHEET
• DISCUSSION QUESTIONS –
•
•
•
•
•
HOW WELL CAN A PERSON LIVE WHO MAKES $20,000/YEAR?
WHICH EXPENSES WILL BE A PROBLEM FOR THIS PERSON?
WHAT EXPENSES CAN BE ELIMINATED?
WHAT ADJUSTMENTS COULD A PERSON MAKE?
WHAT OTHER OPTIONS WILL NEED TO BE CONSIDERED?
ACTIVITY 3.5.2 – BEGINNING BUDGET WORKSHEET
• FLIP ACTIVITY 3.5.2 OVER TO FIND ANOTHER COPY
• COMPLETE THE CALCULATIONS FOR THE MONTHLY NET FOR THE ENTRY LEVEL
SALARY OF YOUR CHOSEN CAREER
• PLACE THE INFORMATION AT THE BOTTOM OF THE PAGE
• USE ACTIVITY 3.5.1 – TYPICAL BUDGET CATEGORES – WHICH HAS THE
PERCENTAGES
• COMPLETE A BUDGET FOR THE SALARY
• DISCUSSION QUESTIONS –
• WHAT WOULD YOU DO IF FOOD OR TRANSPORTATION COSTS SUDDENLY ROSE ABOVE
THE PERCENTAGES IN YOUR BUDGET?
• WHAT WOULD HAPPEN TO YOUR BUDGET IF YOU WERE SPENDING 45% OF YOUR
MONTHLY NET ON HOUSING?
• WHY COULD CREATING A BUDGET BE A DIFFICULT PROCESS TO CARRY OUT AND
MAINTAIN?
CLOSURE – TURN INTO BIN
• WHAT CATEGORIES OF YOUR BUDGET CAN’T YOU ADJUST MONTH TO
MONTH?
• WHAT ARE SOME EXAMPLES OF FIXED EXPENSES IN A BUDGET?
• WHAT CATEGORIES OF YOUR BUDGET CAN YOU ADJUST MONTH TO
MONTH?
• WHAT ARE SOME EXAMPLES OF VARIABLE EXPENSES IN A BUDGET?
• WHAT BUDGETING PROCESS DO SOME PEOPLE WHO GET INTO
FINANCIAL TROUBLE USE?
Homework
• COMPLETE ACTIVITY 3.5.3 - ASSESSMENT
• STUDY CONCEPTS FROM CLASS
• WORK ON BINDER