# Being Money Wise. Question Why do you have to be wise with your money?

## Presentation on theme: "Being Money Wise. Question Why do you have to be wise with your money?"— Presentation transcript:

Being Money Wise

Question Why do you have to be wise with your money?

Skills that will be covered Ratios Rates Unit Rates Proportions

What is a ratio? A comparison of two things that have the same unit.

Example Which team won the NBA 2008 championship? What was the score of the final game? Celtics: 131 Lakers: 92

Lakers 92 Celtics 131 This is a ratio Ratios can be written as follows 92 to 131 92:131 points

What is a rate? If ratios compare two things that have the same units, Then a rate does what? Compares two things that have different units

Examples of rates You made \$400 in 4 days This can be written as a fraction 2 different units (dollars & days) \$4004 days

Unit Rates Easy question: How much did you make each day? This is an example of a UNIT RATE \$400 4 days 1 st Day2 nd Day3 rd Day4 th Day \$100 1 day

Who made more? If you made \$400 working 4 days And your friend made \$900 working 15 days Whose job pays better? Find out how much you and your friend gets paid every day. So the strategy Is to find the UNIT RATE \$400 4 days \$100 1 day You \$900 15 days ? 1 day Your Friend \$60

Minimum Wage \$5.85 per hour Write this as a UNIT RATE By the way, if 2 fractions are equal, do you know what that is called? A proportion \$5.85 1 hour10 hours ? \$58.50

Alabama\$5.85 Alaska\$7.15 Arizona\$6.90 Arkansas\$6.25 California\$8.00 Colorado\$7.02 Connecticut\$7.65 Delaware\$7.15 Georgia\$5.85 Hawaii\$7.25 Idaho\$5.85 Illinois \$7.75 Indiana \$5.85 Iowa \$7.25 Kansas \$5.85 Kentucky \$5.85 Louisiana \$5.85 Maine \$7.00 Maryland \$6.15 Massachusetts \$8.00 Michigan \$7.15 Minnesota \$6.15 Mississippi \$5.85 Minimum Wage of 24 States What states have the highest minimum wage? Why do different states have different minimum wages? California\$8.00 Massachusetts \$8.00 1 hour

Buying Laundry Detergent Your mom sent you to the grocery store She told you to buy washing powder There were only 2 boxes left! One box costs \$52.21 for 63 loads (WHAT?)(WHAT?)

Buying Laundry Detergent One box costs \$52.21 for 63 loads The other box costs for \$39.99 for 40 loads Which box is the better deal? Hint: Find unit rates

Buying Eggs When you got home, your mom wants you to go back and get some eggs A dozen eggs costs \$2.75 2 ½ dozen eggs costs \$5.50 Which one is the better deal?

\$2.75 12 eggs \$5.50 30 eggs1 egg \$0.23\$0.18

Conclusion/Moral If you save a little change here and there Which will change into… The change will change into dollars

Conclusion/Moral THE END

\$52 for laundry detergent? Do you know where most laundry detergents comes from? Petroleum! What else is made from petroleum?

Remember This Example? If you made \$400 working 4 days And your friend made \$900 working 15 days Whose job pays better? Find out how much you and your friend gets paid every day. So the strategy Is to find the UNIT RATE \$400 4 days \$100 1 day You \$900 15 days ? 1 day Your Friend \$60 OKAY I GOT IT!