1. 7 TH GRADE Personal Finance

2. Piggy Bank? Has anyone ever saved money? Or maintained a budget of any kind?

3. WHAT ARE YOUR DREAMS? How are you going to achieve those dreams?

4. Tips for a budget http://www.youtube.com/watch?v=4AKGooMqYMg

5. Use the Internet to find the definition Budget- Income- Expense- Savings- Debt-

6. Key Vocabulary Words Budget- A plan for using your income in a way that best meets your wants and needs. It includes a record of your expected income, your planned expenses, and your planned savings over a certain period of time. A good budget helps people set priorities for spending and saving.

7. Key Vocabulary Words Income- Amount of money that an individual or business earns in a given period.

8. Key Vocabulary Words Expenses- In an amount of money used to buy or do something. You must also plan for unexpected expenses, such as medical visits or accidents.

9. Key Vocabulary Words Savings- Income not used; money set aside. Can accumulate when income is higher than expenses for an individual.

10. Key Vocabulary Words Debt-Money that is owed. Can accumulate when expenses are higher than income for a business or individual.

11. Moving Out??? Have you ever thought about “Moving Out” and living on your own? What costs would you have to consider? -

12. Minimum wage job You have landed yourself a job at the local Martins Food Market working 40 hours a week. You are currently getting paid minimum wage which is $7.25. How much per month will you earn before taxes?

13. Monthly Budget Activity Complete Scenario #1 -What did you conclude? Complete Scenario #2 -What did you conclude? Complete Scenario #3 -What did you conclude?

14. What are you saving up for? Pick 2 items that you would like to buy (ex. car, playstation, new shoes, jewelry, snowboard). Use the Internet to research what you would like to save up for. Research different websites/stores to compare prices. Create a word document containing the following information Your Name Picture of each object you want Price of each object you want If you receive a $10 per week allowance for doing household chores how long will it take to afford both items

15. Review Do you feel that it is important to “Save” money. Was this lesson an eye opener?

16. Sneak Peak to next weeks lesson INVESTMENT!!! http://www.youtube.com/watch?v=w_mU8VX1Arc