2. Bell Ringer 1/20/16 Make a list of some items you would like to purchase in the next few years Take out homework. We need to go over it

3. Homework http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx

4. Bell Ringer share out Think about: 1. How will you pay for this item or reach this goal? 2. What do you have to do? 3. What is a budget?

5. Budget: a plan for spending and saving Cash flow: money coming IN and money going OUT

6. Record down in your notebook things you spent money on in the last few days Fixed Expenses: things you have to spend money on that are the same price each month Example: RENT or mortgage Variable Expenses: Items/bills that change each month EXAMPLE: food, gas

7. Gross Income: Money earned before taxes are taken out Net pay: Actual money you take home and what you will want to start using for your budget

8. Bell Ringer 1/21/16 Which scenario is a better deal for a CAR LOAN? A: $5,000 down, 48 months, 4.25% B. $5,000 down, 36 months, 6.75% C. $5,000 down, 48 months, 5.99% And tell me why! Please hold on to bell ringer sheets until tomorrow!!!!

9. Credit Cards Look at your handout. Circle words/phrases you do not UNDERSTAND Questions: What is the purpose of a credit card? Why might they be a good thing? What is the bad thing about credit cards?

10. GoodBad

11. Credit Limit: Max amount of money you can charge on your credit card Credit Available: what is left over from your credit limit Balance: what you owe Minimum Payment: The least amount you must pay APR: Annual Percentage Rate

12. Bell Ringer: 1/22/16 Ms. Maneck has a credit card balance of $1,000 and her APR is 20%. Based on this scenario, what should she do? WHY? A.Pay the minimum payment monthly B.Pay more than the minimum so that she can get her balance down C.Not pay her bill until she can afford to make more than the minimum payment