1. Georgia Studies Unit 9: Personal Finance Lesson 1: Personal Finance Study Presentation

2. Lesson 1: Personal Finance ESSENTIAL QUESTION : –Why is it important to save money? –Why is good credit important and what dangers are associated with credit? –How might an individual increase their income potential?

3. Personal Income Income – Amount of money that a person makes by selling products or by providing a service. Young citizens may have income from an allowance, gifts, or for completing chores at home. Older citizens receive income from working a job and receiving a paycheck. Most people have two choices of what to do with income: –Spend money –Save money for the future (Savings) A budget (spending-and-savings plan) can help a person decide how to spend and/or save their money.

4. Investing of Income Saving is really a form of investing. Investing – Putting money aside in order to receive a greater benefit in the future. Money can be invested in financial assets such as bank accounts, certificates of deposit, stocks, bonds, and mutual funds. One of the major benefits of investing is that your money often earns a certain amount of interest which can then add to your total income. Money can also be invested in a new business (capital) and serve as an additional source of income.

5. New Businesses Entrepreneurs - A person who creates, organizes, and manages a business. The main goal of an entrepreneur is to make profit. Profit is the monetary gain a business owner makes by selling goods or providing services. The total amount of profit a business makes comes from the following equation: Total Income – Total expenses = Profit Risk v. Reward – Entrepreneurs have to risk money that they have invested in their company (capital) in order to try and make a profit. New businesses also provide new jobs to the local economy of a city or region and increase tax revenue (more taxes paid to the government).

6. Credit Credit – The ability to buy something now and pay for it later over a period of time. Forms of credit commonly used by consumers: –Car Loans –Home Mortgages –Credit Cards –College Loans Credit allows people to buy things that normally they would have a difficult time affording. Credit always involves a finance charge or the payment of interest and may also involve the payment of fees. Excessive borrowing can be a problem, however, as the person may not be able to make the payments and the products charged (if they are consumable or expire) may be gone long before the loan is paid.

7. Personal Finance Videos BrainPop – Banking BrainPop – Money BrainPop – Taxes BrainPop – Budgets BrainPop – Credit Cards BrainPop – Interest

8. Georgia Businesses SS8E3 The student will evaluate the influence of Georgia’s economic growth and development. c. Evaluate the importance of entrepreneurs in Georgia who developed such enterprises as Coca-Cola, Delta Airlines, Georgia-Pacific, and Home Depot.

9. Coca-Cola o Invented in Atlanta in 1885 by John S. Pemberton as a tonic (medicine) o Purchased and expanded by Asa Candler o Sold in 1919 for $25 million o Robert Woodruff grew company to billions of dollars in sales a year o Woodruff and Candler were generous givers to worthy charities

11. Georgia-Pacific o Founded in 1927 by Owen Cheatham as a wholesaler of hardwood lumber o Headquartered in Atlanta o Employs more than 45,000 at approximately 300 locations worldwide o Has expanded to include tissue, pulp, paper, packaging, building products and related chemicals o Acquired by Koch Industries in 2005 o Has a larger factory in Rincon, Georgia (Effingham County)

13. Delta Airlines o 1924 Huff Daland crop-dusting operation was founded o 1928 bought by Collett Woolman and renamed Delta Air Services o 1929 offers first passenger flight o Today is one of the largest airline in the world (based on number of passengers) o http://www.delta.com/content/www/en_U S/traveling-with-us/where-we- fly/routes.html http://www.delta.com/content/www/en_U S/traveling-with-us/where-we- fly/routes.html

14. Home Depot o Founded in 1978 by Bernie Marcus and Arthur Blank. o Vision was one-stop shopping for the do- it-yourselfer o Opened 1 st two stores in Atlanta, GA in 1979 o Stores in all 50 states, Canada, Mexico, and China

16. Importance of Georgia Based Businesses Businesses, such as Coca-Cola, Delta Airlines, Georgia-Pacific, and Home Depot are very important to the economy of GA. Each of these provide services and products to people around the world and help to provide job opportunities for people around GA and the United States.

17. Coca-Cola http://www.gpb.org/georgiastories/storie s/coca-cola Video Logs Record at least 2 facts to share with the class.

18. Georgia’s Transportation Systems and Businesses

19. Standard SS8G2 The student will explain how the Interstate Highway System, Hartsfield Jackson International Airport, Georgia’s deepwater ports, and the railroads help drive the state’s economy. a. Explain how the four transportation systems interact to provide domestic and international goods to the people of Georgia.

20. b. Explain how the four transportation systems interact to provide producers and service providers in Georgia with national and international markets. c. Explain how the four transportation systems provide jobs for Georgians. Essential Question How do Georgia’s transportation systems provide jobs for Georgians?

21. Interstates http://www.gpb.org/georgiastories/storie s/interstate_highway_system Video Log Record at least 2 facts that will be shared.

22. Interstate Highway System ~ After WWII President Eisenhower wanted to connect major cities for national defense and to improve the economy ~ Many interstates run through Atlanta making it a huge highway transportation hub ~ I-95 and I-75 connects Georgia to numerous states ~ Tractor Trailers transport goods on interstates from factories to other states and to sea ports for shipping overseas

23. HIGHWAYS Highways are the most visible and utilized form of the four modes of transportation. The DOT (Georgia Department of Transportation)is responsible for planning, building, and maintaining state, U.S., and interstate highways in Georgia. Without the highways it would be hard to move goods and people around the state. Many people use the interstate highways daily to get to from their homes to their jobs.

24. The highways join the state’s major cities and join the state with the rest of the country. Georgia, which ranks tenth in the Untied States in number of superhighways, has fifteen interstate highways. The highways were built to make it easier for the military to move soldiers and vehicles. Interstates 20, 75, and 85 all go through Atlanta making it a center for transportation in the state.

25. Two very important north-south highways also pass through the state. I-95, which runs from Florida to Maine, goes through Georgia’s coastal area. Traveling on I-75, one can go from Miami northwest into Michigan.

26. The department had approximately 5,700 employees and a budget of $2.1 billion in 2008.

27. There are 6 major interstates that run through Georgia from other states. They are: I-75(North/South –From Tennessee to Florida) I-85(North/South –From Alabama to South Carolina) I-20(East/West –From Alabama to South Carolina) I-16(East/West -From Macon to Savannah) I-95(North/South –From Savannah to Florida) I-59(North/South –From Alabama to Tennessee)

29. I-95

30. Hartsfield-Jackson International Airport http://www.gpb.org/georgiastories/sto ries/second_busiest_airport_in_the_ world Video Log Record at least 2 facts that will be shared.

31. Hartsfield-Jackson International Airport ~ located in Atlanta ~ one of the busiest airports in the world ~ processes more than 1,000 planes daily that carry people and cargo ~ flights from Atlanta go to 5 continents ~ houses 32 airlines and 200 concessions making it one of the largest employers in the state

32. PLANES Hartsfield-Jackson International Airport is the busiest airports in the world. It is named after two former mayors of Atlanta: William B. Hartsfield and Maynard Jackson. Hartsfield founded the airport in 1925 and became its first commissioner Maynard Jackson’s name was added to the airport’s name following his death.

33. He was first elected Mayor in 1974 and served three terms. While mayor he worked to improve the efficiency and number of runways at the airport. Daily more than 1,000 airplanes pass through the airport and more than 90 million passengers and 800,000 metric tons of cargo pass through the airport a year. Flights leaving the airport go to every continent except Antarctica and Australia.

34. The Atlanta-Hartsfield International Airport generates over 434 thousand jobs and $58.2 billion dollars in business revenue. It has been the world’s busiest airport for over 12 years.

38. Deepwater Ports (Shipping) ~ the majority of products imported and exported travel on large container ships ~ products from all over world enter our country through Georgia’s shipping ports ~ automobiles & bulk goods come through Brunswick port ~ container cargo come through Savannah port (4 th busiest port in the U.S.)

39. BOATS One important transportation agency in the executive branch is the Georgia Ports Authority (GPA). It operates Georgia’s ports, which are key to international imports and exports. The GPA accounts for $1.8 billion annual income, 81,000 jobs, $585 million in state and local taxes, and leads the south Atlantic region in foreign cargo handled.

41. In addition to the deepwater ports, the GPA controls river transportation in the western part of the state. Two terminals are important parts of the river transportation system.

44. Georgia’s waterways serve as important inland “highways” for social, political, and economic growth. --recreation --water resources for towns & cities --source of food

45. Railroads http://www.gpb.org/georgiastories/storie s/railroads_economic_boom Video Log Record at least 2 facts that will be shared.

46. Railroads ~ created in Georgia during the mid 1800’s to link major cities in the state together (Athens, Augusta, & Savannah) ~ many new cities sprung up around rail lines (including Atlanta) ~ travel by rail dominated for 130 years but decreased as interstate highways increased ~ today trains carry cargo in and out of our state as well as people ~ CSX & Norfolk Southern (cargo) and Amtrak (people)

47. Trains The state’s rail system is a strong, 8,000 mile network that provides passenger service and carries freight throughout the state.

48. Transportation in Georgia Georgia has a strong transportation infrastructure including over 1,200 miles of interstate highways, over 5,000 miles of railroad tracks, and over 260 airports. Perhaps the MOST IMPORTANT reason to invest in expanding infrastructure is to help the economy to grow.

49. Ticket out the door Name the four transportation systems in Georgia? In your opinion which one is the most important to the state and why? Paragraph form.