1. Warm-up List everything you own (assets) that could be sold for cash? List the estimated value. – Examples: car value, savings accounts, checking accounts, etc. List everything you owe (liabilities) that need to be paid today. Do not include monthly bills like cell phones, insurance, etc. (unless they are passed due) – Total of remaining car payments, debt to parents, a friend, loans, etc.

2. Lesson Three: Net Worth and Cash Flow Organize and then determine your net worth using a net worth worksheet and a monthly cash flow worksheet

3. Teens and Money Budget Worksheet Student centered activity: Cash Flow worksheet List your total income (estimate) List your total expenditures (estimate) Find your monthly Surplus or Deficit Question: What term is used to describe a cash flow worksheet that has a deficit at the end of the month Answer: Negative Cash Flow

4. Budget Project Teacher review and assessment at the quarter point……

5. Article: “What is going On?” Review Read sections 1, 2, 3, 4 What is causing the price to go up? What can we as consumers do to cut costs? What is the effect on the overall economy? Record answers on paper…..

6. Net Worth An important step in gaining financial control is to calculate your net worth Assets – Liabilities = Net Worth Own - owe = what your worth Complete sheet to the best of your ability. Due Tomorrow: 10 points Net worth calculator-- Median age comparison/ Net worth calculator-- Median age comparison

7. QUICK AND HANDY CHART (from CNN Money)CNN Money So if you want to have a quick (very simple) comparison chart of what you are worth compared to others in your age and income, here it is! If you want to really get down and dirty with the numbers, go to the CNN calculator and type in your age and income to get something more customized. I couldn’t show everything here, there are too many variables.

8. Closure– Net Worth is just a number What is the difference between a cash flow statement and a net worth statement? Answers Why is this information important?