FACTORY SHOALS MIDDLE SCHOOL MR. L. SMITH

Agenda Message Agenda Message: Social Studies GMAS is Wednesday. Review your GMAS Study Guides for SWA, S&EA, & Africa. Twenty school days until end of the school year. Standard: Standard: Explain personal money management choices in terms of income, budgeting, savings, spending, credit, and investing. Essential Question for Monday April 25 th : Essential Question for Monday April 25 th : What information do you need in order to make a budget? Warm-Up Warm-Up: List some of the benefits of budgeting. Today We Will: 1. Personal Money Management-Budgets 2. Budget Activity Worksheet

E.Q. Answer for Monday April 25 th : 1. Amount of income you have coming income 2. Amount of money you have going out 3. Knowledge of how you can make adjustments/changes to your budget if needed Warm-Up:  Helps you identify the amount you spend each month  Helps you identify your expenses and spending habits  Helps you prepare for major or unexpected expenses  Helps you control how you spend your money

Agenda Message Agenda Message: Bring calculators to class everyday. Personal Money Management Vocabulary Quiz is May 6 th. Social Studies Final Exam is May 18 th. Standard: Standard: Explain personal money management choices in terms of income, budgeting, savings, spending, credit, and investing. Essential Question for Thursday April 28 th : Essential Question for Thursday April 28 th : What is a budget and what are benefits of budgeting? Warm-Up Warm-Up: What is the #1 factor impacting your ability to earn money? Today We Will: 1. Personal Money Management-Budgets 2. Budget Activity Worksheet

E.Q. Answer for Thursday April 28 th E.Q. Answer for Thursday April 28 th : A budget is a spending and savings plan based on estimates of income/expenses and it always relates to a period of time. Benefits of budgeting include the following;  Helps you identify the amount you spend each month  Helps you identify your expenses and spending habits  Helps you prepare for major or unexpected expenses  Helps you control how you spend your moneyWarm-Up: The amount of education & training that you have

Budget – A spending and savings plan based upon estimates of income and expenses. They are used by individuals and organizations and finally, always relate to a period of time. Budgets are used To Make the Most Of Your Money.

What are the Benefits of Budgeting?  Helps you identify the amount you spend each month  Helps you identify your expenses and spending habits  Helps you prepare for major or unexpected expenses  Helps you control how you spend your money

New vocabulary words Expense An item on which you spend money Needs Things you must have to live (food, shelter, transportation, medical) Wants Things that would be nice to have but are not needed in order to liveIncome The amount of money you make weekly, bi-monthly, monthly.

What information do you need to make a budget? 1. Amount of income you have coming in 2. Amount of money you have going out (Needs, Wants, Savings, Donations) 3. How can you make adjustments (or changes) in your budget to make your money go further?

Budget Calculations Activity Worksheet

Angie Angie is a seventh grader. She knows how to make the most of her money! Angie feels that budgeting actually helps – especially if there are big things she is planning to buy. Angie is saving for a computer and a CD player. Plus, she likes to shop and go to the movies! To have enough money for everything she wants to do and save for, she needs a budget.

New Vocabulary Words 1. Budget 2. Expense 3. Needs 4. Wants 5. Income