1 Making Ends Meet By TS Vest

GPA (Grade Point Average)= _4.0___ 2 MIT learning style: Musical GPA Goal: math grade up 1 letter grade Answer to Section 1 for Pie chart: Explain the results, including 1)Did it reflect your learning style 2)Do you agree with the results? What Career was mentioned? Have you considered it or is it one you never thought of before? Answer to Section 2 for line graph: Are the main learning styles in your pie chart the same in your line graph? What learning style would you like to work on that would make you a better learner? Answer to Section 1 for Pie chart: What was your favored learning style? Explain why you agree or why you don’t. Give us an example. What careers were mentioned? Have you ever considered that job? Answer to Section 2 for line graph: Are your lines parallel or do they go their own way? Do you have more than one learning style? Explain. Look to see what is your LEAST favorite way to learn? How could you improve your skills in this learning style? Write your name after the questions. Line graphs can also be used to compare changes (between your free and forced choices) over the same period of time (now) for more than one group. (Free/forced) Tami Vest Musical and Verbal/Linguistic dominant

Answer to Section 1 for Pie chart: What was your favored learning style? Explain why you agree or why you don’t. Give us an example. What careers were mentioned? Have you ever considered that job? Answer to Section 2 for line graph: Are your lines parallel or do they go their own way? Do you have more than one learning style? Explain. Look to see what is your LEAST favorite way to learn? How could you improve your skills in this learning style? Write your name after the questions.

Job/Career Job Title: Gross Yearly Salary: Job Duties: 3 Job Title: Gross Yearly Salary: Job Duties: Education/ Training: Demand:

Best Practices: “W-i-d-e” Vocabulary Vocabulary Word Comprehension technique W: Write the word (spell it correctly) I: Illustrate the word (image) D: Describe the word (from the Internet, THEN define in your own words…could include synonym) E: Explain by using in a sentence See Example next page

4 My definition: estimate of how to divide the money you make to pay your bills, save, and spend wisely Budget: Definition: an estimate of income and expenditure for a set period of time. A plan listing your income along with all the expenses or costs you have. Once I get a job, I will have to figure out a budget of monthly spending. That way, I will know how much I can afford for a house, car, and other wants and needs.

5-6-7 Make 3 WIDE Slides….Use these as the Internet Definitions Gross Income: The total amount of money you make, including all income, taxes, SS, and benefits (wide slide 5) Net Income: The total amount of money you make AFTER the SS Taxes, and other…What you actually bring home (wide slide 6) Disposable income: income remaining after deducting mandatory rent, bills and charges, available to be spent or saved as one wishes. (Get a latte, baby….)(wide slide 7) Budget; estimate of how to divide the money you make to pay your bills, save, and spend wisely Gross income: The total amount of money you make, including all income, taxes, SS, and other. Net: The total amount of money you make AFTER the SS Taxes, and other…What you actually bring home. Disposable: income remaining after deduction mandatory bills and charges, available to be spent or saved as one wishes.

8-9-10-11 Federal, State, County Tax: Money taken out of your check for services that support govt. programs (fire, police, streets, teachers,, welfare, Food stamps, ….) Social Security: Retirement money Medicare: Medical benefit for when you retire (IRA, 403, Annuity) A financial product sold by financial institutions that is designed to accept and grow funds from an individual and then, upon maturing, pay out a stream of payments to the individual at a later point in time. Annuities are primarily used as a means of securing a steady cash flow for an individual during their retirement years. (Sometimes taking out of paycheck, sometimes done independently) Federal, State, County Tax: For services that support govt. programs (fire, police, streets, teachers….) Social Security: Retirement money Medicare: Medical Care (disabled, retired) Deductions: (IRA (Individual retirement account), 403, Annuity) A financial product sold by financial institutions that is designed to accept and grow funds from an individual and then, upon annuitization, pay out a stream of payments to the individual at a later point in time. Annuities are primarily used as a means of securing a steady cash flow for an individual during their retirement years.

Finding Net monthly 12

Budget Planning Table Please put in own Amounts!! Insert Net Monthly pay here: mine is $3540.00 13 Budget Planning Table Expense Category Recommended % Amount Housing 35% 1239.00 Car (Transportation) 10% 354.00 Electric 5% 177.00 Gas (Heat) Water 2% 70.80 Insurance 8% 283.20 Medical/Health TV/Internet/Cable Groceries (Food) 3% 106.20 Savings (Hopeful) Variable Expenses

Vocabulary : house *Mortgage: Money lent in advance, with the understanding that you will pay back the PRINCIPAL (total amount of house) with INTEREST (money the bank charges to use their money) a bit every month. Fixed Expense: Variable Expense: Utilities: 7 Fixed Expense: bills that don’t change monthly like your cell phone or Internet, mortgage or car loan. Variable Expense: bills that vary every month, like electricity in summer versus winter, or clothes budget Utilities: public services like water, electric, and gas. Mortgage: Money lent in advance, with the understanding that you will pay back the PRINCIPAL with INTEREST a bit every month. Fixed Expense: bills that don’t change monthly like your cell phone or Internet, mortgage or car loan. Variable Expense: bills that vary every month, like electricity in summer versus winter, or clothes budget Utilities: public services like water, electric, and gas. *Actually, they will also add on mortgage insurance and Property tax as well.

Mortgage (word) 14 My definition: Money lent in advance for a large purchase, with the understanding that you will pay back the PRINCIPAL(cost) with INTEREST (extra) Internet definition: a legal agreement in which a person borrows money to buy property (such as a house) and pays back the money over a period of years illustration Explanation sentence: I won’t be able to afford to pay cash for a house when I’m an adult, so I will get a 30-year MORTGAGE loan.

“My Humble Home” example 15 Total Cost: $129,900 Monthly Payment: $582 Two story, 4 bedrooms, 3 bathrooms Large back deck 1603 Library Boulevard, Greenwood IN 46142 *All Electric utilities, water, and city sewage.

My First House Mortgage check 16 My First House Mortgage check November 7, 2014 Wells Fargo Bank 782.10/100 Seven Hundred, Eighty Two Dollars ------10/100----------------- House Mortgage Acct:#785411588

Vocabulary: Car 17 Loan: amount of money someone (bank or credit union) gives you up front to pay for a large purchase, with the understanding that you will pay it back over time each month, with interest (That extra money they charge you for using their money) Lease: Renting instead of buying. You are “back loaded” on the monthly payment…meaning you pay less per month, but at the end, you make that up when buying it, or you have to give them back the car. Usually has stipulations, like paying for full coverage on car insurance and mileage allowance. Loan: amount of money someone (bank or credit union) gives you up front to pay for a large purchase, with the understanding that you will pay it back over time each month, with interest (That extra money they charge you for using their money) Lease: Renting instead of buying. You are “back loaded” on the monthly payment…meaning you pay less per month, but at the end, you make that up when buying it, or you have to give them back the car. Usually has stipulations, like paying for full coverage on car insurance and mileage allowance.

Jeep Wrangler example Total Cost: $24,990 Monthly Payment: $426.05 18 Total Cost: $24,990 Monthly Payment: $426.05 6 Year Loan Two Door Off Road Compare to monthly payment For another term: 3 year loan/$854.55

Lifestyle by tsvest example 19 My goal for a living lifestyle is to work in a service profession, while still making enough to help my children with their education, and to take some vacation trips to see things. In order to do this, I may have to add some certifications onto my license, and save money toward a vacation. I can do without HBO, and other high cost TV, but want an Internet package. I do think that I have quite a bit of education, and that has afforded me the CHOICE to do more things that I wanted to do, including NOT WORKING when my children were babies.

Financial Links Reflections You may use as many slides as you want for this. Just make sure its at the end of your PPT portfolio. 25points: 5 points for each reflection 1: Spent: Tell about some of the difficult decisions you had to make. What hit you hardest? 2: List the “standard of living” (how much it costs to live) in Greenwood, and one other place. Where would you like to live and why? 3: What were your “Reality Check” results? What does that say about you? 4: Would you rather? Do one comparison. Show your answer choice on a slide, and why you chose it. 5: Worst Jobs: Tell what job you ended up with. What was your score? Slides 20+