Making Ends Meet By TS Vest *2015 This is the teacher version. It may have extra slides of explanation that are not to be on your PPT. 1 Making Ends Meet By TS Vest *2015 Picture of YOU or general “life” picture Student1 (Any slide needed for students will say Student, and the number of slide it is.)

GPA (Grade Point Average)= _________ 2 Education options include: Choose 1: 3.33: Graduate 2.67 to 3.32: College Bachelors (Under Graduate Degree) 2.0 to 2.66: Associates or Technical Under 2.0: HS Diploma Possible Jobs: EX: 1College Professor 2Teacher 3Veterinarian 4Professional Musician Student2

Job/Career for Reality Store 3 Job Title: Gross Yearly Salary: Job Duties: Education/ Training: Demand: Based on GPA results Make sure they are answered and that you include a picture of it. Student3

Rubric for MIT (will be graded separately) 5 points: Taking the test and setting up the Excel spreadsheet correctly with columns and rows. Also Printing “Handouts” 2 per page. 5 points: Making a pie chart with percentages, a title, and MIT labels 5 points: Making a comparison line graph, comparing your free and forced types of MI 5 points: Answering the pie chart questions, using the MIT explanation and related careers sheet 5 points: Answering the line graph questions, using the MIT explanation and related careers sheet Total: 25

MIT Profile Pie Chart Results MIT learning style: Musical Answer to Section 1 for Pie chart: In a paragraph, explain the results of your MIT Forced test. Tell your highest scored style, and give us explanations of how you learn that support or disagree with the results. Read the paper about MIT types and the careers related to them. What is a career that sounds promising in your style, explain it, and tell if you have considered it as a career. Pie charts measure parts in a whole 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 Student4

MIT Profile line graph Results Answer to Section 2 for line graph: In a paragraph, tell whether or not your free and forced choices are parallel. (Meaning that even with free choices, you choose the same ways to learn) Then, tell which learning style is your toughest to do, and how you might improve your ability to learn THAT way. (even though we all have natural abilities, we can improve all styles through practice. GPA Goal: math grade up 1 letter Grade, talk to Mrs. Camp with questions Pie charts measure parts in a whole 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 Student5

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 or me, THEN define in your own words…could include synonyms) E: Explain by using in a sentence See Example next page

In your own words Budget: Definition: estimate of how to divide the money you make to pay your bills, save, and spend wisely Description: 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. Student6 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.

Student 789 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 7) Net Income: The total amount of money you make AFTER the SS Taxes, and other…What you actually bring home (wide slide 8) 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 9) 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.

Just write the definitions: 10-11-12-13 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, you still pay for it, just less than usual (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 Student14

Budget Planning Table Please put in own Amounts!! Insert Net Monthly pay here: mine is $3540.00 Student 15 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

Student16 Mortgage (word) 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 *Actually, they will also add on mortgage insurance and Property tax as well. 16*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. 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.

Vocabulary : house BILLS Student17 Vocabulary : house BILLS 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.

How much can you afford for a house? Given the TOTAL PRICE Given the MONTHLY Go to the bankrate loan calculator and set up: 5% interest 30 years * *If you had an event happen that gave you a down payment. Click on it Set up: 5% interest 30 years *Down payment: *

“My Humble Home” example Student18 “My Humble Home” example 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 Student19 My First Mortgage Check! 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 Student20 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.

Comparing Payments of a $25,000 car… 2-yr loan 4-yr loan You can get a 5% interest rate, and will have a monthly payment of $1096.78 $1096.78 times 24 months is: Total: Interest: You can get a 5% interest rate, and will have a monthly payment of $575.73 $575.73 times 48 months is: Total: Interest: Are you a “monthly” person or a “total price” person?

Jeep Wrangler example Total Cost: $24,990 Monthly Payment: $426.05 Student21 Jeep Wrangler example 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 Student22 Lifestyle by tsvest example 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. Summary of plans figured and lessons learned from the Making Ends Meet Experience

PERSONAL 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 or that you turn in the paper copy. 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?