Cost of raising a Child

Itslearning.com Mark Finlay Economics Personal Finance Open document- “Zero Based Budgeting” DOWLOAD and ‘Enable Editing’ When complete, save as your name Email to mark.finlay@fwisd.org

Email completed Budget to: Mark.finlay@fwisd.org Name the document as your name Non-discretionary Expenses (have to pay) Utilities Health Insurance Auto Insurance Discretionary Expenses (Don’t Have to pay) Disability Insurance- pays you $ if you become disabled and can’t work Life Insurance- pays $ to spouse or children if you die prematurely

Complete the ‘Writing a Check’ assignment DO NOW Complete the ‘Writing a Check’ assignment Login to your computer

Achieve 3000 There should be a red icon on your desktop that says Achieve 3000. Double click the icon and sign in. If the icon is not there, open Chrome and type https://portal.achieve3000.com/index 2. Your login information is the same as what you use for Focus Example: s00000@stu.org JoDo.006 *If your password does not work, enter 123456* 3. Select Course: Mark Finlay Economics 4. Read the instructions and select the “Start Lesson” button. 5. Begin pretest

Evan And Nancy We are going to take a peak into the savings and investing lives of two people. We will see who will have a better future and why! Evan Nancy

Evan’s Profile Evan is going to start saving at the age of 35 Every year from 35 onward he will put $3,000 into an account that grows at a yearly rate of 8% Let’s say he does this until he is 65…

At Age 65… He will have set aside $90,000 of his own money It will grow to about $367,000 He will have made a grand total of $277,000 Sounds good right?

Nancy’s Profile Nancy started saving at the age of 20 She is going to put aside $3,000 a year into an account that grows at a yearly rate of 8% Let’s say she does this until she is 35 and then does not touch it until she is 65…

At age 65… She will have set aside $45,000 YAY! I’m rich She will have set aside $45,000 It will grow to about $525,000 She will have made a grand total of $480,000. Sounds better, right? You choose: $277,000 or $480,000

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