To Do: (10 minutes to complete) Get Scenario #1 answer key from front table and check your answers. *Fix mistakes in red* Table partners read over the “Budget- Fixed and Variable Expenses” Write definitions into packet Complete activity together (10 minutes to complete)

Ending Balance: $130. 83

Fixed Expense vs. Variable Expense an expense that stays the same each month Variable Expense an expense that might change each month - Utilities (heat, air, water) - Car (maintenance, gas) - Groceries - Clothing - Entertainment - Gifts / Presents - Medical bills (check up, physical, prescription) Mortgage (house payment/ rent) Car payment & insurance Cable, Cell Phone, Internet*

Remaining Balance for the month: Were Chris’s expenses greater than or less than expenses for the month? $46 219 185 59 61 40 34 28 15 185 456

Writing a Check... Discuss with table partner: What is a Check? So what is a Check?? a method of payment, in which money is taken out of your account

Who you are paying: Transaction Description The date you write the check check # Amount of $ Date: Pay to the Order of: Writing the $ amount out DOLLARS Memo: your signature What items are you buying

Check Example Target Toiletry items $72.58

Now practice writing a check Pick 2 transactions from scenario #1 Write the check out to the appropriate place When you are finished trade with a table partner and have them check it over. Make corrections in red

Established Expenses Based on your life situation card Health and Life Insurance Medical and Dental Insurance

NMI 01/19/17 Total Put total here New Balance Health/Life/Medical/ Dental Insurance Total New Balance Put total here