7 TH GRADE Personal Finance. Piggy Bank? Has anyone ever saved money? Or maintained a budget of any kind?

Slides:

Advertisements

Similar presentations

Chapter 19 Lesson 2 Budgeting Your money.

Advertisements

Mrs. Wilson Business Essentials. This lesson provides information about money management basics and the reports used to measure financial progress.

Earning Money  What is income and what are 3 possible sources?  Income is money that you have available to you to spend  3 sources: babysitting,

PERSONAL FINANCIAL MANAGEMENT

Teens 2 lesson eight cars and loans. the costs of owning and operating a car Ownership (fixed) costs: Purchase price Sales tax Registration fee, title,

Income and Expenses. Income Income from work A. Wage – money paid by the hour or unit of production. B. Salary – money paid on a weekly, monthly, or yearly.

Money Management 28.2.

Life or Debt: Tips on Saving and Investing Jamie Salazar.

Financial Planning. More than budgeting More than investing Financial planning is a thinking process that helps achieve goals. A blueprint or plan for.

Personal Financial Planning

The Financial Plan Chapter 2. Definitions You Need to Know Personal financial plan: specifying financial goals and describing in detail the spending,

Investing and Personal Finance

Personal Finance Part 1.  _don_t_eat_the_marshmallow_yet.html _don_t_eat_the_marshmallow_yet.html.

Money Management Strategy

CHECKING, SAVINGS, AND INVESTING MANAGING YOUR MONEY.

The Financial Plan © 2010 Pearson Education, Inc. All rights reserved Chapter 2.

Unit 03: Financial Literacy Vocabulary. Available Balance The amount available in an account for a person, business, or organization to spend. How much.

 A: Make a budget: A Budget makes sure you have enough money to spend and save. A budget allows you to see where your money is being spent and it helps.

Good Debt vs. Bad Debt 7 th Grade Income vs. Expenses #3.

Subtitle Making and Living Within a Budget. How should you spend your money? How do you spend your money?

Consumer Econ Project. Steps of Project 1. Budget-1 2. Spending Spree-Move in items 3. Food items per week and general recipes 4. Short essay explaining.

Budgeting & Saving hUxttPh7_XQ.

Creating a budget.

Building: Knowledge, Security, Confidence Budgeting.

AP Economics Choose Between Work & Studying. Maximizing Utility Where will you maximize your utility between the hours you have in a day, week or month?

Personal Finance The economy in our state is affected not only by national and global markets, but is also affected by actions and decisions we make about.

Financial plans and budgeting AR FACS framework 7.6.

CHAPTER Budgeting.  Do you have unlimited resources to buy all the things you want?  To achieve financial success, you will have to plan and work.

NEFE High School Financial Planning Program Unit Two – Budgeting: Making the Most of Your Money Unit 2 - Budgeting: Making the Most of Your Money.

Money Management Freshman Seminar – Introduction to Business Bishop Kearney High School Dr. Hays December 8, 2009.

Only 40 percent of Americans use a budget to plan their spending… The rest routinely spend more than they can afford.

PERSONAL FINANCE Financial planning for individuals. Generally, it involves analyzing your current financial position, predicting short-term and long-term.

The Secrets of Saving Get Ready to Take Charge of Your Finances.

Personal Finance Budgeting Review. Budgeting DefinitionsTypes of Expenses Budgeting Formulas Document Storage Budgeting Potpourri

What is something that you would like to save money for?

Managing Personal Finances

Millionaire Words to Know. scarcity  Scarcity is when there is not enough of something to go around.

Financing My First Car By: Lindsey Wiesner. My Dream Car!

Chapter 16 Planning a Budget. Why It’s Important Budgeting techniques help you keep track of where your money goes so that you can make it go further.

Sit at the desk Get something out to write with. You will need to take notes! Answer Question on Handout.

 Empowering people with basic financial knowledge to help shape their dreams and secure their future.

Mr. Stasa – Willoughby-Eastlake City Schools ©

Why create a budget?  A budget helps you understand where your money goes.  It helps you live within your means and meet your goals.  It helps you find.

B UDGETING 101. W HAT ARE YOUR FINANCIAL GOALS ? What kinds of items would you like to purchase? Do you plan to pay for a college education? Do you want.

Ch Personal Finance Personal Finance. How much money will the average American earn in their working lifetime? (35 years) How much money will the.

Personal Budgets. A personal budget… is a plan for raising and spending your own money. tells you exactly where your money goes. helps your expenses meet.

Mr. Stasa – Willoughby-Eastlake City Schools ©

Budgeting and Financial Planning Why should people make a plan for how to get and spend money? What strategies can be used to do this most effectively?

MONEY MANAGEMENT VOCABULARY. Budget: an estimate of income and spending for a certain period of time. Budget: an estimate of income and spending for a.

SAVINGS – Plan for Financial Security. Why Save?Savings is a trade off. You agree to save now in order to spend in the future.  Save for the Unexpected.

Georgia Studies Unit 9: Personal Finance Lesson 1: Personal Finance

Unit 2 - Budgeting: Making the Most of Your Money Did you Know? In 2014, the average American teen spent $104 per week. Did you Know? In 2014, the average.

Section 3.3.  Step 1: Set Your Financial Goals  Step 2: Estimate Your Income.

Preparing a Budget. Budgeting Managing one’s income and expenses by creating a plan  Companies, Governments, Families, You Covers a specific time  Companies.

 Income from work- wages (paid by hour or unit of production) or salary (paid weekly, monthly, yearly)  Income from wealth- things you own- bank accounts,

JA Personal Finance Volunteer’s Name Volunteer’s Title Volunteer’s Company.

Savings Accounts. What is Savings? It is the money put aside for use in the future. Most experts recommend that you put back 10% of your income in savings.

How much are we producing and buying????. total value of all the goods and services produced in a country in a year.  This is one way to measure a country’s.

PERSONAL FINANCE LITERACY HANDSONBANKING.ORG Know how your money works!

Money Management Why budget?. Introduction Radio Call-In Show.

Planning a Budget CHAPTER 28 MRS. SORRELL. Money Management Money is a limited resource Money is a limited resource Most people want more goods and services.

Budgeting and Record Keeping. Financial Planning ► Financial Plan- An _____ program for spending, saving, and investing the money you earn.

Managing Money. What do you use money for? Money is for the things that you need Money is for the things that you want Money is for unplanned expenses.

Making a Budget 7 th & 9 th Grade FACS. How much money do you spend each week?

Financial planning.

“Get Ready to Take Charge of Your Finances” Introductory Level

The Secrets of Saving.

PAY YOURSELF FIRST Introductory Level.

PAY YOURSELF FIRST Introductory Level.

Planning for the Future:

Presentation transcript:

7 TH GRADE Personal Finance

Piggy Bank? Has anyone ever saved money? Or maintained a budget of any kind?

WHAT ARE YOUR DREAMS? How are you going to achieve those dreams?

Tips for a budget

Use the Internet to find the definition Budget- Income- Expense- Savings- Debt-

Key Vocabulary Words Budget- A plan for using your income in a way that best meets your wants and needs. It includes a record of your expected income, your planned expenses, and your planned savings over a certain period of time. A good budget helps people set priorities for spending and saving.

Key Vocabulary Words Income- Amount of money that an individual or business earns in a given period.

Key Vocabulary Words Expenses- In an amount of money used to buy or do something. You must also plan for unexpected expenses, such as medical visits or accidents.

Key Vocabulary Words Savings- Income not used; money set aside. Can accumulate when income is higher than expenses for an individual.

Key Vocabulary Words Debt-Money that is owed. Can accumulate when expenses are higher than income for a business or individual.

Moving Out??? Have you ever thought about “Moving Out” and living on your own? What costs would you have to consider? -

Minimum wage job You have landed yourself a job at the local Martins Food Market working 40 hours a week. You are currently getting paid minimum wage which is $7.25. How much per month will you earn before taxes?

Monthly Budget Activity Complete Scenario #1 -What did you conclude? Complete Scenario #2 -What did you conclude? Complete Scenario #3 -What did you conclude?

What are you saving up for? Pick 2 items that you would like to buy (ex. car, playstation, new shoes, jewelry, snowboard). Use the Internet to research what you would like to save up for. Research different websites/stores to compare prices. Create a word document containing the following information Your Name Picture of each object you want Price of each object you want If you receive a $10 per week allowance for doing household chores how long will it take to afford both items

Review Do you feel that it is important to “Save” money. Was this lesson an eye opener?

Sneak Peak to next weeks lesson INVESTMENT!!!