AGENDAS OUT! WRITE THE FOLLOWING: EXIT TICKET FAMILY BUDGET DUE TOMORROW, SEPT. 14 IF WE DO NOT FINISH IN CLASS. QUIZ ON KEY CONCEPTS OF WHAT ARE SOCIAL.

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Presentation transcript:

AGENDAS OUT! WRITE THE FOLLOWING: EXIT TICKET FAMILY BUDGET DUE TOMORROW, SEPT. 14 IF WE DO NOT FINISH IN CLASS. QUIZ ON KEY CONCEPTS OF WHAT ARE SOCIAL STUDIES FRI. SEPT. 16

YOUR EXIT TICKET/HOMEWORK Answers are to be done in complete sentences when appropriate. Questions 1a and part three of 2 should be completed this way.

WRITE THE FOLLOWING ESSENTIAL QUESTION FOR THIS LESSON ON THE FRONT OF TODAY’S PACKET: HOW DOES A PERSON DETERMINE AN ECONOMIC BUDGET THAT IS FINANCIALLY RESPONSIBLE?

IT’S LIKE MONEY IN THE BANK: HOW WE SPEND AND SAVE IN AMERICA “Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.” - Will Smith

BEFORE WE BEGIN: WHICH ONE FITS? 1.Which expense for the average American family is the highest: Transportation or Housing? 2. How much does it cost to raise the average American child to the age of 18 years? a. $100,000 b. $200,000 c. $300, Which of the following represents the average amount of money an American family puts away for retirement each year? : a. $1,000 b. $750 c. $400 4.What is the total amount of debt that is owed by Americans in the form of credit cards? a. $800 billion b. $1.5 trillion c. $2.4 trillion ANSWERS: 1.Housing: Averages about $1,300 per month OR $15,600 per year. 2.b. $200,000. ($222, 360 to be exact) By the way, that does not include college! 3.c. $400 per year. That means in 25 years, they will have $10,000 to live on. 4.a. $800 billion. Good news, sort of! Credit card debt has gone down a bit in the last three years. Bad news: We still have $800 billion dollars worth of debt just on our credit cards!

FAMILY BUDGET EXERCISE

THE MAGIC AMOUNT: $3,708.00

AN ECONOMIC REALITY CHECK