While shopping at Foot Locker you found a pair of shoes for $84.50, with a sign that said additional 15% off taken at the register. What is the final price.

Slides:



Advertisements
Similar presentations
What Can You Do With Money? Family Economics & Financial Education.
Advertisements

Statement of Financial Position
Chapter 2: Saving This chapter emphasizes the importance of saving and explains the three reasons to save: emergencies, large purchases, and wealth building.
Discounted Cash Flow Valuation
Time Value of Money, Inflation, and Real Returns Personal Finance: a Gospel Perspective.
Discounted Cash Flow Valuation
Unit 5 Financial Literacy Read each definition carefully and become familiar with it as we will use the words in class as part of our discussions through.
Measuring Your Financial Health and Making a Plan
Credit Costs TODAY YOU WILL... EXAMINE THE COSTS OF CREDIT. 1 ©2014 National Endowment for Financial Education | Lesson 2-2: Credit Costs.
Saving and Investing 10. Saving and Investing Saving Savings are that part of our income that we do not spend. 10.
Bell Ringer Linda bought a new sewing machine for $ (no tax) and then returned it for one that was $ (no tax). Figuring 6% sales tax, what.
Cash and Receivables – Chapter 7
Time Value of Money Problems
Understanding Your Credit Card.  More than eight percent of American households owe more than $9,000 on their credit cards.  The average college student.
Section 4C Savings Plans and Investments Pages
Financial Maths Chapter A and B – purchasing goods (simple interest) and buying on terms.
1 The Balance Sheet. 2 As we think about our financial goals, we may want to make plans so we can get where we want to go. A useful tool in this process.
Financial Literacy 101 Todd Jorns
Do Now 4/23/10 Take out HW from last night. Take out HW from last night. Practice worksheet 7.6 odds Practice worksheet 7.6 odds Copy HW in your planner.
Jeopardy Category 1 Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $200 Q $300 Q $400 Q $500 Category 2 Category 3Category 4 Category 5 Final Jeopardy!
Today’s Lesson Discuss yesterday’s videos Discuss Emergency Funds, Roommates, and Budgeting Practice Test Problems Tax Forms Things you will need to bring.
Financial Literacy 101 Todd Jorns
My Future As I Know It Jennifer Smith 8 th Grade End of the Year Budgeting Project.
SIMPLE INTEREST Simple interest is the amount paid for the use of money.
Statement of Financial Position
Bell Ringer You ordered a meal at Taco Bell for you and your date. The total of the meal was $ You gave the cashier $ How much change will.
PERSONAL FINANCE. Rule of 72 Albert Einstein is credited with discovering the compound interest rule of 72: What is it? 72 / interest rate = # of years.
Do Now 2/21/12 Take out HW from last night. Take out HW from last night. Text p. 248, #7-16, 19 & 20 Text p. 248, #7-16, 19 & 20 Copy HW in your planner.
Financial Literacy 101 Todd Jorns
Saving Money The Why, When, and How. Pretest 1. True or False: Only those who are financially well off can save. 2. True or False: The best place to save.
Savings Introduction The Essentials to Take Charge of Your Finances Family Economics & Financial Education.
A Day in the Life of an Adult A Webquest for Middle School Math Students Created by Aaron Meekins Introduction Evaluation Task Conclusion.
STATEMENT OF FINANCIAL POSITION ADVANCED LEVEL G1 © Take Charge Today –August 2013– Statement of Financial Position – Slide 2 Funded by a grant.
Board of Governors of the Federal Reserve System Selected Findings from the Survey of Household Economics and Decisionmaking Dave Buchholz Federal Reserve.
Financial Literacy 101 Todd Jorns
Do Now 1)How do people pay their bills once they retire and stop working? 2) Why should we talk about retirement in high school?
Do Now 2/29/12 Take out HW from last night. Take out HW from last night. Practice worksheet #6.5 & Punchline worksheet #96 Practice worksheet #6.5 & Punchline.
Bell Ringer #7 – 5/22/09 1. What do you think the difference is between a “job” and a “career”. 2. Name one “career” that you would like to have. 3. Name.
My Future As I Know It Jennifer Smith 8 th Grade End of the Year Budgeting Project.
CREDIT 101 Top Ten Tings to Know!. Drowning in Credit Card Debt Americans are loaded with credit card debt. The average American household with at least.
Sales Tax and Discount. Sales tax and discount Sales tax - is an additional amount of money charged on items people buy. The total cost is the regular.
A item is marked 25% off and then you are given an additional discount of 10%. What will you pay? Are receiving a total of 35% off? Explain why or why.
Objectives: Determine the Future Value of a Lump Sum of Money Determine the Present Value of a Lump Sum of Money Determine the Time required to Double.
Checking Savings BANKING. Checking Account 90% of transactions involving money are made through some form of debit.
Stewardship Lesson 2. SMART Goals Specific Measurable Achievable Resources Timeline Write them down Short Term Long Term Find accountability – Share goals.
 Why Save?  Emergency Funds  Liquidity Needs  Short-Term Goals  Long-Term Goals  Compound Interest (Compounding):  Interest is added to principle.
An Overview of Personal Finance The Time Value of Money –Money received today is worth more that money to be received in the future –Interest Rates Nominal.
Bell Ringer  Where do you see yourself in 15 years?  Be specific  Relationship status:__________________  Kids: ___________________  Pets: ___________________.
What is Interest? Discuss with a partner for 2 minutes!
Bell Ringer #12 – 5/17/ What do you think the difference is between a “job” and a “career”. 2. Name one “career” that you would like to have. 3.
Finding a percentage of an amount….. without a calculator!
Making the Minimum Payment Why it is exactly what the credit card companies want you to do.
BUDGETS AND BALANCE SHEETS Chapter 4. OBJECTIVES Explain the steps involved in creating a budget Describe the steps involved in creating a personal balance.
What Is Money?  Serves ALL the following purposes:  Medium of exchange: accepted as payment for goods and services (and debts).  Store of value: can.
Financial Literacy 101 Todd Jorns
Personal Financial Planning.  Establishing a plan for how you spend your money can help you make wise purchases. What factors help you decide what to.
Good Morning, 8 th Graders! Today’s Agenda: - Intro to Credit / Credit Notes / Funny Money Video - Credit Scores - BrainPop Video/Quiz - Computer Time.
RED 2012 BOOK. 4.3 Activity You can find 10% and multiply by the correct amount.  Ex: 40% off of $50.00  10% is $5.00.  $5.00 X 4 (for 40%) = $20.00.
Factors that will affect the Success of Financial Goals “Our life is full of expectations and Goals I have presented the risks associated with the Goals,
Please write down the 4 questions. Use the chart on the next slide to answer. We will turn in Warm-ups on Friday… 1.If you start saving at the age of 20,
Statement of Financial Position
Statement of Financial Position
Percent Test Review Wednesday, May 22, 2013
Statement of Financial Position
7.6.7 Simple Interest.
Statement of Financial Position
Statement of Financial Position
Calculating Credit Card Interest
DEVELOPING YOUR FINANCIAL STATEMENTS AND PLANS
Presentation transcript:

While shopping at Foot Locker you found a pair of shoes for $84.50, with a sign that said additional 15% off taken at the register. What is the final price for the shoes?

Original Price of Shoes * Discount = Amount Discounted $84.50 * 0.15 (15%) = $ rounds to $ Original Price of Shoes – Amount Discounted = Final Price of Shoes $84.50 – $12.68 = $71.82

Announcements / Attendance / Work on Bell Ringer - (5 minutes) Review from yesterday - (2 minutes) Dave Ramsey Video - (11 minutes) Take notes in your workbook Savings By Nation Activity – (15 minutes) Dave Ramsey Video – (13 minutes) Take notes in your workbook Financial Calculators Activity – (20 minutes)

What is Baby Step #1? The United States has a savings rate of what percent? What does this mean? Money is amoral. What does the term amoral mean? What type of account should you keep your emergency fund in? Why? What are three reasons we save money? Instead of borrowing to purchase, we should pay by cash using what type of approach? What does this approach mean?

As we watch the first part of the Dave Ramsey video – please take notes in your workbook.

The purpose of this activity is to analyze saving habits around the world, to evaluate information from charts, and compute percentages. Using the chart at the top of the page and our discussions based upon savings answer the six questions in complete sentences. WE WILL GRADE THESE IN 10 MINUTES.

1.15.6% % compared to our -0.6% 3.0% 4.Mean – Average = 8.9% Mode – Most Often = 7% Median – Middle # - 9.5% 5. Japan - $5,400 – Germany - $4,800, Britain - $2,800, France - $6,000, US - $ High prevalence of credit card debt, aggressive marketing, people think stuff makes them happy, Society’s views on tangible products.

As we watch the second part of the Dave Ramsey video – please take notes in your workbook. Pay close attention you will have an essay question on Thursday that covers this material.

The purpose of this activity is to understand the impact that time and rate of return has on savings, assess the lump sum needed to reach a specific investment goal, and to familiarize students with online resources. Select a goal such as how much money you want to have when you retire or 1. reach a specific age. Your job is to calculate what you need to save now in order to reach your goal. Then determine how much money you would have if you invested “x” each month for 10, 20, 40, and 50 years. TURN ACTIVITY INTO TRAY UPON COMPLETION.