1. Financial Literacy Economics

2. AIM: How can we use budgeting and investing in our lives? Do Now: Take a copy of the project and hole punch the packet if you would like Look through it and write down any questions you have If you need to take the multiple choice speak to me If you need to finish the Long Answers—we will be working on them on Tuesday

3. AIM: How can we use budgeting to help us? Do Now: ---Make up for multiple choice and Long responses For those taking the multiple choice take a copy of the test and a scantron For those finishing the long response take your answer sheet or take out a sheet of loose leaf Finish your recording for Stocks When finished with the test start researching and writing down your description of your apartment for next year Be sure to begin writing down your spending if you have not done so

4. AIM: How can we use budgeting to help us make our “BIG PLAN” for next year? Do Now: Make sure you have chosen 4 stocks and recorded their per share price You also should have started apartment hunting and began to estimate your fixed expenses for next year Take a copy of the Exit slip and sit next to your partner. Fill in the sheet for Names, period and Do Now 1. What is the biggest question you have about life after high school?—Discuss with your partner and answer on exit slip---I will be collecting this at the end of the period

5. AIM: How can we check our stocks? Do Now: Look up the price per share for your four stocks Multiply the share price X # of shares purchased for each stock Add up the total value of all four stocks plus your extra cash Subtract your week 1 Total from your week 2 total—Note how much money you made or lost Be sure to record your questions and ideas for your reflection and pamphlet Work on your apartment hunting and your big plan for next year

6. AIM: How can we use a budget to buy or lease a car? Do Now: Create list of pro’s and cons to buying a car Write down any questions you have about the car buying process Write down any questions you have about leasing a car

7. http://www.edmunds.com/honda/civic/2015/ cost-to-own/ http://www.edmunds.com/honda/civic/2015/ cost-to-own/ http://www.cars.com/go/advice/financing/cal c/loanLeaseCalc.jsp?mode=full http://www.cars.com/go/advice/financing/cal c/loanLeaseCalc.jsp?mode=full https://www.truecar.com/#/

8. Financial Literacy Understanding the current state of the economy and how YOU can best earn, save and spend your money Understanding DEBT, CREDIT and INVESTMENT Making the best-informed choices

9. Spending Keep track of your spending Write down each purchase you make in a two week period Analyze your spending – Are there ways to cut spending? – How?

10. Budgeting Make a budget – Income – Current savings/liquid $ – Discretionary Spending vs. – Required (“overhead”) Spending Phone bill/internet service? Car insurance/payment? Food? Rent? Other?

11. Renting an Apartment https://www.youtube.com/watch?v=KcLAq_c NYX4 https://www.youtube.com/watch?v=KcLAq_c NYX4

12. Buying a Car http://video.about.com/frugalliving/Cheap- and-Quality-Car-Tips.htm http://video.about.com/frugalliving/Cheap- and-Quality-Car-Tips.htm http://video.about.com/frugalliving/How-to- Negotiate-a-Car-Price.htm http://video.about.com/frugalliving/How-to- Negotiate-a-Car-Price.htm http://video.about.com/frugalliving/Test- Drive-a-Car-Tips.htm http://video.about.com/frugalliving/Test- Drive-a-Car-Tips.htm

13. Commuting Costs Railroad/Subway Airplane Car/gas/insurance/ maintenance Tolls/Parking fees TIME

14. Insurance Health Life Auto – http://www.cbsnews.com/8301-505144_162-57433982/how-men-can-beat-gender-bias-in-car-insurance/ http://www.cbsnews.com/8301-505144_162-57433982/how-men-can-beat-gender-bias-in-car-insurance/ – http://www.generalautoinsurance.com/how-to/insure-a-teen-driver http://www.generalautoinsurance.com/how-to/insure-a-teen-driver – http://www.libertymutual.com/auto-insurance/teen-driving/car-basics-and-safety/teen-driving-accidents http://www.libertymutual.com/auto-insurance/teen-driving/car-basics-and-safety/teen-driving-accidents Other individual policies

15. Auto Insurance in NY It doesn’t matter if a vehicle is registered in a teen’s name or the parent’s name, in the state of New York you must carry: – minimum liability coverage in the amounts of $25,000/$50,000 for bodily injury – $25,000/$50,000 uninsured/underinsured (UM/UIM) motorist bodily injury – $10,000 for property damage – $50,000 personal injury protection (PIP). – Because the risk of having an auto crash is significantly higher during a teen’s first year behind the wheel, New York auto insurance companies recommend purchasing higher amounts of coverage than the legal limits. – If you plan to add a teen driver to your existing auto insurance policy, instead of purchasing a separate policy, keep in mind that your annual rate will increase anywhere from $1,200 to $4,900 a year. The average increase is around $2,171 a year.

16. Saving Long-term: at least 10% of your income should be set aside for long-term savings – Certificates of Deposit – Bonds – Mutual Funds/IRA’s, etc. for retirement Short-term: another 5-10% of your income should be in an account to be used in emergencies or unplanned, but necessary, purchases – Savings Account – Checking Account (Debit Card)

17. Checking Account http://video.about.com/banking/Learn-the- Parts-of-a-Check.htm http://video.about.com/banking/Learn-the- Parts-of-a-Check.htm http://video.about.com/banking/Don-ts-for- Writing-a-Check.htm http://video.about.com/banking/Don-ts-for- Writing-a-Check.htm

18. Managing Debt Loans – Car loans – Personal loans – Student loans – Mortgage – Business loan Credit Cards – Know the terms before you sign up! – Calculate the fees and interest rates – http://www.creditcards.com/credit-card-news/help/6-consider- before-choosing-picking-credit-card-6000.php http://www.creditcards.com/credit-card-news/help/6-consider- before-choosing-picking-credit-card-6000.php – http://www.consumer.ftc.gov/media/video-0023-what-identity-theft http://www.consumer.ftc.gov/media/video-0023-what-identity-theft – http://www.consumer.ftc.gov/media/video-0024-what-if-youre- victim-identity-theft http://www.consumer.ftc.gov/media/video-0024-what-if-youre- victim-identity-theft

19. Student Loans Federal Perkins Loan – Based on need, awarded through the college, subsidized, 5%, 10 yr repayment Federal Stafford Loan (either Direct or Private) – Subsidized Gov’t pays interest while you are in college (4.66%) Must show financial need Begin paying 6 mos. after graduation/standard 10-yrs to repay – Unsubsidized You pay all the interest, after you graduate (4.66%) Begin paying 6 mos. after graduation/standard 10-yrs to repay PLUS Loans (Parent Loan) 7.2% plus fees; begin repayment 60 days after disbursement; up to 10 yrs. To repay Private Loans, usually most costly, based on credit score, added fees – use only when maxed out on Stafford Loan http://www.finaid.org/calculators/loananalyzer.phtml

20. Paying for Utilities Cable Internet Phone Electric Oil/gas/heat Water Other

21. Taxes Income tax Sales tax Property tax Other (city, village, etc.)

22. Finding a Summer Job http://today.msnbc.msn.com/id/30307342/ns /today-money/t/bleak-market-teens-must- hustle-find-work/ http://today.msnbc.msn.com/id/30307342/ns /today-money/t/bleak-market-teens-must- hustle-find-work/