1. 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)

2. Ending Balance: $

3. 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*

4. 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

5. 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

7. 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

8. Check Example
Target
Toiletry items
$72.58

9. 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

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

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