1. FACTORY SHOALS MIDDLE SCHOOL MR. L. SMITH

2. Agenda Message Agenda Message: Personal $ Management Vocabulary Quiz is Thursday May 7 th. Social Studies Progress Report goes home next Monday. Standard: Standard: Explain personal money management choices in terms of income, budgeting, savings, spending, credit, and investing. Essential Question for Tuesday May 5 th : Essential Question for Tuesday May 5 th : What average percentage rates should be used for a household budget? Warm-up: Warm-up: List three things that you need in order to make an effective budget. Today We Will: 1. Personal Money Management- Household Budgets 2. Using a Pie Graph Worksheet – Classwork

3. E.Q. Answer for Tuesday May 5 th : Housing – 30%Savings – 10% Food - 20%Clothing – 10% Transportation – 12%Entertainment – 4% Medical - 12%Just In Case – 2% Warm-Up: 1. Amount of income 2. Amount of money going out (Needs) 3. Knowledge of how you can make adjustments or changes in your budget if needed

4. Agenda Message Agenda Message: Personal Money Management Vocabulary Quiz is TOMORROW! May 7 th. Social Studies Progress Reports go home Monday, May 11 th. Standard: Standard: Explain personal money management choices in terms of income, budgeting, savings, spending, credit, and investing. Essential Question for Wednesday, May 6 th : Essential Question for Wednesday, May 6 th : What is “Gross Income”? What is “Net Income”? Warm-Up Warm-Up: What is the very first item you need to know before developing a budget? Today We Will: 1. Personal Household Budget 2. Gross Income & Net Income

5. E.Q. Answer for Wednesday May 6 th E.Q. Answer for Wednesday May 6 th : Gross Income is what you are paid “before” taxes and deductions are taken out. Net Income is what you actually receive in your pay check “after” taxes and deductions are taken out. Warm-Up: The first item you need to know before developing a budget is how much “income” you have.