2. Created by Camille Krum Help! I’m out of money! Personal Finance Basics

3. Activity: How Much Do They Make?

4. SpendingCredit Earning Careers IncomeCredit Cards Expenses Variable FixedDifferential

5. Earning Careers

6. Learn and Earn High School Degree Associate Degree Bachelor Degree Masters Degree Doctorate Degree $18,571$26,536$40,387$48,872$60,729 How Education Pays: For the Rest of Your Life

7. How much is your time worth? Salary YearSalary Week Benefits=40 % Total Salary Total WeekValue Per Hour Value Per Minute $15,000$288.46$115.38$403.84$10.10$0.17 $20,000$384.62$153.85$538.47$13.46$0.22 $25,500$480.77$192.31$673.08$16.83$0.28 $30,000$576.92$230.77$807.69$20.19$0.34 $40,000$769.23$307.69$1,076.92$26.92$0.45 $50,000$961.54$384.62$1,346.16$33.65$0.56 $60,000$1,153.85$461.54$1615.39$40.38$0.67 $70,000$1,346.15$538.46$1,884.61$47.12$0.79 $80,000$1,538.46$1,884.61$2,153.84$53.85$0.90 $90,000$1,730.77$692.31$2,423.08$60.58$1.01

8. Activity Do you get tired of going to class every day? Complete the assignment and see what the value of a day’s education is over a 40-year work life. How much is attending each class really worth? How Much is Class Attendance Worth?

9. Spending Income Expenses Variable FixedDifferential

10. Lifestyle costs Where you live Clothes Food Transportation Entertainment Vacations Other costs-car repairs insurance

11. Reality Check Take the reality check quiz online to see what your life style choice requires you to earn per hour. URL: http://www.jumpstart.org/madmoney/pgv_money_rc_main.html

12. Activity: Cookie Monster Select student to be employee Select student to be State Tax collector Select student to be Social Security Tax collector Select student to be Federal Tax collector Select student to be Health Insurance collector Select student to be Life Insurance collector Select student to be Donation collector

13. REALITY BITES Do you know where your money goes? Identify your spending traps— For the next two days keep a spending log. Record everything you spend.

14. Financial Goals Short term goal—pay for immediate needs such as school, entertainment, clothes, etc. Medium term goal—college education, cars, vacation. Long term goal—retirement plans, change in career, travel

15. Activity: Road Map to Spending Divide into groups of three. In two minutes list as many items as they can in the following categories: Fixed Expenses Variable Expenses Differential Expenses Each student completes A Road Map For Spending

16. Budget Go to computers in groups of three—if not enough computers for all students. Go to web site and select career and salary from list. Go to “Where does your salary go” and complete the activity.

17. Credit Credit Cards

18. Three C’s of Credit Character—borrower’s willingness to pay you based on past history paying back loans Capability—ability to pay back money borrowed Collateral—property used to cover amount owed if fail to pay back money –Group students to do scenarios

19. A Credit Check Perhaps you have not developed a personal credit history, but you do have a personal education performance history that reflects similar behavior patterns. On a piece of paper, answer the following questions: 1.Number of times you have missed class this semester. 2.Number of times you have been tardy this semester. 3.How many times have you turned in late assignments this semester.

20. 4.How many times have you turned in incomplete assignments this semester? 5.How many times have you not turned in an assignment at all this semester? 6.How many times have you been asked by the teacher to change or improve your behavior in class this semester? 7.How many times have you forgotten to bring the required materials (pencil, disk, notebook, etc.) to class this semester?

21. TOTAL (Add the numbers listed for 1-7 above) How did you do? 4 or less…………… Credit Granted!! 5o-7 ……………… You are going to need a cosigner 8 or more………… CREDIT DENIED!

22. FALSE

23. TRUE

24. FALSE

25. TRUE

26. FALSE

27. TRUE

28. FALSE

29. TRUE

30. FALSE

31. TRUE

32. Credits and Referencs www.themint.org www.jumpstartcoalition.org