Intro to Savings Tools

EQ - How would you choose the best savings tool to help meet your financial goals?

1. Activator - List what you know about savings tools
2. Graphic Organizer
3. Savings Tools PowerPoint
1. Savings Tools PowerPoint (PPT)
2. Savings Tools PowerPoint (pdf)
1. Intro to Savings Tools
2. 4 Types of Savings Tools
3. Review of Liquidity
4. Characteristics of Savings Tools
4. AP - Collaborative Pairs
1. Create an Infographic that includes details on each of the 4 savings tools
1. Name of savings tools
2. Characteristics of each savings tool
3. Liquidity and Interest Rate expectations
5. TOD - Muddy Points

*Intro to Check Register*

Intro to Depository Institutions

EQ - How can bank accounts benefit me?

1. Activator – How does the banking system work
1.  Draw and label a picture of how you believe the banking system works
2. Chalk Talk – How banks work
3. AP – Update your picture and summarize how banks work on the back of your paper
4. Activator – Money Matters (YouTube music video)
1. Active Reading TPS - I'm the Biggest Boss (of my money)
2.  Discussion Question - Why is it important to open a bank account?
5. AP – Reading Response Questionnaire
1. What are savings and checking accounts, and how do they differ?
2. How can opening a bank account help you learn to budget? Why is this important, especially if you use a debit card?
6. Discussion Question - How do you know which bank is right for you?
7. Shared Inquiry - Did You Know
1. Identify unknown words
2. Identify questions you have
3. Discussion 
8. AP - Top 3 - Identify and Rank
1.  Students partner up to list as many reasons as they can to explain why bank accounts are important.
2. Groups will list reasons on the board and then explain why they believe their group has the best reasons.
3. TOD - Students will individually rank their top 3 reasons that teens should learn about banks and bank accounts?

Homework - Complete the Note Taking Guide and be prepared to use the information tomorrow in class.  Intro to Depository Institutions PPT - CLICK HERE FOR THE PPT

Budgeting Practice

Using the example from class, complete a budget.  Be sure your income equals your expenses.

George works as a customer service representative and earns $33,000 per year after taxes.  He has two savings accounts; one at a credit union and the other at a local bank.  These accounts provide him with interest of $135 and $105 interest respectively.  George just recently purchased a new car and owes $400 per month for his car payment.  The car insurance company charges $185 per month and he estimates his upkeep and maintenance will cost him $50 a month.  George rents a one bedroom apartment in a choice location for $950 per month.  His utility bills cost him $225 per month.  In addition, George pays $65 per month to park his car in a secured lot.  George pays $125 per month for the latest iPhone and $125 for the Comcast Triple Play.  His medical and dental insurance plans cost him $175 each per month.  He shops frequently and spends $150 per month on clothes and $200 per month on groceries.  Georges uses $125 of gasoline each month and uses $80 for dining out.  He estimates his miscellaneous monthly expenses are $150.

Evaluating a Budget

EQ - How do I evaluate and improve a budget?

1. Activator - TPS: Mint.com Budgeting Gadget
2. Evaluating a budget
1. Sample Budget *
2. Review Control Systems
3. The evaluation process* (Together)
3. AP - Financial Advice - What advice would you give to Sonny?  Be specific and detailed *
1. Google Docs Instruction Sheet
2. Letter Directions
3. Composition Work Time
4. Self-Evaluation
1. What kind of spender are you? 
2. How can the result of this quiz help you when planning your personal budget?
5. TOD 
1. Review the Unit Map
2. Develop a Strengths and Weaknesses Chart to assess your current comprehension of Unit 4 objectives
3. How can you use this information to prepare for your Unit Exam

Directions

1. Review your letter to Sonny.
2. Identify all comments that apply to your letter.
3. Copy and paste the comments that apply to the bottom of your letter.
4. Revise your letter to make it amazing!
5. When you have finished, please review the Unit Map and begin preparing a study guide.

Sonny Advice Letter Comments 

1. Organize your multiple ideas into multiple paragraphs (1 main idea per paragraph).
2. Watch out for run on sentences.
3. How can calculating the percentages spent on each category better convince Sonny to follow your advice?  Implement these calculations when necessary.
4. How does your recommended control system work?  Can you provide a description of what this may look like for Sonny?
5. Check your spelling and grammar (sometimes even spell check misses errors). 
6. You convinced me to review some items in my budget!  
7. You may want to be nicer to Sonny; its only his first time budgeting.
8. Great job!  Sonny is lucky to have you!
9. With some revision, this will be the best letter of advice ever!
10. Feel free to ask for help if you need it.  I will gladly meet with you during a Tribe Time to help you with this composition.

Developing a Budget

EQ - What are the steps used to develop a budget?

1. Activator: Test your knowledge (TPS)
• Spending Plan Note Taking Guide
2. Application Activity - "The Brown Family Scenario"
• Steps 1-3
3. Discussion & Review
4. Intro - Control Systems
1. What?
2. Why?
5. Complete Steps 4-5
6. Discussion & Review
7. Assignment - Complete pages 25-26

EQ - How is a real life budget created, evaluated, and adjusted?

1. Activator - TPS Splashdown
2. AP - Collaborative Teams - Questionnaire
1. What are the similarities between the Brown Family's expense allocation and the average expense allocation?
2. What are 2 differences?
3. AP - Debriefing - White Board Response
1. What 3 steps of budgeting are for PLANNING?
2. Which category allocation from the scenario most alarms you?
3. What makes it alarming?
4. Activator - TPS: Mint.com Budgeting Gadget
5. Evaluating a budget
1. Sample Budget *
2. Review Control Systems
3. The evaluation process* (Together)
6. AP - Financial Advice - What advice would you give to Sonny?  Be specific and detailed *
1. Google Docs Instruction Sheet
2. Letter Directions
3. Composition Work Time
7. Self-Evaluation
1. What kind of spender are you? 
2. How can the result of this quiz help you when planning your personal budget?
8. TOD 
1. Review the Unit Map
2. Develop a Strengths and Weaknesses Chart to assess your current comprehension of Unit 4 objectives
3. How can you use this information to prepare for your Unit Exam

Intro to Budgeting

Unit Exam

EQ - How are income and expenses classified?

EQ - How is a budget created?

1. Activator - Chalk Talk
1. What do adults pay for on a monthly basis?
2. White Board Groups - Estimations
2. Mini Lesson - Cash Flows
3. Spending Plan - Advanced Organizer
4. Spending Plan - PowerPoint
• Classifying Income and Expenses  (LEQ 1)
• Spending Plan Development Process (LEQ 2)
• Components of Spending Plans  (LEQ 2)
• Identifying Spending Plan Components (LEQ 1 & 2)
5. TOD - Today's Meet (CLICK HERE FOR LINK)
• List the steps of creating a spending plan.
• Muddy Points

Completing Your Tax Return

Calculating Pay Quiz

EQ - How do I prepare a tax return?

1. Activator: Costs of doing taxes
2. Vocabulary Preview - The Language of Taxes
3. Start Here
4. Simulation 1 - W-4
5.  Simulation 2 - W-2
6. Simulation 3 - W-2 & 1099 INT - 1040EZ 
7. 1040EZ Form 
8. Tax Table
9. 1099-Int Form
10. Table Quiz - Key Terminology
11. Completing a 1040EZ

Day 1

1. Calculating Gross and Net Pay Quiz
2. Cost of Doing Taxes
3. Language of Taxes
4. Timeline
5. Review and Complete the W-4
6. If time permits, begin Day 2

Day 2

1. Terminology Quiz
2. Introduction to the W-2
3. Introduction to the 1040EZ
4. Class Collaboration - Tax Return Attempt #1

Day 3

1. 1040EZ Components Quiz
2. Collaborative Pairs - 1040EZ with 1 W-2
3. Discussion of impact of multiple jobs
4. Introduction to Interest Income
5. Collaborative Pairs - 1040EZ with 2 jobs and Interest Income

Day 4

1. Q&A 
2. Individual Quiz
3. Study Guide Development
4. Test Next Class

Day 5 

1. Unit 3 Exam

FORMS

W-4

W-2

1040EZ

Interest Income

Tax Table/Instructions
I-9

Calculating Pay

EQ - What considerations factor into the calculation of net pay?

1. Activator - KWL Paycheck Withholdings
2. Paycheck Terminology Review
1. Hourly vs. Salary
2. Defining Pay Periods
3. Social Security
4. Medicare
5. FICA
3. Getting Paid Math *TPS
1. Calculation Information
2. Practice Problem
4. KWL Update
5. TOD - Half sheet summary
1. Formulate an answer to the EQ

QUIZ NEXT CLASS

Minimum Wage Laws Part 2

You will have 20 minutes to complete your letter to your state representative.

EQ - How do current minimum wage laws impact an individuals personal finances?

1. Activator - Homework Recap
1. Know -  Write a short explanation (140 characters or less) of what you now know about minimum wage.
2. Discussion - How has your understanding of minimum wage changed as a result of the reading and discussion?
3. Muddy Points - What elements of minimum wage are you still working to understand?
2. Developmental Activity - Can You Survive?
1. TPS - Before you begin
1. Explain your opinion of a job that will pay your $9/hr.
2. Would you be able to provide for yourself at this hourly rate?
2. The Experience - Can You Survive?
3. TPS - What was this experience like for you?
4. Has your perception changed?  Why or why not?
3.  Additional Reading - Federal Minimum Wage Laws
4. Assessment - Compose a letter to your state representative
1. Identify your state rep.
2. Discuss the minimum wage debate
3. Propose a recommendation for how your rep should vote on minimum wage law changes
4. Provide evidence to support your recommendation

Minimum Wage Laws

EQ - How do current minimum wage laws affect your pay?

1. Activator: LINK
1. List - TPS- What do you know about minimum wage?
2. Inquire - TPS - What questions can be formed from this list?
3. Read "The Impact of $9 Minimum Wage"
2. Collaborative Groups - Discussion - What's the big deal about minimum wage?
1. Note - Make Notes about your discussion.  Look for answers to our inquiry questions, connections to what you already know or heard about in our discussion, and new questions that arose as you read.
2. Know -  Write a short explanation (140 characters or less) of what you now know about minimum wage.
3. Discussion - How has your understanding of minimum wage changed as a result of the reading and discussion?
4. Muddy Points - What elements of minimum wage are you still working to understand?