Managing Checking Accounts

EQ - What are the steps to responsibly manage a checking account?

1. Introduction to Checking Accounts
2. Making a Deposit
1. Elements
2. Guided Practice
3. Try It
3. Importance of Accurate Record Keeping
4. Writing Checks
1. Elements
2. Guided Practice
3. Try It
5. Simulation Assessment - Part 1 of the simulation
1. Introduction
2. Individual practice
3. Muddy Points
6. Bank Reconciliation
1. Introduction
2. Guided Practice
3. Try It
7. TPS - Formulate a step-by-step process 
8. Simulation Assessment - Part 2 of the simulation
9. Muddy Point Review
10. Activator - Splashdown the two formulas for calculating interest
11. Homework Review
12. Practice Problem
13. Quiz

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. 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?
5. Discussion Question - How do you know which bank is right for you?
6. Shared Inquiry - Did You Know
1. Identify unknown words
2. Identify questions you have
3. Discussion 
7. 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

Sonny Letter Review

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 finalize your Baby Budget Poster.

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.

Creating A Budget

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 
• List the steps of creating a spending plan.
• Muddy Points
6. Try It - Budgeting Practice

DO NOW:

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.

Intro to Unit 4

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 
• List the steps of creating a spending plan.
• Muddy Points

Completing Your Tax Return

EQ - How do I file my tax return?

1. Activator - The cost of tax returns
2. Tax Timeline
3. Form Identification
4. Together - Complete a 1040
5. Collaborative Pairs - Complete a 1040
6. Muddy Points
7. Individual Practice
8. Create a study guide for Unit 3 Exam

Minimum Wage Debate

EQ - How do current minimum wage laws impact an individual's personal finances?

1. Activator - Discuss "List" & "Inqure" sections from yesterday's homework
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. Homework 
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?

THURSDAY & FRIDAY

1.  Reading & Resources 
1. Federal Minimum Wage Law
2. The Dream of a $15 Minimum Wage
3. A Case Against Minimum Wage
4. 4 Reasons Not to Increase Minimum Wage
5. The Experience - Can You Survive?
2. Continuation: LINK
1. Note - Actively Read the articles listed above (You may print them if you'd like)
1. Make Notes about your discussion.  
2. Look for answers to our inquiry questions, connections to what you already know or heard about in our discussion.
3. Write new questions that arose as you read.
2. Know - Summarize what you have learned from these readings
1. Write a short explanation of what you now know about minimum wage.
3. Assessment - Compose a letter to your state representative
1. Minimum Wage Pay Calculations
1. Calculate the Annual Gross Pay for a person earning minimum wage.
2. Identify your state rep. - CLICK HERE
3. Write a letter to your state rep. that includes the following:
1. Discuss the minimum wage debate: What is the issue, why does it matter, etc.
1. Use evidence from your readings and use appropriate citations.
2. Discuss both sides of the issue using and provide evidence with citations.
2. Propose a recommendation for how your rep should vote on minimum wage law changes
1. Provide evidence to support your recommendation
4. Discussion - How has your understanding of minimum wage changed as a result of the reading and discussion?
5. Muddy Points - What elements of minimum wage are you still working to understand?

PART 2

WHEN FINISHED:

EQ - How do I prepare a tax return?

1. Activator: Costs of doing taxes - Answer as a comment to this post (select anonymous, type your first name and then your response)
2. Vocabulary Preview - The Language of Taxes - Take notes in your class notebook
3. Start Here - Complete Modules 1-13