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center0004227195-571500Search Bar: CACEconomicEducationClick -> Money Wise Teen Lessons00Search Bar: CACEconomicEducationClick -> Money Wise Teen LessonsNAME__________________________________________________________________ Money Wise Teen Lesson 1: Scarcity and AlternativesDirections: Read, listen, and follow along to the 7-8 minute online lesson and fill in the notes and answer the questions with the information provided from the video. (1:43) Wedding Costs:a. Flowers = $___________b. Caterer = $___________c. DJ = $___________d. Dress = $___________e. Total cost of wedding = $___________f. Total charged to credit cards = $___________Paychecks:a. Gross every two weeks = $___________ b. List the two biggest tax deductions from the paychecksi. ii. c. Take home pay every two weeks = $___________d. How much money was taken out of each paycheck? = $___________ (3:50) Gas: 132 gallons per month @ $________/gallon = total of $__________ Who or what was the AC ran for at their apartment? __________________________ (5:13) What happened to Jerome as a result of declining $3,200/year car insurance? (5:35) How much did Bill charge Jerome for carpooling? $______________/week(7:38) – Alternatives: ________________ ____________________ of satisfying ___________. Summary:a. Instead of looking for ___________ ______________________ ways to live, Paula and Jerome chose to ignore ___________________ and attempted to have it all. Suppose you were in Paula and Jerome’s situation. In paragraph form, write about at least 3 spending decisions that you would have done differently (chosen an alternative for) than Paula and Jerome and why. Would it have saved you money? Would you have taken scarcity into account? Would your opportunity cost have been lower?4227195-802005Search Bar: CACEconomicEducationClick -> Money Wise Teen Lessons00Search Bar: CACEconomicEducationClick -> Money Wise Teen LessonsNAME ____________________________________________________________________________ Money Wise TeenLesson 2: Budget and Opportunity CostDirections: Read, listen, and follow along to the 7-8 minute online lesson and fill in the notes and answer the questions with the information provided from the video. (20 sec) Opportunity Cost: The best opportunity _________ _______________ in making a decision. Budgeting: Planning __________ and _________________________. (1:15) Net Monthly Income: $_____________Less Monthly Saving $ ________________Available for Spending: $________________ (2:15) Round 1 Budgeta. Projected Costs (in red) = $__________ (2:52) Transportation a. Spending $___________ a monthb. Cost for one car: $350 (4:05) Cutting Costs:a. List 2 or 3 of the given expenses that Derek and Jenny decide to cut from their budget:i.ii. (5:30) What was Jenny’s answer to saving money after making Round 3 of the budget? _____________________________________________________________________________________________________a. Total Summer Income: $__________b. Projected Summer Spening: $_____________c. Remainder divided by 9 months: $________________ Summarya. There is no such choice as a ___________ _________________.b. Budgeting is a way to identify ________________ and _______________________ and choose wants that are ___________________ important to you. ................
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