Consumer Education: March 2016

Thursday, March 24, 2016

Review / Catch-up / Get Ahead

Work on Budget Challenge, following these instructions pick up where you left off.

Take Surveys/Quizzes,
Update Budget Challenge Spreadsheet &
Schedule Payment of Bills

EverFi

Consumer Protection (2/5/16)
Investing (2/19/16)
Saving (3/4/16)
Banking (3/18/16)
Payment Types (4/8/16)
Credit Scores (4/15/16)
Higher Education (4/22/16)
Renting vs. Owning (4/29/16)
Insurance and Taxes (5/6/16)

Wednesday, March 23, 2016

Day 44 - Unit 2 Test Retake

Re-Take Unit 2 Test
Work on Budget Challenge, following these instructions pick up where you left off.

Take Surveys/Quizzes,
Update Budget Challenge Spreadsheet &
Schedule Payment of Bills

EverFi

Consumer Protection (2/5/16)
Investing (2/19/16)
Saving (3/4/16)
Banking (3/18/16)
Payment Types (4/8/16)
Credit Scores (4/15/16)
Higher Education (4/22/16)
Renting vs. Owning (4/29/16)
Insurance and Taxes (5/6/16)

Tuesday, March 22, 2016

Day 43 - Review / Catch-up / Get-ahead Day

Study for tomorrow's Unit 2 Test - Retake
Work on Budget Challenge, following these instructions pick up where you left off.

Take Surveys/Quizzes,
Update Budget Challenge Spreadsheet &
Schedule Payment of Bills

EverFi

Consumer Protection (2/5/16)
Investing (2/19/16)
Saving (3/4/16)
Banking (3/18/16)
Payment Types (4/8/16)
Credit Scores (4/15/16)
Higher Education (4/22/16)
Renting vs. Owning (4/29/16)
Insurance and Taxes (5/6/16)

Monday, March 21, 2016

Day 42 - Unit 2 Test

Study
Take Test
Work on Budget Challenge, following these instructions pick up where you left off.

Take Surveys/Quizzes,
Update Budget Challenge Spreadsheet &
Schedule Payment of Bills

EverFi

Consumer Protection (2/5/16)
Investing (2/19/16)
Saving (3/4/16)
Banking (3/18/16)
Payment Types (4/8/16)
Credit Scores (4/15/16)
Higher Education (4/22/16)
Renting vs. Owning (4/29/16)
Insurance and Taxes (5/6/16)

Friday, March 18, 2016

Day 41 - Review for Unit Test

Win in the Margins with extra income:

Lemonade Stand
Crafts Fair
Recycling
Baby Sitting
Swagbucks
tinyurl.com/uberbonuscode

Unit Test Review

Use the review questions below to study for your unit 2 test.

Projects

Work on Budget Challenge, following these instructions pick up where you left off.

Take Surveys/Quizzes,
Update Budget Challenge Spreadsheet &
Schedule Payment of Bills

EverFi

Consumer Protection (2/5/16)
Investing (2/19/16)
Saving (3/4/16)
Banking (3/18/16)
Payment Types (4/8/16)
Credit Scores (4/15/16)
Higher Education (4/22/16)
Renting vs. Owning (4/29/16)
Insurance and Taxes (5/6/16)

1) What does “If you aim at nothing, you’ll hit it every time” mean?

2) What are the 5 foundations of saving?

3) How much should a teenager keep in an emergency fund?

4) How much should an adult have in an emergency fund?

5) Where should you keep your emergency fund?

6) What are the key components of wealth building?

7) As discussed in class, what percentage of families are likely to face a major financial situation within any 10-year period?

8) Which phrase did Dave Ramsey use to describe spending small amounts of money repeatedly over time without giving it much thought?
9) “If something can go wrong, it will go wrong” is an example of:

10)   Which phrase represents a person figuring out how much they need for a future purchase and putting away a set amount each week until they have enough to pay for the item?

11)   When it comes to shopping, how does having money equal having power?

12)   What is it called when your interest makes interest?

13)   Which of David Bach’s books did your teacher suggest you read that will help you learn how to save?

14)   What are the consequences of overdrawing your checking account?

15)   For which category should you save for first?

16)      Approximately, how much money could you have if you didn’t smoke or drink expensive coffee throughout your lifetime and instead invest that cash in the stock market at a 12% annual rate of return?

17) The total value of goods produced and services provided in a country during one year is called:

18)   How is price related to the quantity of supply and demand?

19)   What occurs when money is withdrawn from a bank account and the available balance goes below zero?

20)   To match your bank statement with your checkbook is called a:

21)   What is the secret to building wealth?

22)   What does "Pay yourself first mean"?

23)   What typically the largest spending category for most Americans?

24)   When should a budget be prepared?
25)   What is the primary purpose of preparing a budget?
26)   How often should a budget be reviewed?

27)   What should you budget for first?

28)   What are some examples of fixed, non-discretionary expenses?

29)   What are some examples of discretionary expenses for most Americans?

30)   What is a zero-based budget.

31)   What does ODP stand for?

32)   Which type of bank account is themost liquid.

33)   List examples of normal cash flows for the typical American?

Friday, March 11, 2016

Day 40 - Review for Test

Win in the Margins with extra income:

Lemonade Stand
Crafts Fair
Recycling
Swagbucks
tinyurl.com/uberbonuscode

PostTest: Zero-based Budget:

1. What is a Cash Flow plans?
2. What are some of the basic cash flows for a family?
What does "If you aim at nothing, you'll hit it every time" mean?
What are the 5 Foundations of Saving?
How much should you keep in an emergency fund now? Later?
What type of account should you keep your emergency fund in?
What is the difference between Saving and Hoarding?
How do you learn how to save?
What does it take to become an effective saver?
What percentage of families will face a major, unexpected financial event within a 10-year period?
How does the phrase, "Death by 1000 Cuts" relate to saving?
What is Murphy's Law?
What is a sinking fund, how does it work?
Explain how money = power when it comes to shopping.
What are the keys to wealth building?
What book did David Bach write that you need to read?
What is compounding?
How does time relate to compounding?
What is GDP?
What is a Recession?
What is an Economic Depression?
How does Supply and Demand work?
What is a budget?
When should a budget be prepared?
How should you prepare your budget?
What is the purpose of preparing a budget?
How often should it be reviewed?
What types of expenses are in a typical budget?
What is usually the largest expense?
What should you budget for first?
List three different categories of savings?
How much should you put into each savings category?
What is the difference between a fixed and variable expense?
What is a discretionary expense?
What does David Bach think you should do to make it easier to follow your budget?
What is it called when you try to take out more money than in actually have in your checking account?
What is the difference between a debit and credit card?
What is it called when you review your bank statement against what you recorded in your check register?
What is it called when you create a budget that accounts for every dollar you earn or spend in advance?

EverFi:

Consumer Protection (2/5/16)
Investing (2/19/16)
Saving (3/4/16)
Banking (3/18/16)
Payment Types (4/8/16)
Credit Scores (4/15/16)
Higher Education (4/22/16)
Renting vs. Owning (4/29/16)
Insurance and Taxes (5/6/16)

Thursday, March 10, 2016

Day 39 - Zero-based Budget Explained

PostTest: Zero-based Budget:

What is a zero-based budget?
What are some of the basic cash flows for a family?
What percentage of families live paycheck-to-paycheck?

PreTest: Zero-based Budget:

What is a Cash Flow plan?
What are some of the basic cash flows for a family?

Update Budget Challenge

take quizzes
schedule bill payment
update budget spreadsheet

Watch video 3.2 - Zero-based Budget

Group Discussion and Shared Google Doc

EverFi:

Consumer Protection (2/5/16)
Investing (2/19/16)
Saving (3/4/16)
Banking (3/18/16)
Payment Types (4/8/16)
Credit Scores (4/15/16)
Higher Education (4/22/16)
Renting vs. Owning (4/29/16)
Insurance and Taxes (5/6/16)

Wednesday, March 9, 2016

Day 38 - Importance of zero-based budget

PostTest: Banking:

What do we call the fee you might be charged if you spend more money than is in your bank account?
What type of account pays a reasonable amount of interest, requires a minimum balance, and limits the number of monthly withdrawals?
What type of bank account is the most liquid?
How much is the average fee for spending more than you have in your account?
What is the name of the online budgeting tool we discussed in class?

PreTest Objective Questions: Zero-based Budget: