Warm Up: Will you apply for a credit card when you can? Why or why not? Is there a special circumstance that would prompt you to apply for a new card?
Credit Card Activity
Choose a credit card for yourself: American Express, Discover, Visa, Master Card.
Which card did you choose? You may not choose a zero interest card!
Compound interest activity
You now have credit card debt! Is it for a large purchase or a trip?
Warm up: What do you know about checking and savings accounts? What are some differences between writing a check and using a debit card?
Check writing and register activity.
Use the check register to record the two checks you write and your monthly expenses. Keep a running balance of how much money you have!
Include the following in your register:
Warm Up: What surprised you about the budget activity? Did your monthly salary go as far as you thought it would?
Work on check writing and your check register. Once it is complete have someone else check it for accuracy.
Concurrent enrollment homework due Friday, 09/22
September 20th-No class
Warm Up: Should you want to increase your salary what are some things you might try to make that happen?
Savings, Money market and CD activity
CD’s, Savings and Money Market accounts
Warm up: What is one of your favorite birthday memories? How much does an average birthday cost in your house? Cake, Dinner, gifts, a party?
Finish Savings, Money market and CD activity
September 11th-No School PD Day
Warm Up: What is a budget? Why do you think a budget might be important? What challenges and benefits might rise when keeping a strict budget?
Use this budget. Use your pay stub to determine your monthly take home pay. Your net (take home pay)after taxes x 2 = monthly take home pay.
Warm Up: What have your parents taught you about money? Budgeting? Credit cards? Saving?
Finish up the budget activity.
Warm up-Why will credit be important to you as you grow older?
Guest Speaker-Shawn Candelaria from Four Corners Community Bank
September 4th-Labor Day
Warm Up: What is a freedom or purchase-like a house- that you are looking forward to in your adult life? Why? How old will you be when it happens?
You have a job and a salary! This week we will figure your take home pay so that you are ready to begin budgeting.
First, fill out your W-4 to determine the number of exemptions you will claim on your earnings for federal and state taxes.
September 6th-No class
Warm Up: What is your first memory of having money? How did it feel? How did the money come to you?
Fill out your pay stub with all of the information requested. Personal information, federal, medicare, social security and state taxes. You will need your annual salary for this activity and to know that you are paid bi-monthly or two times per month.
Annual salary / # of pay periods
In your journal calculate Federal, Social security, Medicare and Colorado taxes.
Federal Tax Calculation
Example: Determine tax, take-home income, and effective tax rate for $285,781.
# Range Money in Bracket Tax rate Tax Paid
1 $0-$9,325 $9,325 10% $932.50
2 $9,326-$37,950 $28,624 15% $4,293.60
3 $37,951-$91,900 $53,949 25% $13,487.25
4 $91,901-$191,650 $99,749 28% $27,929.72
5 $191,651-416,700 $94,131 33% $31,063.23
Total Tax Paid: $77,006.29
Cumulative Tax rate: 26.9%
Warm up: Calculate the federal tax paid annual on $78,957 and then how much each pay period for 24 pay periods. What is the cumulative tax rate?
# Range Tax rate Tax Paid
1 $0-$9,325 10% $
2 $9,326-$37,950 15% $
3 $37,951-$91,900 25% $
4 $91,901-$191,650 28% $
5 $191,651-416,700 33% $
Total Tax Paid:
Total paid per pay period:
Finish calculating taxes.
Concurrent enrollment worksheet due by 09/15.
Warm Up: What should I know about you? Tell me about yourself.
Joaquin from SCCC will be in class to register students for concurrent enrollment.
Warm up: What job is most interesting to you and why? Take a guess at the yearly salary for that job.
Jess Adams-our College Counselor-will be in to do a career survey with us. By the end of class you will choose a job, know the salary and begin your 25 year old financial life. The rest of the class will be built on this career!
Write in your journal:
Use this link for instructions on how to access the career survey.
August 30th-No class
Warm Up: If Eric makes $10 an hour and works 45 hours this week how much will his paycheck be written for?
Eric Malone from The Payroll Department will be our guest speaker.
Policy Basics: Where Do Our Federal Tax Dollars Go?
Summarize where federal taxes go in your journal.
Warm up: You have won the lottery and have enough money to cover your expenses for the rest of your life. Will you continue to work in the job of your choice? Why or Why not?
Comparison activity utilizing the Cost of Living Calculator.
Use the salary for the career you have chosen and pick two cities of your choice (Denver or Grand Junction are options for Colorado) and compare a minimum of (10) things.
What are you taking away from this exercise? Are you surprised by the differences in cost of living between the two cities you chose?
August 21st-23rd Advisory/Orientation
August 24th- First day of class
Warm Up: What is Consumer Math?
Warm Up: What is your personal definition of happiness? How does money/wealth fit in to your definition?
Read the Happiness article and the Happiness Revisited article.
Concurrent Enrollment Info
Joaquin from SCCC (Southwest Colorado Community College) will be with us Monday, August 28th to begin the registration process for concurrent enrollment. You will need the following:
SCCC concurrent enrollment application. Click on Apply Online and then create an account. You will also need to fill out an additional paper information sheet. See me if you need a copy. The electronic AND the paper applications need to be complete by September 1st.
Once you have an account you can enroll at SCCC. Passing this class with a C- or better will provide you with 3 college level math credits that MAY be transferrable to your future college as an elective credit or as a math credit. The college you attend in the future will decide what the credits can be used for-math or elective.
Check out the daily work and warm ups if you miss class and please make up the work! I want you all to succeed. I will accept late work for two weeks after it is due. Check in with me if something comes up!