Warm up: How did you feel when you "had" credit card debt? Are you comfortable carrying a balance on a credit card and paying interest?
Compound interest Activity Read Credit Card Debt Statistics. In your journal:
Save a copy of the Compound Interest worksheet and share it with me. #1-What is the average amount of credit card debt held by each person in the US with a credit card-from the article on credit card statistics #2-What is the interest rate on your credit card? Daily interest: 17.9%/365 days = .05% per day Monthly interest: .05% * 30 days= 1.49%/ monthly Your monthly interest rate replaces the 1.49% in the cell #3 The minimum monthly payment is $100 Questions to answer PART 1
# 4 Now try it with your monthly payment from the credit card activity on 10/08 Questions to answer PART 2
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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 1. Choose a credit card for yourself: American Express, Discover, Visa, Master Card Which card did you choose? ○ What is the annual interest rate? ○ What are the annual fees? ○ Why did you choose this card? 2. Compound interest activity You now have credit card debt due to an emergency! Choose your debt. Minimum payment is interest +2% Use the interest rate from the credit card you chose. ● Using the Credit Card Calculator answer the following questions: 1. How many months will it take to pay this off with just minimum payments? How much interest will you pay? 2. If you use your monthly savings as the payment (assuming it is greater than your minimum payment) how many months will it take you to pay off the balance? 3. How much interest will you pay? 4. Has this activity changed the way you view credit cards? Why or why not? Warm Up: Do you think having credit is important? Why?
Warm Up: What do you think a credit score is and why might it be important? Credit Cards FICO and credit card activity What is a FICO score and why is it important? Watch this video if you did not see it in class. Credit Hangover worksheet Warm up: If you could have dinner with anyone who would it be and why? What would you serve?
You have invited your favorite three people over for dinner! Plan a meal for four-main course and a dessert or appetizer. Find two recipes with at least seven ingredients (salt and pepper not included in the seven) for the main course and at least four ingredients for your dessert or appetizer. Shop online or in the newspaper circulars and price out your recipes. Add sales tax at 7.9%. What is the total spent on the meal? How much will it cost you per person? How did your dinner party effect your budget? Warm up: Write about a bad food experience.
Grocery Receipt Activity Complete the Weekly Meal Plan
Make your grocery list and track all prices.
Warm up: Do you have any food-related family traditions? What are they and what makes them special to you and your family?
Grocery Receipt Activity Complete the Weekly Meal Plan
Make your grocery list and track all prices.
Warm up: When you shop locally you pay sales tax on your purchases. What do you think the sales tax is used for? Who gets the sales tax?
Sales tax, discounts and unit cost Sales tax: Colorado-2.9% La Plata County-2% Durango-3% Total city tax is 7.9% Sales Tax, Discounts and Unit price worksheet Warm up: What is your favorite meal? How often do you eat it? Can you make it yourself?
Unit cost Activity continued Cost of unit versus sales price. What is the retail price? What is the unit price? Which is the better deal? Which do you choose? Compare five items in each of the Albertsons and City Market weekly circular ads to Walmart.com and figure the cost per unit. Which one is a better deal? List all five in your journal with the better deal identified. Warm Up; What are some important qualities your food must have and why? Organic? Cheap? Flavorful? Better quality ingredients? Gourmet?
Food activity! Cost of unit versus sales price. What is the retail price? What is the unit price? Which is the better deal? Which do you choose? Compare five items in each of the Albertsons and City Market weekly circular ads to Walmart.com and figure the cost per unit. Which one is a better deal? List all five in your journal with the better deal identified. Warm up: What are three requirements you must have in your apartment/ house at 25 years old?
Find three rentals and write the details of each in your journal. The Durango Herald or a newspaper in your city is a good place to start. www.apartments.com
Electronic budget Record your monthly revenue and your new rent cost in the electronic budget. Share it with me. |
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