February 19th-President's Day
February 20th Warm up: Credit card word problem Review markdowns, coupons, unit price and sales tax. February 21st-no class February 22nd Warm up: What are some important qualities your food must have and why? Organic? Inexpensive? Flavorful? Better quality ingredients? Gourmet? Sales tax: Colorado-2.9% La Plata County-2% Durango-3% Total city tax is 7.9% Sales Tax, Discounts and Unit price worksheet February 23rd Warm Up: Create your own food animal, Cloudy with a Chance of Meatballs style. What is it? TacoDile or a CheeseSpider are examples. :)
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February 12th
Warm Up: Sean has a credit card balance of $1,295 on 02/01. He bought pizza for $22 and a new pair of cool shoes for $45. He makes a payment of $95. Interest from last month was $17.11. What is Sean's credit card balance on 02/28? Part 1: What are some differences between a savings account, money market account and a CD? Spend some time on this and RESEARCH each one. Part 2:
2. Choose a savings account or CD based on what you learned. Why did you choose the one you did? February 13th Warm Up: Why will credit be important as you grow older? Guest Speaker: Shawn Candelaria-Four Corners Community Bank February 14th-No class February 15th Warm up: What are two things you learned form the guest speaker? Two Emergency Fund readings and questions
February 5th
Warm Up: What do you think a credit score is and why might it be important? 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. Questions:
Take the credit score quiz and see how well you do. Record your score in your journal, February 6th 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
Use 5x your monthly emergency fund as the total. Minimum payment is interest +2% Use the interest rate from the credit card you chose.
February 7th-No class February 8th Credit Hangover Video Credit Card Activity Cost of Credit Calculator February 9th Warm Up: What is the best advice someone has given to you? January 29th
Warm Up: Why do you think a budget is important? What do you think is the hardest thing about one? The greatest benefit? Finish Budget Activity 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.
January 30th Warm up: 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:
February 1st Warm Up: What is your personal definition of success. Share an example of a time where you felt successful. 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:
February 2nd Warm Up: What have your parents taught you about money? Budgeting? Credit cards? Saving? Crossword Puzzle January 22nd
Warm Up: What do you think federal taxes are used for? What other taxes are paid through your paycheck? Policy Basics: Where Do Our Federal Tax Dollars Go? Payroll and tax activity Fill out your W-4 to determine the number of exemptions you will claim on your earnings. Some helpful January 23rd 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? Complete 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 Federal Tax Calculation Example: Determine tax, take-home income, and effective tax rate for $200,000 # Range Money in Bracket Tax rate Tax Paid 1 $0-$9,525 $9,525 10% $952.50 2 $9,526-$38,700 $29,174 12% $3,500.88 3 $38,701-$82,500 $43,799 22% $9,653.78 4 $82,501-$157,500 $74,999 24% $17,999.76 5 $157,501-$200,000 $42,499 32% $13,599.68 Total Tax Paid: $45,688.60 Cumulative Tax rate: 22.8% $45,686.60/$200,000
Example: Monthly gross pay: $4,707 Subtract any W-4 allowances (2): ($667) Adjusted wage: $4,040 From % withholding table(p22) ($192) $3,848 This is your Colorado taxable income Multiply by 4.63% x .0463 $178.16 Actual amount of withholding per month January 24th-No class January 25th 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?
Example: Monthly gross pay: $4,707 Subtract any W-4 allowances (2): ($667) Adjusted wage: $4,040 From % withholding table(p22) ($192) $3,848 This is your Colorado taxable income Multiply by 4.63% x .0463 $178.16 Actual amount of withholding per month January 26th Warm Up: What are five things that you think should be included in your budget? What are two things that you would like to have in your budget? Netflix? Eating out? Budget Activity 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.
January 15th-Holiday January 16th Warm up: Tell me a little about yourself. What should I know about you? Joaquin from SCCC (Southwest Colorado Community College) will be with us 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 January 19th. 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 transferable 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. January 17th-No class January 18th Warm up: What does your personal "cost of living" look like based on your lifestyle? How do you think the the "cost of living" could be different in two separate places?
1. Are there any surprises? 2. How do you feel about the change in your salary? 3. Does the rent feel reasonable compared to your salary in both cities? January 8th-No school January 9th Warm Up: What is Consumer Math?
Agree/Disagree Activity January 10th-No class January 11th Warm Up: What is your personal definition of happiness? Can money buy you happiness? Why or why not? Read the Happiness article and answer the questions in your journal. Happiness article 1. What do you think about the idea that you won't be any happier making more than the happiness threshold for your state? 2. How do emotions and money tie together? 3. Write about an experience where you felt like money brought you happiness? 4. Name the salary you think you need to make in order to live the lifestyle of your choice. Travel? Shopping? A nice house? Equipment? 5. What geographic area do you hope to live in and how do you feel about the median salary in that area equaling happiness? January 12th 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 class. Complete the career survey in Naviance and then choose one career. The median salary will be the one you work with moving forward in class. Use this link for instructions on how to access the career survey. juniors_january_naviance.docx Write in your journal:
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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!
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