Now that state tests are over, we are beginning out Project Based Learning season, or PBLs. In math, we will be studying Financial Literacy, which means that scholars will be learning about everything related to money.
Here is the schedule (and links to worksheets) for this week:
Monday: No class (field day)
Tuesday: Watch 30 for 30: Broke, take quiz.
Wednesday: Complete K and W sections of Financial Literacy KWL (What I know, what I want to know, and what I've learned), complete goal setting worksheet.
Thursday: Budget Basics: Saving up to buy a car. Complete budgeting worksheet. Add the following terms to the Financial Toolbox:
Budget: An estimate of expected income and expenses for a future period of time.
Example: Set a budget for yourself of spending no more than $10 per week at the deli.
Income: Money received during a period of time from wages, interest, and other sources.
Example: I receive an income of $30 a week from my $20 allowance and $10 for babysitting my cousin.
Expenses: Money spent during a period of time to pay for goods or services.
Example: My family had some unplanned expenses this month because we had to fix the car and take my brother to the emergency room when he broke his arm.Friday: Continue the saving up for a car scenario with "Where Did the Money Go?" Complete the Gross and Net Pay worksheet. Add the following terms to the financial toolbox:
Gross Pay: An employee’s pay before being reduced by taxes and other deductions.
Example: Kobe Bryant’s salary was $25 million dollars in 2016, but he didn’t take home all $25 million because that was his gross pay.
Net Pay: Gross pay minus taxes and other deductions (voluntary and involuntary).
Example: Even though my mom pays her employees $4,000 per month, they only take home about $3,000 in net pay.
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