Budgets

= Budgets =

Monday-Thursday April 23, 24, 25, 26
Remember to add to your spending journals! It is due Thursday May 10th. This week we will split up into 2 groups and do 2 different tasks, for 2 days, then switch. The two tasks are:

1) Finish "money morons" video and questions, then textbook work: page 110 #2 a b c d,  page 112 #5,  page 113 #6 b c d,  page 114 #7

2) play budget board game. A copy of the and are linked here.

1. finish work from yesterday, start spending journal
2. Another Gail TV show : [|Money Moron],

[]

3. If above work is complete: Text book page 110 #2 a b c d, page 112 #5

Lesson: finish work from yesterday, start spending journal
Another Gail TV show: [|Money Moron], []

Tuesday April 17
Lesson: 1. Complete the work from last week if you have not already done so (,, text book page 106 -107 Questions 5, 6, 7 & 11, 12) 2. Continue working on your Grocery List using the following notes: and This will become part of a larger, which you should start working on as well.

Monday April 16
all students absent due to weather

Thursday April 12
trip to Metro

Wednesday April 11


When you are finished your lists, continue on with the work from yesterday.

Tuesday April 10
// **Lesson:** // Complete the work from yesterday: Textbook questions, pay stub and rates of pay.

Then work on the following:

//**Review:**// How to calculate an average: In math, another term for average is MEAN (i.e. "calculate the mean of the following set of numbers").

Average, or mean is very useful in many areas of life; statistics, students grades, climate data, the list goes on! When considering household budgets, if you track the spending you have actually done over a number of months, the average of this can help predict future spending and allow you to set a realistic budget. Bear in mind though, "life happens" - month by month spending can vary based on a number of factors...holidays, school vs no school, lifestyle and so on. But if we know the average amount we have spent on certain categories in the past, it is a useful way to prepare for the future!

In order to calculate a meaningful average, we need a pretty decent set of numbers (more than 2, ideally). Add up each "item" in a set of numbers then divide that total by the number of items in the set. (in this unit, we will be adding up costs for spending categories).

e.g. if I spent the following amounts in my 'entertainment' expenses: $9.00 + $5.00 + $2.50 + $7.50 = $24.00

$24.00 / 4 = $6.00

**Text book page 106 -107 Questions 5, 6, 7, 11 & 12 and define the term " Impulse buy" (see question 11) **

Monday April 9
Read the textbook pages 105 and define the following terms for your notes: //** Budget **//
 * // Expenses //**
 * // Variable Expenses //**
 * // Fixed Expenses //**

List some things that you currently spend money on. Think of the passed week and over March Break. Then answer questions 1, 2 and 3 on page 105.

When considering budgets, we need to know a little about earnings - how much money you will have available each month! So we will learn how to read a pay stub - it can be confusing at first. Read the following note and answer the questions. The video clip also explains reading paystubs, but bear in mind it is American. Some of the concepts are very similar to Canada, but terms are slightly different.

[]

media type="youtube" key="3fDrDZAqf-8" width="560" height="315"

If completed the above work, work on the following "Rates of Pay and Paystubs"

Tuesday April 10 - calculating averages and textbook questions - average expenses
Introduce Budgeting assignment Define: Impulse buy Remember, to calculate an AVERAGE expense: add up all of the expenses, then divide by the number of expenses. e.g. if I spent the following amounts in my 'entertainment' expenses: $9.00 + $5.00 + $2.50 + $7.50 = $24.00 $24.00 / 4 = $6.00
 * Text book page 106 -107 Questions 5, 6, 7 & 11 **

Find your average spending for each of your budget categories for the month of September and the month of October. How do your averages compare ? - Did you spend more in September or October? Were the numbers close or very different? Why do think this is so?

Work period - Budgeting assignment Last day in class to work on this! Due on Wednesday Nov 25

Thursday Nov 19
Work period - Budgeting assignment Discuss yesterday's trip

**Wednesday Nov 18** Trip to St. Paul apartments

**Tuesday Nov 17** Work period - Budgeting assignment

Monday Nov 16
Plan questions for Trip - Wednesday Budgeting Assignment

Monday Nov 9, Tues Nov 10
Catch up days - many students absent

Work on budgeting assignment
Play "Budget" Game

Trip cancelled - to be rescheduled - Week of November 16th Trip to St. Paul Apartments Meet at front Admin just before Oh Canada - 8:50 am, ready to leave We will be back for period 2

Finish Textbook page 105 questions
Budget game

Students categorize own expenses as f or v as well as group them into main 'uses' (i.e. entertainment, food, transportation etc.)