Read pages 273-280 and answer questions 1,2,3 and 5

Define the following terms

annual report
asset
equity
fiscal year
gross profit
liability
net profit
operating expenses
revenue
transaction

Worksheet questions.  

Next

Talk on credit and credit cards, debt, bankruptcy and identity theft. LINK


Questions

1. What is the 20/10 rule of borrowing?

2. What is a credit rating and why is it important.

3. List some of the pros and cons on credit cards.  (3 each)

4. What is bankruptcy and what are its consequences.

5. What are some things that can be done to avoid Identity Theft?

Start with Dragons Den and talk on Credit Scores?  What are they?  Why do they matter?

Questions by "Practical Money Skills" sponsored by VISA.  

Alone or with up to two partners, discuss and answer the questions for each of the 5 following scenarios.  Email your answers and be prepared to discuss them at the end of the class.  

You’re holding the keys to a brand new car, longing for a cell phone upgrade and planning a trip to Disney World. But wait … will doing these things affect your credit? Determine how the scenarios below might impact your credit score. (Remember—it can go up or down.) Justify your reasoning and offer a solution to any negative impacts.

Scenario 1: You want to purchase a new vehicle and you have your heart set on a brand new SUV. You take out a loan to pay for the car, but after six months you begin to fall behind on payments and incur late fees.

Does your credit score go up or down?

Why does it go up or down?

If your score goes down, how can you fix it?

 Scenario 2: You’ve been eager to buy a new cell phone for months, and now you’re ready to make it happen. You use your credit card to purchase the phone and you set up automatic billing to pay the monthly expenses. At the end of each month, you pay the credit card bill in full.

Does your credit score go up or down?

Why does it go up or down?

If your score goes down, how can you fix it?

Scenario 3: Your first semester of college, you take out a small loan to help pay for books. Despite being busy, you get a part time job. Although you don’t have to pay your loan back until you graduate, you’ve saved enough by the end of the semester and you will pay off the loan in full.

Does your credit score go up or down?

Why does it go up or down?

If your score goes down, how can you fix it?

Scenario 4: You just got the keys to your first apartment. You also have a new credit card with a $4,000 limit and you use it to furnish your new place. Before you know it, you’ve bought a TV, a couch and a dining room table. When you get the credit card bill, you realize you’ve spent your full credit limit of $4,000.

Does your credit score go up or down?

Why does it go up or down?

If your score goes down, how can you fix it?

Scenario 5: You’re planning a trip to Disney World with friends over winter break. You get a credit card offer in the mail that lets you earn airline miles for every $1 you spend, plus bonus miles for opening a new account. Even though you opened three other credit cards this year, you jump on the opportunity and sign up immediately because you haven’t bought your flight to Florida yet.

Does your credit score go up or down?

Why does it go up or down?

If your score goes down, how can you fix it?

Commercials

Banking

Today we will looking at banking and checking accounts.

Worksheets

Check stocks.

Nov 8

Talk on Decisions

De  'Cide'  What do you think 'cide' means

Oppourtunity Cost:  The cost of a decision.

Video

The Decision Making Process is:

1. Identify the problem
2. Gather information and list possible alternatives
3. Consider consequences (oppourtuinty cost) of the decision
4. Select the best course of action
5. Evaluate the results.


Budgeting Terms

Fixed Expense
Variable Expense

Monthly
Annual

Utility

Video

Hand out on budgeting.

Hand in questions.

Commercials

Today we are going to finish up talking about protecting yourself and your business from scams.  

Next.  

Watch the Video at the following LINK

Now Try to complete the quiz at this LINK (you will have to scroll down)

Answer the following questions and hand them in:

1. Describe 2 ways to avoid credit card fraud.

2. Describe 2 ways Fraud occurs.

3. What is phishing?

4. What are two things you learned?

Monday Nov 6

Today we are starting to move onto the next Function of Business: Finance.

To start, we are going to look at your personal finance and keeping you safe from Fraud.

Today we are going to watch a video on Identity theft.

FLEX Activity Links


Below is a link to the PDF that will be included in your origami envelopes that will be placed in your mailboxes today at lunch.
http://www2.oberlin.edu/amam/asia/crane/documents/crane-folding-directions.pdf

Below is a YouTube tutorial for your students if they are more visual learners in your class to help guide them through the folding process. It is pretty helpful and you can stop/start your way through it so you can give your students time to catch up.
https://www.youtube.com/watch?v=0U9fP_7DEf0

Below is a link to the Veterans Affairs Canada website outlining the paper cranes specific relationship to our own experience of peace.
http://www.veterans.gc.ca/eng/remembrance/information-for/students/tales-of-animals-in-war/folding-origami-peace-cranes