Laura Ewing President/CEO 1801 Allen Parkway, Houston, TX 77019 P: 713.655.1650 F: 713.655.1655 [email protected]rg Helping young people learn to think, choose, and make better economic and financial choices in a global economy Cindy Manzano Director of Smarter Texas 1801 Allen Parkway, Houston, TX 77019 C: 713.503.5338 F: 713.655.1655 [email protected]www.economicstexas.org www.smartertexas.org 1
63
Embed
Laura Ewing President/CEO 1801 Allen Parkway, Houston, TX 77019 P: 713.655.1650
Helping young people learn to think, choose, and make better economic and financial choices in a global economy. Cindy Manzano Director of Smarter Texas 1801 Allen Parkway, Houston, TX 77019 C: 713.503.5338 F: 713.655.1655 [email protected]. Laura Ewing President/CEO - PowerPoint PPT Presentation
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
• GROSS INCOME – TAXES = NET INCOME• NET INCOME = $1200
49
You will need Ex. 15.1, Act. 15.2, scissors and glue
50Fixed Expenses
• Remain the same month to month
51Variable Expenses
• Vary month to month
52Exercise 15.1
Answer questions 4 -10 on your own.
53Exercise 15.1
11. Write a mathematical sentence showng the relationship between the Trans’ income and expenses for June.
Expenses = Income
54Exercise 15.1 - Savings
• Did the Trans’ family budget for savings?• Why might they save?• Have you ever saved money to be able to buy
something in the future?• Have other members of your family saved for
somethng in the future?
55
The Monroe Family
56Monroe Family Budget
• What changes would the Monroe family have to make in order to put aside $20 more per month for their vacation?
57Closure for Lesson 5
• What is income?• What are expenses?• What is a budget?• If a person’s expense are greater than his income,
what must he do to balance his budget?• What are variable expense? Can you give an
example?• What are fixed expenses? Can you give an
example?
58
Money In, Money Out
Lesson 6
59
Create a budget for Jordan.
60Closure
• What is a budget?• Why is having a budget important?• What is income?• What are expenses?• What does it mean to have a balanced budget?• What must you do if your expenses exceed your
income? • Why is it important to have a savings?
61SIFE: Students in Free Enterprise
62West Texas A&M SIFE
63Jean Walker, DirectorWest Texas Center for Economic EducationCollege of BusinessWest Texas A&M University