7TH GRADE SOCIAL STUDIESPERSONAL FINANCE – DAY 3

FACTORY SHOALS MIDDLE SCHOOLMR. L. SMITH

FIRST FIVEAgenda Message: Bring calculators to class everyday this week. Vocabulary Quiz is Thursday, May 7th. Social Studies Progress Reports go home Monday, May 11th.Standard: Explain personal money management choices in terms of income, budgeting, savings, spending, credit, and investing.

Essential Question: Monday, May 4th: What is a budget and what are benefits of budgeting?Warm-Up: What is Earning Power? What is the #1 factor that contributes to Earning Power?Today We Will:1. Earning Power2. Introduction to Budgets3. Budget Activity Worksheets

ANSWERSE.Q. Answer for Monday May 4th

A spending and savings plan based upon estimates of income and expenses. They are used by individuals and organizations and finally, always relate to a period of time.

Helps you identify the amount you spend each month Helps you identify your expenses and spending habits Helps you prepare for major or unexpected expenses Helps you control how you spend your money

Warm-Up:~Your ability to make money~The #1 factor impacting your ability to make money is the amount of education & training that you have.