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Math 9 – Mrs. FeldesWants vs Needs Budgeting
Financial Literacy
WANTS vs NEEDS:A NEED is something you HAVE to have.A WANT is something you would LIKE to have.
A NEED:In actuality, you only need (4) things to survive:
•A roof over your head•Enough food & water to maintain your health•Basic health care & products•Clothing to be comfortable
A WANT:Everything that goes beyond your basic need is a want!
MAKING CHOICES:Even simple everyday choices can still represent a Want versus a Need.
BREWED COFFEE FROM HOME
$ 0.20
CARAMEL MACCHIATO @ STARBUCKS
$ 5.15
MAKING CHOICES:Even simple everyday choices can still represent a Want versus a Need.
BAG LUNCH FROM HOME
$ 2.50
LUNCH @ McDONALD’S
$ 8.45
MAKING CHOICES:Even simple everyday choices can still represent a Want versus a Need.
HOODIE $ 22.99
HOODIE$ 479.99
HOODIE$ 59.99
MAKING CHOICES:
AVOID ‐ DON’T WASTE YOUR MONEY
MAKING CHOICES:
RECOGNIZE WHAT IS IMPORTANT IN LIFE
MAKING CHOICES:LIMIT & MAKE SMART CHOICES
MAKING CHOICES:SAVE & HAVE GOALS TO HELP YOU OBTAIN
A BUDGET:To budget means to track your monthly income & expenses to monitor where your money is going.
It is important to budget to help save for a favourite item, your post‐secondary education, your first car, or even for a “rainy day”.
BUDGET ASSIGNMENT:Objectives:
‐ Work through the budgeting process;‐ Familiarize yourself with My Blueprint & the budget generator in the program;
‐ Reflect on your current financial responsibilities & goals;‐ Recognize the true cost of supporting you;‐ Encourage discussions at home about Financial Literacy;
BUDGET ASSIGNMENT:Challenges:
Not all students at this time may have a part time job. Income may be limited & inconsistent at Grade 9.
Think of “earnings” as an estimated amount of money received in a year. You can include gift money, birthday gift cards, allowance, lunch money, etc.
BUDGET ASSIGNMENT:Challenges:
Financial responsibilities will very greatly among students.
Not all students may have a bank account or the level of financial decisions will vary between families.
Note: All financial info & reflections are secure in your account of My Blueprint.
BUDGET ASSIGNMENT:Part 1:
• Estimate the amount of money you earn & spend in a year.•Use the rough drafts provided to help breakdown the different ways you receive money and the different categories you spend money on.
BUDGET ASSIGNMENT:
BUDGET ASSIGNMENT:Part 1:
• In My Blueprint:* Create a portfolio called “Finance”. * Upload pics of your rough draft sheets to your portfolio. * Use the Budget generator to create a pie graph of your income & expenses. Link the results to your portfolio.
* Complete the reflection titled Budget Results & link to your portfolio.
BUDGET ASSIGNMENT:Part 2:
• Estimate the full cost of supporting you. Think about the “other” expenses you do not pay for.•With the help of your parents, discuss the true cost of support you & the costs associated in maintaining a home.
BUDGET ASSIGNMENT:Part 2:
• In My Blueprint: * Upload the completed table. * Complete the reflection titledEstimated Costs Vs Actual Costs & link to your Finance portfolio.
BUDGET ASSIGNMENT:•Will be marked by: Career Teacher•Marked using a (4) point rubric scale.• Is part of your Career 9 grade.
* Based on a variety of assignments completed in Socials 9, English 9, and Math 9.
•Chromebooks available in class & some class time will be provided.•DUE DATE: April 30th