Money+Skill

Each Tuesday and Thursday, you will develop your money skills more fully by accessing [|Money Skill]You will complete 32 modules covering all areas of personal finance that you need to know. Several modules will be completed each period, as each module takes 20 to 40 minutes to complete. After a new concept has been introduced, you will be quizzed using a question or a problem to test your understanding of the material.

The system will keep track of your score on each module and will provide you and Mrs. Grams with the percent that you got correct. The points on each question accululate to your totla score for each module, so take your time and read each question carefully before you answer. //The question may be reversed from the form it was presented in the material.// **Thinking and taking your time will pay dividends!** If you score lower than 75% you can retake the test - ultimately helping your grade for this activity. Scores will be 10% of your class grade.

You will be testing your money skills in the National Financial Capacity Challenge sponsored by the U.S. Treasury Department. Find more information about the Challenge at []

//This schedule may be adjusted as the year progresses.// = =
 * Take your Money Skills seriously!**

__** Tuesday, October 22: **__ Module #1 - The Plans We Have For Our Lives Module #2 - Andrew's Simulation Module #3 - Earned Income and Skill Demand

//We are going to simulate your investing from today until you are 65 years of age. You are going to click on the link below but before doing that, here are the numbers I want you to plug in the first time. Put in your current age. Use the interest rate of 5% to be conservative, and let's start by saving $25 per month, somthing you could possibly do now, especially if you currently have a job.// **__[|Compound Interest Savings Calculator]__** **Enter your results onto a Google Document.** //Go back to the link and put in your age, $50 a month, 10% interest (the average return on investment over time received by conservatively investing in the stock market). How much money do you have now at age 65?// **Enter your results onto the Google Document.**

//How much money will you have to invest a month beginning at age 23 (after you have graduated from college) to become a millionaire by age 65?// **Enter this amount onto the Google Document.** **Share with jgrams@hlv.k12.ia.us**

__** Thursday, October 24: **__ Module #4 - Earned Income and Skill Supply Module #5 - The Consumer Life Cycle Module #6 - Income Over the Life Cycle

=**GREAT TRUTHS THAT LITTLE CHILDREN HAVE LEARNED:**= 1) No matter how hard you try, you can't baptize cats. 2) When your Mom is mad at your Dad, don't let her brush your hair. 3) If your sister hits you, don't hit her back. They always catch the second person. 4) Never ask your 3-year old brother to hold a tomato. 5) You can't trust dogs to watch your food. 6) Don't sneeze when someone is cutting your hair. 7) Never hold a Dust-Buster and a cat at the same time. 8) You can't hide a piece of broccoli in a glass of milk. 9) Don't wear polka-dot underwear under white shorts.

__ Tuesday, October 29: __
Module #7 - Tracking Expenses and Budgeting

Module #8 - Paying For What We Buy Module #9 - Food and Clothing
 * __ Thursday, October 31: __**

//**Directions: Solve each problem. Round answers to two decimal places.**// //**Word process your answers and explain your calculations. Share with jgrams@hlv.k12.ia.us**// //1. If the sales tax on purchases would be 7 3/4%, what would be the final cost of a shirt that cost $50.00?// //2. If Jillian invested $5,000 in a certificate of deposit that pays 6% simple interest annually, how much interest would she earn after 5 years? What would the final value (principal plus interest) be of the investment at the end of the 5 years?// //3. You and your friends decide to tip 20% of your dinner bill. If the bill is $43.57, what will be the total cost of the dinner?// //4. The sales tax on a car was $150 and the sales tax rate was 5%. What was the purchase price of the car before taxes?// //5. A man paid $3520 in income taxes. His annual salary is $15,000. What percent of his income went for taxes?// //6. How much interest would you earn if you deposited $500 for one year at an annual interest rate of 6.25%?// //7. A typical full-time job requires 40 hours of work, how much will Marcus make for working 52 hours in one week if he earns $11.65 an hour? (Any time over 40 hours is considered overtime, which pays "time-and-a-half".)// //8. You are out shopping and one of your favorite stores has a 40% off everything in the store sale. How much would you spend on a shirt with a regular prices of $24?// //9. A car salesperson earns 5% commission. If he sold a car for $45,500, how much did he earn?// //** Further Research: Use any appropriate website to answer the following: **// 1. What is FDIC? 2. When was the FDIC created and why? 3. What are commercial banks? What do they offer? 4. What is the advantage of Internet Banks?

Module #10 - Vacation and Leisure
 * __ Tuesday, November 5: __**

//Respond to the following items using the resource link:// **[|Finance Freak]** 1. What do you want to ask when you pick a bank or credit union as your financial institution? 2. What are debit cards? 3. What's the best way not to go nuts with spending when using a debit card? 4. What mistakes are made when having, or using, a debit card
 * ATM and Debit Cards and FDIC:**
 * Share your responses with me using Google Docs**. (jgrams@hlv.k12.ia.us)

//1. How much debt do you have at the end of your 4-month trial?// //2. How much money did you have on hand when you got into the accident in Week 16?// //3. What did you learn about having cushion money for unexpected expenses?// //4. If you played the game again, would you play differently? If not, why not? If yes, how?//
 * Take the [|Spending Challenge]**
 * Share your responses with me using Google Docs** (jgrams@hlv.k12.ia.us)

**__ Thursday, November 7: __**
Module #11 - Savings Module #12 - Short-Term Saving Vehicles

//Describe the most common methods used to calculate interest. Which method is most beneficial to the consumer?// //Explain the Rule of 78.// //Identify the ways to improve poor credit.// //Can you be held responsible for your husband's/wife's debt if you divorce?// //Identify the reasons you may be turned down for credit.// //What do lenders look for when you ask to borrow money?//
 * Respond to the following items using this resource link: [|Federal Reserve Bank]**
 * Word process your answers using complete sentences on a Google Doc. Share with jgrams@hlv.k12.ia.us**
 * //-Paying Off a Loan Early//**
 * //- Improving Poor Credit//**
 * //- Divorce and Credit//**
 * //-Common Reasons for Denying Credit//**
 * //-What Lenders Look For//**

**__ Tuesday, November 12: __**
Module # 13 - Using a Checking Account Module #14 - Credit Cards and Other Unsecured Borrowing

**__ Thursday, November 14: __**
Module #15 - Your Credit Rating

**__ Tuesday, November 19: __**
Module #16 - Cost and Benefits of Borrowing Module #17 - Secured Borrowing

**__ Thursday, November 21: __**
Module #18 - Buying or Leasing a Vehicle Module #19 - Operating a Vehicle Module #20 - Renting a Home Module #21 - Leasing a Home

**__ Tuesday, November 26: __**
Module #20 - Renting a Home Mudule #21 - Leasing a Home Module #22 - Understanding Insurance Module #23 - Life and Disability Insurance

**__ Tuesday, December 3: __**
Module #24 - Health Insurance Module #25 - Retirement Module #26 - Equities

**__ Thursday, December 5: __**
Module #27 - Mutual Funds Module #28 - Investing in Business

//Respond to the following items using// [|Finance Freak]. //Word process your answers using complete sentences. (Google Docs) Share with// jgrams@hlv.k12.ia.
 * - How do you buy stock?**
 * - Explain these stock classifications: Blue-chip, Income, Growth, Value, Blend, Speculative**
 * - Which of the stock classifications carries the highest level of risk?**
 * - Which stock market index is considered to be the best gauge of the overall market?**
 * - If you have stock, do you want the market to be a "Bull Market" or a "Bear Market"? Why?**

**__ Tuesday, December 10: __**
Module #29 - Investing in Physical Assets, Cost/Benefit Analysis Module #30 - Fixed Income Assets Module #31 - Income from Financial Assets

**__ Thursday, December 12: __**
Module #32 - Property Income

//** You have now completed all modules in Money Skills...you will be taking the Financial Challenge Tuesday, December 17 **//
//Respond to the following question using// [|Finance Freak]. //Share with// jgrams@hlv.k12.ia.us [|//"Money Metropolis".//] //Using Google Docs, tell me (1) how you did and (2) what would you do differently if you played again?//
 * - Why is real estate a good investment?**

//Play [|"Road Trip to Savings"] -- Meet the challenges of 4 weeks on the road as you steer your way to financial stability. Using Google Docs, tell me if you met financial stability.//

Go to [|You're Going to College] This game-based interactive gives students the chance to learn about costs and benefits, the cost of college, and potential lifetime earnings. Play the game. Send me your results using a Google Doc.

**__ Tuesday, December 18: __**
//Respond to the following items using// [|Finance Freak]. //Answer in complete sentences. (Google Docs) Share with jgrams@hlv.k12.ia.us// //**- What are the four basic strategies of investing?**// //**- How does a 401k account work?**// //**- What is "rollover"?**// //**- How does a 403B account differ from a 401K account?**// //**- How does an IRA and a Roth IRA differ in tax payments?**//


 * - What is a mutual fund?**
 * - What is a front load mutual fund?**
 * - What is a back load mutual fund?**
 * - What is a no load mutual fund?**
 * - Are bonds considered a safer investment than stocks and mutual funds?**
 * - Which type of bond is issued by state and local governments?**
 * - With which type of bond would you not pay ny federal tax and maybe no state tax either?**
 * - Which type of bond is issued by the companies?**
 * - Which type of bond is issued by the U. S. government?**
 * - What is a CD (Certificate of Deposit)?**
 * - What are the advantages of mony market accounts?**
 * - Why are annuities a smart way to save?**