Household Bills
WILD CARD !!!!
When you are doing a budget. Why is it important to have an emergency fund?
An emergency fund insures against life's unexpected expenses.
It gives you peace of mind or some freedom
No one wants to live one paycheck away from not being able to pay the rent or one car breakdown away from not being able to get to work.
WILD CARD !!!
What are the different time periods in in which a person (employee) can receive a paycheck?
Weekly
Monthly
Bi weekly (quincena)
When we refer to the Psychosocial development domain, what does it refer to?
Psychosocial development → involves emotions, personality, and social relationships.
What is gross income?
Gross income is the total amount of money you earn before taxes.
Name at least 1 element / section of a paycheck (Recibo de Nomina)
Period
Personal Information
Company information
Deductions
ISR
IMSS
Gross income
Net Pay
Physical → involves growth and changes in the body and brain, the senses, motor skills, and health and wellness.
Name 2 variable expenses
Car Gas
Clothes
Entertainment
Shopping
What is Net Pay / Net income?
This is the actual money you take home and the number you start with when building a budget
WILD CARD !!!
Choose a stage and name an example for each of the domains
Physical → involves growth and changes in the body and brain, the senses, motor skills, and health and wellness.
Cognitive → involves learning, attention, memory, language, thinking, reasoning, and creativity.
Psychosocial development → involves emotions, personality, and social relationships.
What are the 4 utility bills I have to pay every month / every other month?
Electricity
Water
Gas
Phone
Lucía is an employee at a local coffee shop.
Name two things that will automatically be deducted from her paycheck (Mexico).
TAXES
IMSS
What are the names of the 5 milestones we covered in class?
Infant --> Birth to 1 year
Toddler --> 1 to 3 years
Preschooler --> 3 to 6 years
School-age child --> 6 to 12 years
Adolescent --> 12 to 18 years
What is a budget?
What is an expense?
What is income?
Budget is a plan for spending and saving money.
Expense is anything you spend your money on:
Income is the money you earn or get.
You are paid $8,000 pesos twice a month (quincena).
How much do you actually make a month - Tax?
$8,000 twice a month = $16,000
$1914.75 twice a month = $3,829
Range $11,951.86 to $18,837.75
Deduction $1914.75
Percentage 23.52%
Net Pay / Net income a month = $12,170.50
Development as a lifelong process that can be studied scientifically across three developmental domains.
Name those domains
Physical
Cognitive
Psychosocial development