Earning
If you earned $11.00 per week for doing chores, how much money do you earn in 8 weeks?
$88.00
A bracelet costs $2.50 and you buy 3, whats your total cost?
$7.50
If you had $109 in your savings account, and you added $10 dollars more each month, how much will you have after 7 months?
$179
What is the extra fee you need to pay if you don't pay your bills on time?
Interest
I want to go on a trip next July. It will cost $500 so I decided to start saving up $75 per month. I will need to cut down on other costs.
SAFE - that is a lot of time to save up, and you will be cutting back on other expenses
If you earn $15 a day for seven days from selling candy, how much will you have earned at the end of the week?
$35
I want to save up for a new laptop that costs $800. If I can save $80 each month, how long before I have enough for a laptop?
10 months
I earn $40 month week and have $35 in expenses. I want to save up for a new video games, which costs $25. How many months will I need to save up for it?
5 months
What is it called when you borrow money from the bank with the promise of paying it back later?
Credit
I have about $200 in my account. I have wanted a new laptop for so long so I decided to use my credit card to buy it. I will probably have enough money to pay it off next month.
RISKY - you need to be SURE you will have enough money to pay it off
I made $9 per day working last summer. I worked for 3 days a week. How much money did I make per week?
$27.00
If you have $5.75, and you see a shirt that you really wanted for $12.35, how much more money will you need to buy the shirt?
$6.60
I saved $45 per month and my brother saved $24 per month. After 6 months, we pooled our money together to buy a new tablet. How much money did we have altogether?
$414
What's the difference between supply and demand?
supply: how much materials you have to sell
demand: how much customer interest there is for a product
I bought a 50 inch TV with my new credit card. I won't eat out or waste any money on snacks for the rest of the month. I will also work over time to earn extra cash.
SAFE - you need to make other sacrifices when you make a big purchase on credit.
My lemonade business earns $4 per day in the summer, and my snack stand earns $5 per day. How much money will I have earned in a typical week?
$63
If a cd and a radio player is $87 and you only have $41, how much more will you need to buy the cd and radio player?
$46
$960
What is the difference between a good and a service? Give an example for each.
Good: a product that you sell (eg. books)
Service: something you do for others and they pay you for it (eg. tutoring)
Jon wants to buy a new car. He decided to get a used car so that he can save some money. When his car broke down, he used his credit card to pay his repair bills.
SAFE. A used car is better for saving money. Credit cards are good to use for things you NEED.
Sharon's monthly income is $150.00. How much does she make in 4 and a half months?
$675
What is one benefit of PLANNED spending?
You can make the most of your money.
You can make sure you get to do everything you want.
You can make sure you don't waste your money.
If you you made $100.00 a year and you put $55.63 in the bank every year for 3 years, how much money will you have in the bank?
$166.89
2 part question:
What is human capital?
How is human capital related to income?
Human capital is education, training, experience, and skills.
The higher your human capital, the more income you will earn.
Sara wants to buy the new video game that just came out. She borrowed money $80 from her friend, which she has to pay back within 3 days. She won't get her allowance for another 3 weeks.
RISKY - Only borrow money if you know you can pay it back.