Money Talks
A plan for managing your money. Use an estimation of net income and decide how to spend the money.
What is a budget?
Alex earns $50 a say for five days this week. Her weekly expenses are $280. What can she do to balance her budget?
What is increase her income by $30 or cut her expenses by $30?
A fee that is added to the price of an item.
What is sales tax?
Jared bought a new truck for $48,900. He paid %6 sales tax on the truck. What is the total cost of the truck including the property tax?
What is $51,834?
Which one is entertainment?
pet supplies, new shoes, bowling, tuition
What is bowling?
Not spending your money straight away, but putting it away so you can spend it later.
What is savings?
Samuel gets $7 for washing his neighbor's dog, $22 for each lawn he mows on Saturday, and $4.50 for each hour of babysitting. He wants to buy a new pair of soccer cleats for $87. What can he do to earn the money for the cleats?
What chores will get him the money he needs?
The total tax an employer withholds from a paycheck to finance social insurance programs like Social Security and Medicare.
What is payroll tax?
Maren's gross pay was $1,100, but her net pay was only $926. How much did Maren pay in income tax?
What is $174?
Which one is entertainment?
car, pizza, groceries, utilities
What is pizza?
Income is equal to expenses or there is a surplus of money, there is no budget deficit.
What is a balanced budget?
Elise earns $12 for babysitting the neighbor's son, $8 for washing dishes twice, $9 for walking three dogs dogs, and $24 for raking the leaves in her uncle's yard. She spent $11 on two frappuccinos, $16 on her Geo Club shirt, $5 for her library fines, and $25 for a bike repair. What can Elise do to balance her budget?
What should Elise do?
Taxes on the value of items such as land, houses, cars, and boats.
What is property tax?
Jasraj bought a Hogwart's Castle Lego set for $459. The sales tax was 8%. The total cost of the castle was 495.72. How much did Jasraj pay in sales tax?
What is $36.72?
Which one is entertainment?
a jacket, underwear, socks, party dress
What is a party dress?
The money/taxes taken away from gross income.
What are expenses?
Van earns $17 for every driveway he power washes. He is trying to save $100 to enter the Bike Derby. How many driveways will he have to wash to earn the money?
What is 6 driveways?
Tax based on the amount of money you earn. The employee pays this one.
What is income tax?
Prizleen bought 3 acres of land for her goats. Each acre cost $17,000 and there was property tax assessed at 11%. How much did she pay in total for her land?
What is $56,610?
Which one is entertainment?
car insurance, oil change, car battery, car wash
What is a car wash?
Money paid to the government from individuals or businesses to cover the costs of general government services, goods, and activities.
What are taxes?
Dana can make 3 pairs of pajama pants in one day. She charges $13.50 for each pair of pants. She wants to buy a new sewing machine for $289. How many days will she have to sew pajama pants to earn enough money to buy the sewing machine?
What is 8 days?
Any money paid to the government from individuals or businesses to cover the costs of general government services, goods, and activities.
What is tax?
Jason's paystub shows his gross income is $1,358 for the week. He paid $54 in federal taxes, $16 in Medicare, and $47 for his insurance deduction. What is Jason's net income?
What is $1,241?
Which one is entertainment?
An Uber ride to work
Apple Airpods to listen to your class podcast
A computer for your small business
A client dinner at a nice restaurant
What are Apple Airpods to listen to your class podcast?
(any headphones will do!)