May 20148th Grade Social Studies

Friday, May 2, 2014LT: I can find out where my money goes.

• Write your LT in your planner. DO IT. NOW.

• Open your JA Book to page 47-48.

• Please re-read the main points of pages 47-48, marking the text for any important information.

• Your first task of the day will be related to this page, so pay attention to what you’re reading!

Task #1: Types of Taxes

•Use pages 47-48 to fill in the Graphic Organizers on pages 49-51.

Task #2: Social Security

Read page 58 and mark the text as you read.

Answer the questions on page 59 using the info from page 58.

Monday, May 5, 2014LT: I can find out where my money goes.

• Write your LT in your planner. DO IT. NOW.

• Ensure that pages 49-51 and pages 58-59 are complete. I will be putting a grade in for these today.

• If they are not finished, please begin them right away.

• Please be silent at the bell awaiting instructions.

Friday’s and Monday’s Tasks…Use the resources provided to figure out the following worksheets. Ms. Hall is here for support and so are your fellow students. Learn through discovery and analysis!

1. Use pages 47-48 to fill in the Graphic Organizers on pages 49-51.

2. Read page 58 and mark the text as you read. Answer the questions on page 59 using the info from page 58.

3. Complete pages 52-53 using the graphic and instructions on the page.

4. Page 54 shows a sample sales receipt. Use it to answer the questions on the page.

Task #3: Where Is My Money?Figuring out NET INCOME after taxes.

Complete pages 52-53 using the graphic and instructions on the page.

Task #4: Sales Tax Analysis

Page 54 shows a sample sales receipt.

Use it to answer the questions on the page.

Tuesday, May 6, 2014LT: I can write the Unit 2 Test and prepare to take it tomorrow.

• Write your LT in your planner. DO IT. NOW.

• Take out a new blank sheet of paper (lined, clean, and in-tact.)

• Please be silent at the bell awaiting instructions.

Unit 2 Test (due at the end of the period)

YOUR TEST MUST INCLUDE:

• 5 Multiple Choice Questions;

• 3 Short Answer or “Fill In the Blank” questions;

• 1 “Scenario” question;

• 1 Long Answer question.

• BE SURE TO INCLUDE ANSWERS TO YOUR QUESTIONS!!

TOPICS TO CONSIDER:

• NMI

• Sales Tax/Income Tax/Property Tax

• Take Home Pay

• Deductions

• Taxable Items

• Where tax money goes

• Who pays taxes

• Net vs. Gross

Wednesday, May 7, 2014LT: I can show what I know about taxes and deductions.

• Write your LT in your planner. DO IT. NOW.

• Clear your desk of everything EXCEPT your JA Book and a pen or pencil.

• You have 6 minutes of “cram” style review time to peek over any information from Unit 2 you think might be on today’s test.

Wednesday, May 7, 2014LT: I can show what I know about taxes and deductions.

• If you finish your test early, make sure that you have EVERY page number listed below completed. If you don’t, FINISH IT.

• Read a book or work on HW for another class if you’ve finished your test AND all assignments.

• Your updated book will be turned in to Ms. Hall before you leave today. You will NOT be taking your JA book home tonight.

Graded pages: UNIT 1: 9-11, 13, 14-16, 17-20, 21, 23 (6 assignments) UNIT 2: 49-51, 52-53, 54, 55-57, 59 (5 assignments)

Thursday, May 8, 2014LT: I can begin to understand budgeting.

• Write your LT in your planner. DO IT. NOW.

• We will go over your tests… which made me cringe a little. Be prepared for that at the bell.

• You will need your JA book, which Ms. Hall has.

Thursday, May 8, 2014LT: I can begin to understand budgeting.

• Read and mark the text: page 67 in your JA book.

• Highlight or underline key terms (vocabulary words) or important information

• Take Cornell Notes using the format on the right.

• After you’re done reading/taking notes, make a list of your own personal NEEDS and WANTS.

My Budgeting Goals

What is a budget?

Who uses a budget?

Needs Wants

Thursday, May 8, 2014LT: I can begin to understand budgeting.

• CASE STUDY

• Complete pages 68-69

Monday, May 12, 2014LT: I can adjust a budget based on different scenarios.

• Write your LT in your planner. DO IT. NOW.

• You need your JA book… please open to page 71 of your workbook and wait for instructions.

• Don’t start moving ahead… WHAT IF something happens to Ramon? You won’t know until class starts. ;)

Tuesday, May 13, 2014LT: I can create spending plans and adjust budgets based on different scenarios.

• Write your LT in your planner. DO IT. NOW.

• BE SILENT AT THE BELL, PLEASE.

• If you need to re-take your test, please SEE ME. I said we’d be taking it today, but I need a number of who is committed to taking it before I devote class time to it!

• On a scratch piece of paper (there is some by the window if you need it) make a quick lists of things the head of your household NEEDS to pay for and a list of things they WANT to pay for.

Tuesday, May 13, 2014LT: I can create and adjust a budget for my “life.”

• Write your LT in your planner. DO IT. NOW.

• BE SILENT AT THE BELL, PLEASE.

• Get out a new, blank piece of paper for today’s assignment.

• No, I don’t have any.

How much money do “I” make?

• Salary cards:

• $20,241 dropped out of HS

• $30,627 got a HS diploma

• $56,665 got a Bachelors Degree

• Taxes:

• Subtract 10% from your salary to find out your NAI.• Multiply your salary*.1 and subtract that number from your salary.

What’s my family situation?

• If you drew a FACE CARD (Jack, King, or Queen), you have a child.

• Subtract $8,830 from your take-home pay.

• If you drew any other card, you have no children.

• **FIGURE OUT HOW MUCH MONEY YOU MAKE IN A MONTH BY DIVIDING YOUR NAI by 12!

What am I going to spend it on?FIXED EXPENSES

• RENT

• 1 bedroom (only for those with no kids) $700/month

• 2 bedroom (need if you have 1 kid) $850/month

• 3 bedroom (need if you have 2 kids) $1100/month

• UTILITIES

• 1 bedroom $150/month

• 2 bedroom $180/month

• 3 bedroom $210/month

What am I going to spend it on?FIXED EXPENSES

• TRANSPORTATION COSTS

• Bus Fare: $100/month

• Fuel Efficient Car $50/month gas

• SUV/Truck/Luxury Car $100/month gas

• INSURANCE

• AUTO $120/month (only if you have a car)

• HEALTH $50/month

• RENTERS $15/month

What am I going to spend it on?PRIMARY EXPENSES

• CELL BILL

• $70/month per Smart Phone on your plan

• GROCERIES

• $250 if you NEVER eat out.

• Add $5 for every fast food meal you plan on eating.

• Add $20 for every “fancy” restaurant meal you plan on eating.

What am I going to spend it on?SECONDARY EXPENSES How much can you afford to spend on the following?

• CLOTHING

• How much do you want to spend on clothes each month?

• $75 per pair of shoes

• $40 per pair of jeans

• ENTERTAINMENT

• Internet?

• Xbox Live?

• Video games?

• Movies?

• Magazines?

• Furniture?

• OTHER?

What About SAVINGS?

How much can you afford to SAVE each month?

This should be a priority!

Do you need to adjust so that you are putting SOMETHING away?

Thursday, May 15, 2014LT: I can review information from Unit 1, 2, and 3 to prepare for Unit 4.

• Write your LT in your planner. DO IT. NOW.

• BE SILENT AT THE BELL, PLEASE.

• You need NEW CLEAN BLANK PAPER set up as Cornell Notes.

• NO, I do not have any paper for you.

• You will be reviewing past learning today, so make sure you have your JA book and any notes you may have taken.

What do I need to have Cornell Notes on?• The use of debit cards and credit cards, and the difference between the two.

• What is interest, and how does it work?

• How do savings accounts differ from checking accounts? How can they benefit you?

• Income Tax, Sales Tax, Property Tax; the purpose of each and how to calculate them.

• Social Security and FICA

• GAI, NAI, and NMI: what are they, and how do you calculate them?

• What is a budget? How is it used?

• Different kinds of expenses: primary, secondary, fixed, and variable.

Thursday, May 15, 2014

LT: I can review information from Unit 1, 2, and 3 to prepare for Unit 4.

Friday, May 16, 2014LT: I can show what I know about budgets and planning as well as past JA units.

• Write your LT in your planner. DO IT. NOW.

• BE SILENT AT THE BELL, PLEASE.

• Take out your notes from yesterday. These are the ONLY notes you’re allowed to use.

• We will begin the test shortly.

Friday, May 16, 2014LT: I can show what I know about budgets and planning as well as past JA units.• VOICE LEVEL 0 DURING THE TEST.

• When you are finished, you are NOT FINISHED. Turn your test over and write a budget for Wade using the following information:

• His rent is $1100 and includes his utilities, except electricity, which is $81 a month.

• His car insurance is $103 a month and he spends about $80 a month in gas. His car, which he is paying off still, costs him $250 a month.

• His cell bill runs him $79 a month, and his credit card minimum payment is $15.

• He MUST purchase food for himself. • The average person spends $250 on groceries, $5 per fast food meal, and $20 per

restaurant meal.

• He has a dog, so he MUST purchase food and care for Fido.• The average person spends $132 a month on a medium sized dog.

• What does he spend the rest of his money on?

• Find something SILENT to do when you are finished.

Tuesday, May 20, 2014LT: I can determine my NMI and begin to budget

• Write your LT in your planner. Now, please.

• Open your JA book to page 87. We will go through this together, but you may preview it.

• Be SILENT and READY at the bell.

Find a group

• NO MORE than FOUR PEOPLE.

• You must be all at the same table.

• If there are people who do NOT have a group and you have an extra seat at your table, you MUST let them sit there.

• If I hear ANYONE denying someone an untaken seat, we will stop and Ms. Hall will make your groups for you.

Life Profile (pg 91-92)

• Fill this out based on your Life Situation Card.

• You will make up the information for #7-11.

• Fill in the Chance Card information on page 92 when you receive your Lucky Chance and Unlucky Chance cars.

• DO NOT fill in the “Budget Process Completion” section.

NMI Worksheet (page 93)• Use your Life Situation information and your Chance Cards to

fill in your NMI Worksheet.

• You may work with the people at your table OR alone.

Budget Guidelines (page 94)• Calculate the LOWEST you can go on each item and the

HIGHEST you can go on each item to give you a guideline of how you should budget.

• Percentages are given.

Established Expenses (page 95)• Calculate your Established Expenses using information from

your Life Situation Card.

Abbrv. COMPANY COST as of 5/20

BAC Bank of America $14.48JCP JC Penney $8.97PFE Pfizer Pharmeceuticals $29.27GM General Motors $33.06GE General Electric $26.20F Ford Motor Company $15.57RAD Rite-Aid $7.72VZ Verizon $48.75ODP Office Depot $5.04WFC Wells Fargo $48.93S Sprint Nextel $8.99KO Coca Cola $40.62HPQ Hewlett Packard $32.78TWX Time Warner Cable $68.83PG Procter and Gamble $80.21KGC Kinross Gold $3.93DIS Walt Disney $80.86VLO Valero Fuel Co. $54.92DAL Delta Airlines $37.73WMT Walmart $75.81MGM MGM Mirage Resorts $23.71LYV Live Nation Concerts $22.78

Choose THREE of the stocks to the right that you believe will earn youmore money than they lose.

The number of stocks you own is determined by your Life Situation Card.

Wednesday, May 21, 2014LT: I can determine the cost of my housing and utilities.

• Write your LT in your planner, NOW.

• We are going to check out our stock portfolio! Open to page 91 and look at question #6. What three companies did you choose? You will need to know them soon.

• We will finish page 96 using this information. TOGETHER.

• Pages 93-95 are your PRIORITY today… they MUST be completed before you start apartment hunting!

• Once you’re ready to find a place to live, complete the following:

• Page 100: finding out the cost of your rent

• Page 101: Utility costs

• Page 102: Car Shopping must be completed using a computer. See Ms. Hall when you are ready for this.

Abbrv. COMPANY COST WHEN WE STARTED

ACTIVE COST 5/21

BAC Bank of America $14.48 $14.61JCP JC Penney $8.97 $8.82PFE Pfizer Pharmeceuticals $29.27 $29.53GM General Motors $33.06 $33.33GE General Electric $26.20 $26.44F Ford Motor Company $15.57 $15.88RAD Rite-Aid $7.72 $7.74VZ Verizon $48.75 $49.22ODP Office Depot $5.04 $5.03WFC Wells Fargo $48.93 $49.64S Sprint Nextel $8.99 $9.10KO Coca Cola $40.62 $40.85HPQ Hewlett Packard $32.78 $32.55TWX Time Warner Cable $68.83 $69.43PG Procter and Gamble $80.21 $80.53KGC Kinross Gold $3.93 $3.93DIS Walt Disney $80.86 $82.02VLO Valero Fuel Co. $54.92 $53.94DAL Delta Airlines $37.73 $38.10WMT Walmart $75.81 $75.33MGM MGM Mirage Resorts $23.71 $24.07LYV Live Nation Concerts $22.78 $23.37

Choose THREE of the stocks to the right that you believe will earn youmore money than they lose.

The number of stocks you own is determined by your Life Situation Card.

May 22, 2014LT: I can determine my extra costs to begin to finalize my budget before JA Finance Park.

• Preliminary Budget Work (pg. 91-96)

• If you’re STILL having trouble with these, let Ms. Hall know and she will help you.

• Housing Expenses

• Page 100: Fill out using the For Rent Guide from Ms. Hall

• Page 101: Using the information from page 100, determine the cost of your utilities.

• Transportation Expenses

• Page 102-103: Fixed Expenses. Ms. Hall’s website has a link to AutoTrader. Use this website to find a car you wish to purchase, and use it to finish page 102. • Make sure you write down the year your car is, the mileage, the price, and if it is NEW or USED.

• Page 104: Use the information about YOUR car to answer the questions on page 104.

• Additional Expenses

• Page 105: Use the information given to improve your home. You MUST spend at least $600.

• Page 106-112: Ms. Hall will has computers available and information to help you shop. Please use the catalogs on Ms. Hall’s SWIFT site when filling out and finishing these pages.

May 27, 2014LT: I can determine my extra costs to begin to finalize my budget before JA Finance Park.

• Preliminary Budget Work (pg. 91-96)

• If you’re STILL having trouble with these, let Ms. Hall know and she will help you.

• Housing Expenses

• Page 100: Fill out using the For Rent Guide from Ms. Hall

• Page 101: Using the information from page 100, determine the cost of your utilities.

• Transportation Expenses

• Page 102-103: Fixed Expenses. Ms. Hall’s website has a link to AutoTrader. Use this website to find a car you wish to purchase, and use it to finish page 102. • Make sure you write down the year your car is, the mileage, the price, and if it is NEW or USED.

• Page 104: Use the information about YOUR car to answer the questions on page 104.

• Additional Expenses

• Page 105: Use the information given to improve your home. You MUST spend at least $600.

• Page 106-112: Ms. Hall will has computers available and information to help you shop. Please use the catalogs on Ms. Hall’s SWIFT site when filling out and finishing these pages.

May 29, 2014LT: I can show what I know about budgeting, finance, and other JA concepts.

• Write your Learning Target in your planner.

• Grab your computer.• If you forget which one is yours, check the list taped to the printer.

• Turn on the computer but DO NOT DO ANYTHING ELSE.

• When Ms. Hall calls for attention, be silent and ready!