Personal Finance 59a-d
Presentation
•
Social Studies
•
7th Grade
•
Practice Problem
•
Easy
Jean Pappas
Used 4+ times
FREE Resource
5 Slides • 10 Questions
1
Personal Finance
By Jean Pappas
2
Income
Earnings from work
It is limited!
3
Multiple Choice
Which is an example of income?
wages in the form of a paycheck
interest accumulated from a bank
calculating a check book to find the balance
taxes paid to the government for services
4
Budget
A tool to plan the spending and saving of income
You cannot have a budget without knowing your income first.
A budget is necessary so that you do not overspend and can save to have an emergency fund.
5
Multiple Choice
This person has money leftover to save with this budget.
True
False
6
Benefits of Saving
Reasons to SAVE:
Afford a vacation or desired larger purchase
Have an emergency fund
Be able to give to charitable causes
Have peace of mind that you are not in debt
7
Categorize
Afford vacation
Stuck at home
Give to charity
Pay interest trying to pay off debt
Have an emergency fund
Stress out becuase you are not prepared for an emergency
Benefits of Saving
8
Credit
Borrow money with interest
A bank will give you a loan for a large purchase like a car or home with a lower interest like 10%.
A credit card company will give you a loan with a much higher interst rate like up to 30%.
9
Multiple Choice
When should you use credit?
When all your friends have cool new clothes and you are feeling left out.
When you have been dying to go that concert and have a steak dinner prior.
When you need an outfit for an upcoming interview.
When you want pizza and ice cream becuase you did poorly on your test.
10
Multiple Choice
What is the problem with having too much credit?
It wil take a long time to pay it off and you will end up spending a lot more that the actual cost.
It can help you get the things you want now rather than having to wait until you have enough money to afford things.
11
Multiple Choice
What is a good rule if you are using credit?
use it sparingly for needs and not wants
pay more than the minimum payment
both answers are correct
12
Multiple Choice
Jason and Maria are a married couple without children who both work full-time.
Maria is a teacher, and her monthly income is $3,500. Jason is a firefighter, and
his monthly income is $2,800. Their expenses include: rent ($1,200), cars ($700),
utilities ($300), groceries ($500), and extras ($500).
How much is their total income?
$3,500
$2,800
6,300
3,200
13
Multiple Choice
Jason and Maria are a married couple without children who both work full-time.
Maria is a teacher, and her monthly income is $3,500. Jason is a firefighter, and
his monthly income is $2,800. Their expenses include: rent ($1,200), cars ($700),
utilities ($300), groceries ($500), and extras ($500).
How much is their total EXPENSES
$3,500
$2,800
6,300
3,200
14
Multiple Choice
Jason and Maria are a married couple without children who both work full-time.
Maria is a teacher, and her monthly income is $3,500. Jason is a firefighter, and
his monthly income is $2,800. Their expenses include: rent ($1,200), cars ($700),
utilities ($300), groceries ($500), and extras ($500).
How much is remaining for savings?
$3,500
$2,800
6,300
3,100
15
Multiple Choice
If the couple wants to go to Hawaii and need to save 10,000 dollars for the trip. How long will they need to save?
At least 4 months
over 2 years
9 months exactly
Personal Finance
By Jean Pappas
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