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Money Money Money

Money Money Money. SS6E4 The student will explain personal money management choices in terms of income, spending, credit, saving, and investing. What do you want to be?. Monthly Salaries. Teacher $3,000/mo. Doctor $12,000/mo. Engineer $4,500/mo. Lawyer $7,300/mo. Architect $4,750/mo.

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Money Money Money

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  1. Money Money Money SS6E4 The student will explain personal money management choices in terms of income, spending, credit, saving, and investing.

  2. What do you want to be?

  3. Monthly Salaries • Teacher $3,000/mo. • Doctor $12,000/mo. • Engineer $4,500/mo. • Lawyer $7,300/mo. • Architect $4,750/mo. • Dentist $10,800/mo. • Nurse $5,000/mo. • Waiter/Waitress $1,700/mo. • Chef $5,000/mo. • Military $2,500/mo. • Pilot $7,900/mo. • Actor/Actress $4,200/mo. • Police $4,200/mo. • Fire Fighter $3,400/mo. • Professional Athlete $2,500/mo.

  4. House Payments Choose one: • Big, fat, home in a “rich” neighborhood • Big home in an average neighborhood • Average sized home • Apartment rental

  5. House Payments • Big, fat, home in a “rich” neighborhood $3,509/month • big home in an average neighborhood $2,016/month • Average sized home $1,307/month • Apartment rental $823/month

  6. Food costs Choose one: • live off groceries = $35/week • eat out 2 times a week = $50/week • eat out 5 times a week = $80/week • eat out 10 times a week = $160/week

  7. Car payment Choose one: • Super nice car • Nice car • Okay car • Junky car

  8. Car payment • Super nice car $500/month • Nice car $350/month • Okay car $200/month • Junky car $100/month

  9. Insurance (car, health, & home) • smokers and fast drivers $250/mo. • healthy, non-smoker, fast driver $180/mo. • healthy, non-smoker, safe driver $140/mo.

  10. Cell phone • Do you have one? $45/month • If you do not have one? $0/month

  11. Gasoline expenses • Truck/hummer/SUV $100/week • Average sized car $50/week • Compact car/fuel efficient $30/week • Hybrid $15/week

  12. How do you want to retire? • Rich, in a nice house at the beach or in the mountains, going on vacations $1000/month • Average retirement plan $500/month • No retirement plan… Broke when you retire $0/month

  13. What if…? • You get in an unexpected car accident? • You need an emergency medical operation? • Your car needs new tires? • You want to go on vacation? • Gas prices go up? • You need new clothes? • Food prices go up? • You want to go to the movies? • You need new shoes? • You go over your cell phone minutes or text messages?

  14. The Trouble with Credit Cards • When people spend $$ they do not have. • http://www.brainpop.com/socialstudies/economics/creditcards/zoom.weml

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