4.6 Budgeting for Fixed Cost

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33 questions

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OBJECTIVES & STANDARDS
Math Objectives
Represent constraints by equations or inequalities
Understand how changing parameters alters inequalities with two variables
Common Core Math Standards
Link to all CCSS Math
CCSS.PRACTICE.MP1
CCSS.HSA.REI.D.12
CCSS.HSA.CED.A.3
Personal Finance Objectives
Understand factors that affect net worth
Differentiate between fixed/variable expenses and needs/wants
Consider common fixed costs and explore various ways to reduce them
Specifically assess housing costs and how to reduce them
Identify government aid programs to assist with expenses
National Standards for Personal Financial Education
Spending
1b: Develop a budget to allocate current income to necessary and desired spending, including estimates for both fixed and variable expenses.
DISTRIBUTION & PLANNING
Distribute to students
Student Activity Packet

Instructions

OBJECTIVES & STANDARDS
Math Objectives
Represent constraints by equations or inequalities
Understand how changing parameters alters inequalities with two variables
Common Core Math Standards
Link to all CCSS Math
CCSS.PRACTICE.MP1
CCSS.HSA.REI.D.12
CCSS.HSA.CED.A.3
Personal Finance Objectives
Understand factors that affect net worth
Differentiate between fixed/variable expenses and needs/wants
Consider common fixed costs and explore various ways to reduce them
Specifically assess housing costs and how to reduce them
Identify government aid programs to assist with expenses
National Standards for Personal Financial Education
Spending
1b: Develop a budget to allocate current income to necessary and desired spending, including estimates for both fixed and variable expenses.
DISTRIBUTION & PLANNING
Distribute to students
Student Activity Packet

Intro-Warm-Up

Learn It

MATH CONNECTION -PERCENTS AND INEQUALITIES

Exit Ticket

4.6 Budgeting for Fixed Cost

4.6 Budgeting for Fixed Cost

What is the definition of wealth according to this video?

What would keep someone with a high income from being wealthy?

What do you think are the top three MOST IMPORTANT regular expenses for most people?

Summarize the difference between variable and fixed expenses.

Do you think that would be different as an adult? Why or why not?

Pick your three favorite strategies to read in more detail. Explain why you felt they were important.

Pick ONE tip and list how this tip could benefit someone who uses it

For that same tip, list reasons why someone would NOT follow that advice, whether because they’re not able to or don’t want to.

Describe one thing you learned about benefits available to American citizens from the federal government.

There are many families that do not receive the benefits they qualify for. What do you think are some reasons eligible families might not take advantage of these resources?

The single biggest expense for most households is...
1. Transportation
2. Food
3. Housing
4. Travel

Based on this graph, do you think most people spend more money on needs or wants? Explain your reasoning.

Housing costs are lower for people above 55 years old, compared to people between 35 and 54 years old. Hypothesize: why that might be the case?

What is the definition of wealth according to this video?

What would keep someone with a high income from being wealthy?

What do you think are the top three MOST IMPORTANT regular expenses for most people?

How could budgeting help someone build their wealth no matter what their income is?

Do you think there are any situations where a person would not be able to build wealth? Explain.

Summarize the difference between variable and fixed expenses.

Which do you think has a bigger impact on your finances as a student (fixed or variable)?

Do you think that would be different as an adult? Why or why not?

If you wanted to save money, would it be easier to cut down on fixed expenses or variable expenses? Why?

Do you think you'd save more money by reducing your fixed or variable expenses? Why?

Pick your three favorite strategies to read in more detail. Explain why you felt they were important.

Pick ONE tip and list how this tip could benefit someone who uses it

For that same tip, list reasons why someone would NOT follow that advice, whether because they’re not able to or don’t want to.

Describe one thing you learned about benefits available to American citizens from the federal government.

There are many families that do not receive the benefits they qualify for. What do you think are some reasons eligible families might not take advantage of these resources?

Which budget change would you rather make, fixed or variable. Why?

The single biggest expense for most households is...
1. Transportation
2. Food
3. Housing
4. Travel

Based on this graph, do you think most people spend more money on needs or wants? Explain your reasoning.

Housing costs are lower for people above 55 years old, compared to people between 35 and 54 years old. Hypothesize: why that might be the case?

How could budgeting help someone build their wealth no matter what their income is?

Do you think there are any situations where a person would not be able to build wealth? Explain.

Which do you think has a bigger impact on your finances as a student (fixed or variable)?

If you wanted to save money, would it be easier to cut down on fixed expenses or variable expenses? Why?

Do you think you'd save more money by reducing your fixed or variable expenses? Why?

Which budget change would you rather make, fixed or variable. Why?

4.6 Budgeting for Fixed Cost

4.6 Budgeting for Fixed Cost

What is the definition of wealth according to this video?

What would keep someone with a high income from being wealthy?

What do you think are the top three MOST IMPORTANT regular expenses for most people?

Summarize the difference between variable and fixed expenses.

Do you think that would be different as an adult? Why or why not?

Pick your three favorite strategies to read in more detail. Explain why you felt they were important.

Pick ONE tip and list how this tip could benefit someone who uses it

For that same tip, list reasons why someone would NOT follow that advice, whether because they’re not able to or don’t want to.

Describe one thing you learned about benefits available to American citizens from the federal government.

There are many families that do not receive the benefits they qualify for. What do you think are some reasons eligible families might not take advantage of these resources?

The single biggest expense for most households is...1. Transportation2. Food3. Housing4. Travel

Based on this graph, do you think most people spend more money on needs or wants? Explain your reasoning.

Housing costs are lower for people above 55 years old, compared to people between 35 and 54 years old. Hypothesize: why that might be the case?

What is the definition of wealth according to this video?

What would keep someone with a high income from being wealthy?

What do you think are the top three MOST IMPORTANT regular expenses for most people?

How could budgeting help someone build their wealth no matter what their income is?

Do you think there are any situations where a person would not be able to build wealth? Explain.

Summarize the difference between variable and fixed expenses.

Which do you think has a bigger impact on your finances as a student (fixed or variable)?

Do you think that would be different as an adult? Why or why not?

If you wanted to save money, would it be easier to cut down on fixed expenses or variable expenses? Why?

Do you think you'd save more money by reducing your fixed or variable expenses? Why?

Pick your three favorite strategies to read in more detail. Explain why you felt they were important.

Pick ONE tip and list how this tip could benefit someone who uses it

For that same tip, list reasons why someone would NOT follow that advice, whether because they’re not able to or don’t want to.

Describe one thing you learned about benefits available to American citizens from the federal government.

There are many families that do not receive the benefits they qualify for. What do you think are some reasons eligible families might not take advantage of these resources?

Which budget change would you rather make, fixed or variable. Why?

The single biggest expense for most households is...1. Transportation2. Food3. Housing4. Travel

Based on this graph, do you think most people spend more money on needs or wants? Explain your reasoning.

Housing costs are lower for people above 55 years old, compared to people between 35 and 54 years old. Hypothesize: why that might be the case?

How could budgeting help someone build their wealth no matter what their income is?

Do you think there are any situations where a person would not be able to build wealth? Explain.

Which do you think has a bigger impact on your finances as a student (fixed or variable)?

If you wanted to save money, would it be easier to cut down on fixed expenses or variable expenses? Why?

Do you think you'd save more money by reducing your fixed or variable expenses? Why?

Which budget change would you rather make, fixed or variable. Why?

The single biggest expense for most households is...
1. Transportation
2. Food
3. Housing
4. Travel

The single biggest expense for most households is...
1. Transportation
2. Food
3. Housing
4. Travel