Test date changed

Your test has been pushed back to May 21st, 2015.  Packets should be completed by then.  They will not be accepted late.

Catch Up Day

May 8th, 2015

Warm Up

1. What is the difference between gross income and net income?
2. Name 3 payroll deductions taken out of your paychecks.

Learning Objective:  Students will understand how to be financially responsible.

Success Criteria: Students will be able to define new vocabulary, explain the value of their education, and explain their paychecks.




Today is a catch up day to help you in case you fell a little behind.  By the end of today you have no excuse not to be done with your work through page 7 of your packets.

If you are caught up you should use this time to work ahead or make sure your entire group has ALL the right answers by having your packets checked by Mr. Dunbeck.

Complete through page 7 of your packets using the booklet.

DO NOT WRITE ON THESE BOOKLETS!!!!!

DO NOT TAKE THESE BOOKLETS OR PACKETS WITH YOU!!!

Electronic copies of both can be found on the class blog under the packets section over there.

Your Paycheck

May 7th, 2015

Warm Up

1. About how much is each class period in high school actually worth for you?
2. How could viewing a job as short-term rather long-term change how you act on the job?

Learning Objective:  Students will understand how to be financially responsible.

Success Criteria: Students will be able to read and explain their paychecks.







Today we're going to learn how to read and understand our paychecks to make sure that we are getting paid what we're supposed to be getting paid.

We'll also figure out why your gross income and your net income are different.

Let's look at this example from your packet.

You get paid differently depending on if you work overtime (more than 40 hours a week or 8 hours a day) or not.  

You also get money taken out of your check for payroll deductions such as:

1. federal income tax - Money taken from your check and given to the federal government to pay for services it provides like the military, food stamps, Congress & the President’s salary, etc
2. state income tax - Money taken from your check and given to the state government to pay for services they provide such as aid to local schools, police/fire departments, road building, etc.
3. medicare tax - Money taken from your check to pay for basic medical care for the elderly and the disabled
4. social security tax - Money taken from your check to provide some income to people too old to work or people with disabilities

Other payroll deductions could include union dues, insurance costs, retirement plans, etc.

The difference between the amount you earned and the amount you actually get to take home and use to pay your bills and meet your wants and needs creates the difference between gross income (the amount you earned) and net income (the amount you actually get to keep)

Complete pages 6 & 7 of your packets using the booklet.

DO NOT WRITE ON THESE BOOKLETS!!!!!

DO NOT TAKE THESE BOOKLETS OR PACKETS WITH YOU!!!

Electronic copies of both can be found on the class blog under the packets section over there.

The Value of Education

May 6th, 2015

Warm Up

Define the following:

1. Asset
2. Gross Income
3. Payroll Deductions

Learning Objective:  Students will understand how to be financially responsible.

Success Criteria: Students will be able to identify some of their assets and and explain the financial value of their education.







Why does education matter?

Economically speaking it increases your ability to earn money so you can better meet your wants and needs.

But by how much?

The difference between graduating high school and dropping out is ...

$10,963 A YEAR in earnings

Some college adds an extra $5,983 A YEAR to your income

A 2 year degree adds an extra $4,293 A YEAR to your income

A 4 year degree or higher adds an extra $19,242 A YEAR to your income

The average difference between a high school drop out and a 4 year college graduate...

$40,481 A YEAR in income

So how much does each class add to your lifetime income?  i.e. How much is each class period actually worth in terms of dollars? (Assuming you graduate high school in 4 years)

All data comes from the 2010 US Census.

Complete pages 4 & 5 of your packets using the booklet.

DO NOT WRITE ON THESE BOOKLETS!!!!!

DO NOT TAKE THESE BOOKLETS OR PACKETS WITH YOU!!!

Electronic copies of both can be found on the class blog under the packets section over there.

Personal Finance Vocabulary Part 1

May 5th, 2015

Warm Up

1. What is poverty?
2. What are some problems living in poverty causes?

Learning Objective:  Students will understand how to be financially responsible.

Success Criteria: Students will be able to define new vocabulary to help them understand the concepts of personal finance.








Due to the Sophmores taking the ACT Aspire we can not use the chromebooks for our vocabulary. Instead we will be playing the Team Play Game Show!

As we reveal the answers in the game, write the definitions down on page 3 of your packets.

Your teams are your groups.  No you may not switch groups.

1st place - 1000 Dun-Bucks

2nd place - 900 Dun-Bucks

3rd place - 800 Dun-Bucks

4th place - 700 Dun-Bucks

5th place - 600 Dun-Bucks

6th place - 500 Dun-Bucks

7th place - 400 Dun-Bucks

8th place - 300 Dun-Bucks

Complete Page 3 of your packet by the end of class today.

DO NOT TAKE THESE BOOKLETS OR PACKETS WITH YOU!!!

Intro to Personal Finance Unit

May the 4th be with you, 2015

Warm Up

What is a budget and why is making one important?










Learning Objective:  Students will understand how to be financially responsible.

Success Criteria: Students will be able to explain how difficult it is to survive on a low income.

Lesson: 3 Income classes

We divide people into 3 income groups based on our income; upper, middle, lower.

Upper class is the wealthiest in our country

Middle class is where you can afford to meet your needs and some of your wants

Lower class is where you struggle to meet your basic needs

What is poverty?

poverty = not having enough money to meet most or all of your needs

government programs such as free school lunch & food stamps are only given to those who qualify as living in poverty

According to the 2010 census, 29% of people living in Milwaukee are considered living in poverty compared to 13% of the State of Wisconsin as a whole. 

35% of Hispanics and 41% of African Americans in Milwaukee are living in poverty. - JSonline

Let's play a game and see if we can make it 1 month living in poverty...

Why is poverty bad?

"Poverty extends into every arena of society and is associated with many social and economic problems. Poverty is intimately related to inadequate nutrition, food insecurity, exposure to environmental toxins, family and street violence, residential instability, mental health issues, decreased educational attainment, and decreased access to employment opportunities among other detrimental issuesviii. The local economy weakens because without a strong employment pool, private sector businesses lack incentive to stay in our community and provide much-needed jobs to all residents." - Social Development Commission

Zondle Updated

May 3rd, 2015

Zondle has been updated with 2 new question sets for you to practice with:

• Personal Finance Vocab 1
• Personal Finance Vocab 2

Both of these will earn you Dun-Bucks for playing.

A third set will added soon.

• Personal Finance Review

Your test for this unit will be on May 19th, 2015.  The packet and the booklet we will be using for this unit can be found on the right-hand side of this page under the "packets" section.

Right over here:

Happy gaming.

In Solidarity,

Mr. Dunbeck