Thursday, February 20, 2014

Financial Literacy Homework Reminder!

Hey Advisory Fellows '14!

Don't forget to do your homework!

Due next Wednesday:
1) Budget sheet

  1. Your predicted spending when you graduate from LEC
  2. EITHER your family's monthly spending OR evidence of a discussion about some money related topic with your family 
    • Examples:
      • "Mom, how much do you spend on books for me in a year?"
      • "Dad, how much do we spend on groceries in a week?"
      • "Mom, when should I get a credit card?"
      • "Dad, when should I open up a bank account?"
      • "Mom, how much of your income goes to taxes?"
  3. An ideal budget column on your budget sheet (use your pie chart!)
2) A filled out careers/salaries table (see the blog post below)
3) A piechart showing your ideal budget (use your monthly salary from your careers/salaries table)

  • Example: 
    • Bob makes $4500 a month and wants to spend 50% of his money on food and 15% on car payments.
      • $4500*.50=$2250/month on food (put this number on your budget column)
      • $4500*.15=$675/month on car payments (put this number on your budget column)

Remember! You don't want to end up with my car...FOREVER...!!!!!

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