Real Life Finances

Below is a breakdown of this week's lessons.  We will build off of our budgeting discussion and break down money management throughout the month.  I've given you all a typical starting salary for a typical job in which you net approximately $2,500/month in 2 pay periods ($1,250 on the15th and last day of each month).  I've assigned typical expenses and due dates in the "Typical Monthly Expenses" Google sheet.  With this information, we'll do the following:

Monday

B/R: Open budget spreadsheet and enter the fictitious values from our Google sheet

C/T: We can analyze essential financial information

1.       Set up bank account with first check

a.       What to bring?

                                                               i.      ID – 2 forms

                                                             ii.      Your check

2.       Use debit card

3.       Look at a check

a.       Routing number

b.      Account number

c.       Check number

Tuesday

B/R: Draw a check using the image provided:

C/T: We can analyze essential financial information

1.       Watch me fill out a check

2.       Write your own check for rent

3.       Other scenario for writing a check

Wednesday

B/R: Differentiate between routing # and account #

C/T: We can analyze essential financial information

1.       Online payments

a.       Easier? Harder? Safer?

b.      Scenarios for them

c.       Should you memorize routing & account #s?

2.       Which bills can you pay online?

3.       Can you send checks without a checkbook?

Thursday

B/R: Write due dates for each bill

C/T: We can analyze essential financial information

1.       How do you keep up with bills?

a.       Smart phone reminders

b.      Date book

c.       Email alerts

2.       How much cash should you carry at all times?

3.       What to do when emergency occurs

Friday

B/R: What is a realistic emergency that could occur?

C/T: We can analyze essential financial information

1.       What if that emergency costs more than what you have?

a.       Bills will still be due

b.      Negotiating payment plans for medical expenses

c.       Repercussions of not negotiating payment plans

2.       Blog post about what was learned this week