Outcome 2 Section 1
Money Management
The most important skill you need to acquire is how to get money, spend money, save money, borrow money and invest money. In this section of the CALM course, you will be introduced to how to manage your money and not let it manage you.
In the following rap, there are tips on how to manage your money.
Assignment
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Blog Entry 2.1.1
Using the Rap, what tips do the rappers give for you to manage your money and not let it manage you.
Using the Rap, what tips do the rappers give for you to manage your money and not let it manage you.
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Chapter 1: TEENS AND MONEY
Go to the following website and complete the five lessons.
Planning for Your Future
Imagine your life 5 years from now. Where will you be? What will you be doing? Will you be in school? Will you be working? A lot of your decisions will be based on money. You will need a little future thinking and imagination for this assignment. If you can dream it, you can achieve it. From the 5 year goal you have let's get real, how much money will it take? Fill out the financial goal worksheet and the budget worksheet to see how much money you need for your goainls. (you can use the money calculator to help you determine how much money you need to save)
Go to the following website and complete the five lessons.
Planning for Your Future
Imagine your life 5 years from now. Where will you be? What will you be doing? Will you be in school? Will you be working? A lot of your decisions will be based on money. You will need a little future thinking and imagination for this assignment. If you can dream it, you can achieve it. From the 5 year goal you have let's get real, how much money will it take? Fill out the financial goal worksheet and the budget worksheet to see how much money you need for your goainls. (you can use the money calculator to help you determine how much money you need to save)
Assignments
Financial Goals
1. Budget Worksheet
2. Blog Entry 2.1.2
What are your goals? How does your budget support your goals? Is it difficult to live and save for big items? What is an alternative to saving?
1. Budget Worksheet
- download worksheet and complete
2. Blog Entry 2.1.2
What are your goals? How does your budget support your goals? Is it difficult to live and save for big items? What is an alternative to saving?
Chapter 2: BUYING A CAR
Buying a car is usually the first big purchase a young adult makes. Take a look at the tip sheet: and follow the directions before choosing a dealership.
Choose a local dealership and go interview the sales person using the following questions:
This can be recorded for an assignment. (see Forms under Google Classroom for the dealership)
Buying a car is usually the first big purchase a young adult makes. Take a look at the tip sheet: and follow the directions before choosing a dealership.
Choose a local dealership and go interview the sales person using the following questions:
This can be recorded for an assignment. (see Forms under Google Classroom for the dealership)
- What are the steps in buying a car?
- How do you know you are getting a good vehicle? (Especially if it's a used vehicle.)
- Where can you buy a vehicle? (dealerships, used car dealerships, privately, kijiji) What are the pros and cons for each?
- What are some pitfalls to buying a vehicle?
- In your experience, which vehicles should you buy? (best bang for your buck)
- With the salesman, have him walk you through purchasing a vehicle
- Price you’re paying for the vehicle
- Amount you’re financing
- Annual percentage rate (APR – the rate of interest you are charged annually)
- Additional finance charges
- Number and amount of payments
- Total sales price
Assignment
Car Buying Interview
You can video the interview (get FOIP form filled out) and go to google hangout at a time TBA by your teacher to discuss your videos as a class. (see rubric for videos and discussions)
OR
Alternative Assignment
10 Tips for Teens Buying a Car
Steps to Creation
Car Buying Interview
You can video the interview (get FOIP form filled out) and go to google hangout at a time TBA by your teacher to discuss your videos as a class. (see rubric for videos and discussions)
OR
Alternative Assignment
10 Tips for Teens Buying a Car
Steps to Creation
- Use the information from your interview and research (5 MARKS)
- Each tip needs a brief explanation (5 MARKS)
- Include a graphic and use a border, numbering and different colored font between the tip and the text) 2 MARKS
- Be concise and use appropriate language (2 marks)
Chapter 3: CHEQUING AND SAVINGS ACCOUNTS
Read through this information. Now banks have more options than chequing and debit cards for transactions. Research 3 banks in your area and answer the following questions in a blog post
Read through this information. Now banks have more options than chequing and debit cards for transactions. Research 3 banks in your area and answer the following questions in a blog post
Assignment
Blog Entry 2.1.3
- Which bank has the best deal for students? (types of accounts, services and cost per month)
- Which bank do you have an account with? Which bank do your parents use?
- Can you email money? Have you emailed money?
- Do they have an app for the smart phone?
- Can students get credit cards? What's the limit or the interest rate? Which bank has the best deal?
.Chapter 4: CREDIT CARDS
1. Watch Family Guy
1. Watch Family Guy
Blog Entry 2.1.4
Find a comic strip that outlines the pitfalls of credit cards and post it with a personal story about credit cards. (you, your family or friends.
Find a comic strip that outlines the pitfalls of credit cards and post it with a personal story about credit cards. (you, your family or friends.
Chapter 5: INVESTING
It has been said that those who don't understand interest pay it, and those that understand it, earn it! Check the website for information on investing.
In Canada, we also have Canadian Savings Bonds and Tax Free Savings accounts.
As a learning activity, you are going to be given $500.00. Find the best investment option for you to invest
Go to any major bank's website and browse the investments menu. They have interest calculators and options for your money.
Or you can contact a financial advisor at a bank or an investment company to do it for you!
Assignment
Best Investment Options
On a google slide presentation, show the 5 year growth on each of the six options.
On the final slide, determine the pros and cons of each and choose which investment would work best for your financial goals
It has been said that those who don't understand interest pay it, and those that understand it, earn it! Check the website for information on investing.
In Canada, we also have Canadian Savings Bonds and Tax Free Savings accounts.
As a learning activity, you are going to be given $500.00. Find the best investment option for you to invest
- mutual funds
- stocks
- tax free savings
- Bonds
- Certificates
- Guaranteed investment certificates (GIC)
Go to any major bank's website and browse the investments menu. They have interest calculators and options for your money.
Or you can contact a financial advisor at a bank or an investment company to do it for you!
Assignment
Best Investment Options
On a google slide presentation, show the 5 year growth on each of the six options.
On the final slide, determine the pros and cons of each and choose which investment would work best for your financial goals