Day 18 (PF)

FYI:

  • LAST DAY VIRTUAL BUSINESS CHALLENGE–MARCH 1, 2019
  • Save the extra: Did you know you’re more likely to save a windfall than a small amount consistently over time? Hack that psychology by saving your bonuses, raises, and tax refunds. This tax season, get ahead of your financial goals by depositing at least $50 of your refund into a savings account. If you do, you’ll also be eligible to win one of over 100 prizes up to $10,000 by entering SaveYourRefund!
  • Save as a family: Good savings habits start at home. Model good financial habits by saving money from your paycheck, delaying purchases until you can afford them, avoiding whim purchases, and establishing a monthly budget. Encourage your family members to do the same.
  • Studies show few Americans have adequate savings for retirement but it’s never too late – or too early – to start saving. Saving now for retirement will help ensure you have enough money to enjoy a comfortable standard of living when you stop working. Participate in a work-related retirement program such as a 401(k) or open an Individual Retirement Account (or IRA). Already saving for retirement? Try increasing the amount you save by 1 percent each year.

RIGHT NOW:

  1. WATCH THIS VIDEO ABOUT RECONCILING WITH A BANK STATEMENT & DO IT: https://screencast-o-matic.com/watch/cqn2l738LM
    1. SHOW MRS. WEBER WHEN YOU ARE DONE–THIS WILL GO IN MY GRADEBOOK!!
  2. WATCH THIS VIDEO ON MAINTAINING YOUR CREDIT CARD BALANCE: https://screencast-o-matic.com/watch/cqn2Ii38NN
    1. SHOW MRS. WEBER YOUR CREDIT ACCOUNT–THIS WILL GO IN JMC
  3. WATCH THIS VIDEO ON EARNING YOUR SAVING FOR RETIREMENT TROPHY & YOUR DEBT REDUCTION TROPHY: https://screencast-o-matic.com/watch/cqn2I438Pd
    1. In an email message to Mrs. Weber, explain what you need to do to achieve these trophies.
  4. READ AND DO THE FOLLOWING:
    1. BUDGET CHALLENGE–PAYROLL: This unit discusses the various ways workers are paid and explains the value of fringe benefits. It describes the payroll process and typical deductions that make up the difference between gross and net pay. It also introduces the concepts of retirement savings and insurance in determining typical costs of Social Security and the employee’s share of health insurance premiums as part of payroll deductions. In the simulation, the student is employed in a salaried position with fringe benefits including a health insurance plan detailed on the employer page.  Pay is direct deposited and students receive an electronic pay stub detailing gross and net pay,  federal and state tax withholding, Social Security, Medicare, health insurance premium and elective 401(k) deductions.
    2. Before you leave today you will learn about:
      1. Salaried vs Hourly (CW2.1)
      2. The paystub (CW2.2)
      3. Payroll deductions (CW2.3)
      4. Voluntary and Involuntary Deductions (CW2.4)
      5. Net Pay versus Gross Pay (CW2.5)
      6. Fringe Benefits (CW2.6)
    3. RIGHT NOW:
      1. Log in to your Budget Challenge account
      2. From your Dashboard under Written Tests click  VIEW DETAILS and next to (CW2) PAYROLL click UNIT MATERIAL
      3. READ EVERYTHING & WATCH ALL THE VIDEOS!! TODAY IS A LEARNING DAY!!
      4. Once you feel like you know everything there is to know from the Unit Materials, take the quiz–you do not have to do this today!! REMEMBER: USE THE UNIT MATERIAL TO HELP YOU LOOK THE ANSWERS UP!! THIS IS NOT CHEATING!! YOU ARE LEARNING!!! I would right click the UNIT MATERIAL button and open it in a new tab so it is easier to answer the questions by looking up the answers in the Unit Material. NOTICE THE DUE DATE FOR THE QUIZ. ALSO, THIS GRADE WILL GO IN THE TEST/PROJECT PORTION OF MY GRADEBOOK!!