Earnings and Profit for Businesses. Profit definition: Earnings minus expenses. Growth of money through investments: Interest Rates and rate of return. Example problem calculation using Simple Interest Rate.
Assignment
None
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
During today's lesson on Earnings , Profit, and Investing money at a specified interest rate, Colson was was well focused and engaged in this topic. He understood the concepts of increasing business profits by increasing earnings and lowering expenses, and he practiced an example problem involving investing a principal amount with a fixed interest rate.
Student was absent today due to early dismissal.
Budgeting Methods: Earnings, Expenses, Effects of inflation and possible emergency/unexpected costs. 5 Principles of Financial Literacy: EARN, SPEND, SAVE, BORROW, PROTECT
Budeting methods and considerations: Expenses, Income, Projected increases in expenses due to inflation, Emergency funds in a budget. Five main principles of Financial Literacy: EARN, SPEND, SAVE, BORROW, PROTECT.
Example of a family/small business budget demonstrating effects of inflation.
Assignment
Bring calculator to class soon.
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
During today's session of basic budgeting calculations, Colton was very attentive and engaged in this topic. We discussed the importance of incorporating possible effects of inflation into a budget. A specific small businees/family budget example was provided and calculations methods were demonstrated.
Overview of Financial Literacy. Goals/objectives of the course and discussion of a business budget. Key components and reasons for a budget: Use of spreadsheets and financial plans and forecasts.
Assignment
Have parent(s) contact me about Finacial Lit. course goals and features
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
During today's Introductory Financial Literacy session with Colton, I discussed the course goals and general scope of content with him. I mentioned that I will try to modify the course topics and
related skills to be customized to Colson's needs and his parents' desires. Colton appeared to be excited about the potential benefits of a Financial Literacy course for his future business and academic endeavors.
We will prepare an example budget for a high school math department and determine the budgeted amount for the various items based on percentages. We will discuss the meaning of this budget and how it can be used for planning now and in the future. This is based on my experience as a math department chairperson.
Assignment
none
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
The lesson was completed as planned. We had time to discuss budgets as a guide and not to be followed exactly. We discussed how to use one year's budget to plan for the next year and beyond.
We will brainstorm the concept of a budget by sharing ideas of what a budget is, how is a budget used, and why budgets are important.
Assignment
none
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
We had a very good session of sharing ideas. We now have some direct for our study of the budgeting process and how percents and proportions will be a part of the process.
We will do examples of solving proportions. We will also do some problem solving involving ratios and proportions. We will look at financial applications of proportions.
Assignment
none
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
We did lots of examples. Colson has a good understanding of proportions. We will do financial problems next class.
We will do problems involving percents, decimals, and fractions. We will change from one form to another. We will look at applications that use percents.
Assignment
none
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
We did many example problems. Colson has a goon understanding of the concepts presented.
