Day 11

Learning Objectives

  • Identify the Five Foundations of personal finance.
  • Understand the purpose of having an emergency fund.
  • Explain the three basic reasons for saving money.
  • Understand the importance of saving for both long-term and short-term goals.
  • Describe what a sinking fund is and identify purchases for which you would use a sinking fund.
  • Demonstrate how compound interest works and understand the impact of annual interest rate.
  • Describe the difference between simple and compound interest.
  • Understand the importance of beginning to save now.

Assignment 2.S.1

  1. Read each of these statements and mark whether you agree or disagree.

Assignment 2.S.2

  1. Make a copy of this Google Document.
  2. Name the document 3 Reasons to Save-(Your Initials) and move it into your Chapter 2 folder.
  3. Fill in the graphic organizer with the three things you need to save for.  Describe why each is important for your financial future.

Assignment 2.S.3

  1. Utilize this review to assess your learning from Chapter 2.  You have as many attempts to get as good of a score as you can.  You are free to use your Chapter 2 Textbook when going through this review.

Assignment 2.S.4

  1. Make a copy of this document.  
  2. Rename the document Short Answer 2-(Your Initials).
  3. Move the Short Answer 2-(Your Initials) into your Chapter 2 folder.
  4. Use your Chapter 2 Textbook to help answer your questions.

Assignment 2.S.5

  1. Make a copy of this document.
  2. Rename the document Case Studies 2-(Your Initials).
  3. Move the Case Studies 2-(Your Initials) into your Chapter 2 folder.
  4. Use your Chapter 2 Textbook to help answer your questions.
  5. Read THREE of the cases and write a possible resolution to the problems presented. Remember to apply the personal finance knowledge and principles you have learned in this chapter.