Day 7

Learning Objectives

  • Identify the Five Foundations of personal finance.
  • Understand the purpose of having an emergency fund.

Assignment 2.1.1

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

Assignment 2.1.2

  1. Inside of your Unit 1 folder, create a new folder titled Chapter 2.  Everything you complete for Chapter 2 will be stored within this folder.
  2. Watch Video 1.1
  3. As you watch the video, record the missing words from page 32-34 of the Chapter 2 Textbook as they pop up on the left side of the video screen by filling in this form.  (page 32-34) .
  4. Discussion Questions:
    1. What is the purpose of the Five Foundations?
    2. What does it mean to have a negative savings rate?
    3. Why do you think Americans, in general, are not good savers?
    4. How can having an emergency fund help you to protect and grow your wealth?
    5. Look at the list of 10 ways (p. 35) teens can come up with $500 quickly.  Which of those ideas might or have worked for you?

Assignment 2.1.3

  1. With a partner, create a mini-poster of the Five Foundations presented on page 32 of your Chapter 2 Textbook.  Your poster should include the following: 
    • a pictorial representation of each of the Five Foundations
    • a brief description of how you plan to follow through with each step
    • a label for each drawing stating which of the Five Foundations is represented
  2. Be creative and make your poster visually appealing.

Assignment 2.1.4

  1. Make a copy of this Google Document.
  2. Rename the file to Personal Finance Journal-C2-(Your Initials).
  3. Move this file into your Chapter 2 folder in your Google Drive.
  4. Fill out the first two rows of the table.