Bell Ringer. Linda bought a new sewing machine for $599.95 (no tax) and then returned it for one that was $451.77 (no tax). Figuring 6% sales tax, what would be the total of the refund ? Have your homework out to be checked off for a completion grade. Bell Ringer Answer.
1. 93% of teens agree that it is important to live within their means and have good money habits in order to be successful.
2. 86% of teens expect their parents to stop supporting them before age 25.
3. 63% of teens say they are knowledgeable about money management, including budgeting and saving.
4. 62% of teens believe they are prepared to deal with the finances after high school.
5. 41% of teens say they are very or somewhat knowledgeable about how to budget money.
6. 34% of teens say they are very or somewhat knowledgeable about how to balance a checkbook and reconcile an account register to a bank statement.
7. 51% of teens say they are very or somewhat knowledgeable about how to write a check.
8. 58% of teens have more than $100 in savings.
9. Teens report spending an average of $19 per week.
10. The top four things teens spend money on (according to our survey of 1,000 students around the country) are food, clothes, gas and entertainment.
This chapter explains the benefits of a budget and demonstrates how to complete a zero-based budget. An in-depth explanation of balancing a checkbook is included.
Introduce Chapter 7
Parts 1 and 2 of Dave Ramsey
Parts 3 and 4 of Dave Ramsey
How to Write Checks
Parts 5 and 6 of Dave Ramsey
Consumer Equity Activity
Family Budget Activity
Family Budget Activity
Chapter 7 Review
Chapter 7 Test
Read ‘How to Write a Check’ on page 1 – CHECK THE BOARD FOR AN EXAMPLE.
On page 2, write the following three checks:
Check #1 – You bought groceries at Kroger for $123.96
Check #2 – You paid your cell phone bill to AT&T for $96.25
Check #3 – You paid your senior/junior dues to Moore for $50.00
Read ‘Part 2’ on page 3, regarding filling out a check register properly AND page 97 in your workbook.
Complete the check register, using the three checks you just wrote.
You made a deposit of $63.25 to your account. Add this to your check register.
In the white space on page 3, answer the following question:
‘Why is it important to fill out a checkbook register and balance your checkbook each month, even though my bank has online banking?