Planned vs Unplanned

What is

human capital?

Human capital is the skills,
knowledge, and experience a
person may have which shows
their value to a country or
organization.

Multiple Choice

Which of the following includes the knowledge, skills, education, and talent people bring to work?

• Capital resources

• Natural resources

• Financial capital

• Human capital

Okay…so…

what is labor?

Labor is the hard work, strong
effort, or struggle one performs
in order to complete a task that
pays the worker an income.

Multiple Choice

What is the work that a person does to earn an income?

• Labor

• Income

• Credit

• Salary

What is an

income?

Income is money received in
exchange for providing
a good or service. It might
also be called a salary, wage
or earnings.

Multiple Choice

What is income?

• The amount of bills a person pays monthly.

• The amount of loans a person borrows from a bank yearly.

• The amount a money an employer pays to an employee on a fixed basis.

• The number of hours an employee works per week.

​Availability

Having an abundant amount of goods and services compared to human wants.

​Scarcity

Not having an abundant amount of goods and services compared to human wants.

Multiple Choice

The most popular toy for Christmas is the MegaScooter2000. Stores can’t keep them in stock. Back in September the scooter cost $99. Now it cost $175

Is this scarcity or availability?

• Scarcity

• Availability

Multiple Choice

It was the end of the bake sale and we still had $100 of cupcakes. Instead of selling them for $1 each, we put them on sale for $0.50.

Is this scarcity or availability?

• Scarcity

• Availability

Multiple Choice

To let out your property for temporary use understanding that it will be paid or given back

• Borrow

• Lend/Lender

​When we use credit, we are borrowing money from the bank. Banks will allow you to borrow their money as long as they get something in return....

​....sooo they charge interest. All credit cards require interest.

Multiple Choice

Which of the following best describe interest?

• Amount of money that is borrowed

• Amount of money borrowed that must be repaid

• Amount of money paid for a purchase

• Amount of money paid to a lender over time for the use of borrowed money

Multiple Choice

Which statement best describes a credit card?

• Money that is borrowed and does not have to be paid back

• Money that is given to people.

• Money that is borrowed and us usually paid back with interest.

• Money that people earn at their jobs.

​What are "expenses"?

​An "expenses" is

the cost required for something; the money spent on something.

​What is a "plan"?

Ask and discuss with your partner.

What would be an example of a "planned" expense?

Kerri saved her money for 2 months to buy a new laptop. When Kerri went to the store to buy her computer, she paid in cash and did not have to use credit.

This was a planned expense.

​Examples of Planned Expenses:

--Groceries

--Rent/Mortgage

--Bills (Water/Electric/WiFi)

--Gas for vehicles

--Lunches

--Planned shopping trips like back to school

Multiple Choice

Franklin saves $30 each month for three months to purchase a soccer net. Which of the following describes the soccer net purchase?

• Interest

• Withdrawal

• Planned Spending

Multiple Choice

Which of the following best describes planned spending?

• Paying for goods or services that are expected

• Paying for goods or services that are expensive

• Paying for goods or services that are inexpensive

• Paying for goods or services that are unexpected

Multiple Choice

Alan wants to purchase a new bicycle. He created a savings plan to collect enough money to pay for the bicycle.

Which of the following is a benefit of Alan planning his spending?

• He will not be able to purchase the bicycle.

• He can save money without getting a job.

• He will be able to spend all his money each pay period.

• He will be able to save enough money to buy the bicycle.

​What is "unplanned"?

Ask and discuss with your partner.

What would be an example of a "unplanned" expense?

Marcus was driving one day when he got a flat tire. The tire could not be repaired and it had to be replaced. Is this an example of unplanned or planned spending?

​Examples of unPlanned Expenses:

--Broken home appliances

--car repairs

--disasters that cause damages

--impromptu shopping trips

Multiple Choice

Edgar’s car unexpectedly broke down on his way to work. Edgar had to purchase

new car battery. Which of the following describes the car battery purchase?

• Planned Spending

• Credit

• Unplanned Spending

• Income

Multiple Choice

Which of the following best describes unplanned spending?

• Paying for goods or services that are expensive

• Paying for goods or services that are inexpensive

• Paying for goods or services that are expected

• Paying for goods or services that are unexpected

Multiple Choice

Mr. Sparks wrote down spending decisions on cards.

Which of the spending decisions that Mr. Sparks listed are unplanned spending?

• Car Payment, Rent and Groceries

• Medical Emergencies and Water Bill

• Medical Emergencies and Unexpected Home Repairs

• Rent and Unexpected Home Repairs

Time to Work!

Show me

What you know!

Multiple Choice

The Franco family is planning an out-of-state trip to visit relatives. They have decided to begin looking at airfares and hotels 6 months before the trip.

 

Which statement does NOT describe a benefit for the Franco family by planning 6 months early?

• They will know how much money to save over the next 6 months to cover the costs of the airfare and hotel

• They will have to make a reservation with the first airline and hotel they call.

• They will have time to comparison shop for the best prices on both hotels and airlines.

• Not Here.

Multiple Choice

Celia’s current headphones work well, but she really likes the headphones that are on sale at a local electronics store. Even though the headphones are expensive, Celia decides to purchase the headphones today.

 

 

Based on the information, which statement describes a cost Celia must consider before buying the headphones?

• The price of the headphones is reduced for the sale and will never be available at that price again.

• If she buys the headphones on sale today, she will be able to save enough money to take care of all future spending needs.

• If she buys the headphones today, she may not have enough money left for other necessary spending

• The price of the headphones will go up each week.

Multiple Choice

Andy is starting a new job tomorrow that requires him to wear a white shirt. He found a white shirt at the store. He does not have enough cash to pay for the shirt and is not sure how much money is in his checking account.

 

Which statement describes the most reasonable choice Andy could make in order to buy the shirt today?

• He could use his credit card since he does not have the money needed with him at the time of purchase.

• He could write a check for the shirt and hope that he has enough money in his checking account.

• He could phone a friend and ask to borrow the money needed to buy the shirt.

• He could tell the sales person that he doesn’t have the cash to pay for the shirt and ask if he can take the shirt home today if he promises to come back next week with the cash.

Multiple Choice

Which of the following is NOT an example of wages?

• Jake works at a pharmacy and gets paid $15 each hour.

• Brenda's yearly salary as a veterinarian is $72,000

• Fernando spent $250 when he went shopping at the mall.

• Nathan weekly's pay as a pet groomer is $450.

Multiple Choice

Ms. Davis works for a company as an engineer. Which factor would most likely affect the amount of money Ms. Davis gets paid by the company?

• the number of siblings Ms. Davis has

• the amount of money Ms. Davis has in her checking account

• the experience Ms. Davis has an an engineer

• the amount of money Ms. Davis pays in bills each month