Introduction to Financial Living
Who Pays What
The exact amount of taxes taken out from a person’s paycheck is affected by how that person completes a tax form called a W-4 form. In addition to taxes, some people have other items automatically deducted from their paychecks, such as retirement funds and health care plans. Often these items are deducted before taxes are deducted, thus reducing the amount of income that is subject to taxes. For more information about these the W-4 form and these pre-tax deductions, see the following resources:
Proportional, Progressive, and Regressive Taxes
In order to complete Income and Deductions, use the following resources to calculate the amount deducted for federal income tax, Medicare tax, and Social Security tax:
Analyzing Sample Budgets
Financial Living: Create a Monthly Budget
Financial Living: Resolve Monthly Spending Dilemmas
Financial Living: Track Spending
Note that each character spending document has two worksheets: Month 1 spending and Month 2 spending.
Check Savings Growth Predictions with Excel
Extension 3.1:
Why do you think the rule of 72 works? Use the following resources to research the math behind the rule of 72. Then find a friend or family member and teach them what the rule of 72 is and why it works.
Interest Compounded More Than Once a Year
Resources for Character Wish-lists
Paying For College
Taking a Vacation
- http://www.cruises.com
- http://www.travelocity.com/Cruises
- http://www.cruisecheap.com
- http://www.caribbean.com
Buying a Digital Camera
Photography Courses
Buying a Computer
Financial Living: Compare Savings Options
Financial Living: Create a Savings Plan
The Cost of Credit
Advantages and Disadvantages of Using Credit Cards
The Language of Credit Card Offer
- Federal Trade Commission: Choosing and Using a Credit Card
- Bankrate: Financial Glossary
- Creditor Web: Credit Card Terms
Financial Living: Choosing a Credit Card
- Credit Cards.com, Credit Card Offers
- Creditor Web, Compare Credit Card Offers
- Bankrate, Credit Cards: Compare Rates
Buying a Vehicle: General Costs
Financing a Car: The Cost of Loans
Financial Living: Choose Vehicle Options
Financial Living: Choose Vehicle Options
Determine the blue book value of each car. This amount is an estimate of prices you can expect from a car dealer. You’ll find several different price estimates of your car on the Kelley Blue Book Web site. For new cars, make sure you find out the invoice price and the new car blue book value. For used cars, make sure you find out the trade-in value and the suggested retail value.
The Negotiating Process
Financial Living: Managing Debt
Risk and Rewards
Choosing a Stock to Track
Once you choose a company’s stock to track, use following resources to find out information about your chosen company:
Analyzing Your Stock: Short Term
Use the following resources to complete My Stock Data
There are no resources for this activity.
A project of EDC, Inc. Education Development Center, Inc. works closely with Ford Motor Company Fund