Homework for Wednesday, May 6

Assignments #13 and #14 in your F.P. Book
#13) Budget Categories, page 72  (5 points)
This was a partner assignment mostly completed in class, but finished on your own.  This is a brainstorm: there are no worldwide categories for your budget that are required by law.  However, there are certainly categories that make sense and those that do not.  Think about ways you might organize your budget as you prepare to spend your money.
A spending plan for money you earn is key to surviving month-to-month!
a) The inner circles are for the general categories that you come up with.  It is not necessarily all-inclusive, but should be fairly comprehensive.
b) The outer circles are for examples of things you would include in those categories.
*Clara - you can brainstorm these with anyone!  Don't use the yellow sheet with the categories I gave you though; think of what makes sense to you.
#14)  Caleb's Budget, page 73  (10 points)
Complete Caleb's budget for him.
*Part of this is reading through the backstory and filling in the blanks with the correct information.
*Part of this is figuring out which items (take-home income vs gross income, long-term goals vs short-term goals) are what and using them accordingly.
*Part of this is interpreting the information and making some decisions for Caleb.  While it's opinion in one sense, there are also wrong answers.  Caleb cannot spend more money than he has or choose not to pay his insurance, as examples.
*Part of this is doing the arithmetic correctly!  You can use a calculator, but you really don't need one.  (like the difference between wants and needs!)
*Clara, we drew unlucky chances today too, so yours will be waiting in the bucket for you when you get back.  It does not (neither of them) currently affect any of these things we are doing.