The Lifestyles of a Rich Student

Introduction

I would like to introduce our own famous Brookesmith student Joe Cool. This lesson is designed how Joe Cool spends his days earning money and spending it. He starts out the month receiving his paycheck from Wal-Mart in the amount of $1000 for the month.

Task

1. Deposit slip to Texas Bank and Bank Statements

2. Write checks for expenses

· Rent--$200

· Truck payment-$150

· Food-$200

· Clothes-$50

· Girls-$50

· Utilities-$100

· Phone-$35

· Insurance-$75

· Misc.-$190

Procedure

Bob and Carol will be budgeting together and interchanging responsibilities to check each other. They will learn to open a checking account with a beginning balance of $1000 each. They budget their money for a month. The students will receive a paycheck and make out a deposit slip. The students will have several expenses to pay and learn how to document on their check register. Bob and Carol will also have to prepare their bills for mailing. They will also learn how to read their bank statements including all check and bank fees.

Evaluation

Each student will evaluate each other. The teacher will give them a presentation grade, a materials grade, and a final result balance grade. A rubric for grading will be provided in the sheet or looking on a web site provided in the credits and reference section.

Conclusion

The students will learn how to open a checking account, make out a deposit slip, write a check, and balance their checkbook. What are some problems that arise during the month that will affect your balance? How can you budget the remaining balance in your account? What will be a good money making option for your balance?

Credit and References

Book Money Sense—Life Skills by Remedia Publications

Online www.rempub.com/stores