economic and financial choices in a global economy Cindy Manzano Director of Smarter Texas 1801 Allen Parkway Houston TX 77019 C 7135035338 F 7136551655 cindyeconomicstexasorg wwweconomicstexasorg ID: 445360
Download Presentation The PPT/PDF document "Helping young people learn to think, cho..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
Helping young people learn to think, choose, and make better
economic and financial choices in a global economy
Cindy Manzano
Director of Smarter Texas1801 Allen Parkway Houston, TX 77019C: 713.503.5338F: 713.655.1655cindy@economicstexas.org
www.economicstexas.orgwww.smartertexas.org
1Slide2
The TCEE programs are made possible by the following TCEE partners.
copyDR
.
EnviroChem
Services, Inc.
Trout Foundation
John Anderson
Less B. Fox
RBC Wealth ManagementSlide3
TCEE Grade 7 Lesson 4
Know Your Worth3Slide4
The student is expected to: Math 7.13C: create and organize a financial assets and liabilities record and construct a net worth statement
4Slide5
Engage What does it mean to be wealthy?
5Slide6
6Slide7
7Slide8
Net worth is the value of what you own minus what you owe.
$30,0008Slide9
Activity 7.4-1a Work in pairs.Use the
Activity 7.4-1a sheet and the blue and yellow cards to determine each families net worth.9Slide10
10Slide11
Check for Understanding
What would cause a person to have a negative net worth?What would cause a family to have a positive net worth?
Why is it important to have a positive net worth? Other than net worth, what other criteria might a financial institution consider before lending money? 11Slide12
Chalkboard Splash
What could Family B do to increase their net worth?12Slide13
Budget or Net Worth?
Budget is a tool used day to day to make sure your expenses don’t exceed your income. To determine if you are getting out of debt or if you are increasing your wealth, one needs to analyze their net worth.
13Slide14
Calculate Your Net Worth While Budgeting to Maintain Perspective by Eric Ravenscraft
“An increase in net worth meant that I was unquestionably spending less than what I earned, which is the key to personal finance success. An increase in net worth meant that all of the hard day-to-day choices I was making were actually adding up to something big.” “It was exhilarating. Each time I calculated that number, I could clearly see the impact that my choices were having even if they weren't really evident in my day-to-day life
.”14Slide15
15Slide16
ClosingMany people try to reach the American Dream by purchasing everything they want. What are the consequences for buying everything you
want?Assign the students to write a letter explaining how assets and liabilities are used to create a net worth statement. Include the reason why a family should know their net worth and steps a family could take to change their net worth value.
16