

Smith's rent $300.00Using the Smith's monthly budget form and monthly income sheet calculate the following;
Car insurance $50.00
All utilities $75.00
Phone $30.00
Groceries $200.00
Gasoline $50.00
Clothing $20.00
Sundries $15.00
Laundromat $25.00
Movie Rental $5.00
Eating out $25.00
Sue and Dave try and save $50.00 per month.
They give $50.00 per month to their church.
1. Do the Smiths have any money left over At the end of the month? if S0 how much?2. What percentage of their total income do they spend an fixed expenses?
3.If the Smiths were to quit eating out, how much money would they save?
4. What is the ratio between money saved per month And total money spent?
5. If the Smiths want to save 10% of their income per month, how much would they have to have?
TITLE:
Planning a Budget/ Part 2 of 3, Completing a Monthly Budget Form.
OBJECTIVES:
Students will understand the benefits of keeping a budget and will understand required math.
MATERIALS LIST:
Worksheets, lesson notes, calculator if desired.
TARGET AUDIENCE:
All ABLE 5+ Math
INSTRUCTIONAL GROUP SIZE:
Small
ACTIVITY DESCRIPTION:
1. Determining differences between luxuries/ necessities.
2. Writing a monthly budget form.
3. Applicable Math percentages, ratios, fractions.
Dave works at a local factory. His gross pay is $800.00 per month His net pay is $623.00 per month. How will he pay for the following items? Mark G for gross pay and N for not pay.
Mortgage __
Social Security tax __
Union Dues __
Groceries __
State Income tax __
Car payment __
Pension __
Federal income tax __
Entertainment __
Clothes __
I Why have a Budget?
A. Vocab
B. Discussion
C. How to:prepare a budget
II Paycheck
A. Discussion / Vocab.
B. Pay check handouts
1. What is the total amount of taxes deducted?
2. What is the net pay?
3. The deductions are what percent of gross pay?
4. The net pay is what percent of gross pay?
5. What percent of Y.T.D gross pay are the following:
OBJECTIVES:
Students will understand the benefits of keeping a budget.
MATERIALS LIST:
Lesson notes, worksheets
TARGET AUDIENCE:
All ABLE
INSTRUCTIONAL GROUP SIZE:
small
ESTIMATED TIME:
1 Hour
ACTIVITY DESCRIPTION:
1. Discussion of goal setting.
2. Worksheets on individual goals.
IV. Budget Goal Setting
A. Vocab.
B. Discussion
C. Complete worksheets Goals
Cost  Monthly Savings  When can I buy?  
Present goals  
1.  
2.  
3.  
Near goals  
1.  
2.  
3.  
Future goals  
1.  
2.  
3. 
NEEDS ( I MUST HAVE)  WANTS ( I WOULD LIKE TO HAVE)  
Cigarettes  
Stereos  
Medical care  
Pop  
Movie tickets  
Food  
CDs  
Video rentals  
Clothing  
Telephone  
Preschool  
Transportation  
TV  
New clothes  
Baby sitter 
TITLE:
Shopping for Clothing and Housewares
OBJECTIVES:
Adding, subtracting, multiplying, dividing, and
interchanging fractions, decimals, and percents; Estimating and Rounding; Computing sales tax,; compute discounts; using shortcuts and mental math while shopping.
MATERIALS LIST:
Handouts and local discounts or department store advertisements.
TARGET AUDIENCE:
Multilevel GED or ABE
INSTRUCTIONAL GROUP SIZE:
Large, Small, Individual
ESTIMATED TIME:
1/2 to 1 hour per handout. Optional Sales tax chart with local sales tax.
ACTIVITY DESCRIPTION:
Some instruction and prior knowledge of fractions,
decimals, and percents needed. Discuss advertisements and how they encourage shoppers to come to their store. , Discuss value of reading carefully to see what limits and dates apply. Discuss comparison shopping. Discuss tax rate chart. Easiest handout is "Estimating When Shopping." Work in groups or individually. Use other handouts at following sessions as desired.
RESOURCES/SOURCES USED:
Essential Math for Life, Glencoe, books 2, 3, 8;
Connections, SteckVaughn; Lifeskills: Developing Consumer Confidence, Contemporary Ch. 3
Estimate When Shopping
1. Which 2 items cost less than $4.00?
2. Which 2 items cost about $5.00?
3. Which 2 items cost about $7.00?
4. If you have $10.00, can you buy the basket and 3 house plants?
5, To the nearest dollar, estimate how much the boxes, the frame, and the hanging basket will be.
6. What would be some reasons that estimating is a useful skill?
7. In what shopping situations do you feel estimating would be helpful?
Sales Tax
Sales tax is applied to some things we buy. States can decide the amount of sales tax and the items which will have the tax applied. This money is used by the state for such things as police and highway patrol, the repair and maintenance of roads and highways, and education. Local communities can add a small amount to the tax for local projects, Sales taxes are figured in percentages and added to the purchase price. The store is required to turn the money over to the state.
Step 1: Multiply the price by the rate of the tax. $5.85 (original price)
Step 2: Add the tax to the original price.
$. 2925 = .30 (State sales tax is always rounded Up.)
Find the sales tax and the total price including tax.
Original price  Sales Tax  Amount of Tax  Total Price  
Shoes, $55.00  6%  
Shirt, $20,00  6%  
Picture frame, $7.95  6%  
Blanket, $31.95  6%  
Frying pan, $15.49  6%  
Hose, $10.00  6%  
Rake, $8.99  6.5%  
Lamp, $25.00  6.5%  
Jacket, $59.99  6.5%  
Car, $14,550  6.5% 
What might be an advantage to shopping for a car in a different state or county? Figuring Sale Prices Shopping for items on sale is a great way to save money. When you are looking at the discount being offered, it is important to be able to figure how much will be saved and how much the item will cost with the discount.
Example: A coat regularly sells for $79.00 This week it is on sale for 15% off.
The following items are on sale for 25% off the regular price. Find the amount saved and the new sale price.
Swing set $115
1) Amount saved 2) New Price 
Saw $19.83
1) Amount saved 2) New Price 
Shovel $7.99
1) Amount saved 2) New Price 
Ceiling light$57.86
1) Amount saved 2) New Price 
Clothes Hamper $5.97
1) Amount saved 2) New Price 
Cassette/radio headphones $9.97
1) Amount saved 2) New Price 
Shortcut for Computing the Sale Price
Stores offering a discount will usually express the sale as "25% off or "1/4 off." This means that to learn what the new price is you might use 2 steps: Compute the discount and then subtract from the original price.
Here is a shortcut: If the discount is "25% off," then the price you will pay will be 75% of the original price. If the discount is "1/4 off," then the price you will pay Will be 3/4 of the original price. You simply multiply the original price by 75% or 3/4.
Shortcut: Subtract the percent discount from 100%; then multiply your answer by the original price. Or, subtract the fraction discount from 1; then multiply by the original price.
Example:
Use the shortcut to find the new price on the following items:
Four canisters $25.00
Discount is 20% Discount is 40% Discount is 75% 
Sunglasses $7.99
Discount is 33 1/3% Discount is 35% Discount is 15% 
Ceiling fan $32.99
Discount is 1/4 Discount is 1/5 Discount is 3/4 
Sauce pot $18.00
Discount is 1/3 Discount is 2/3 Discount is 1/8 



