Objectives
- Understand the terms: earn, expense, fixed, mortgage, utilities, and variable.
- Identify fixed and variable expenses.
- Explain how daily functions affect a family
Indiana Economics Standards
3.4.8 Illustrate how people compare benefits and costs when making choices and decisions as consumers and producers.
4.4.10 Explain how people save, and develop a savings plan in order to make a future purchase.
Indiana Math Standards
3.5.10 Find the value of any collection of coins and bills.
3.6.7 Make precise calculations and check the validity of the results in the context of the problem.
3.6.8 Decide whether a solution is reasonable in the context of the original situation.
4.2.1 Understand and use standard algorithms for addition and subtraction.
4.2.10 Use a standard algorithm to add and subtract decimals (to hundredths).
4.6.2 Interpret data graphs to answer questions about a situation.
4.7.9 Decide whether a solution is reasonable in the context of the original situation.
5.2.5 Add and subtract decimals and verify the reasonableness of the results.
5.5.7 Add and subtract with money in decimal notation.
5.7.7 Make precise calculations and check the validity of the results in the context of the problem.
5.7.8 Decide whether a solution is reasonable in the context of the original situation.
Indiana Reading Standards
3.2.3 Show understanding by identifying answers in the text.
3.2.6 Locate appropriate and significant information from the text, including problems and solutions.
3.2.7 Follow simple multiple-step written instructions
3.7.3 Answer questions completely and appropriately.
4.2.2 Use appropriate strategies when reading for different purposes.
5.2.4 Draw inferences, conclusions, or generalizations about text and support them with textual evidence and prior knowledge.
5.2.5 Distinguish among facts, supported inferences, evidence, and opinions in text.