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What is a budget? What is the stock market?

What is a budget? What is the stock market?. Budget. Fixed Cost Variable Cost Budget. Fixed Cost - amounts that stay the same every month like a car payment or rent Variable Cost - amounts that change like food or entertainment or vacations

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What is a budget? What is the stock market?

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  1. What is a budget? • What is the stock market?

  2. Budget

  3. Fixed Cost • Variable Cost • Budget

  4. Fixed Cost - amounts that stay the same every month like a car payment or rent • Variable Cost - amounts that change like food or entertainment or vacations • Budget - is a plan for how people will spend their money

  5. Key Points • Fixed Costs are amounts that stay the same every month like a car payment or rent • Variable Costs are amounts that change like food or entertainment or vacations • A budget is a plan for how people will spend their money • Income is the amount of money a person makes

  6. Pay Check

  7. What is the total income? • What are the total expenditures? • Does this budget work?

  8. Salary.com • Find out how much you make a year and divide it by 12

  9. Which of the following is a fixed expenditure? • $300 for food and restaurants • B. $350 for travel, clothes and entertainment • $1,250 for a house payment • $2,000 for Real Estate • Which of the following is a variable expenditure? • $300 for food and restaurants C. $250 for watering lawns • $1,250 for a house payment D. $2,000 for Real Estate

  10. Vocabulary • Gross Income • Net Income • Taxes

  11. Vocabulary • Gross Income – Total money made • Net Income – Money left after taxes • Taxes – Money taken out by the government

  12. Taxes • Taxes pay for things like schools, roads, police and firefighters. • Gross income is the total money that is made • Net income is the money left after taxes (Think of a net catching what is left)

  13. We will use 25% for federal taxes and 4% for state taxes.

  14. Define net income • Define gross income • Find the federal and state taxes on someone who makes $1000 (STEPS 2 and 3)

  15. Salary.com • Find a job you want • Divide the total salary by 12 to get your monthly income. • Figure out your monthly gross and net pay for your job

  16. ______ 25. Which of the following is Joseph’s gross income? • $1,000 C. $200 • $100 D. $700 • ______ 26. Which of the following is Joseph’s net income? • $1,000 C. $200 • $100 D. $700

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