Activity Task

 

                  Activity Task                                       (Personal Money Management) 

                                     

ACTIVITY 1                                                                                                                                                                  1. Are you familiar with those types of piggy banks?                                                                                      Yes, I familiar with those types of piggy banks

2. Do you use them to save your money?

Yes, i use them for saving my money

3. Why do you use them? Why don’t you use them?

I use it to save money to buy everything I need and want. I also use it to save my money for emergencies and prevent me from being wasteful

4. Which one do you think is more effective, saving your money in the piggy bank or in a bank? Why do you think so?

I think saving my money in the bank more effective than piggy bank because, we can easily take or send it wherever and whenever we need it without having to break the piggy bank but just by entering a password or when we saving my money in the bank and we need some money it can be more flexible . By saving our money in the bank, it might also be safer because we have to enter a code that only we know

ACTIVITY 2

Work individually. Watch the video about how to set a budget and stick to it (Bank of America). Then answer the questions based on the explanation in the video. Number one has been done for you. Scan the following QR Code or visit the link to watch the video: https://www.youtube.com/watch?v=pZDxU74V924

1. Mention three things you need to set a budget !

Discipline, planning, and prioritization

2. How many steps are there to plan your budget?

There are 6 step to plan budget

• Step 1 :   find out your income, by knowing how much money we get each month and what the money is used for, such as for taxes, insurance and other stuff. You can’t build your budget based on your salary it should be based on your net income 

• Step 2 : fixed expenses, don’t fluctuate or change dramatically throughout the year like rent or mortage payments good old car payment insurance and student loans this, this is also good time to make sure you hame some kind of safety net to help you pay for these expenses for emergencies, such as need new water heater. 

• Step 3 : Determine your flexible expenses, change based on usage like phone, and other utilities as your grocery bill that could chage you could also added up all those flexible expenses like clothes, restaurants meals and entertainment coasts these are the costs that you have control over. 

• Step 4 : prioritized, determine what’s really important and when it comes to creating a budget that works you have to take a really hard look at what you feel it’s truly necessary as much as you’d like to think you can’t live without latest gadget this type of expense should ho into the like to have category. Start digging into your variable expenses and rank what’s most important to you do 

• Step 5 : Follow your expenses and review them every month. Keep an eye on your wallet and especially your credit cards to make sure your spending is within limits throughout the month so it's easy to manage

• Step 6 : keep track, find away that works for you to keep track of of your expenses. Online banking easy to find and  use so be sure to look then you just balance your budget keep your income information current and track your actual expenses monthly after a few months you’ll start to see patterns then you can figure out where you can streamline make adjustments 

3. What is the first step?

The first step is to find out your income, by knowing how much money we get each month and what the money is used for, such as for taxes, insurance and other stuff. You can’t build your budget based on your salary it should be based on your net income

4. What is the last step?

The last step is keep track of your expenses and make sure to look balance your budget keep your income information current and track your actual expenses.                                               

ACTIVITY 3  

Work in pairs. Do Think-Pair-Share. Watch the

video about how to deposit checks through Automatic Teller Machine (ATM). Then complete the following sentences about the steps of doing so. Number one has been done for you. Scan the following QR Code or visit the link to watch the video: https://www.youtube.com/watch?v=QJFYhjx65ak

1. First, insert your debit card into the machine, and the machine gonna ask us in what language we would like to have this transaction conducted remember to protect your pin number when entering into the ATM machine 

2. Second,  the machine gonna ask us what type of transaction we would like to conduct in this case we are making a deposit it’ll ask us if we’re gonna make a deposit using a check or cash if we’re gonna utilize a check they’ll give us information on when the funds available and if we would like to continue with this transaction in this case we’re gonna indicate and what type of account we want to deposit whether it’s a checking or a savings account. 

3. Third, We’re gonna select checking account and if we would like to receive a receipt for the transaction. When we indicate yes now it’s gonna ask us to prepare our checks by strating and out to make it easy to insert and to ensure that the check is endorsed if we already press continue 

4. Fourth, make sure that the amount on screen is accurate to the amount you deposited if it’s accurate go ahead and press continue 

5. That’s how easy it is to make deposit make sure to take your receipt as well as your debit card