I am inviting you to join the Mrs.R_Personal Financial Math blog. We will be using it often throughout the year. I am excited about this class and really like the differences it has from the "normal" math classes.
The goal of PFM is to have a "game plan" when you enter the real world so that you can manage your finances and ultimately not have a huge amount of debt.
BLOG GUIDELINES:
I. Personal Information
- Although blogs cannot be found via a web search, they are a public place. They can be viewed by linking through the class website or if they are shared with someone else. Keep this in mind as you are always leaving your "digital footprint."
- Please do not share personal information like your last name, home address, email address, or details about where you will be at specific times.
- Do not share any personal information about your friends or others.
- To identify yourself when blogging, use your first name and last initial.
II. Content
- All blog posts must be in complete sentences using standard English grammar rules.
- Check your spelling. Do not use "text spellings."
- Make sure all posts are school appropriate.
- Make sure your posts are respectful. Do not be rude or offensive to others or their ideas. If you are unsure if your post crosses the line of decency, please ask.
- Mrs. Rothmeyer reserves the right to delete any posts that are inappropriate or not related to the assigned topic.
- If you see anything questionable, please take a screen shot and report it to Mrs. Rothmeyer immediately.
- Don't copy and paste other people's work or ideas. This includes your classmates' posts prior to your post. This is called plagiarism and it's illegal.
- If you choose to include a quote or a licensed image, make sure to credit the original source.
- It is always okay to use your own photos.
Grading Rubric for Blogs:
| Rating | Characteristics |
| 4 | Exceptional. The blog post is focused and coherently integrates examples with explanations or analysis. Connections are made between ideas, new insights are offered and fully developed. The entry reflects in-depth engagement with the topic. |
| 3 | Satisfactory. The blog post is reasonably focused, and explanations or analysis are mostly based on examples or other evidence. Fewer connections are made between ideas, and though new insights are offered, they are not fully developed. The post reflects moderate engagement with the topic. |
| 2 | Underdeveloped. The blog post is mostly description or summary, without consideration of alternative perspectives, and few connections are made between ideas. The post reflects passing engagement with the topic. |
| 1 | Limited. The blog post is unfocused and displays no evidence of student engagement with the topic. |
| 0 | No Credit. The blog post is missing. There is no evidence upon which to base an evaluation. |
Blog Assign #1:
For your first post, please respond to the following journal question:
1) Name 2 things you learned in Ch 1 about savings that you did not know before we started the chapter.
2) What is the most important piece of information for you personally from this chapter and why?
**This assignment is a minimum of 5 complete sentences.
**This blog is due Tuesday, September 11, 2018
**REMEMBER: SPELLING, PUNCTUATION AND GRAMMAR!!!
1. That there's likely no chance that I can find interest rates above 8%. But I also found out that I can invest in Money Market's and my money will explode in value over my life time.
ReplyDelete2. I think the fact that I have to search for places to invest my money that I can actually benefit from. Had this class not told me that I honestly would have just put my money in the bank and barely receive 3% interest.
1) Name 2 things you learned in Ch 1 about savings that you did not know before we started the chapter.
ReplyDeleteThe 80/20 rule, about how spending is 80% is behavior and 20% head knowledge. So if you look at how you act with your money, especially your spending habits then you can figure out ways to save money. The other is that you should save money for 3-6 months of expenses. I didn't realize you made a separate savings for that, honestly I never thought about that at all.
2) What is the most important piece of information for you personally from this chapter and why?
To have an emergency fund, because you shouldn't need to feel over stressed about trying to fix something that happens, you can be upset but also feel like it's okay because you have money set up for these occasions.
1) In Chapter 1, I learned that it is very beneficial to start saving with an emergency fund. It is important to have money put away for when emergencies happen so you are prepared. I also learned how big of a role discipline plays in saving. You must control your behavior precisely so money can be saved efficiently.
ReplyDelete2) For me, the most important information attained from this chapter is Baby Step 1. I have money saved away, but I would like start a separate account for my emergency fund. It is the first step in becoming financially successful, and I have to be proactive about it now before anything can happen.
1) I didn't realize that having an emergency fun you can live off of for 3-6 months is good thing to have. I also didn't realize exactly how much I spend on stuff I don't need until we did that exercise in class.
ReplyDelete2) The most important thing I took away from this chapter was that having an emergency fund is important, but also "murphy's law" and how if you have the money to cover emergencies, they seem to not happen.
1) I didn’t understand the importance of starting an emergency fund in case an unexpected event occurs. I also didn’t know that using a credit card before you can financially handle it was a bad idea.
ReplyDelete2) I think opening an emergency fund was the most important piece of information I collected from this chapter. I didn’t think it would be extremely beneficial to plan ahead for unexpected events. I figured you could get by with using what you had saved but I understand that it’s important to set an emergency fund separate from your actual savings.
In chapter one, I learned that your first priority should be to save instead of pay off things. I was shocked at this, because I always thought it was pay first and then save with what you have left over. I also learned that you should also have at least $1,000 dollars ($500 if you make less than $20,000) in an emergency fund. I always thought of a savings account kind of like an emergency fund. But now I know there difference between the two. I believe the most important piece I took from this chapter was about the money market and compounding interest. The exercise we had to do about calculating how much we spend on a certain item each month and how much we could make if we put that away instead blew my mind. It shows me to be more conscious about how much I spend and what I spend my money on.
ReplyDelete1. The first thing that I learned, that also surprised me was that saving money involves contentment and emotion. I understood the emotion part, but it surprised me that we also need to be content with what we are doing as well. The second interesting fact that I learned was how much compound interest affected the initial investment, the money that is in vested triples, and even quadruples in no time, it's crazy!
ReplyDelete2. The most important piece of information that i received out of this lesson was that saving money should be a priority, we shouldn't always want to spend our money the instant it's in our pockets or bank accounts. Without saving money, we would be in debt, and in serious trouble because of the way people spend their money nowadays.
1. I learned a lot about the importance of an emergency fund. I have always used my savings account as an emergency fund. I know now the importance of having two separate funds for these.
ReplyDelete2. The most important piece of information I learned is how our spending habits can truly add up over time. I do not stop at Kwik Star a lot, but I do go out to eat with my friends once or twice a week. This amount of money could really benefit me in the long run if I would just eat at home and save up for the future.
1. I learned the importance of having an emergency fund for unexpected life events. I also learned the importance of having two separate accounts for these so I cannot take money out for things other than emergencies.
ReplyDelete2. The most important piece of information I learned was to make saving money a priority and to get good interest on the money that I am saving. Instead of spending it on the things I want, I need to save it for the things that I need.
1. I didn't know that an emergency fund was even a big deal to have, but looking at it I see that its a priory. If your car's got mechanical issues or an issue occurs so emergency money is key. Also didn't know the U.S. had a negative saving rate
ReplyDelete2. I'd say how important it is to invest money while your young through something like compound interest. The mathematical explosion can really help out with your wealth.
1) I learned a lot in this chapter, but the two that stuck out the most to me were the important of having an emergency fund and eventually having that be enough to cover 3-6 months of expenses. I can personally attest that Murphy's Law is true. So far, I have not had the money necessary when something does go wrong. I know now to keep needed money in a separate place, that I don't have easy and every day access to.
ReplyDelete2) The most important piece I learned from this chapter was the importance to make saving a priority. I have worked for three years and have nothing to show for it and no money in the bank. Even at 17 I regret those decisions because my car broke and I have no money saved to get another vehicle. I now am working on saving so that I have money for cases such as these.
1. In chapter one I thought the 7 steps to financial success were pretty interesting. I didn't know that 15% of household income should go towards Roth IRAs and pre-tax retirement plans. It's crazy how far ahead we should be planning even though were still in high school. Before this class I had no idea what a sinking fund is but I found out that I actually use it all the time.
ReplyDelete2. The most important piece of information I've learned this chapter would be saving has to become a priority and always pay bills first. I feel like it's the most important because I will beheading to college soon and it would be easier to pay it off before interest makes my payments skyrocket.
1. I learned about the importance in having an emergency fund and how useful it can be used correctly. I also learned what the three basic reasons are for saving money; emergency fund, purchases, and wealth building.
ReplyDelete2. The most important piece of information I took from chapter 1, is putting the money away to a safe place like a bank and for the emergency fund you'd put it in the money market. I typically don't spend money daily, I like to save my money but I also don't put it into the bank like I should.
1) Before learning about chapter 1, I had no idea what an emergency fund was. As we keep learning it keeps showing up. It is a very important part to saving money and having money in the future. Saving money should be a high priority.
ReplyDelete2) Personally the most important information I learned is how much saving money can benefit you in the long run. This is kind of common sense but seeing the statistics made me realize saving is a big part to my financial life.
1. I didn't know about the 80/20 rule about behavior and head knowledge, but now that it's been explained to me I understand the significance of behavior. I also didn't know the importance of having $500-1000 in an emergency fund, but I've found that a lot of the times I've been victim to Murphy's Law it would have been a lot easier to solve if money had been saved for it.
ReplyDelete2. The most important information I learned is how daily spending can have such an impact long term. I've found that spending money going out to eat and getting food just about every single day has created a significant dent in my account. If I were to save by making food at home, I could save $150 a month
1. Before chapter 1, I did not know the importance of an emergency fund. Accidents and inconveniences occur all the time and having an emergency fund to pay those expenses is very important! I also did not know that someone should have 3 - 6 months of income saved up just in case something comes up where there is no income to support one's self or family.
ReplyDelete2. The most important piece that I took from this chapter is the disciple one has to have in order to set savings as a priority. You truly have to put saving ahead of some unnecessary expenses or limit these expenses. Also, starting early makes it easier in the long run, especially when it comes to investing.
While I was actually in class I learned how important an emergency fund is. It is very key because you never know what is gonna be thrown at you and you need to be prepared. Then also how you should save before you spend.
ReplyDeleteThe most important thing I took out of this chapter was the emergency fund. I think it is the most important because It makes sure your prepared for anything life throws at you and you are able to bounce back from it.
This class has taught me to save for a emergency fund. Emergency fund will help me if I run into any problems with a car or unexpected problems.
ReplyDeleteThe most importune thing I have learned is to invest into more then one place. To not have my money all tied up into one thing.
I learned that an emergency fund is very important. The emergency fund would be nice to have because if your car brakes down you would have money to get it fix right there and then. You should save up more then $1,000 because you need to save before you spend.
ReplyDeletethe most important thing that I took out of chapter was that it is important to make saving a priority because I have work for little over a year and made like nothing.
1. I learned that the emergency fund is very important. The emergency fund should be the first priority in attaining financial security. It is nice to have an emergency fund because it gives you something to fall back on if you need to and it gives you a sense of fiscal responsibility. I also did not know that it should last you 3-6 months.
ReplyDelete2. The most important thing I took from the chapter was its take on saving cash in the long term and living with less to get out of debt.
1) I learned a lot about the importance of investing and compound interest. I also enjoyed learning about Murphy's law and how important it is to have an emergency fund and to be prepared for anything that could happen.
ReplyDelete2) I think the most important piece of information is the emergency fund. I don't really have any amount of money saved up for an accident. Just recently I blew a tire in my car, and didn't have much money to buy the replacement tires. Also, I really appreciate the idea that it is never to early to begin saving.
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