3.0 Managing your finances

Chapter 1: Consequences of Poor Financial Management
You will need:
Key Terms:
  • repossession
  • debtor
  • creditor
  • garnished
  • bankrupt
  • default notice

Tasks:
  1. Add and define the key terms into your glossary
  2. In your google drive there is a worksheet titled 'consequences of poor financial management' You will be filling out notes for this as we go through the presentation
  3. You will need to go to peardeck.com/join and await the teacher code

Poor financial management task

You are to create a scenario that shows the aspects of poor financial management. You can either create a script, roleplay or a goanimate/toondoo video for the final submission and to be marked. 

You must work through the following steps to help create your scenario:
  1. Ensure the worksheet on Poor financial consequences is complete. (Must be checked by Mr A)
  2. Create a new google document in your commerce folder that is shared with all members of your group AND Mr. A
  3. Draft your scenario (characters, situation, solution).
    1. Your scenario should have enough information about the characters, what problems they face and how they are impacted. 
    2. Make sure that you have a Financial, Legal and Social aspect of poor financial management within your scenario. 
    3. Research ONE institution that offers assistance to struggling people and explain how they may assist. 
    4. Conclude your draft with at least TWO solutions. 
  4. Once this has been checked with Mr Andrews, then you may work on the final product.
  5. THIS IS DUE ON THURSDAY - The top 3 submissions based on quality and creativity will be awarded a bonus $5 for their budgets. 
Chapter 2: Insurance
You will need:
Key Terms:
  • insurance
  • premiums
  • protection
  • risk

Tasks:
  1. Read 'Insurance' on pages 52-53 of the textbook 
  2. Add the key terms to your glossary
  3. As a summary, create a table in your workbook that lists the different types of Insurance policies and give a brief summary. 
  4. Watch the video (If Insurance companies were honest). List the disadvantages shown about taking out insurance. Do you agree with this video? Why/Why not?
  5. Complete questions 1-6 in your workbook (Q6 to be individually)

HOMEWORK
  • Have a go at the following worksheet and complete the activities as best you can without assistance. Once complete upload this to your Commerce google drive folder. 
Insurance Table Worksheet
File Size: 67 kb
File Type: docx
Download File
Chapter 3: Investing
You will need:
Key Terms:
  • risk
  • return
  • stock 
  • shareholder

Tasks:
  1. As a class we will discuss and debate the "Attitude towards investment' powerpoint. 
  2. Choose TWO of the scenarios from the powerpoint and write a 3 Sentence summary on why you agree/disagree. This is to be done in your books. 
  3. Click the link 'commerce dot com' above and read through the information
  4. Copy Figure 2.2b 'Risk and Return Ladder into books. A simplified version is fine.
  5. Watch the following video as a class http://www.investopedia.com/video/play/risk-and-time-horizon/ and explain what is meant by risk, time horizon and return. 
  6. Choose THREE Investment options from that diagram and complete the following:
         -  Go to https://www.moneysmart.gov.au/investing 
         -  Explain how each form of investment works
         -  One advantage and disadvantage of each type of                            investment.

HOMEWORK - DUE TUESDAY
  • Using the Sydney Morning Herald or any other resource you know of, Find an article about investing. 
  • For your article include a summary of what the article is about and what advice about investing can you take from it. (100 words)