CONSUMER WISE
by Michelle Profeit
CELs
1993
S105.9
INTRODUCTION
To meet a need for resources for the new MATH 10 curriculum, the Saskatchewan
Teachers' Federation, in cooperation with Saskatchewan Education, Training
and Employment, initiated the development of teacher-prepared unit plans.
A group of teachers who had piloted the course in 1992-93 were invited
to a two and a half day workshop in August, 1993 at the STF. The teachers
worked alone or in pairs to develop a plan for a section of the course.
Jim Beamer, University of Saskatchewan, and Lyle Markowski, Saskatchewan
Education, Training and Employment, acted as resource persons for the workshop.
TEACHER NOTE
Throughout the sample units, the following symbols are used to refer
to the Common Essential Learnings:
C Communication
CCT Critical and Creative Thinking
IL Independent Learning
N Numeracy
PSVS Personal and Social Values and Skills
TL Technological Literacy
Activities
Activity One
CONCEPT: Income
Foundational Objective:
To apply simple mathematics to assist in the calculation and estimation
of income and expenses and to develop a budget to guide current and future
planning.
Objective:
To determine advantages and disadvantages of jobs with regard to styles
of payment, e.g. salary, hourly wage, commission, piecework.
To calculate weekly gross wages of the above types of payments.
Resources:
Time:
2 periods
Instructional Methods/Activities
- Class discussion to generate a list of different types of payments.
Do examples of calculating gross weekly wages of each type. (CCT, N, C)
- Divide into groups. With the help of newspapers generate list of possible
jobs under each type of payment. (PSVS, CCT, C)
- Brainstorm advantages and disadvantages of each type. (CCT, PSVS)
- In groups complete a worksheet on calculating gross weekly earnings.
(Each student completes one but only one per group is handed in.) (N, C,
CT)
Evaluation:
- Observation checklist as students work in groups
- Hand in advantages and disadvantages sheet
- Mark assigned to group hand-in
- Group Evaluation - page 75 - Student Evaluation: A Teacher Handbook.
Saskatchewan Education, 1991.
Instructions Methods/Activities
- Under each heading generate a list of jobs that would be paid that
way.
- List advantages and disadvantages of each type of payment.
- At the bottom, state which you would prefer and why.
#3 is to be completed individually.
Advantages Disadvantages
________________________________________________________________________
A. Salary
B. Hourly Wage
C. Straight Commission
D. Salary plus Commission
E. Hourly Wage
plus Commission
F. Piece Work
Calculating Gross and Weekly Wages Worksheet
Name:________________________________________
Group Members:__________________________________
A. Salary
- Sally's job pays her $1500 a month. What is her gross weekly wage?
- Jim grosses $27000 a year. What is his gross weekly wage?
B. Hourly:
A regular work week is 40 hours. Overtime pay is time
and one-half.
- Sue drives truck for $8.75 an hour. If she worked 40 hours, what would
her gross earnings be for one week?
- Mark is a wordprocessor operator. He makes $11.50 an hour. Determine
his gross earnings for a week if he worked 52 hours.
C. Straight Commission
- A real estate agent earns 2.4% on the sale of a house priced at
$89 950. What is her take home pay that day?
- A salesperson receives step commission on sales calculated as follows:
- 8% on first $1000
- 12% next $2000
- 20% on sales above $3000
Calculate the salesperson's earning in one week if their sales were as
follows:
Monday $1500
Tuesday $3000
Wednesday $970
Thursday $4563.81
Friday $2760.42
D. Salary Plus Commission
- Dave earns $150 per week plus 38% commission. He sells $1043.92
in one week, what is his gross weekly earning.
- Mary earns $28 000 a year. One week she grossed $658.00. She had sold
$1673.19 worth of merchandise. What is the rate of her commission?
E. Hourly Wage Plus Commission
- Julie is a sales clerk at a bicycle shop. She is paid $6.25 per
hour for 30 hours work week plus a commission of 8% of sales. In one week,
her sales were $2319.75, what is her gross weekly earning?
- Sam is paid $6.45 per hour for a 37.5 hour week plus 6% of sales for
a week. What would Sam's sales have to be for him to earn $400 in a week?
F. Piece Work
- Jolene gets paid 17 cents a tree for tree planting up north. In
one week she planted 2437 trees. What is her wage?
- A seamstress is paid $9.55 for every pair of pants made. How many pants
would have to be made to receive $525 a week?
Activity Two
CONCEPT: Post Graduation Finances /Budgeting
Objectives:
To research a course the student is interested in pursuing after graduation.
Complete a budget form to determine approximate amount of expenses for
the duration of the schooling
Resources
- Guidance office - books on technical schools and universities
- Use of telephone
- Worksheet
- Canada Good Guide
- Flyers for groceries or go to store
- Newspapers
Time:
2 - 3 classes
Instructional Methods/Activities
- Have students individually research their job training preference
determining cost of tuition, books, and the number of years required to
complete the training. Also find out about wages, hours, location, promotion,
responsibility, job security, and unemployment of potential job. (IL, PSVS,
C)
- Have the students individually search newspapers to select suitable
practical living accommodations to be attached to expense form. (PSVS,
IL)
- Select student(s) to research and report to class the average cost of
cable, phone, bus, electricity, and water expenses for a month. (IL, C)
- Have students individually generate a weekly meal plan using Canadian
Food Guide as reference. Also include necessities, ie, salt, flour. (CCT,
PSVS, IL)
- Either take students to a store or use flyers to calculate an approximate
monthly expenditure on food. (Unit Pricing). (N, PSVS, IL)
- Realistically complete the rest of the monthly expenses on the given
form to obtain a monthly total. (CCT, PSVS, N, IL)
- Calculate total expenses for duration of their schooling. (N, IL)
Evaluation:
- Observation Checklist
- Hand in Completed Worksheet and Meal Plan at the end of unit.
NOTE: Student could invite a former student who is now taking such
training
to share their actual budget with the class.
WORKSHEET
Course: __________________________________________________________
Institute Number of years of Study
Tuition
_______________________________________________
Books
________________________________________________
Months of study for one year___________________________________
EXPENSES PERSONAL EXPENSES
Home costs Life insurance $__________
Rent $__________ Clothing __________
Mortgage payments __________ Medical & dental costs __________
Electricity __________ Petty cash __________
Heating _________ Personal services __________
Maintenance and repairs __________ (e.g. hair styling)
Telephone __________ Alcohol & tobacco __________
Cable TV __________ Gifts __________
Insurance __________
Taxes __________ LEISURE TIME
Furniture __________ Holidays $__________
Sports __________
TRANSPORTATION
Movies, theatre, etc. __________
Car payments $__________ Books, periodicals, recordings __________
Gas __________
Maintenance & repairs __________
Tires __________ OTHER
Insurance __________ School costs $ __________
Registration __________ Babysitting costs __________
Licence __________ Miscellaneous __________
Public transportation
SAVINGS
FOOD Emergency reserve __________
(per installment) $
Groceries $__________ Substantial savings __________
Restaurants __________ (investments)
Monthly Expenses X # of months for one year = __________ + __________
Yearly ExpensesX# of years of study = __________.
Activity Three
CONCEPT: Credit/savings/loan
Objective:
To get a guest lecturer in to explain student loans, cars, credit,
credit cards, and different forms of savings.
Resources:
- Guest Lectures (Bank) (PSVS, C, TL)
- Savings (Videotape), Credit Union
Time:
1 period
Activity Four
CONCEPT: Income
Objectives:
To complete a budget expense form based on the student's chosen profession.
Determine the net monthly/yearly incomes as well as net monthly and yearly
savings.
Resources:
- Worksheet
- Guidance Texts
- Telephone Usage
- Supply the percent deductions
Time:
1 - 2 days
Instructional Methods/Activities
- Have students search the gross yearly or monthly wage of their chosen
profession. (IL)
- Calculate the net income for one month. (N)
- Readjust budget sheet for a month. Must attach new additions (ie. new
apartment, vehicle if purchasing). (CCT, PSVS, N)
- Calculate monthly and yearly savings. (N)
Evaluation:
- Observation Checklist
- Worksheet to be handed in at end of the unit
WORKSHEET
Job Title: _________________________________
Gross Income for 1 month_________________________________
CPP______________________________________
Income Tax ________________________________
Holiday Pay ________________________________
Net Income for one month________________________________
EXPENSES PERSONAL EXPENSES
Home costs Life insurance $__________
Rent $__________ Clothing __________
Mortgage payments __________ Medical & dental costs __________
Electricity __________ Petty cash __________
Heating _________ Personal services __________
Maintenance and repairs __________ (e.g. hair styling)
Telephone __________ Alcohol & tobacco __________
Cable TV __________ Gifts __________
Insurance __________
Taxes __________ LEISURE TIME
Furniture __________ Holidays $__________
Sports __________
TRANSPORTATION
Movies, theatre, etc. __________
Car payments $__________ Books, periodicals, recordings __________
Gas __________
Maintenance & repairs __________
Tires __________ OTHER
Insurance __________ School costs $ __________
Registration __________ Babysitting costs __________
Licence __________ Miscellaneous __________
Public transportation
SAVINGS
FOOD Emergency reserve __________
(per installment) $
Groceries $__________ Substantial savings __________
Restaurants __________ (investments)
Monthly Net Total Income______ minus Monthly Total Expenses ______Equals
Net Savings_________
Yearly Net Income:____________ Yearly Savings____________
Activity Five
CONCEPT: Budgets
Objective:
To calculate percentage of take home pay of the various categories
on student's worksheet and compare with those of the average Canadian Family.
Resources:
- Job Worksheet
- Average Canadian percentages
- Paper
- Compass set
Time:
1 period
Instructional Methods/Activities
- Have the students calculate the monthly percentage of each main expense.
(N, IL)
- Compare percentages obtained with those of an average Canadian Family.
(CCT)
- Answer questions on adjustment of your personal budget. (CCT, PSVS)
- Plot the percentage on a pie graph and label. (N)
Evaluation:
- Observation Checklist
- Hand in two Budget Worksheets and Questions
- Self and Teacher Evaluation to be filled out on the project
The Budget Book from the Credit Union states the percentage of take
home pay that might be allocated for various categories for the average
Canadian Family are as follows:
Savings 5-10%
Food 18-30%
Clothing 8-15%
Transportation 10-15%
Housing 18-30%
Utilities 5-9%
Health and Miscellaneous 14-30%
Questions:
- What is a budget?
- What is a budget used for?
- Who should use a budget?
- Write down your percentages from previous assignment (job form).
- Compare the percentages above with your own. How close are you to the
standing percentages?
- Do you need to change your spending? Why/why not?
- How can you change your budget so you can pay for an additional expense,
ie, car or holiday?
- Which percentages might change as you grow older?
- Draw a pie graph of your percentages.
Evaluation
Self and Teacher - Each fill out
Consumerism
MARKS
1. Completed Package 1 2 3 4 5
(2 budgets, questions, pie graphs)
2. Correct Calculations 1 2 3 4 5
(budget sheets)
3. Neatness 1 2 3 4 5
(worksheets, pie graph)
4. Realistic Budgeting
Worksheet A 1 2 3 4 5
Worksheet B 1 2 3 4 5
5. Worked on task in Class 1 2 3 4 5
(1-10 depending on days)
6. Questions answered thoughtfully 1 2 3 4 5
Bibliography
Budget Book, Teachers' Credit Union
Savings Book, Teachers' Credit Union
Savings Video, Credit Union
Consumer Education Collection (Bibliography) - Stewart Resources
Centre, October, 1992
This unit comes from the The Stewart Resources Centre which provides
library resources and teacher-prepared materials for teachers in Saskatchewan.
To borrow materials or obtain a free catalogue listing unit and lesson
plans contact :
Stewart Resources Centre,
Sask. Teachers' Federation,
2317 Arlington Avenue,
Saskatoon, SK S7J 2H8;
phone 306-373-1660; fax 306-374-1122,
e-mail src@stf.sk.ca.
http://www.stf.sk.ca/
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