Credit Card Minimum

One of my favorite projects so far in Financial Algebra has been on Credit Cards. I had found a Personal Finance Project Resource Book that was created through the Connecticut State Department of Education. The project is on "Paying the Minimum" and essentially how long it will take to pay off a credit card if you are only to pay the minimum amount. I stress with the Students that this is IF you do not charge anything else onto the card (which most people do not do). I felt it was pretty eye-opening to them. I modified a few things from the original project and expected this from the students. I will probably change a few things for the next time around (up the minimum payment) - I felt a little rushed putting it together with midterms right around the corner. I also was finding that it was really important to be able to provide an example.

Below are some pictures of a few of the projects that were turned in. I love that students are getting experience with Sheets and learning how to use it to their advantage. This is the second project they have had in which they used Sheets and had to link it to the project with a QR code!!

      

Life isn't work

Lately, my husband has been hassling me a bit because whenever I'm home (after we put our daughter to bed), I'm always working. With 2 new classes, prepping a course for the team, and department chair duties, there never seems to be enough time during my work day to get things done. So I use the last few hours of the day to try to power through things. I know I should prioritize my family time more (I've gotten better about not doing so much work on the weekends!), but it's so difficult feeling the crazy pressure and time frames of a 4x4.

Yesterday afternoon I got a call from a colleague - I had to silence it as I was finishing up planning with another teacher. At 10 o'clock in the evening, I got a text stating that a colleague, who retired just over a year ago, had a massive heart attack. They were in the hospital, but as of that evening hadn't regained consciousness. I'm hoping to find out more details today since they were going to go visit.

At this point, I'm just baffled. I'm totally bummed about this news. It really puts life into perspective and brings back to the forefront what's most important. For me, that's not my work. I love what I do and I love working with students and teaching them about life. But that can't come at the expense of my life and my family.  So, it's going to be a crazy next 9 weeks, but I've got to stop bringing so much work home (both physically and mentally) and start focusing more on my family, since they truly are what matter the most to me!

Loan Amortization

On the heels of starting the next Financial Algebra chapter on Automobile Ownership, I decided to do a little research into loan amortization schedules. This lesson serves two purposes:

1. Teaching the kids the math and formulas on how loan payments are split between principal and interest, and
2. Showing the students how to use Sheets/Excel to do the math for you

I feel both of these will be valuable skills that they should know. I find too often that students do not know all the advantages of Excel, so if I can show them just a few I'll call that a win!

So,  as I was starting to work the math behind the lesson, I began with the Monthly Payment Formula:

I had to check if this was the monthly payment the loan calculator gave; it was! Next, I started a Google Sheet to begin work for the amortization schedule. Interest was calculated by taking the balance and multiplying it by the "monthly" rate (the rate given is the annual percentage rate so you have to divide that by 12). Principal is found by subtracting the interest from the monthly payment and the balance by taking the previous balance and subtracting that payments principal. So easy to do once you tell Sheets what to do - first payment was done and then you drag the rest down and watch the magic happen!!

I also remembered from my business classes being able to set a formula in Excel to find the payment (not having to input the crazy thing above). So, I used that also to see if it worked - it does. Except that it gave the answer as a negative?? Not sure why, but I'll look into that when I have more time. 

I'm excited for the opportunity to share all this with my class next week. I hope they find this unit enjoyable!!

9 Days of Financial Algebra

We are completing the 9th day of school. I've enjoyed this course and the knowledge it can provide to students and am so excited for the school year. But, I've also been a little disappointed.

On the first day, we had students balance a checking account just to see where they were at. I was amazed at how many did not get the correct balance in the end (all the more reason they should be in this course!). Many didn't have the correct check numbers and didn't know how to handle a voided check - not too big of a deal - so I made sure to go over in more detail about that. I also had students complete a survey to just get an idea of how others manage their finances. Of the 72 surveyed, 19 still use a hand-written register and 22 stated they used some software or app. Students were only allowed to interview one person under the age of 25 and only one person per household. I saw 2 surveys that they clearly interviewed a person from each generation - balance by hand, use an app, don't at all. I would imagine as this current generation grows, more and more will just depend on the balance the bank tells them. That scares me!

As we wrap up our first unit, students had a project they had to complete. They could choose 1 of 4 topics, and it was either a presentation or a paper. We designed this awesome rubric on what we expected and how they would be graded. So many have been just basic information. Since we gave 2 days of class time (almost 3 hours) for researching and putting it together, I think I was expecting better. Only a few are MLA format. They were supposed to be a minimum of 2 pages (that's it!!) and several are just over a page. Is this what English experiences with essays? I'm going to have to monitor them a lot more with future projects that's for sure.

On a positive note, students are asking great questions, so I'm loving that. They are curious and want to learn more. I'm hoping that continues as we move into more topics.

Amazing Department!

I have an AMAZING department! We added 3 teachers to our department this year, and 3.5 last year. Our growth in the number of students and section numbers has been great.

Going into my 11th year of teaching, I actually have the second most teaching experience in our department. My team is young! It's scary (because I'm not anymore) and exciting, and not common. But that youth brings so many ideas and willingness and hard workers. And I love them - they are my family!

With that background, I also remember what it was like being new to the profession/site: nervous and poor! The past two years I've given small gifts to each teacher in the department as a welcome back. It's included just a few commonly needed things - a pencil holder, pens, pencils, markers, post-its. This year, I decided to do something a little different as I know sometimes you just need a little extra to make it through the day. So I got a little bin and just filled it with various candies, and then a few pencils, sharpies, and post-it. I made a cute label to go on the top of each and then created a saying to go with each item. It's a small thing I can do to welcome them back, thank them, and wish them an awesome year! (and now that the year has started and I gave these out to my team, I can finally post this!)

Gift File