Student Workbook (PDF file, 3.46 MB) - Oklahoma Department of ...

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4. Michael and Patrick are roommates. They are good friends, but are very different. Michael has a fi nancial plan and is usually pretty good about sticking to it. He has about $5,000 in savings. Patrick fi nds it impossible to save money and is often behind on his bills. When Patrick needed a car, he found that he did not qualify for a loan on his own, so he asked Michael to co-sign for him. A year later, the lender contacted Michael and told him that Patrick had missed several car payments. The lender demanded that Michael pay $1200 immediately to get the loan up to date, and then start making the payments of $300 per month, since as a co-signer, he is legally responsible for the entire loan. When Michael confronted his friend about the car, Patrick confessed that he had also not paid their utility bills for the last two months, even though Michael had given him his share of the money, so they owe $300 in overdue bills. What could Michael have done to prevent this? What can he do now? UNIT 1 MANAGING MONEY 35
36 LIFE SKILLS: FINANCIAL LITERACY SKILLS — STUDENT EDITION
Page 1 and 2: IMC Life Skills: Financial Literacy
Page 3 and 4: Copyright 2009 Oklahoma Department
Page 6 and 7: Unit 1 MANAGING MONEY To manage mon
Page 8 and 9: OBJECTIVE 1 Identify trends in care
Page 10 and 11: Many factors will contribute to the
Page 12 and 13: Compare the dollar value of the job
Page 14 and 15: Put away your credit cards for a we
Page 16 and 17: Taxes — Different types of taxes
Page 18 and 19: OBJECTIVE 7 List the basic steps in
Page 20 and 21: OBJECTIVE 8 Summarize three methods
Page 22 and 23: OBJECTIVE 9 State guidelines for us
Page 24 and 25: OBJECTIVE 14 List items deducted by
Page 26 and 27: OBJECTIVE 16 List benefits often re
Page 28 and 29: OBJECTIVE 18 Compare the costs and
Page 30 and 31: OBJECTIVE 20 Discuss the impact of
Page 32 and 33: ASSIGNMENT SHEET 1 Research careers
Page 34 and 35: ASSIGNMENT SHEET 2 Develop a budget
Page 36 and 37: ASSIGNMENT SHEET 3 Analyze budgetin
Page 38 and 39: ASSIGNMENT SHEET 4 Apply money mana
Page 42 and 43: ASSIGNMENT SHEET 5 Calculate and co
Page 44 and 45: ASSIGNMENT SHEET 6 Research a chari
Page 46 and 47: Student Supplement 1 Personal Spend
Page 48 and 49: Student Supplement 2 Factors That I
Page 50 and 51: Student Supplement 3 Consumer Needs
Page 52 and 53: 2. Of the seven items selected in Q

Student Workbook (PDF file, 3.46 MB) - Oklahoma Department of ...

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