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LET’S PRACTICE
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10. Recall that household income refers to the combined earnings of everyone in a household over the age of 15. What is Eloise and Gunnar’s annual household income ? _ ______________________________________________________________________________ _ ______________________________________________________________________________ 11. To what economic class do Eloise and Gunnar belong? _ ______________________________________________________________________________ 12. If Eloise and Gunnar continue their disciplined approach to building wealth, will they be able to afford that year of travel? ______ 13. What was Franklin’s personal income before he lost his job? _______________ 14. To what socio-economic class did Franklin belong before losing his job? __________________ 15. What is Franklin’s household income when he moves back in with his mother? _ ______________________________________________________________________________ 16. To what socio-economic class does Franklin belong after losing his job? _ ______________________________________________________________________________ 17. What does FPL stand for? Are Franklin and his mother living at or below the FPL ? _ ______________________________________________________________________________ 18. Based on their household income, what government assistance programs might Franklin and his mother be qualified for? Describe them and tell how they are abbreviated. _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 19. What three financial literacy themes is this course built around? _ ______________________________________________________________________________ 20. Franklin thought that because he was highly paid, he was wealthy. Explain to Franklin the differences between income and wealth . _ ______________________________________________________________________________ _ ______________________________________________________________________________ PRODUCT PREVIEW
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Chapter 1 | Getting Personal: You and Your Money
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