Minds On
Our goals
What is a goal?
Why is it important to have goals?
Student Success
Think-Pair-Share
Think about one goal that you have for this year. Complete the Short- and Long-Term Goals Chart in your notebook, using speech-to-text, or using the following fillable and printable document.
| Short-term goals | Long-term goals |
|---|---|
Press the ‘Activity’ button to access the Short- and Long-Term Goals Chart.
If possible, share your goals with a partner and group them into the chart or by using a method of your choice.
Note to teachers: See your teacher guide for collaboration tools, ideas and suggestions.
Action
Task 1: Earning goal
It is important to set goals when thinking about money. One type of money goal you can set is an earning goal.
What does it mean to earn money? Why do we need to earn money?
While you are making money, there are also things that you need to spend money on.
How does spending money impact earning? Think about these questions, and record your ideas.
Complete the Earning Goal Organizer in your notebook, using the following fillable and printable document, or in a format of your choice.
| How does spending money impact earning? |
|---|
Press the ‘Activity’ button to access the Earning Goal Organizer.
Task 2: Breaking even
Personal income is the compensation (usually in the form of money) that you receive from employment or self-employment. Expenses are the amount of money you spend to pay for bills, groceries, and the like.
Once you have met your financial obligations and paid all of your bills, the money you have left is your “discretionary” amount. You can choose how to spend this remaining amount. A good financial habit is to save a part of the money you have left after expenses. Use the pie chart below to help you understand how to save and budget.
Description
A circle pie chart with sections representing Leslie's monthly budget. 30 percent is rent money, 15 percent is food, 10 percent is for the car, 7 percent is for insurance, 8 percent for clothing, 9 percent for entertainment, 10 percent for other items, and 11 percent for savings.
Task 3: Earning money
If you would like, you can complete this activity using TVO Mathify. You can also use your notebook or the following fillable and printable document.
Let’s work through some examples of earning money together.
Imagine you have a goal of earning $120 each month. A neighbour has asked you to walk their dog for two hours each week, for which you earn $80. Each time you walk, you purchase a juice drink from the corner store for $2.50.
- What is your hourly wage? What hourly wage would help you reach your goal?
- What are your actual earnings after your juice drink expense is deducted?
- Without increasing your hourly wage, how else might you meet your earnings goal?
- You make $15 for babysitting per night. If you babysit five times every month for 12 months, how much money will you have earned in a year?
- If you spend $240 every year, how much will you have earned by the end of the year?
- How much should you spend in the year if you have an earning goal of $800?
These examples show that even when you are earning money, there are some things that can get in the way of your earning goals. One of these things is spending money.
Can you think of anything else that could get in the way of your earning goals for a personal budget?
Press the ‘TVO Mathify' button to access this interactive whiteboard and the ‘Activity’ button for your note-taking document. You will need a TVO Mathify login to access this resource.
TVO Mathify (Opens in new window) Activity (Open PDF in a new window)Task 4: Earning and spending
Student Success
Think-Pair-Share
Now that we have worked through some word problems together, with a partner, or independently, create your own word problem.
Create a word problem that includes:
- an amount of money earned
- an amount of money spent
- an earning goal or goals
Once you are finished, give your problem to someone else to solve.
Note to teachers: See your teacher guide for collaboration tools, ideas and suggestions.
Task 5: Reaching earning goals
Explore the video, and then answer the questions below. Record your answers.
Question: In the video, what was the characters’ earning goal for the tickets? How did they reach their earning goal? Did they actually earn $100? Explain why or why not.
Consolidation
Earning now and in the future
Think about and record your answers to the following questions:
- How can you earn money?
- Brainstorm ways that you can earn money now and in the future, and record your answers.
- Set one short-term earning goal. Identify one possible barrier to reaching that goal and how to overcome it.
- Set one long-term earning goal. Identify one possible barrier to reaching that goal and how to overcome it.
Complete the Earning Now and in the Future Chart in your notebook, using speech-to-text, or using the following fillable and printable document.
| Earning now | Earning in the future |
|---|---|
Press the ‘Activity’ button to access the Earning Now and in the Future Chart.
Reflection
As you read through these descriptions, which sentence best describes how you are feeling about your understanding of this learning activity? Press the button that is beside this sentence.
I feel...
Now, record your ideas using a voice recorder, speech-to-text, or writing tool.
Connect with a TVO Mathify tutor
Think of TVO Mathify as your own personalized math coach, here to support your learning at home. Press ‘TVO Mathify’ to connect with an Ontario Certified Teacher math tutor of your choice. You will need a TVO Mathify login to access this resource.
TVO Mathify (Opens in new window)