Minds On
Plan first
Student Success
Think-Pair-Share
Imagine someone is planning a party. Work with a partner, if possible, and discuss your ideas about planning this party. Be creative!
- Would they plan it at the last minute? Explain your choice.
- What steps would they take? Why would they choose these steps?
- What professionals should they contact to help (for example, to make a cake)?
Record your thoughts in an audio recording, on paper, or on a computer. Be ready to share your ideas.
Connections
Connections
Planning for spending money is similar to planning a party.
Action
Investing in property
Student Success
Think-Pair-Share
What do you think a ‘mortgage’ is? Develop a definition of your own.
Click on the ‘Answer’ button to check if you're right.
A mortgage is a special loan used to buy a property for people who don’t have the money to completely pay for it at once. A mortgage is a loan that you pay back over a long period of time.
Task: Buying a house
Complete the following activity:
A couple is thinking about buying a small second home as an investment property. Their idea is to rent this home to other people in order to make extra money. The plan is to earn enough money to pay for the mortgage on this house, as well as all the bills associated with the house.
Create a plan for them.
- What research do they need to do?
- Whom do you think they could ask for advice?
- What questions should they ask?
- What personal factors do they need to consider as well?
Share your ideas with a partner, in an audio recording, on paper or in a chart like the one below or similar that may help you record your information.
Complete the Plan to Buy A House Chart in your notebook or using the following fillable and printable document.
| What research do they need to do? |
|
| Whom do you think they could ask for advice? |
|
| What questions should they ask? |
|
| What personal factors do they need to consider? |
|
| Any other questions? |
|
Consolidation
Researching and planning
Research an organization or person in your community that could help someone with financial advice.
- What is their role?
- What do they do to help people manage their money and expenses?
- What questions can you ask when working with them?
- What factors need to be considered before making decisions and deciding whom to work with?
Create a plan of what you would ask them and what your needs are. You can create your plan in an audio recording, on paper, or on the computer.
With a partner, discuss each other’s findings. Give feedback on each other’s work.
Complete the Research and Planning Financial Goals Chart in your notebook or using the following fillable and printable document.
| Your needs: | Questions: |
|---|---|
Press the Activity button to access Researching and Planning Financial Goals Chart.
Activity (Open PDF in a new tab)Reflection
As you read the following descriptions, select the one that best describes your current understanding of the learning in this activity. Press the corresponding button once you have made your choice.
I feel...
Now, expand on your ideas by recording your thoughts using a voice recorder, speech-to-text, or writing tool.
When you review your notes on this learning activity later, reflect on whether you would select a different description based on your further review of the material in this learning activity.
Press ‘Discover More’ to extend your skills.
Discover MoreBuying a house costs money.
If you would like, you can complete the next activity using TVO Mathify. You can also use your notebook or the following fillable and printable document.
Explore to develop an understanding of cost and interest rates and how they might influence your planning choices.
Press the ‘TVO Mathify’ button to access this resource and the ‘Activity’ button for your note-taking document.
TVO Mathify (Opens in new window) Activity(Open PDF in a new window)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)