What to do May 30th

I have to be over at New Tech High this morning because I’m giving two awards at the annual awards ceremony.

You should just keep working on your Business Plan and on the PowerPoint presentation of the Business Plan. Don’t forget to write notes or a script to guide your presentation. Also, find good graphics to make your presentation look good.

See you Monday and be good to the sub.

Assignment to do for the substitute teacher

You’ve been reading Chapter 38. Finish reading it and answer the vocabulary, Fact and Idea Review, and Thinking Critically sections, as you usually do.

Also, work on finishing and adding your Personal Financial Statement and Start-up Costs to your business plan.

Be good to the substitute teacher. I want a good report. Thanks.

Finish your Start-up Costs Worksheet, then read Chapter 38

Please follow your substitute teacher’s advice. I want a good report that you behaved well and got your work done.

Personal Finance Statement for your Business Plan

On p. 660 of your textbook, you’ll find a good sample personal financial statement. Follow it carefully in making your own.

Remember: This is a story you get to write because your work lives haven’t really gotten started. So make up a financial statement based on doing research on the Internet to find out what kind of salaries you could be making as a young adult.

Look up what a house might cost you (if you could even afford one in California!), and look up what an affordable car would cost you if you bought it through a loan. Please don’t choose a car you can’t justify based on your salary.

Your Stocks, Bonds, and Securities might be hard to figure out, but it’s a good bet to assume you put $100 a month into these investments, and you can assume you’ve made 8% per year profit.

Work carefully to make a very realistic financial statement. Of course, when you write a real business plan, you’d have to be very truthful because if a potential investor found out you were lying, you could be guilty of fraud. That could ruin you future pretty fast.

Important: Below your financial plan, list all the details such as what kind of job, what kind of investments, what kind of car, what kind of life insurance, etc. That way I can know what you’re basing your statement on. Since most of you couldn’t afford to buy a house, please check out how much you’d need to pay to rent a house or apartment and change that title to “House rent” or “Apt. rent” instead of real estate loan. If you want to buy a house, must show me what you paid for it, the type of loan, and what your down payment was.

Enjoy creating your personal financial statement.