Earning Money and Spending It Wisely, by Lauretta J. Fox

Guide Entry to 82.06.12:

This unit attempts to improve students’ understanding of basic arithmetic skills that they will use as they step into the roles of worker and consumer. In the unit, these skills are applied in the solution of worker and consumer related problems encountered by every family in their daily affairs, The unit begins by describing the relation between the structure of the American family and the structure of the American work force. It then proceeds to methods of (1) computing wages earned by workers; (2) shopping wisely in the supermarket; and (3) taking advantage of discounts when goods are on sale. Each section is followed by a set of sample problems. There are several basic objectives for this unit of study. Upon completion of the unit, the student will be able to:

—understand how the working conditions of American families have changed through the years.

—perform basic arithmetic operations with whole numbers, fractions, decimals, and percentages.

—compute regular and overtime wages on an hourly basis.

—determine the number of hours worked by reading a time card.

—understand the meaning of salary and commission.

—compute the amount of money to be deducted from a person’s wages for federal income tax and Social Security tax.

—compare unit prices.

—know the value of coupons in grocery shopping.

—compute discounts allowed on goods being purchased.

(Recommended for 7th and 8th grade Arithmetic, 9th grade Applied Mathematics, and 10th grade Consumer Mathematics.)

Key Words

Labor American Social History Consumer Applications Basic Mathematics