Essay About Family A And Family B

Know Your Worth
Know your worthThis visual shows what family A and family B own. Then read the family descriptions below.    Family A owns a 3-bedroom house valued at $100,000 and one car. The home is furnished with modest furniture. The only valuable jewelry they own are wedding bands valued just under $800. They have an emergency savings account, a college savings account and a retirement savings. They also have two credit cards.   Family B owns a 5-bedroom house valued at $400,000, a car, and a SUV. The house is furnished with luxurious furniture. They also own a valuable piece of art and expensive jewelry. The family has a retirement savings and 6 credit cards.    Have the students vote on which family they believe to be worth more (wealthier). Post the results on the board (Calculate use the net worth formula).ItemNet Worth WorksheetFamily AFamily BAssetsLiabilitiesAssetsLiabilitiesHouse100,00018,000400,000350,000Automobile22,000035,00044,00022,00015,000Furniture25,000450100,00043,000Jewelry and artwork775010,0000Savings15,0004,500000retirement47,000047,0000Credit card05905,2003,5552,0001207,500200Checking account50001,5000cash5003000Child care050000gym00075Total214,82519,009637,800448,650Net worth195,816189,150 I vote for family A because family A has more net worth than family B.