🌲How can we Predict our Finances for the Future?🌲
🌲Hello and welcome back to the forest of learning! In this post, I will be sharing my reflections as well as guiding you the the course of our last Scimatics project ever: “Time is Money”. In this project, we sold a product or service and predicted our how our business would impact us financially over time. This project was an independent project that taught me a lot of important skills that I can use in the future. If you want to learn more about it, just keep reading!🌲
As always, we followed the project path throughout the course of the project;
In my First Film blog post, I explained why I was away for around two I weeks, so, you should go check it out. This project started while I was away- so I actually completed these first few portions at the airport/on the plane.
The first stage of the project was our project choice! As I said, we could sell a product or service. I decided to sell a product – and, what you might ask? Jars. But not just ANY jars, fonky, wonderful, and most importantly snazzy jars. I got this idea from making one of these jars for my sister’s friend in Israel. I figured it was fairly cheap, easy, and fun to make, so I stuck with it. This was my pitch:
Before we continue with the more hands-on stuff, let’s talk about the knowledge we had to build. In this project, we actually worked on both math and science! In math, we learned about linear equations and graphing, and in science we learned about environmental impact and cycles. We completed workbooks for both concepts and read textbooks that focussed on environmental impact.
For the math portion, I think I did pretty well. I had already learned this concept with my tutor earlier this year, so it was more of a refresher than something completely new. Although, the Khan Academy quiz was very difficult! I found that the questions were worded very weirdly, so I needed to go through some quizzes twice to get to know the questions. Other than that though, I think I did really well at understanding the math concepts and it will definitely help me a lot in the future. Here, I feel I showcased an accomplished level of understanding the skill “Understanding and Solving” because I was able to understand, solve, and create mathematical equations confidently.
For the science portion of this project, there isn’t really much other than the one textbook and workbook we completed. I find that it was really interesting to learn about some environmental concepts I was not familiar with, but other than that, I was aware of most of the concepts we reviewed, so I didn’t find it very interesting.
Now with building knowledge out of the way, time to get into the process of making the final product of this project: the video! I will talk more about that later, but the next stages I will be talking about are all the building blocks of the final product!
The first stage of the video making process was making a spreadsheet. In this spreadsheet, we compiled all of our data for making our initial data chart of information to be put in graphs later. This chart included the time spent making the product, startup costs, expenses, materials, price, and profit. I made my spreadsheet fairly detailed- which was a good choice on my part, since it helped me in my video and graphing later!
Next, time to start with our graphs! To do this, we made our own formula using the layout below. Here, I feel I represented an accomplished example of the competency “Communicating and Representing” because I was able to successfully represent mathematical idea in a concrete form.
Then, we actually made the formula:
You may be wondering what exactly we would be using this formula for: well, the creation of this formula allows us to plug in numbers to determine our income. “X” is the amount of time, and “Y” is the total income. I can figure out how much money I will be making hourly through using this formula, which is extremely helpful! Especially since I can just use Desmos to graph it for me, and create this wonderful array of data:
[metagallery id=2634]
Now, after collecting and creating data, it is now finally time to compile some footage and images for my video. This is a small step in the process, but also a vital one. First, my wonderful sister took photos of my product which was very helpful:
And, next, a highlight of the project for me was selling my product to my friend, Fraser. Nolan filmed this interaction CCTV style, and Fraser edited this wonderful video to be included in this blog post, so, thank you my friends!
Finally, with some footage compiled, my data recorded, and my knowledge built, it was now time to create my video. Honestly, I did not put that much effort into this video. But, I still think I expressed my knowledge well, and I am proud of how in depth I went into researching for this. One of the highlights of this part was finding out that Librarians starting salary is $58,000 in BC, which is great! Now I have a back up plan after I retire. Anyways- overall, I like my video! It was a good way to summarize my learning. In this video, I was also able to show a sophisticated representation of the skill “Connecting and Reflecting” through connecting concepts to other concepts and interests.
🌲This project was a great way to end the year. I enjoy planning ahead, and I learned to predict the finances and environmental impact of my small business! I had a lot of fun throughout this project, and I have to say, Scimatics has been a blast. I wish I had spent more time on making my video even more awesome, but I am still happy with the outcome nonetheless. So, how can we predict our finances for the future? Well, we can create a formula, compile data, and create a graph to reveal our future finances! I had a lot of fun and learned a lot, and I hope you enjoyed watching me grow in the forest of🌲
🌲learning🌲
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