The Game of Life Freshman Seminar 2013 Objective: How your level of Education dictates your potential for earning money!

What do you want to be when you grow up? List two things you are good at that may shape your career List two interests you have that may shape your career What do you need/want out of your career? Money? To help others? Lots of vacation time? To be active? 1

Let’s go to Work Use the following lists to select a career. Even if your career isn’t listed find something similar. Remember the color of the list your job was under. Write your first career choice on your worksheet. Blue Auto mechanic Cosmetologist Electrician Heavy truck driver Machinist Plumber Medical Assistant Welder Dental Hygienist Office Manager Paralegal Registered Nurse Yellow Accountant Architect Computer Programmer Flight Attendant Graphic Designer Insurance Agent Landscape Architect Marketing Manager Meteorologist News reporter Physician’s Assistant Social Worker Teacher Orange Guidance Counselor Engineer Librarian Pharmacist Physical Therapist Speech Pathologist Purple Anesthesiologist College Professor Dentist General Medical Practitioner Lawyer Optometrist Pediatrician Psychiatrist Veterinarian Green Bank teller Chef Construction worker Firefighter Mail carrier Military Secretary Singer Travel Agent Veterinarian Assist. Child Care worker Pink Bus Driver Cashier Fast food cook Forklift operator Highway Maintenance worker Janitor/maid Painter Retail salesperson Taxi driver Waiter/waitress 2

Calculate your GPA Based on your current grades, record your GPA on your worksheet. 3

GPA to ACT Conversion Chart GPA ACT score

Colorado College Index Use your combined GPA and ACT score to find your Colorado College Index Score.Colorado College Index 5 Admission extremely likely Excellent candidate for admission Candidate for admission Individual assessment necessary for admission eligibility Presenters: Click on “Colorado College Index” above to see the admissions chart used by most Colorado Colleges. Scores in Purple may have trouble getting into a Colorado College.

Education How much education does your career choice require? – Pink: No high school diploma (Any GPA) – Green: High School diploma (1.0+ or GED) – Blue: Associates/Vocational degree (2.5 or up) – Yellow : Bachelor’s degree (3.0 or up) – Orange : Master’s degree (3.5 and up) – Purple: Professional/Medical Degree (3.8 and up) How are your grades? Could you get the education necessary for your chosen career? 6

Let’s go to Work Based on your current GPA, choose a final career from that list or any list before it. Do you need to change from your first choice? Blue Auto mechanic Cosmetologist Electrician Heavy truck driver Machinist Plumber Medical Assistant Welder Dental Hygienist Office Manager Paralegal Registered Nurse Yellow Accountant Architect Computer Programmer Flight Attendant Graphic Designer Insurance Agent Landscape Architect Marketing Manager Meteorologist News reporter Physician Assistant Social Worker Orange Guidance Counselor Teacher Engineer Librarian Pharmacist Physical Therapist Speech Pathologist Purple Anesthesiologist College Professor Dentist General Medical Practitioner Lawyer Optometrist Pediatrician Psychiatrist Veterinarian Green Bank teller Chef Construction worker Firefighter Mail carrier Military Secretary Singer Travel Agent Veterinarian Assistant Child Care worker Pink Bus Driver Cashier Fast food cook Forklift operator Highway Maintenance worker Janitor/maid Painter Retail salesperson Taxi driver Waiter/waitress 7

Your salary Find your average monthly salary based on the career you chose. Pink $1595 Green $1945 Blue $2475 Yellow $3755 Orange $4045 Purple $8135 Write your monthly salary on your worksheet. 8

The Family Factor Are you going to get married? If yes… –Calculate your partner’s salary and add it to your salary –Women make 77 cents for every dollar a man earns If your partner is a man, divide your salary by.77 If your partner is a woman, multiply by.77 Do you want children? How many? –Calculate your childcare costs (if both parents are working). If only one parent works, there’s no daycare costs, but no salary either. 1 child - $700 2 or 3 children - $ to 6 children - $2000 Write these values on your worksheet. 9

How much did that job cost you? Here is the average time and cost for in-state and out-of-state tuition. Pink (no diploma) – free Green (High School Diploma) – free Blue (2 years Vocational/Associates) – $5000 for tuition alone Yellow (4 years Bachelor’s) – –Instate: $25,000 for tuition alone, $54,000 with room and board –Out-of-State: $66,500 for tuition alone, $96,000 with room and board –Private School: $100,572 for tuition alone, $140,000 with room and board Orange (6 years Master’s) – add $11,000 to your bachelor’s degree Purple (8-12 years Prof/Med) – add $20,000 to your bachelor’s degree Will you get scholarships or take out loans for these costs? 10

Student Loans Pink: None Green: None Blue: $54 Yellow: $184 Orange: $220 Purple: $750 Write your monthly loan payment on your worksheet. Don’t forget your partner’s student loans also! 11

Home Life Where will you live? (make sure there’s room for everyone in your family) –Rent a 1 bedroom apartment: $700 –Rent a 2 bedroom apartment: $1200 –Own a 2 bedroom house: $1400 –Own a 3 bedroom house: $1700 –Own a 4 bedroom house: $2050 –Own a huge, deluxe house: $2775 Write this monthly cost on your worksheet. 12

Food and Clothing Calculate your food costs: –Single male: $170 –Single female: $150 –Couple: $320 –Family: $320 plus $50 per child Calculate your clothing costs: –For a career in the pink or green box: $50 per adult and $20 per child –For a career in the remaining boxes: $100 per adult and $50 per child Write these monthly costs on your worksheet. 13

Your ride What kind of car will you drive? Does your partner have a car? (make sure there’s room for everyone in your family) –Ford Focus: $250 –Honda Civic: $375 –Chevy Silverado: $380 –Dodge Caravan: $440 –Nissan Murano: $560 –Lexus: $940 –Chevy Corvette: $1100 Don’t forget to add $85 per vehicle for insurance Write these monthly payments on your worksheet. 14

Your Health Calculate your health insurance costs: –$165 per person in your family –If you smoke: add $150 per month Write these monthly costs on your worksheet. 15

The extras Phone –Home phone: $35 –Cell phone: $40 per person -iphone with unlimited everything $100 per person Water and Electric –1 bedroom apartment: $80 –2 bedroom apartment: $100 –2 bedroom house: $130 –3 bedroom house: $150 –4 bedroom house: $180 –Deluxe house: $240 Internet and Cable –Antenna: $0 –Basic Cable: $20 –Deluxe TV w/DVR: $75 –Dial-up Internet: $20 –High Speed Internet: $40 Taxes –Pink $200 –Green $250 –Blue $440 –Yellow $650 –Orange $720 –Purple $1745 Record all of your extra costs on your worksheet. 16

Your Monthly Income  How does your monthly income look after you’ve subtracted all of you costs?  Do you have any leftover or did you overspend?  If you overspent, where would you get some of that money back? What category would you cut back on?  Are you happy with your financial situation as a 28 year old?  Are your finances a result of chance or choices?  How much did your grades and education affect your outcome? Is that true in real life?  What can you do in real life to avoid any problems you may have encountered? 17

What did we miss? Think of all of the things we didn’t consider: –Going out to eat –Seeing movies or concerts –Buying friends and family gifts –Setting money aside for emergencies and retirement –Donating to charity –Taking vacations Do you have enough leftover to do any of these things? 18