The Game of Life— My Personal Economic Plan 2nd Quarter Project

This project is an assessment grade for 2nd quarter! You will be creating a personal economic plan by exploring various career paths, housing markets, colleges, investments, and more! The project is due November 17th Your project must include all 3 information sheets and a final “presentation” of overview of information PowerPoint, Prezi, Glogster, Poster, etc.

4 Parts to the Project! Part 1: Finding a Job—is college worth it? Part 2: Creating a Budget—where am I going to live and what am I going to eat? Part 3: Create a Savings Plan—getting what I want! Part 4: Credit Cards & More—understanding the fine print!

Part 1: Finding a Job—is college worth it? Step 1: Take a careers quiz Choose 3 potential careers Look where those opportunities are primarily located.

Part 1: Finding a Job—is college worth it? Step 2: Finding a Job Fill in the chart 3 jobs – high school, college degree, dream job For this activity – don’t look for the “max” or “min” salary. Think of yourself as about 28 years old with anywhere from 6-10 years of experience Answer reflection questions

Part 1: Finding a Job—is college worth it? Step 3: Finding a college or trade school (45 points) Go online and find 3 schools that interest you. Fill in the chart Answer reflection questions

Part 2: Creating a Budget—where am I going to live and what am I going to eat? Fill in chart for all 3 jobs Make sure you are using $$ figures from our area and tax rates from Alabama

Annual Spending (Living Expenses) SAMPLE of the CHART EXAMPLE Job #1—no college or experience needed Job #2—Bachelor’s Degree needed Job #3—Dream Job Annual Income/ Gross Income (before taxes) $36,000 Less income taxes, Social Security, & Medicare -$8926.70 Net Annual income (take-home pay) $27,703.30 Annual Spending (Living Expenses) Housing (Apartment Rent, Mortgage, etc). You need to attach the actual apartment or housing listing to your report. $12,000 ($1000/ month) Utilities and Cable TV Find out how much cable is for a year? List the website or ad that you found your amount from. $600 www.source.com Cell Phone Find out how much for a cell phone a year? List the website or ad that you found your amount from. Don’t forget to attach the ad!

Part 2: Creating a Budget—where am I going to live and what am I going to eat? Step 2: Answer reflection questions

Part 3: Create a Savings Plan—getting what I want! 100 points total Step 1: Answer questions about a savings plan

Part 4: Credit Cards & More—understanding the fine print! 100 points Step 1: Answer questions about credit and credit cards

Part 4: Credit Cards & More—understanding the fine print! Step 2: Finding a credit card Go online and find 3 different credit cards. They must be from three different banks/providers Note the cards interest rates, late fees, annual fees, and fees for cash advances ANSWER THE QUESTIONS BELOW THE CHART

Annual Percentage Rate (APR) Credit Card Annual Percentage Rate (APR) Late Payment APR (What does the APR change to if you don’t pay on time?) Finance Charge Late Payment Fee Fees for Cash Advances 1.   2. 3.

Part 4: Credit Cards & More—understanding the fine print! 100 points   Step 3: Credit Scavenger Hunt : Find the answers/definitions to the questions/terms