Agenda this week Let’s talk about personal financial literacy! Budgeting is important! Today: the bean game Tomorrow: creating a salary-based budget *extra credit: budgeting Wednesday: finish the above, plus needs vs. wants *extra credit: will your job be done by a machine? Thursday: can you make it as an uber driver? And other simulations Friday: student surveys, plus filing taxes! Shillinglaw for the rest of the year, starting Monday Monday: REVIEW Tuesday and Wednesday: FINAL !!!!

Budgeting 21 students turned in their homework 19 spent money, 2 didn’t Before we move on, predict: What did people spend the most money on? What do you think the average amount spent per student was? What do we think the average was?

Budgeting 21 students turned in their homework 19 spent money, 2 didn’t Of the 19 that did… Range: $10.00 - $360.00 Average weekly expenditures: $109.29 Most money spent on lunches and gas What do we think the average was?

The Bean game But, with paperclips

The bean game Managing money means making choices. There is never enough money available for all of the things we’d like to have or do (scarcity!). Let’s figure out what’s most important to you! Me! My husband’s in grad school and works three days a week at a coffee shop. I teach and get paid nothing, and have a second job to help cover costs.

The bean game You can either play individually, or with one to two partners Every group gets 20 paperclips How are you going to spend your income? You “pay” for items with paperclips

The bean game: Round one Each individual/group must select ONE item in each of the categories with the gold stars Food, housing, furnishings, transportation, insurance, and clothing/laundry Once you have done that, you may use your remaining paperclips until you have used up your 20 paperclip income

The bean game: Round one Each individual/group must select ONE item in each of the categories with the gold stars Food, housing, furnishings, transportation, insurance, and clothing/laundry Once you have done that, you may use your remaining paperclips until you have used up your 20 paperclip income

The bean game: Round Two Your income just dropped to 13 paperclips. What changes will you make? Make changes until you only have 13 paperclips left.

The bean game: Round Three You’re still living on a 13-paperclip income Your sister just broke her leg playing soccer. If you have insurance, you don’t need to do anything. If you don’t, remove three beans.

The bean game: Round Four You’re either living on a 13- or 10- paperclip income Hey! Your mom just got a two paperclip raise! Decide where it should be spent.