The Game of Life— My Personal Economic Plan Quarter Project

This project is worth 50% of your quarter grade! You will be creating a personal economic plan by exploring various career paths, housing markets, colleges, investments, and more! The entire project is due on the last day before exams! Your project must be bound and typed when you turn it in! You must write in complete sentences! I won’t be able to grade late projects at all!!

5 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 5: Paying Taxes—Uncle Sam wants his cut.

Reminder: There are 5 parts! You will need to start a new page for each part Title it with the number and title Each part is worth 100 points for a total of 500 points You will need to label each step

Part 1: Finding a Job—is college worth it? (100 points) Step 1: Read and answer questions 30 points

Part 1: Finding a Job—is college worth it? Step 2: Finding a Job ( 35 points) Fill in the chart Answer the questions about the jobs you found

Part 1: Finding a Job—is college worth it? Step 3: Finding a college or trade school (35 points) Find 3 schools that interest you. Fill in a chart Answer the questions about education requirements

Part 2: Creating a Budget—where am I going to live and what am I going to eat? Fill in a budget plan 50 points

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 the follow up questions about your budget 50 points

Part 3: Create a Savings Plan—getting what I want! 100 points total Step 1: Answer questions about a savings plan 25 points

Part 3: Create a Savings Plan—getting what I want! 100 points Step 2: Interview 1 adult (75 points): Can be in person or over phone. Don’t interview your parents, find someone with one of the jobs you chose Survey the adult about their savings plans—Include your results in your final report (25 points of the 75). Type up the responses to your questions

Part 4: Credit Cards & More—understanding the fine print! 100 points Step 1: Answer questions about credit and credit cards 15 points

Part 4: Credit Cards & More—understanding the fine print! 100 points Step 2: Finding a credit card (35 points): Go online and find 3 different credit cards. They must be from three different banks Note the cards interest rates, late fees, annual fees, and fees for cash advances

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 (50 points): Find the answers/definitions to the questions/terms

Part 5: Paying Taxes—Uncle Sam wants his cut! Step 1: Fill out a tax form (100 points) You will get the form later… We will do this in class