1. Life Happens

2. Objective
Studentswill apply and analyze the dynamics of personal economics, its functions and consequences.
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3. 8. Savings & Credit Cards
You have just completed one month all on your own.
How did you do on your budget?
Do you have any money left over or are you in debt?
Write:
Extra Amount (+) ______ OR Debt (-)______

4. Because you have proven yourself for one month, you will get a credit card.
You can use at any time or any reason. It’s up to you if you use it or not.
Liabilities?

5. Now, looking back over the last month, would you change any of your spending habits?
Would you buy more or less on any particular item?
This is your last chance to make any changes to your budget.

6. List and explain any changes to your budget.
If you do not intend to make any changes, explain why.
Also recalculate your new budget for the month and attach a REVISED one month budget to this paper.

7. After any and all revisions, what do you have left over?
Extra Amount (+) _____ OR Debt (-)_____
What do you plan to do with your extra money or how do you plan to pay off your debt?

8. 9. Six Month Budget
Using the revised budget, look at your surplus or deficit for the month.
Take that amount and multiply by six.
This is either your debt or surplus for half a year

9. 10.
Life Happens!

10. Life Happens!
Make any final changes to your budget based on your scenario.
You can use your credit card if you have to.
Answer the following questions:

11. 1. Name the crisis
2. Because of the unexpected crisis, what changes did you make in your budget? Describe in detail where you increased or decreased your expenses.
3. Explain your thinking on these changes. Why did you do these changes for these specific expenses?
4. How will you prepare for more “life happens” scenarios in the future?
5. If a crisis had not happened, would you be in debt or have a surplus in month 6? Explain.

12. 11.
Final Reflection

13. 1. Project Analysis Debt – You lived beyond your means
A. Describe, in detail, at least three reasons you went into debt.
B. What were you thinking when you made some of the spending decisions that got you into debt
C. What actions could you take to get our of debt?
D. If you could do this all over again, what would you do differently?
Surplus – You lived within your means
A. Describe, in detail, at least three reasons how you achieved a surplus.
B. What were you thinking when you made some of the spending decisions that ensured that you lived within your means.
C. What will you do with your surplus?
D. If you could do this all over again, what would you do differently?

14. 2. Project Analysis
Pick 2 assignments that are the most like real life. What did you learn from them?
Answer with details and show a depth of reflection. For each question, put the question number and letter and then your response