The Game of Life— My Personal Economic Plan Semester Project

This project is worth about 15% of your entire 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 in May! Your project must be in a binder and typed when you turn it in! You must write in complete sentences! Late projects will receive half credit!

6 Parts to the Project! Part 1: Finding a Job—is college worth it? Due January 25th Part 2: Creating a Budget—where am I going to live and what am I going to eat? Due in February Part 3: Create a Savings Plan—getting what I want! Due late in March Part 4: Credit Cards & More—understanding the fine print! Due in March Part 5: Stock Market Part 6: Paying Taxes—Uncle Sam wants his cut. Completed in class in April

Reminder: There are 6 parts! You will need to start a new page for each part Title it with the number and title You will need to label each step

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

Part 1: Finding a Job—is college worth it? Step 2: Finding a Job ( 45 points) Fill in the chart Type a 1 page response about your findings from your research.

Part 1: Finding a Job—is college worth it? Step 3: Finding a college or trade school (45 points) Visit the College and Career Center at CDO or go online (or visit the school) and find 3 schools that interest you. Fill in a chart Type a 1 page response about your findings from your research.

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

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: Type up a 1-2 page response essay to your findings from your research.

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

Part 3: Create a Savings Plan—getting what I want! 100 points total—DUE Step 2: Interviewing 5 adults (75 points): Survey 5 adults about their savings plans—Include your results in your final report (25 points). Type up a 1-2 page response to your findings from your interviews. (50 points).

Part 4: Credit Cards & More—understanding the fine print! 200 points Step 1: Answer questions about credit and credit cards

Part 4: Credit Cards & More—understanding the fine print! 200 points Step 2: Finding a credit card (70 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! 200 points   Step 3: Credit Scavenger Hunt (100 points): Find the answers/definitions to the questions/terms

Part 5: Playing the Stock Market—is it gambling or investing? Step 1: Decide on a company to invest in (40 points) Answer these questions: Why did you chose this company? How much profit do you hope to make?

Part 5: Playing the Stock Market—is it gambling or investing? Step 2: (100 points): Play the stock market Fill in your 2 performance reports Write up your investment report

Part 5: Playing the Stock Market—is it gambling or investing? Step 3 (50 points): Type up a 1-2 page response to your findings from your stock market simulation.

Part 6: Paying Taxes—Uncle Sam wants his cut! Step 1: Fill out tax forms (100 points) You will get the form later… We will do this in class

Entire Project Due Each part is due on the date listed. If you do not have that part on the due date—you will only be eligible for ½ credit on that portion (for the final grade)!!! You MUST bring your completed part on the due date! NOT A ROUGH DRAFT!!!!!! The entire project is due in May!