1. Welcome to Life The Real vs. the Fantasy: Learn how to budget with what you are given

2. Assignment You will be creating a PowerPoint presentation this week based off of research you complete for your future life: the REAL and the FANTASY. Real means your PowerPoint exemplifies all things realistically possible. A realistic job, a realistic spouse (not someone famous who makes millions of $$). Fantasy means you can have whatever you’d like. EACH SLIDE (#1-7) must be split in HALF and have REAL on the left, and FANTASY on the right.

3. EXAMPLE REAL VERSION OF YOUR LIFE FANTASY VERSION OF YOUR LIFE

4. Slide #1 Your first and last name Your profession Your monthly income – go to collegeincolorado.org  click “Career Planning” at the top  click “Explore Careers”  in the search box type your career to find your income. You can figure out the rest from there. – IF you cannot find your income here, you may search elsewhere A creative paragraph about where you work and how long you have worked there Include a picture

5. Slide #2 You just got married! Tell me what your spouse does Tell me their monthly income – Find their income the same way you found yours…through collegeincolorado.org Write a paragraph describing where they work and how long they have worked there. Include a picture of your ‘spouse’ If you choose NOT to get married, write on this slide a sentence why.

6. Slide #3 Housing Find a house at zillow.com that you can afford. Include your monthly payment (rent or mortgage). Must include interest over 30 years (you have a 30 year loan). See next slide for math help. Include a picture of the house/apartment Include the number of bedrooms, bathrooms, and square footage. Include an address and a picture of the place. Tell me three reasons why you picked this rental.

7. Owning vs. Renting When you find a location that offers you the ability to rent, you’ll be able to see right there how much your monthly bill would be. If you are interested in owning your own home…there’s some math to figure out, including adding in interest rate. Buying a house…the MATH Total cost to purchase house X0.05 (this is interest) Your interest payment X30 years $$ you pay in interest over the 30 years +original cost of house Total cost over 30 years Total cost over 30 years/360 = total monthly cost EXAMPLE: $350,000 the cost to buy my fantasy house X 0.05 $17,500 total interest I’ll pay each year X 30 $525,000 total interest I’ll pay over 30 years +350,000 $875,000 total cost over 30 years of my house $875,000/360 = $2,450 monthly payment

8. Slide #4 Vehicle Find a vehicle you would like to purchase through cars.com (or another similar site). What is the price? Divide it by the number of months you want to pay it off in. (No more than 60 months.) Include $150 for insurance and gas per month. Include a picture and description of you car.

9. Slide #5 CHILDREN If you have decided to have children, list them here. Please only select to have between 0 and 3 children. Show pictures, ages, and brief descriptions of each child. If you select 0 – explain why you’d prefer to not have children.

10. Slide #6 Food List your five favorite foods. Do research on how much each food costs to make. Tell me how many times a month you plan on eating out. List the average cost of eating out for your family per night based on your top two locations. Be sure to include a 20% tip. Include two pictures of your food or restaurant.

11. Slide #7 FOOD COSTS MONEY Based on the next slide, calculate your MONTHLY payment for food (pay extra attention to the header). Make sure to include children if you have children. Include the monthly breakdown on this slide. – Monthly breakdown should include the cost of food from the chart + your eating out expenses from slide #6.

13. Slide #8 UH OOOOOOOOOOOOH Something bad has happened to you. Please see Mrs. Meredith for your disaster. You are not allowed to complete this slide until all previous slides are checked by Mrs. Meredith.

14. Slide #9 Final Monthly Financial Report Insert a graph that looks like this. EarnedSpent My income 4,000Rent 4000 Spouse’s income 2,500Food 900 Car 800 Insurance and Gas 150 Bad thing 600 TOTAL 7,000TOTAL 6,750

15. Slide #10 END RESULT How much money did you end up with in BOTH scenarios (real vs. fantasy)? How are you going to spend the remaining money? How are you going to earn money if you spent more than you make?

16. Slide #11 REFLECTION How did this assignment help you to understand the financial responsibilities of life? Write a reflection as to how you can make sure your life turns out a little more predictable/manageable than it did in this activity.