PERSONAL FINANCE GAMEThis project counts as a TEST grade.

LISTEN and follow directions!

Excel Sheets: 1- MONTHLY BUDGET SHEET2- CHECKING ACCOUNT

3- SAVINGS / INVESTMENTS & CREDIT CARD

Power Point: Pictures of purchases, Cards drawn, Decisions you made and reasons for those decisions

MONTHLY BUDGET

INCOME AMOUNT

1-INCOME 2-INCOMETOTAL

List your incomes and add

them together.

Step 1 – Draw for occupations. You decide which person does each occupation. Put the name of the person next to their occupation on the line for Income 1 and Income 2. Total the 2 incomes(the online version will do this for you)

MONTHLY BUDGET

AMOUNT EXPENSES AMOUNT

HOUSE

UTILITIES

CAR 1

CAR 2

CAR INSURANCE

CABLE/ INTERNETCELL PHONETOTAL 0

STEP 2 – Decisions!House, Car, Cable/Internet, Cell phone

List the monthly payment amount.The total is your set monthly

expenses.

As you make decisions list the monthly payment of

each expense

ADD to get your total set expenses

Decision choices

Houses• Look online on real estate sites for a house. Make sure to

include a picture in your ppt. Follow these guidelines:• $100,000 - $1100 month includes insurance

• Utilities $375 / month water, gas, electric, etc.

• $150,000 - $1600 month includes insurance • Utilities $575 / month water, gas, electric, etc

• $175,000 - $1850 month includes insurance• Utilities $700 / month water, gas, electric, etc

• $200,000 - $2150 month includes insurance• Utilities $825/ month water, gas, electric, etc

• $250,000 - $2600 month includes insurance• Utilities $1000 / month water, gas, electric, etc

You may rent. Add $100/month per person or couple for renters insurance. Explain why you decided to rent. You will also need to pay utilities.

Which car will you purchase? Insurance?

1-Decide what type of transportation you need.How many cars? What model? How old?2-Shop for your vehicles. Put your payment amount on

your budget sheet. Figure your payment below.http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx

*Make sure to include your choices in your power point.

CAR INSURANCE - chooseFull coverage - $150 per month for 2 (or $85 for 1 car)Liability – only covers damage to other car if it’s your fault $40 / month per car

Cable/

Internet

DI RECT TV cable and home internet

Choice $39.99 month + fees and taxes of $10 month 150 + channels Choice XTRA $44.99 month + fees and taxes of $15 month 210 + channels Choice Ultimate $69.99 month + fees and taxes of $20 month 225 + channels SPECIAL add 3 movie channels for $20 + $5 fees and taxes a month (note – you are adding this to what you already pay for your package) INTERNET ONLY $20 month +5 fees and taxes Don’t forget to add your fees/taxes to the monthly total in your budget and when you pay

J MOBILE

Cell phone options $50 month – 1 cell includes 800 minutes & text $75 month – 1 cell includes unlimited minutes & text $125 family plan – unlimited minutes and text INTERNET - $20/ month per phone (unlimited) This can be added to any plan

CELL PHONE

MONTHLY BUDGET

INCOME AMOUNT SET EXPENSES AMOUNT1-INCOME HOUSE2-INCOME UTILITIESTOTAL CAR

CABLE/INTERNETCELL PHONETOTAL SET EXPENSES

TOTAL INCOMESET EXPENSESIncome to Budget

ADD to get your total set expenses

Total Income minus set expenses

The Income to Budget is the amount of money to budget AFTER the set expenses.

BUDGET – plan for spending

after set expenses paid

MONTHLY BUDGET

INCOME AMOUNT SET EXPENSES AMOUNT

1-INCOME HOUSE

2-INCOME UTILITIES

TOTAL CAR

CABLE/INTERNET

TOTAL INCOME CELL PHONE

SET EXPENSES TOTAL SET EXPENSES

I ncome to Budget

OTHER EXPENSES

GROCERIES

ENTERTAINMENT

PETS

Religious

Charity

Hair

Gas

Shopping

Furniture

Vacations

Medical

CC

Toiletries

TOTAL Expenses

Income to Budget is how much you have to

save/invest and to spend each month for “life”.Make sure you think about your every day

expenses. You have to eat! You have to buy gas! Will you donate?Don’t forget to save!

ESTIMATE what you think you

will spend each month.

As life happens you will have to

adjust.

Budget monthly

savings and investments

MONTHLY BUDGET

INCOME AMOUNT SET EXPENSES AMOUNT

1-INCOME HOUSE

2-INCOME UTILITIES

TOTAL CAR

CABLE/INTERNET

TOTAL INCOME CELL PHONE

SET EXPENSES TOTAL SET EXPENSES

Income to Budget

SAVINGS

INVESTMENTS

TOTAL

Estimate what you would like to save or invest. We

will have an investment lesson where you can evaluate how you will

invest or save.

MONTHLY BUDGET

INCOME AMOUNT SET EXPENSES AMOUNT

1-INCOME 5000 HOUSE 2000

2-INCOME 4500 UTILITIES 400

TOTAL 9500 CAR 1000

CABLE/INTERNET 150

TOTAL INCOME 9500 CELL PHONE 250

SET EXPENSES 3800 TOTAL SET EXPENSES 3800

Income to Budget 5700

OTHER EXPENSES

SAVINGS 500 GROCERIES 500

ENTERTAINMENT 300

PETS 50

INVESTMENTS Religious 850

Mutual Funds 1000 Charity 100

IRA 400 Hair 100

Gas 500

TOTAL 1900 Shopping 500

Furniture 150

Vacations 100

Medical 100

CC 500

Your total savings/ investments Toiletries 50

$1,900and total expenses $3800equal your Income to Budget .

$5,700TOTAL Expenses 3800

List your incomes and

add them together.

BUDGET – plan for spending

after set expenses paid

As you make decisions list the

monthly payment of each expense

ADD to get your total set expenses

Total Income minus set expenses

Budget monthly

savings and investments

Congrats! You have finished the first part of the Personal Finance Project!

Project Requirements:1- Budget Sheet2 - Checking Sheet 3 - Savings/ Credit Card Sheet4 – Power point - This power point should show and explain your

decisions.*Have pictures of your house, car and other purchases. *Have at least one slide for EACH of the scenarios you draw. Type

out what the scenario was and explain how you handle it. *Have one slide for Savings / Investment decisions*Have one slide for Credit Card - How do you handle your debt?*Creativity counts!

Checking Account

Now it is time to pay your bills, shop, and deal with “life”. You start the month with a $500 balance. (top right hand

corner)1 – Deposit your 2 pay checks. You ADD when you deposit $$2 – Begin to pay your bills. Watch the board for which bills are

due each day. Don’t be late! You SUBTRACT when you pay a bill or buy something.

3- Shop and take care of your needs. (groceries, gas, etc)4 – Deal with the scenarios you draw. Make sure you put these

on your checking account.5- When you save, invest or pay on your credit card make sure

to SUBTRACT these amounts from checkingDon’t forget your power point!!

1. Deposit checks adding this amount to the $500 balance.

2. As you shop, pay bills or move money into savings or investments list that here and SUBTRACT that amount.

The online version of these documents have formulas and should do this automatically!

Look over it to make sure it’s accurate.

CHECKING ACCOUNT

BALANCE FROM PREVIOUS STATEMENT 500

DATE CHECK AMOUNT BALANCE6/1/12 Deposit Paycheck 6000 total inc+5006/1/12 Deposit Paycheck 4000 add6/1/12 House payment -1000 subtract

SAVINGS Names on account:

Transactions Date New Balance

INVESTMENT Type on Investment:

How much did you invest?

Yield on Investment:

CREDIT CARD Names on account

Card Number: Due Date

Previous Balance

Minimum amount due

Transactions Date Amount of transaction New Balance

*If you pay on your cc - subtract from this bill and from the checking account balance

**If you buy something with your credit card ADD that amount to your credit card balance

Did you invest?

Pay your cc billRemember rules of good

credit.

How much will you save each month? - Add it here - Subtract from checking

Tips for Success• Have a 3 excel sheets completed.• Make sure ALL transactions are recorded.• Power point – Is it creative? Neat? Clear?-Explain EACH major decision and have pictures of

major purchases. -Include a slide for each scenario-Include a slide to explain your savings & investment

decisions-Include a slide for Credit Card decisions.ASK QUESTIONS! WORK TOGETHER! ** For full credit do your share of the work