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© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton Day 1: Occupation Choosing Have students either select an occupation from the preselected options, or choose a level of education and be assigned an occupation from that category at random. Students need to record the financial information from their occupation sheet onto their track sheet. Student loan debt monthly bills are roughly 10% of a paycheck. This is lower than average. (This assumes the students have some scholarships/good grades in high school. This also helps balance the fact that the simulation ends before the typical 10 year payment period for a student loan.) Choosing Expenses Students can choose a housing option from the grid in the expenses packet. Students need to record their choice on their track sheet. Students then can choose the rest of their expenses in the same manner. Day 2: Make a Financial Plan Each student needs to come up a financial game plan, and a goal for the end of the game. They can record this on their track sheet. Pay Bills Students pay expenses and use their track sheet to see if they are on track for their financial goals. Day 3: Upgrades Students need to look up the cost of any upgrades they would like to add to their lifestyle. Students can also choose to upgrade to a family package Pay Bills Students pay expenses and use their track sheet to see if they are on track for their financial goals. Day 4: Check Progress on Financial Plan Pay Bills

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Page 1: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Day1:

OccupationChoosing

Havestudentseitherselectanoccupationfromthepreselectedoptions,orchoosealevelofeducationandbeassignedanoccupationfromthatcategoryatrandom.

Studentsneedtorecordthefinancialinformationfromtheiroccupationsheetontotheirtracksheet.

Studentloandebtmonthlybillsareroughly10%ofapaycheck.Thisislowerthanaverage.(Thisassumesthestudentshavesomescholarships/goodgradesinhighschool.Thisalsohelpsbalancethefactthatthesimulationendsbeforethetypical10yearpaymentperiodforastudentloan.)

ChoosingExpenses

Studentscanchooseahousingoptionfromthegridintheexpensespacket.Studentsneedtorecordtheirchoiceontheirtracksheet.Studentsthencanchoosetherestoftheirexpensesinthesamemanner.

Day2:

MakeaFinancialPlan

Eachstudentneedstocomeupafinancialgameplan,andagoalfortheendofthegame.Theycanrecordthisontheirtracksheet.

PayBills

Studentspayexpensesandusetheirtracksheettoseeiftheyareontrackfortheirfinancialgoals.

Day3:

Upgrades

Studentsneedtolookupthecostofanyupgradestheywouldliketoaddtotheirlifestyle.

Studentscanalsochoosetoupgradetoafamilypackage

PayBills

Studentspayexpensesandusetheirtracksheettoseeiftheyareontrackfortheirfinancialgoals.

Day4:

CheckProgressonFinancialPlan

PayBills

Page 2: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Studentspayexpensesandusetheirtracksheettoseeiftheyareontrackfortheirfinancialgoals.

Day5:

RandomEvents

Assigneachstudent2eventsthatpertaintotheirsituation.Onemajorandoneminor.

PayBills

Studentspayexpensesandusetheirtracksheettoseeiftheyareontrackfortheirfinancialgoals.

Day6:

CheckProgressonFinancialPlan

PayBills

Studentspayexpensesandusetheirtracksheettoseeiftheyareontrackfortheirfinancialgoals.

Day7:

Upgrades

Studentsneedtolookupthecostofanyupgradestheywouldliketoaddtotheirlifestyle.

Studentscanalsochoosetoupgradetoafamilypackage

PayBills

Studentspayexpensesandusetheirtracksheettoseeiftheyareontrackfortheirfinancialgoals.

Day8:

LastDayforChanges

Studentsmakeanylastminutechangestheythinkmighthelpthemmeettheirgoalsbeforethegameends.

Day9:

Reflection

Page 3: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Studentsreviewtheirchoicesandbudgetingskills,decidingwhattheydidrightandwhattheycouldhavedonebetter.Studentswilldecideifanydebttheyhavebuiltupisworthit.Studentsshouldunderstandthevalueofprecautionarymeasuressuchassavingmoneyandinvestingininsurance.

Page 4: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

EXPENSESOPTIONS

HousingOptions

BuyaHome/CondoA$1000permonthBuyingahomewasneversoconvenient!Asmallmodesthomewithasmallporchallofyourown.

BuyaHome/CondoB$1750permonthAbeautifulhomeatabeautifulprice.Enjoyyourforeverhomeincloseproximitytolocalparksandattractions.

BuyaHome/CondoC$2500permonthEnjoyalavishluxuryhomeinyourfavoriteneighborhood!Withalargelawnandbeautifulviews,thisgemisallyours.

RentaHomeA$900permonthAsmallhomewithasmalllotofgrass.

RentaHomeB$1250permonthAsuburbanhomeonasmalllake.Yourstouseforalimitedtime.

RentaHomeC$2000permonthGetluxuryforless!Rentyourdreamhomewithouttheextraexpensesofowningit.

RentanApartmentA$500permonthSmall1bedroomapartment.

RentanApartmentB$650permonthSmall2bedroomapartmentoralarger1bedroomapartment.

RentanApartmentC$850permonthApartmentwithupto3bedroomsandasmallbalcony.

BeaRoommate$???Talktoafriendwithaplace,maybeyoucanworkoutawaytosplitthecosts!

TransportationOptions

BuyaNewVehicleA$400permonth+$100gasEconomycar.Ridingonabudget.

BuyaNewVehicleB$500permonth+$100gasApracticalvehicle.Verysensiblechoice.

BuyaNewVehicleC$600permonth+$100gasLuxuryvehicle.You'reridinginstyle!

BuyaUsedVehicleA$100permonth+$100gasAclunkeryoufoundoncraigslist.Notellingwhenitmayfallapart.

BuyaUsedVehicleB$200permonth+$100gasAsmartbuy,thisshouldlastyouuntilyou'rereadyforsomethingelse.

BuyaUsedVehicleC$300permonth+$100gasIt'snotbrandnew,butIt'sdefinitelybeautiful!Luxuryforless.

PublicTransportation ShareaRide

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© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

$60permonth

You'retakingthebus!Wisemove.Hopefullytheyhaveair-conditioning.

$???

Talktoafriendwithacar,maybeyoucanworkoutawaytosplitthecosts!

InsuranceOptions(Pickupto3,theseareoptional)

AutoInsuranceA$30permonthBareminimumlegalcoverage.Betterhopenothinghappens.

AutoInsuranceB$80permonth

Decentcoverage.Youshouldbeokunlesssomethingverystrangehappens.

AutoInsuranceC$120permonthExcellentcoverage.Evenifapianofallsouttheskyandwrecksyourcar,youdon'tneedtoworry!

HomeInsuranceA$50permonth

Bareminimumcoverage.

HomeInsuranceB$70permonth

Mediumcoverage,asmartoption.

HomeInsuranceC$100permonth

Goodnews,evenifahurricanestrikesyourIndianahome,you'recovered!

HealthInsuranceA

$50permonth

Unlessyouremployerisprovidinghealthinsurance,thisoptionisforyou.

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© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

FoodOptions(Selectasmanyasyou'dlike,butyoumustpickatleastoneinthefirstrow)

Inexpensivehealthyfoods(rice,beans,pasta,bread,oatmeal,frozenveggies,etc.)$100permonth

Otherhealthyfoods(organicfreshproduce,meats,eggs,cheese,etc.)$100permonth

"Fun"food(frozenpizza,cereal&milk,cookies,chips)$100permonth

FastFood(McDonalds,Wendy's,BK,etc.)$5pervisit

CasualDining(RedLobster,OliveGarden,PizzaHut,etc.)$15pervisit

FancyRestaurants$30pervisit

WardrobeOptions(selectonefromeachrow)

Fashionista(DesignerBoutiques/FashionMall/etc.)$300permonth

Trendy(Mall/DepartmentStores/OnlineShopping/etc.)$100permonth

Thrifty(Walmart/Target/Goodwill/ClearanceSells/Craigslist/etc.)$50permonth

WashClothesByHand$10permonth(supplies)

Laundromat$30permonth

PurchaseWasher/Dryer$1000onetimepayment

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© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:Mechanic

EducationRequired:TradeSchool

Amechanicisatradesman,craftsman,ortechnicianwhousestoolstobuildorrepairmachinery.

Salary:$37,710

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$1,087.77

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$108

Page 8: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:Cosmetologist

EducationRequired:TradeSchool

Acosmetologistissomeonewhoisanexpertinthecareofhairandmakeupaswellasskincareandbeautyproducts.

Salary:$22,500

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$649.04

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$65

Page 9: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:InformationTechnologySupportSpecialist

EducationRequired:TradeSchool

InformationTechnologySupportSpecialist(oftenshortenedtotechsupport)referstoanyservicebywhichcompaniesprovideassistancetousersoftechnologyproductssuchasmobilephones,televisions,computers,softwareproductsorotherelectronicormechanicalgoods.

Salary:$45,064

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$1,299.92

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$129

Page 10: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:Teacher

EducationRequired:4yearCollegeDegree

Ateacher(alsocalledaschoolteacher)isapersonwhoprovideseducationforstudents.

Salary:$53,023

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$1,529.50

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$152

Page 11: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:Engineer

EducationRequired:4yearCollegeDegree

Anengineerisaprofessionalthatusesscientificknowledge,mathematics,andingenuity(creativity)todevelopsolutionsfortechnical,societalandcommercialproblems.

Salary:$61,645

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$1,778.19

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$177

Page 12: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:InteriorDesigner

EducationRequired:4yearCollegeDegree

Aninteriordesignerissomeonewhomanagestheartorprocessofdesigningtheinterior,oftenincludingtheexterior,ofaroomorbuilding.

Salary:$47,600

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$1,373.08

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$137

Page 13: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:ComputerScientist

EducationRequired:4yearCollegeDegree

Acomputerscientistisasomeonewhohasknowledgeofcomputerscience,thestudyofthefoundationsofcomputerstheirapplication.

Salary:$63,017

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$1,817.77

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$181

Page 14: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:Nurse

EducationRequired:4yearCollegeDegree

Acomputerscientistisasomeonewhohasknowledgeofcomputerscience,thestudyofthefoundationsofcomputerstheirapplication.

Salary:$68,910

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$1,987.77

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$198

Page 15: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:Doctor

EducationRequired:ProfessionalDegree

Aphysician(doctor)isaprofessionalwhopracticesmedicine,whichisconcernedwithpromoting,maintainingorrestoringhumanhealththroughthestudy,diagnosis,andtreatmentofdisease,injury,andotherphysicalandmentalimpairments.

Salary:$187,200

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$5,400.00

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$540

Page 16: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:Lawyer

EducationRequired:ProfessionalDegree

Alawyerisapersonwhopracticeslaw,asabarrister,judge,attorney,counsel(counseloratlaw)orsolicitor.Therearemany,many,waystobealawyerotherthandefendingaclientincourt.

Salary:$131,990

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$3,807.38

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$380

Page 17: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:BusinessManager

EducationRequired:ProfessionalDegree

Abusinessmanagerisapersonwhodrivestheworkofothersinordertorunamajorbusinessefficientlyandmakeaprofit.Heorsheshouldhaveworkingknowledgeofthefollowingareas,andmaybeaspecialistinoneormore:sales,marketingandpublicrelations;research,operationsanalysis,dataprocessing,mathematics,statisticsandeconomics;production;finance;accounting,auditing,taxesandbudgeting;purchasing;andpersonnel.

Salary:$78,342

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$2,259.85

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$225

Page 18: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:Professor

EducationRequired:ProfessionalDegree

Aprofessorisascholarlyteacherand/orresearcherinpost-secondaryeducation,usuallyanexpertinartsorsciences,ateacherofthehighestrank.

Salary:$117,740

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$3,396.35

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$339

Page 19: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:ResearchScientist

EducationRequired:ProfessionalDegree

Scientistsperformresearchtowardamorecomprehensiveunderstandingofnature,includingphysical,mathematicalandsocialrealms.

Salary:$75,646

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$2,836.70

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

EmployeeBenefits:

• HealthCareo Congratulations!Youremployerwillbeprovidinghealthinsuranceforyou.

StudentLoanMonthlyBill:$283

Page 20: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:Custodian

EducationRequired:HighSchool

Ajanitor,janitress(female),orcustodianisapersonwhocleansandmaintainsbuildingssuchashospitals,schoolsandresidentialaccommodations.

Salary:$22,320

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$643.85

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

Page 21: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:ChildCareProvider

EducationRequired:HighSchool

Childcareprovidersareresponsibleforthesupervisionofchildren,usuallyfromagesixweekstoagethirteen.ThemajorityofchildcareinstitutionsthatareavailablerequirethatchildcareprovidershaveextensivetraininginfirstaidandareCPRcertified.

Salary:$20,000

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$576.92

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

Page 22: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Occupation:RestaurantWorker

EducationRequired:HighSchool

Oneofmanydifferentpeoplethathelprestaurantsandfastfoodchainsoperate.Thisincludeswaitstaff,cashiers,andfoodpreparersamongothers.

Salary:$21,000

Yoursalaryistheamountofmoneyyoumakeperyearbeforetaxesandexpenses.

BiweeklyPaycheckaftertaxes:$605.77

Thisisahighestimateofhowmuchmoneyyouwouldmakeevery2weeksaftersomemoneyisremoved.Wheredoestherestofyourmoneygo?FederalIncomeTax,SocialSecurityTax,MedicareTax,StateIncomeTax,LocalIncomeTax,HealthInsurance,anda401K(retirementplan)aresomecommonexamples.However,onceperyearyouoftencangetasignificantportionofthismoneybackinyourTaxReturn.

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© 2015 the STEM in you Summer Enrichment Program – Dr. Crystal Morton

Random Events List

Everyparticipantgets1majorbadeventand1minorevent

MajorEvents(notrejectable)

• CarAccident(forcarowners)o MedicalBills:$100withinsurance,$300withouto CarDamage:$50withinsurance,$200withouto TowTruck:$25

• HouseFlood(forhomeowners/renters)o HomeDamage:$100withinsurance,$300without

• RentIncrease(forapartmentrenters)o Increaseof$50permonth

• Burglary(forany)o Propertyloss/damageexpense:$100withinsurance,$300without

• SickChild(forFamilies)o Lossofwork/wages:-$20thismontho Medicalbill:$50withinsurance,$100without

MinorEvents(rejectable)

• WeddingInvitationo CosttoAttend:$400flatfee

• AdorableStrayPuppyo CosttoKeep:$100permonth

• GirlScoutsCameKnockingo Investinsomecookies:$50

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© 2015 the STEM in you Summer Enrichment Program

Financial Simulation Track Sheet

DAY1:SETUPDAY

Choosinghowtostartthegame.(Usepencilincaseyouneedtomakechangeslater)

OCCUPATION:Salary:BiweeklyPaycheck:

LivingExpenses YourChoices CostsHousing

Transportation

Insurance

Food

Wardrobe

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© 2015 the STEM in you Summer Enrichment Program

DAY2:MAKEAFINANCIALPLAN

Attheendofthegamehowmuchmoneywouldyouliketohavesavedinthebank?____________________

Makeaplan:

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Whatotherfinancialgoalsdoyouhave?

_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Amountyoumadethismonth(todaycountsforawholemonth):____________

Amountyouoweinexpensesthismonth:_______________________________

Amountyouhaveleftinthebank:______________________________________

Areyoumakingenoughmoneyorareyouneedingmore?__________________

Don'tforgettopayforyourstudentloansifyouoweany.

Page 26: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program

DAY3:UPGRADEDAY

Researchthecostofitemsyouwouldliketoaddtoyourbudget.

ExampleItems

• Pet(Petfood,Petcare)• Secondhome/car• Avacation• CellPhone

NewAvailableExpenses

• Cable/internetservice-$100permontho TV/Computer-$1000

• HairandBeautyCare-$50permonth

UpgradetoaFamilyPackage:Ifyou'renotcurrentlyindebt,youcanupgradetoafamilypackagetoday.

• First,add$1000amonthinincome• Add$300amonthtoyourexpensesperchild

Amountyoumadethismonth:________________________________________

Amountyouoweinexpensesthismonth:_______________________________

Amountyouhaveleftinthebank:______________________________________

Areyoumakingenoughmoneyorareyouneedingmore?__________________

Page 27: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program

DAY4:FINANCIALGOALPLAN

Howmuchmoneydoyoucurrentlyhaveinthebank?_____________________

Doyouthinkthisisa"safe"amount?___________________________________

Areyouontrackforyourfinancialgoalfortheendofthegame?_____________

Makeaplan:

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Whatnewfinancialgoalsdoyouhave?

_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Amountyoumadethismonth:________________________________________

Amountyouoweinexpensesthismonth:_______________________________

Amountyouhaveleftinthebank:______________________________________

Howisyourcurrentbudgetworkingoutforyou?Doyouhaveanicebalanceofaffordabilityandenjoyability?Thinkofwaysyoucouldchangeforthebetter:

______________________________________________________________________________________________________________________________________

Page 28: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program

DAY5:RANDOMEVENTDAY

WHATHAPPENED:Howareyougoingtohandleit?

Amountyoumadethismonth:________________________________________

Amountyouoweinexpensesthismonth,don'tforgettoaddexpensesfromyourrandomevent!_________________________________________________

Amountyouhaveleftinthebank:______________________________________

Whatchangesifanydoyouneedtomaketoyourexpenses?

______________________________________________________________________________________________________________________________________

Page 29: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program

DAY6:FINANCIALGOALPLAN

Howmuchmoneydoyoucurrentlyhaveinthebank?_____________________

Doyouthinkthisisa"safe"amount?___________________________________

Areyouontrackforyourfinancialgoalfortheendofthegame?_____________

Makeaplan:

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Whatnewfinancialgoalsdoyouhave?

_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Amountyoumadethismonth:________________________________________

Amountyouoweinexpensesthismonth:_______________________________

Amountyouhaveleftinthebank:______________________________________

Howisyourcurrentbudgetworkingoutforyou?Areyouhavinganyissuesfromtherandomevents?Whatcanyoudotoimproveyoursituation?:

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Page 30: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program

DAY7:UPGRADEDAY

Researchthecostofitemsyouwouldliketoaddtoyourbudget.

ExampleItems

• Pet(Petfood,Petcare)• Secondhome/car• Avacation• CellPhone

NewAvailableExpenses

• Cable/internetservice-$100permontho TV/Computer-$1000

• HairandBeautyCare-$50permonth

UpgradetoaFamilyPackage:Ifyou'renotcurrentlyindebt,youcanupgradetoafamilypackagetoday.

• First,add$1000amonthinincome• Add$300amonthtoyourexpensesperchild

Amountyoumadethismonth:________________________________________

Amountyouoweinexpensesthismonth:_______________________________

Amountyouhaveleftinthebank:______________________________________

Areyoumakingenoughmoneyorareyouneedingmore?__________________

Page 31: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program

DAY8:MAKINGCHANGES

Howmuchmoneydoyoucurrentlyhaveinthebank?_____________________

Doyouthinkthisisa"safe"amount?___________________________________

Areyouontrackforyourfinancialgoalfortheendofthegame?_____________

MakeChanges:

Whatexpensescanyoucutbackon?Whichexpenses(ifany)canyouspendalittlemoreon?Makethesechangestohelpyourselfmeetyourgoalsandspendyourmoneywisely.

Amountyoumadethismonth:________________________________________

Amountyouoweinexpensesthismonth:_______________________________

Amountyouhaveleftinthebank:______________________________________

Howisyourcurrentbudgetworkingoutforyou?Whatcanyoudotoimproveyoursituation?:

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Page 32: Day 1 · until you're ready for something else. Buy a Used Vehicle C $300 per month + $100 gas It's not brand new, but It's definitely beautiful! Luxury for

© 2015 the STEM in you Summer Enrichment Program

DAY9:REVIEW&REFLECTION

Amountyoumadethismonth:________________________________________

Amountyouoweinexpensesthismonth:_______________________________

Amountyouhaveleftinthebank:______________________________________

Didyoumeetyourfinancialgoals?______________________________________

Ifyoucouldstartover,whatwouldyoudodifferently?_________________________________________________________________________________________________________________________________________________________________________________________________________

Whatwouldyoudothesame?_________________________________________________________________________________________________________________________________________________________________________________________________________

Doyouthinkitisimportanttohaveinsurance?WhyorWhynot?

_________________________________________________________________________________________________________________________________________________________________________________________________________

Whatweresomethingsthatyoucouldn'tcontrolthatmadethingseasierorharder?Howcanyouplanforeventsthatyoucan'tcontrol?_________________________________________________________________________________________________________________________________________________________________________________________________________


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