Personal finance final Portfolio Project

In The Game of Life®, players start out with a set amount of money and travel along the game board in little plastic cars—“experiencing” life by following directions on cards with life events on them. The winner is the player with the most money at the end of the game. In real life, random cards do not determine your life—you do. One of the most important skills you need for success is to be able to set up and live within a realistic budget. 

You are to create a detailed, realistic personal finance plan (budget). The required components of your finished project are:

~PowerPoint Presentation

-Pay Scale for State of Residence

You have just graduated from college (2-year, 4-year, master’s program) or a training/licensing program and have landed an entry-level job in your career track. You currently have $5,000 in your savings account (thanks to those generous graduation gifts). You need to research and create a detailed personal finance plan (budget) using all the categories listed on the Criteria Page PLUS you have monthly student loan payments:

·         $250 if you’ve completed 5+ years of college
·         $150 if you have completed 4 years of college
·         $100 if you have completed 2 years of college
·         $50 if you have completed training/licensing program

Your job:___________________________________________________________________   

Education required: ____________________________________________________________

 Annual salary: $______  ÷  12  =  monthly salary $______  (You must put monthly salary in Excel worksheet)

You will live in (city & state): _____________________________________________________ 


Scenario #2:  Workforce

You have just graduated from high school and have chosen to begin work rather than go to college at this time. Thanks to generous parents, friends, and relatives, you have $5,000 in your savings account. You need to research and create a detailed personal finance plan (budget) using all the categories listed on the Criteria Page.

 Your job:___________________________________________________________________  

 Annual salary: $_______ ÷  12  =  monthly salary $_________  (You must put monthly salary in Excel worksheet)

You will live in (city & state): ________________________________________________________

Health Benefits:

 To make it easier for you, we have figured out what a basic, single, health coverage would be (this does not include dental).

• 
  Union job (blue or white collar) – $60.82/month
  
• 
  White Collar non-union job – $174.77/month
  
• 
  Entrepreneur, blue collar worker with no union, attorney or doctor in own practice - $287/month
  

https://w2.assurant.com/agm/rentersinsurance/campaignstart?jobnumber=generic&accountId=GCW&cmsJobnumber=174631

• 
  Auto: http://insurance.yahoo.com/a/a1.html
  
• 
  Dental: http://www.the-insurance-place.com/dental-insurance/dentalplans-dental-insurance-plans.html
  
• 
  Term Life - search by zip code for free quotes from Our Health Agent
  http://www.ourhealthagent.com/
  
• 
  Health - see Scenario sheet
  

Mobile Phone Comparison - compares the top 4 U.S. wireless phone plans.

Remember: Car websites offer insurance AND loan information, too. 

Remember: Car websites offer insurance AND loan information, too.

 

College Loans 

This is determined for you in your task:

• 
  $250/month if you’ve completed 5+ years of college
  
• 
  $150/month if you have completed 4 years of college
  
• 
  $100/month if you have completed 2 years of college
  
• 
  $50/month if you have completed training/licensing program  
  

5% of your net pay is automatically deposited.

NetGrocer.com - create a typical grocery list and check out prices; also has prices for health & beauty needs. http://www.netgrocer.com/

 

non-essentials