The Game of REAL Life

or

Penny Pinching for Eighth Graders

Learning to manage money is an essential skill for enjoying life without worrying about debts and big bills. For the next several days, you will be involved in a project that puts you into the future. You select a career, figure out your salary, plan a budget, even buy a car and rent and furnish an apartment. Your finale will be a housewarming event which you will plan and finance out of your resources. Good Luck, Good Shopping, and Good Budgeting!!

Tasks

Your task is twofold. First, you will prepare a portfolio for Family and Consumer Science which presents information you gather on various challenges and opportunities of life on your own. Second, you will prepare and present a Power Point presentation of your "first" apartment to your class and invite them to a housewarming event which you have planned. Perform the following tasks to gather the information necessary for your portfolio.

 Finding a Job

Life begins when you grab that first "perfect" job! You are out on your own; the money will be rolling on in. What are you doing?? Your first rung on the ladder of your project is to research three possible careers you think you would enjoy. Fill out the chart. Select one of the three jobs you as your "career." Answer the related questions in Part I of your Personal Budget Plan.

Visit the Occupational Handbook or the Career Zone to find career information.

 Calculate your Budget

Your monthly income will go for many things: rent, car payments, food, entertainment, utilities, and savings. How will you make sure you have enough money to pay for everything and not get too far in debt? That is where the idea of a budget becomes very important. A budget is a spending plan. Good budgets are based on certain expected spending patterns. Use the calculator on the computer (Go to Start-Programs-Accessories-Calculator) your Personal Budget Plan from the Kiplinger Magazine link to calculate how much money you will have to spend each month in each category. This is an essential step before you go car shopping or apartment hunting.

 Finding your Apartment

Now that you are on your own, you have to have a place to live. Your task in this part of your future journey is to hunt online or in the newspaper for for a one bedroom apartment. Your apartment must be in the Dover area. You can go as far south as Milford and as far north as Middletown. After you "rent" that apartment, fill out step four of your Personal Budget Plan, making sure you write down the web site you used to find your apartment.

Visit Rent.Net:the Online Rental Guide or Apartments.Com to rent your new home.

 Buying your First Car

The first major purchase you will make with your job will most likely be a great car. The challenge is to find the car of your dreams and be able to afford it. In this section you will find your perfect car and calculate your monthly payments. Fortunately, your fairy godmother dropped off $1000.00 for a downpayment at the dealership, so you don't have to worry about that! Good luck.

• Remember: your car can be new or used.
• Remember: determine your monthly payments and compare this to your monthly salary.
• Can you afford the car you are choosing?  
  
  

Visit Car Reports or Autobytel to find the best car for your money. If you are more interested in a used vehicle, shop at AutoTrader.

• When you find the car, calculate your monthly payments.
• Get a quote for your annual insurance costs. Remember to divide the amount by 12. This will give you your monthly payment.

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 Furnishing Your Apartment

Life is good! You've got the car, the job, a great apartment. The trick is to decorate that apartment so that it reflects your personality. Read Decorating your First Apartment before you visit online shopping sites to pick out the perfect furniture and accessories. Oh! Your fairy godmother dropped by again and deposited $3000.00 in your bank account to assist you in your mission. You've spent some money on silverware, pots and pans, dishes, and linens. You have $2466.00 left in the "furnish my pad" account.

Strategies for successfully completing this phase of the project:

• Know the square footage and the layout in your apartment.
• Visit See My Design and plan color schemes, furniture placement, carpet colors. At this site, select the first option to preview colors and some furniture ideas.
• Print out the graph paper within the article to include in your portfolio. On it, plot your apartment layout, room design, furniture placement, and note color scheme or wall coverings.
• Stay within your budget. Note the site(s) where you find your furniture and accessories.
  • Hint: Have the calculator visible. Subtract each "purchase" from the total amount available. Provide the cost of each piece of furniture, the paint and/or wallpaper, etc. to verify that you stayed within the budgeted amount.

  • Hint: If your occupation allows you more money to spend, you may do so, noting the source of the additional funding in your portfolio. 
    

  Visit Furniture Find, North Carolina Furniture Online, or Furniture.com for your furnishing needs.

In the portfolio to be submitted in class, be sure to include these items in the furnishing section: paint colors, pictures of your furniture, wall decorations, accents, and lighting fixtures.

 Hosting a Housewarming Party

Your task is nearly complete. Your apartment is furnished, the car is washed, and you are ready for work. Time to invite your friends for a celebration. Planning for the big event is crucial for it to be a success. Follow these simple steps to hosting a great party. Include samples from each "step" in your portfolio.

• What type of party are you having? A simple get-together? A barbecue? A sit-down dinner?
• How many people will you invite? Create an invitation using Microsoft Word or another graphics program. Include a copy in the portfolio.
• What is your menu? Refer back to the type of party you are planning to design your menu. Include the menu in the portfolio. Don't forget drinks and snacks!
• Select some recipes for your party. Use some from home cookbooks, your Mom's recipe box, or try Cooking Light or Food TV's site. Include two recipes in the portfolio.
• Using your menu and the recipes, create a shopping list. Include a your shopping list in the portfolio.
• What additional supplies are needed? Candles? Flowers? Paper plates and napkins? Include these in your shopping list.

 Reality and the Game

Now that you have completed the Game of Real Life, compare your career monthly salary with your dream life style.

• Did you find it hard to stay within your budgeted amount for car payments, rent, etc. and still have money for entertainment and savings?
• What, if anything, did you have to change to be a successful player at the Game of Real Life?
• Print the self evaluation. Include it with your portfolio.
• Evaluate yourself and your project (BEFORE you turn it in).

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Teacher Resources

This activity is designed to meet many of the standards in the Family and Consumer Science program in the State of Delaware. Additionally, students are expected to accomplish many tasks which require them to use technology with a beginning to moderate level of proficiency. Rubrics for scoring the portfolio and the class presentation are available.