My Financial Future
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Rules
General Information: Entries should be typed and then attached to a piece of colored card stock or colored poster board (limit the size of the poster board or card stock to 14 inches x 22 inches or smaller). You may use the front and back of the poster board. Scoresheet:
247001 Write 3 SMART financial goals for yourself (SF247) - one should be short term, one intermediate, and one long term. Explain how you intend to reach each goal you set.
247002 Income Inventory (SF247) - Using page 13 as a guideline, list sources and amounts of income you earn/receive over a six-month period. Answer the following questions: What were your income sources? Were there any steady income sources? What did you do with the income you received? Include your income inventory in the exhibit.
247003 Tracking Expenses (SF247) - Use an app or chart like the one on page 17 to track your spending over two months. Answer the following questions: What did you spend most of your money on? What did you learn about your spending habits? Will you make any changes in your spending based upon what you learned? Why or why not? Include your chart in your exhibit.
247004 Money Personality Profile (SF247) - Complete the money personality profile found on pages 21-22. Answer the following questions: What is your money personality? How does your money personality affect the way you spend/save money? Have a friend or family member complete the money personality profile. Compare and contrast (how are you alike how are you different) your money personality profile with theirs.
247005 Complete Activity 8 “What Does It Really Cost?”(SF247) - on pages 39-40.
247006 My Work; My Future (SF247) - Interview three adults in your life about their careers or jobs using the questions on page 51 and record these answers. In addition, answer the following questions on your display. What did you find most interesting about these jobs? Were there any positions you might want to pursue as your career? Why/Why not? What careers interest you at this point in your life? What are three steps you need to do now to prepare for this career?
247007 Interview (SF247) - Interview someone who is paid a salary; someone who is paid a commission; and someone who is paid an hourly wage. Have them answer the following questions plus any additional questions you may have. *What are some benefits of receiving your pay the way you do (salary, commission, or hourly wage)? *What are some negative outcomes for getting paid the way you do? *Does your pay keep pace with inflation? Why do you think this? Summarize: Based upon your interviews which payment method would suit you the best? Discuss your answer.
247008 The Cost of Not Banking (SF247) - Type your answers to the questions about Elliot on page 50.
247009 Evaluating Investment Alternatives (SF247) - complete the case study of Jorge on page 64. Answer all three questions found at the bottom of the page.
2470010 Understanding Credit Scores (SF247) - Watch the video and read the resource listed on page 71. Answer the following questions. *Name three prudent actions that can reduce a credit card balance. *What are the main factors that drive the cost of credit? *List one personal financial goal that you could use credit or collateral to purchase. Discuss possible consequences that might happen with improper use of credit for your purchase.
247011 You Be the Teacher (SF247) - Create an activity, story board, game or display that would teach another youth about “Key Terms” listed on page 62. Activity/display must include at least five of the terms.