Day 15 (PF)

DO THIS FIRST TODAY: TEACHER MIDTERM EVALUATION: https://www.surveymonkey.com/r/C73C2KS

GOAL: When you leave class today you will be able to:

  1. Analyze the prevalence of online and mobile banking as compared to more analog banking options
  2. Set up online bill pay as one-time and recurring payments
  3. Enumerate the benefits of direct deposit for their paychecks
  4. Navigate an online bank account

RIGHT NOW:

  1. OPEN THIS FILE
  2. MAKE A COPY by following these steps:
    1. File menu
    2. Choose MAKE A COPY
    3. Delete COPY OF & type your name there instead
    4. SHARE it with tracyweber@bellevue.k12.ia.us
  3. #1–Make a copy of the linked Doc–we will do this together–10 min
  4. #2–Read and do on your own–10 min–we will discuss when you are done
  5. #3–We will do this together–5 min
  6. #4–Make a copy of the linked Doc–we will do this together–20 min
  7. #5/#6–USE THIS FORM to complete #3 on your own–5 min

IF TIME PERMITS:

  1. VIRTUAL BUSINESS CHALLENGE https://vb.knowledgematters.com/user
  2. LIFESMARTS https://lifesmarts.org/
  3. The Iowa Online Challenge will be held at financechallenge.unl.edu from January 1st – March 20th, 2020. The four highest scoring high school teams per region will be invited to the State Finals.
    1. Click the link
    2. Choose IOWA
    3. Scroll down & click PRACTICE
    4. Type in your name & click CONTINUE
  4. SENIORS DO THIS–sometime when you have a moment

GOAL: When you leave class today you will be able to:

  1. Differentiate between person-to-person apps, messenger-based payments, and digital wallets
  2. Assess the adoption rates and conveniences of various mobile banking products
  3. Identify ways you can protect your money in a digital world

RIGHT NOW:

  1. OPEN THIS FILE
  2. MAKE A COPY by following these steps:
    1. File menu
    2. Choose MAKE A COPY
    3. Delete COPY OF & type your name there instead
    4. SHARE it with tracyweber@bellevue.k12.ia.us
  3. #1–Do on your own–5 min
  4. #2–Read and do on your own–10 min–we will discuss when you are done
  5. #3–We will do this together–10 min
  6. #4–We will do this together–10 min
  7. #5–Read and do on your own–5 min–we will discuss
  8. #6–Read and do on your own–10 min–we will discuss
  9. #7–USE THIS FORM & complete it on your own–5 min

IF TIME PERMITS:

  1. VIRTUAL BUSINESS CHALLENGE https://vb.knowledgematters.com/user
  2. LIFESMARTS https://lifesmarts.org/
  3. The Iowa Online Challenge will be held at financechallenge.unl.edu from January 1st – March 20th, 2020. The four highest scoring high school teams per region will be invited to the State Finals.
    1. Click the link
    2. Choose IOWA
    3. Scroll down & click PRACTICE
    4. Type in your name & click CONTINUE
  4. SENIORS DO THIS–sometime when you have a moment

GAME OF LIFE

GOAL: When you leave class today you will:

  1. Be assigned a job/career with a monthly paycheck
  2. Receive your first paycheck
  3. Pay your monthly bills
  4. Record your monthly “surprise”
  5. Know your marital status
  6. Know your automobile
  7. Create a Google Sheet for your bank log
  8. Write checks & fill out your check register
  9. Record all transactions in your check register & in your Google Sheet Bank Log

RIGHT NOW:

  1. Watch this video & do it–GOOGLE SHEETS BANK LOG
  2. Watch this video on how to write a check
  3. Get your packet & do the following:
    1. Record your paycheck in your CHECK REGISTER & YOUR GOOGLE SHEET BANK LOG
    2. Pay your monthly bills following this procedure for EACH CHECK:
      1. Write the check as the video instructed above
      2. Record it in your check register
      3. Record it in your Google Sheet Bank Log
    3. Get your monthly surprise & record it
      1. Write the check as the video instructed above
      2. Record it in your check register
      3. Record it in your Google Sheet Bank Log
    4. Get your automobile type & record your monthly payment
      1. Write the check as the video instructed above
      2. Record it in your check register
      3. Record it in your Google Sheet Bank Log
    5. Get your marital status & record child support payment, if you have one
      1. Write the check as the video instructed above
      2. Record it in your check register
      3. Record it in your Google Sheet Bank Log

SAVING

SAVING 

SAVING

SAVING

SAVING PROJECT: https://docs.google.com/document/d/1qowtlg2_eEQcKCHNSqbNr-rKIKvzAXohH4Xdhz_lI2s/edit

GAME OF LIFE

EVEFI LESSON 3: BUDGETING

EVERFI LESSON 4: CONSUMER SKILLS

BUDGETING

BUDGETING

BUDGETING

BUDGETING

BUDGETING PROJECT: https://docs.google.com/document/d/1mu_EXreNEnVLUBO1TzujKhUkeSjYc5HJAIVd-IPhwnI/edit

GAME OF LIFE

EVERFI LESSON 5: CREDIT & DEBT

TYPES OF CREDIT

TYPES OF CREDIT

TYPES OF CREDIT

TYPES OF CREDIT

TYPES OF CREDIT

TYPES OF CREDIT

TYPES OF CREDIT

GAME OF LIFE

MANAGING CREDIT

MANAGING CREDIT

MANAGING CREDIT

MANAGING CREDIT

BUILD A TIMELINE FOR YOUR CREDIT HISTORY: https://docs.google.com/document/d/15DAsTaYX6tIdFuDTyGREgipw_tGuSTli9fgrkppFd90/edit

GAME OF LIFE

EVERFI LESSON 7: INSURANCE

INSURANCE

INSURANCE

INSURANCE

INSURANCE

GAME OF LIFE

EVERFI LESSON 6: FINANCING HIGH EDUCATION

PAYING FOR COLLEGE

PAYING FOR COLLEGE

PAYING FOR COLLEGE

PAYING FOR COLLEGE

PAYING FOR COLLEGE

50 WAY TO PAY FOR COLLEGE PROJECT: https://docs.google.com/document/d/17L7-laQBsVf16S_1myfpQZbIJm90QdHtzRQ6NY4MrHU/edit#

GAME OF LIFE

INVESTING

INVESTING

INVESTING

INVESTING

GAME OF LIFE

QUIZLET/KAHOOT/QUIZIZZ–see 9 week course–review

FINAL EXAM–see 9 week course

 

  1. Get into the Virtual Business Personal Finance game on your desktop–the Yellow button with the Red dollar sign
    1. Under CHOOSE ONE choose TUTORIAL
    2. Read the contents of the yellow box & click next–see how far you can get today.

GOAL: Before you leave class today you will have the opportunity to play a simulation in which you develop a schedule that gets you to work on time while keeping you healthy.

  1. Get into the Virtual Business Personal Finance game on your desktop–the Yellow button with the Red dollar sign
  2. Click on LESSONS & Open the Lesson 1-Time Management & Health handout (or get it from your teacher)
    1. Read YOUR SITUATION & GOOD NEWS at the top of the handout
    2. PART A:
      1. DO #1 FIRST–You must review the tutorial or you will NOT know what to do.
      2. #2–you may have already did if you printed your own handout
      3. #3–Do it as instructed
      4. #4–Do it as instructed–be sure to read the HINT
      5. #5–Do it as instructed–be sure to read the HINT at the bottom of the page
      6. #6–Answer the question in the Word Online file for this class. Be sure to share it with me again (or you can print it and write the answers on the printout)
    3. PART B:
      1. Read and do it as instructed.
      2. When answering a question use the Word Online file for this class. Be sure to share it with me again (or you can print it and write the answers on the printout)
  3. Click the HELP menu and choose TUTORIAL–read and do to get better acquainted with the game.

WATCH AND DO THIS VIDEO FIRST TODAY TO GET LOGGED IN TO YOUR ONEDRIVE ON YOUR COMPUTER: https://screencast-o-matic.com/watch/cqVbox3bE6

GOAL: Before you leave class today you will have the opportunity to play a simulation in which you develop a schedule that gets you to work on time while keeping you healthy.

  1. Adam Genthe, Ryan Kilburg, Sophie Long, Abe Steinbeck–REGISTER: VIRTUAL BUSINESS CHALLENGE PERSONAL FINANCE
  2. Get into the Virtual Business Personal Finance game on your desktop–the Yellow button with the Red dollar sign
  3. Click on LESSONS & Open the Lesson 1-Time Management & Health handout (or get it from your teacher)
    1. Read YOUR SITUATION & GOOD NEWS at the top of the handout
    2. PART A:
      1. DO #1 FIRST–You must review the tutorial or you will NOT know what to do.
      2. #2–you may have already did if you printed your own handout
      3. #3–Do it as instructed
      4. #4–Do it as instructed–be sure to read the HINT
      5. #5–Do it as instructed–be sure to read the HINT at the bottom of the page
      6. #6–Answer the question in the Word Online file for this class. Be sure to share it with me again (or you can print it and write the answers on the printout)
    3. PART B:
      1. Read and do it as instructed.
      2. When answering a question use the Word Online file for this class. Be sure to share it with me again (or you can print it and write the answers on the printout)
  4. Click the HELP menu and choose TUTORIAL–read and do to get better acquainted with the game.

Online Financial Life–Internet Safety Unit for Workshop for Elementary Students: https://kwhs.wharton.upenn.edu/lesson_plans/your-online-financial-life/

Go to the Reach Branding Online ID Calculator and answer the survey questions.

Video Glossary
Provide an extra layer of learning for your students with our video glossary. Here, Wharton professors define terms like: DataData MiningOnline Privacy and Regulatory Restrictions.

USE yourname@bellevuek12iaus.onmicrosoft.com email address & check your OUTLOOK account for the confirmation email from Budget Challenge by logging in to your Microsoft 365 account ONLINE.

OVERVIEW OF TODAY’S LESSON–WATCH THIS VIDEO: https://screencast-o-matic.com/watch/cqnVrK3glv

BUDGET CHALLENGE

GOAL: Before you leave class today you will register for the budget challenge, know about the Budget Challenge and you will begin to choose your vendors for the game.

The goal of the simulation is for students to learn personal finance is about priorities and trade-offs. The simulation scoring and metrics encourage positive behaviors and discourage counterproductive behaviors.

Student priorities:

  1. Pay bills on-time.
  2. Minimize fees.
  3. Prepare for unexpected events.
  4. Manage a credit card balance
  5. Maximize retirement savings into 401(k).
  6. Maintain a Budget and Cash Flow Spreadsheet, or comparable tool to track income and expenses. Reconcile the tracking tool regularly.
  7. Research quiz topics independently.
  8. Ask questions when they do not understand or need help.

The best way to learn personal finance is through experiencing it first-hand. This simulation immerses students into financial life as an adult, so they can go through the actions of paying bills, saving for, retirement and dealing with unexpected events while having a teacher to support them through the process.

It is important that students make their own decisions, and even make mistakes, in the simulation to learn personal finance lessons. Encourage discussion, but insist on individual play. Each student must maintain their own Budget and Cash Flow Spreadsheet, pay their own bills, determine their own 401(k) contribution percent, take their own quizzes/surveys, and submit their own Help Desk tickets.

Once the simulation begins, students will be immersed into the financial life of a college graduate. They will begin to receive and pay bills, maintain their CFS, and monitor and manage their credit card balance. To avoid paying bills late, students will need to stay engaged, plan and execute a budget.

Students can take advantage of the Mobile Bill Pay App provided for both iOS and Android devices. Some tasks are better performed on the website so the app is primarily for paying bills. Students can access the App at Bank>Bill Payer App from budgetchallenge.com or by going to the App Store or Google Play and searching “Budget Challenge.”

Students will learn through the process of researching and answering quiz questions, using provided resources, and through interacting with customer service through the Help Desk. Each help desk ticket receives an individual response on which the teacher is carbon copied.

TODAY:

  1. WATCH THIS VIDEO & DO EXACTLY WHAT IT IS SHOWING YOU TO REGISTER FOR THE BUDGET CHALLENGE
    1. THIS IS OUR CLASS CODE: XALEWUB
    2. YOU DO NOT NEED TO PAY!!!! THE SCHOOL WILL
  2. CHECK YOUR SCHOOL EMAIL for a message from the Budget Challenge people & click the AUTHORIZE & LOG IN BLUE LINK
  3. ONCE YOU ARE LOGGED IN TO THE SIMULATION:
    1. Go to the STUDENT HOME
    2. Click VIEW DETAILS in the ROAD TEST section–READ ONLY each one to acquaint yourself–you will visit your DASHBOARD (you should) EVERY DAY during the simulation.
    3. Click VIEW DETAILS in the WRITTEN TEST section
      1. Click UNIT MATERIAL
      2. Watch the video and read the reading material–there are video links throughout the reading–Watch Them!! THIS WILL TAKE A LOT OF TIME–this is the CONTENT of the class each week–YOU are responsible for reading it–it will need to be done outside of class.
        1. For this first unit, read/skim through this today–over the next few classes before the simulation begins, we will cover everything in this Unit Material–this is ONLY for UNIT 1
      3. When you are done with the unit material, click STUDENT HOME
    4. When you feel like you have mastered the UNIT MATERIAL, do the following:
      1. Click VIEW DETAILS in the WRITTEN TEST section
      2. Take the TWO quizzes
    5. Begin researching your options for vendors and making vendor selections
    6. Find the Knowledge Base (FAQs) which is located on Student
      Home>Knowledge Base. This Knowledge Base is a great
      resource where you can find answers to frequently asked
      questions

BUDGET CHALLENGE

WATCH THIS LESSON OVERVIEW VIDEO: https://screencast-o-matic.com/watch/cqnV3X3g2I

EVERYTHING IN THIS LESSON NEEDS TO BE DONE; HOWEVER, EVERYTHING IN BOLD MUST BE DONE FOR A GRADE!!

Pit Stop Summary: The Budget and Cash Flow Spreadsheet (CFS) is really two tools in one: 1. Budget – A plan for your money (for projecting over a long term). 2. Cash Flow – Tracks money going into and leaving your bank account (for balancing and projecting cash position on a daily basis).

Terminology Tune-Up:

  1. Credit – Money added to your bank account. Also referred to as a deposit.
  2. Debit – Money deducted from your bank account. Also referred to as a withdrawal.
  3. Negative Balance – The bank account has less than $0.
  4. Net Income – The dollar amount of your paycheck. This is your “take-home” pay.
  5. Minimum Balance – The lowest balance possible without receiving a fee.

Navigation Tips:

  1. Determine the best time of day to dedicate 10-15 uninterrupted minutes to managing money in the simulation. Use this time to update your budget and schedule bills.
  2. Actively manage your budget on a regular basis.
  3. Reconcile the CFS to the bank account activity regularly to ensure it is accurate.

Navigation Tip #1: Students should not wait until a bill is due to issue the check. In Budget Challenge, there is a two-day processing window for checks. Plan ahead and schedule checks to pay bills on time. It is important for students to remember that entering a payment on their CFS does not schedule the bill to pay. They must schedule bills to pay at Student Home>Bank.

Navigation Tip #2: After building budgets with expected inflows (credits) and outflows (debits), students should ask themselves these questions: • Is my bank account projected to be positive every day in the simulation based on the current budget? Will I be below my bank account minimum balance requirement? • Do I have the right bank account type for me? • Do I have enough Net Income allocated to allow for enough liquid cash flow to pay my bills on time? Should I change my 401(k) percentage? • Should I pay more or less on my credit card to fit my budget?

Navigation Tip #3: The CFS is a great tool for guiding students through the simulation when it is reconciled regularly

Turn-by-Turn Navigation: Building a budget is like making a plan.  Use the Budget and Cash Flow Spreadsheet “CFS” to build a budget during registration and to maintain your budget throughout the simulation. Download the CFS and use the following steps to set up your CFS and build your budget based on your net pay and vendor selections. By building a budget you will be able to determine the amount you are able to contribute to your 401(k) for each payroll period in the game. Make sure to select a contribution percentage that allows you to achieve the goal of saving $500 in your emergency fund and still have enough money to pay all bills on time and achieve the other financial goals in the game. Use the scenario, information provided during vendor selections, and the goals of the game (included on the Dashboard) to build your plan for the game.

  1. Watch Video #3: How to use the Cash Flow Spreadsheet video. Watch the Cash Flow Video
  2. DOWNLOAD THE CFS EXCEL VERSION — WATCH THIS VIDEO TO SEE HOW TO DOWNLOAD THE FILE TO YOUR ONEDRIVE AND OPEN IT IN EXCEL ONLINE TO WORK ON IT
  3. WATCH THIS VIDEO TO HELP –HOW TO GET STARTED WITH YOUR CFS, HOW TO ENTER YOUR OPENING BALANCE, HOW TO CHOOSE YOUR 401(k)–https://screencast-o-matic.com/watch/cqVTYa3Uj5
    1. Go to Student Home>Info Packet. Find and enter the simulation start date in cell A9 and the beginning bank account balance in cell B9 of the spreadsheet.
  4. Read through the offer letter from ProperLiving Widget Engineering & Design found in the Info Packet. Notice that this is the letter you received prior to starting work (almost a year ago). It is included to provide context for the simulation scenario, however pay dates and specific net pay information are obtained from Student Home>Vendor Selections> Employer tab.
  5. Go to Student Home>Vendor Selections>Employer tab, select the 401(k) plan and contribution percent.
  6. Scroll down to find the Paycheck Calculator. Notice that the row for your selected contribution percent is highlighted in yellow. You may need to refresh screen if it does not happen automatically.
  7. From the Employer tab, determine the number of days from the start date until the first payday. Paychecks arrive every two weeks going forward from that date.
  8. Your net pay is money remaining from your paycheck once taxes and pre-tax deductions have been taken out. Net pay is the amount your employer deposits into your checking account.
  9. Using the Paycheck Calculator, enter the net pay in the column B cell for the day after you get paid. This is important because the bank has a one-day Funds Availability Hold. That means you can use the money the day after it is deposited.
  10. WATCH THIS VIDEO TO HELP YOU SELECT YOUR BANK ACCOUNT: https://screencast-o-matic.com/watch/cqVTrn3U6k
  11. Now, using the information on the remaining Vendor Selections tabs, enter the bill payments due before your first paycheck. Make sure to enter the bill amount for each vendor in their respective column in the spreadsheet on the date it is due.

BUDGET CHALLENGE

WATCH THIS LESSON OVERVIEW VIDEO FIRST: https://screencast-o-matic.com/watch/cqnV303g2M

EVERYTHING IN BOLD BELOW MUST BE COMPLETED TODAY!!

Pit Stop Summary: High school graduates are a target audience for many products and services. This Pit Stop provides general guidelines for students about reading and understanding contracts and agreements before signing on the dotted line.

By signing a contract, the law assumes it has been read, understood and agreed upon. During the Student Buckle Up week, students choose products/services they will use during Budget Challenge. Vendor selections may be changed until 9 p.m. local time on the start date of the simulation. Once the simulation begins, the choices made on the vendor selections tabs represent contracts entered into by each student. The Test Drive for this Pit Stop is to have students make their vendor selections.

Terminology Tune-Up:

  1.  
  2. Contract: A formal and legally binding agreement between at least two parties.
  3. Binding: An obligation by both parties to a contract.
  4. Warranty: Written guarantee, issued to the purchaser of an item by the manufacturer, promising to repair or replace the item if necessary within a specified period of time.

Did You Know? Failure to fulfill a contract can cause financial loss and affect your credit score.

Navigation Tip #1: Make thoughtful product/service choices by reading the information on Student Home>Vendor Selections and Student Home>Info Packet. Ask questions when you do not understand. Budget Challenge provides a Knowledge Base of FAQs. If the information needed is not in the vendor tabs, Info Packet or Knowledge Base, questions may be submitted using the Help Desk form at Student Home>Help Desk.

Navigation Tip #2: Plan payments as agreed upon in the contract. Vendor contracts in Budget Challenge are binding agreements. Failure to pay the full amount due results in fees and penalties. Note: Only the credit card allows a minimum payment. Insurance agreements require premium payments by the due date. Otherwise, the insurance company does not have to provide coverage. Start-up costs may result in the first bill being higher than subsequent bills.

Navigation Tip #3: When a contract includes a warranty, it is important to know the coverage, effective dates and associated costs. In the simulation, one type of event may affect the cellphone. Two cellphone options are offered, one with a warranty $10 usage charge, and the other cheaper plan with no warranty.

Navigation Tip #4: After the simulation starts, students may access vendor contract details on Student Home>Vendor Selections to verify the accuracy of their bills. This view is read-only once the simulation starts. 401(k) details are managed on the Student Home>401(k) page.

RIGHT NOW:

  1. WATCH THIS VIDEO TO HELP YOU SELECT YOUR APARTMENT & CAR LOAN: https://screencast-o-matic.com/watch/cqVTrU3Ul9
  2. WATCH THIS VIDEO TO HELP YOU SELECT AUTO INSURANCE, CABLE & CELL PHONE: https://screencast-o-matic.com/watch/cqVT3V3Uo2
  3. WATCH THIS VIDEO TO HELP YOU SELECT CREDIT CARD, UTILITIES, RENTER INSURANCE, & STUDENT LOAN: https://screencast-o-matic.com/watch/cqVT343UFj

WATCH THIS VIDEO FOR PART OF THIS LESSON’S OVERVIEW: https://screencast-o-matic.com/watch/cqnfrL3Cy8

PLEASE READ AND DO EVERYTHING BELOW–THE BOLD ITEMS MUST BE COMPLETED TODAY!!

BUDGET CHALLENGE–Vendor Selections

BUDGET CHALLENGE

401(k)

Pit Stop Summary: A 401(k) plan allows an employee to contribute a portion of their gross wages into an investment account to save for retirement. Employers often match this contribution (up to a limit and sometimes with vesting requirements) to encourage employees to save. You can always contribute more than your employer match. Taxes on the contributions and the investment earnings are deferred until the money is withdrawn during retirement. In Budget Challenge, students should maximize their 401(k) contributions while maintaining enough liquid cash to pay for current expenses and for potential unexpected events.

Terminology Tune-Up:

  1. 401(k): Company sponsored retirement plan.
  2. Tax Deferred Growth: Taxes are not paid on contributions or earnings until withdrawn.
  3. Employee Contribution: Money deducted from gross pay and deposited into the 401(k) account.
  4. Employer Match: Amount of money the employer contributes to employee’s 401(k) account.
  5. Vesting: Time period an employee must work for the company before being eligible to keep the employer match money.

NAVIGATION TIP #1: Students select their 401(k) plan and contribution as a percentage of their salary during “vendor selections.” The plan chosen determines the employer match, which is locked in for the duration of the simulation. During vendor selections, students can change their 401(k) percentage and plan choices on the Student Home>Vendor Selections>Job tab. After the simulation begins, the only change students can make to their 401(k) is their contribution percentage at Student Home>401(k).

NAVIGATION TIP #2: It is important for students to understand they cannot withdraw money from their 401(k). The goal is to budget appropriately to keep enough money in their net pay to satisfy bills and even a bit more in case of any unexpected events. Students can use the Paycheck Calculator on the Job tab to view the Net Pay schedule as it relates to their 401(k) contribution percentage selected. The system will highlight the row in the table that reflects the student’s selection.

NAVIGATION TIP #3: Throughout the Challenge, students can use the Budget and Cash Flow Spreadsheet (CFS) to assess their cash and determine if their current 401(k) contribution leaves them with enough to pay bills on time.

MAKE BUDGETING ADJUSTMENTS USING THE CASH FLOW SPREADSHEET

Here are some questions to ask when prepping your CFS:

  1. Is my bank account projected to be positive based on the current budget?
  2. Do I have the right bank account type?
  3. Should I change my 401(k) percentage?
  4. Should I pay more or less on my credit card to fit my budget?
  5. Look at the Checking Account Balance Column (Column O, highlighted in yellow).
    1. At any point did the numbers turn red?
    2. What does it mean when the numbers turn red in the balance column?
    3. Were you able to pay all of your bills in full and on time without
      going below the minimum balance requirement (for the checking account type you selected) or going negative?
      1. If you answered yes, what could you have done to prevent your account from going negative and/or going below your account minimum?
    4. What methods will you use to remember to pay your bills and keep your Budget and Cash Flow Spreadsheet updated?

REMINDERS:

  1. There is a one-day hold on deposits. Enter deposits into the CFS on the date the funds are available.
  2. Entering the check amount in your CFS does not pay the bill. Once the simulation begins, go to Student Home>Bank to issue checks to vendors.
  3. You can change your vendor choices in Vendor Selections Tabs until the simulation starts. Once the simulation begins, you can only change your 401(k) contribution percentage (at Student Home>401(k)) and your bank account type (at Student Home>Bank).

CONTINUE TO PREP BY TRYING THE FOLLOWING:

  1. Project and record future payments to vendors based on the cycle day, due day, grace period, bill amount, and billing frequency for your vendor selections by entering the bill amount for each vendor for the appropriate date.
  2. Determine and record contracted bank fees in the “withdrawals, transfers, & bank fees” (pink column C) on your CFS, based on planned transactions and your selected bank account option. For example, if you selected a checking account with per check fees, each day a check is set to clear make sure you include $0.50 in the withdrawals, transfers & bank fees column for the check fee on that day. 
  3. Record possible future transfers of funds from your checking account to your savings account for an unexpected event.  Track transfers from checking to savings in the “withdrawals, transfers, & bank fees” (pink column C) on your CFS.
  4. Analyze the budget you have created to determine if you will have enough money to pay your bills, save for retirement, and save money in your savings account based on your vendor selections and 401(k) contribution percentage.  If not, make changes to your vendor selections and/or your 401(k) contribution percentage on Student Home>Vendor Selections.
  5. Make sure you save a copy of your CFS as you will be using it throughout the game to manage your daily inflow and outflow of cash and to reconcile your CFS with your checking account.

READ THIS:

Adjusting your Net Pay

  1. After building your budget you may determine you need to change your net pay. If the simulation has not started you can change your selected contribution percentage on the Vendor Selections> Job tab. If the simulation has started you can change your contribution percentage on the Employer page.
  2. Changes to 401(k) contribution percentage must be made at least one day (Wednesday) prior to the next scheduled paycheck (Thursday) before midnight EST. You cannot change a contribution percentage on the day that a paycheck is issued. Changes cannot be made to the 401(k) contribution % after the final paycheck in the simulation.
  3. Remember the goal is to save enough in your 401(k) in the first 4 pay period to achieve the “Retirement Savings” goal and earn the trophy and still have enough net pay direct deposited into your checking account that you can use to establish and maintain a $500 emergency fund (by the 11th day), pay off the credit card balance (by the second statement), pay down your student loan debt (extra $500 by the end of the game), and pay all bills on time and in full (first 20 days and rest of the simulation), while maintaining good credit health (don’t carry a credit card balance and avoid fees and penalties).
  4. The Payroll Calculator on the Vendor Selections>Job tab displays the net pay schedule as it relates to your 401(k) contribution percentage displaying the amount of payroll deductions resulting in your bi-weekly net pay in the far right-hand column.

WATCH THIS VIDEO ABOUT USING THE CFS & MAINTAINING YOUR CFS: https://screencast-o-matic.com/watch/cqnh2535xx

Using the CFS

Maintaining your CFS

  1. During the Budget Challenge® game, use the CFS as a tool for tracking your available checking account balance and reconciling your CFS to your bank account activity on a regular basis to your monthly bank statement both on the Bankpage. Knowing your available cash balance will help you to pay your bills on time without incurring costly fees (such as NSF, returned check, overdraft, and late fees).
  2. Once the game begins and transactions are occurring make sure to update your “projected” budget with the real-time transactions as they occur. Your plan is an estimate and there will be differences between your “plan” and the transactions as recorded in your bank activity. By keeping your CFS up to date you will know your true available checking account balance. This allows you to project future cash flows and to use your CFS as a tool to help achieve all six key financial goals.
    Reconcile your bank account often. The “Checking Acct Balance” column on the CFS should match the “Current Balance” in the right-hand column of the bank activity table on the Bank page for the same date. If the balance per the CFS on a particular date matches the balance per the bank activity table or bank statement for the same date, then the account is in balance and the reconciliation is complete.

Projecting Future Cash Flows

The CFS is a unique tool that lets you not only track your daily inflows and outflows of cash and reconcile your checking account but to build a future plan to manage cash flow and achieve financial goals. Using an accurate and reconciled CFS you can project future cash flows and manage your projected checking account balance.

  • Future vendor checks based on contracts found on Student Home>Vendor Selections
  • Transfers to savings
  • Credit card payment amounts
  • Anticipated changes in net pay (based on 401(k) contribution %)
  • Bank fees (vary by bank account option)

WATCH THIS VIDEO ABOUT THE GAME & HOW IT ENDS: https://screencast-o-matic.com/watch/cqnho235ay

Curriculum & Quizzes

Check the collapsed view of the Written Test on the Road Map for “Take Action” alerts for outstanding quizzes.

There are 1-2 curriculum topics for each week. Each curriculum topic includes a video introduction, reading material, a glossary, and wrap-up video. For some topics, additional resources are available. It is important that you complete the provided curriculum not only to perform well on the quizzes but to build the knowledge needed to be successful in your financial life.
The posted open dates for quizzes are Eastern Standard Time. Once the quiz opens it will remain open until taken or until the end of the game.
With a quiz module open you can review the reading material for the unit to help answer the quiz questions by clicking on a keyword for additional information on the topic and linking back to the reading material.
You may view a quiz multiple times but may only submit answers once. The quiz is not submitted until you verify your submission by clicking “Submit”. Once, submitted the quiz cannot be re-opened and the grade for that quiz is locked in.  Each quiz has 10 questions and is worth 10 points.  Quiz results are processed overnight and are reflected in your average quiz score in the written test section of the Dashboard the following day. Once a quiz has been submitted the button in the written test section of the Dashboard will no longer be visible.

To pass the written test you must have an average quiz score of 80%.

Rank and Stats

Points

Points in the game are a measure of performance which evaluates skill in the practical application of personal finance concepts. The score illustrates the importance of balancing current and future cash needs, timely bill payments and resourcefulness in the application of financial concepts.

Your points earned are used for ranking you in your class.  Points are updated each night and are visible the next day in the Rank and Stats section of the Dashboard.

Paying bills on time is expected per the terms and conditions in the contracts with each vendor. Failure to pay bills on time results in penalties and fees which increase transaction costs. You do not receive points for keeping money in your checking account. The 401(k) contributions can only be made via paycheck deduction and once deposited cannot be withdrawn.  Fees and penalties are deducted from your points on the date incurred.

You receive points for each trophy earned.  For details on how to earn each trophy and the number of points earned visit the Road Test section on the Dashboard. Trophy points are awarded when earned except for the Debt Reduction trophy which awards its points as a bonus at the end of the simulation.

Top performers will earn the Victory Lane Certificate.  This well-earned certificate indicates the participant passed the Road Test, Written Test, and finished the game with at least 10,000 points.

Where to get help

During registration, you have access to videos, resources and the Help Desk for assistance and the Quick Tips page for step-by-step instructions for routine tasks and navigating the game found on Vendor Selections.
Once the simulation starts, you will gain access to vendor pages with FAQs at the bottom of each page for answers to vendor specific questions.
Our Help Desk is staffed with live Customer Service agents available to answer questions during registration and during the game. You can submit questions at Student Home>Help Desk. Please note that your teacher or program facilitator will be carbon copied on the email response and will have visibility into the initial question asked. A turnaround time of one business day can be expected, although it may be longer in times of high volume or if complex research is involved. Courteous, professional emails are appreciated.

Simulation End

Post-Simulation Knowledge Assessment

The Post-Simulation Knowledge Assessment opens with one week of the game remaining. The assessment is open for 7 days. All units remain open during the assessment.  Like a quiz, the exam is not submitted until you click “Submit”, locking in your score, and once submitted cannot be re-opened. The exam must be submitted by 11:55 PM EST on the last day of the simulation.

How to Pass

Passing the Road Test

In order to pass the Road Test, you must demonstrate proficiency (receive the trophy) for 5 out of the 6 key financial goals.

Passing the Written Test

In order to pass the written test, you must achieve an 80% quiz average on all quizzes and Post-Simulation Knowledge Assessment.

Certificates

At the end of the 10 weeks, you will be awarded one of 3 certificates based on your performance on the Road Test and the written test. Your certificate is available for printing on Student Home > Certificates of Completion the morning after the final day of the simulation.

  • Passed the Road Test – Earned a minimum of 5 out of 6 trophies
  • Passed the Written Test – Scored a minimum quiz average of 80%
  • Passed the Road Test and the Written Test and scored 10,000 points – Victory Lane

Simulation Survey

We value feedback from our participants.  At the end of the simulation, you will receive an email with a link to a quick survey. Please take the time to provide your insight and share your experience with the program.   We use feedback from facilitators and participants to improve our program every year.

Wrap Up Video

WATCH THIS VIDEO TO SEE HOW TO PAY A BILL & RECONCILE YOUR CFS: https://screencast-o-matic.com/watch/cqnlI53Mxz WATCH THIS VIDEO ABOUT TODAY’S LESSON: https://screencast-o-matic.com/watch/cqnQbm3dmL READ THROUGH ALL OF THIS; HOWEVER, THE ITEMS IN BOLD MUST BE DONE FOR A GRADE Pit Stop Summary: Thoroughly reviewing bills each month is recommended during the Budget Challenge® . Students should verify bills are accurate per the contract terms. Some bills have a fixed payment amount and/or a fixed frequency. Other bills are variable like credit card and utility bills. Understanding the timing between statement dates, due dates and payday is vital in creating a budget and paying bills on time.

PRACTICING NAVIGATION TIP #1: In the game and in life, students should strive to pay bills on time. It is important to review invoices each month to ensure payments made are reflected in the account activity and unwarranted charges/fees have not been applied.

PRACTICING NAVIGATION TIP #2: In the Budget Challenge, three out of four bank account options offer Over Draft Protection(ODP). Students should research their situation to determine if they plan to use ODP or if they could lower the cost and/or restrictions of their bank account by not choosing ODP. Students can change their bank account type throughout the challenge to meet their banking needs at Student Home→Bank.

PRACTICING NAVIGATION TIP #3: Customer Service agents are available to answer student questions or assist students disputing a charge/fee. Students can submit questions at Student Home>Help Desk. Please note that teachers will be carbon copied on the email response and will have visibility into the initial question asked. A turnaround time of one business day can be expected, although it may be longer in times of high volume or if complex research is involved. Courteous, professional emails are appreciated. Each student may request a single, one-time courtesy late fee waiver during the simulation.

Terminology Tune-Up:

  1. Invoice – A bill or statement of charges.
  2. Due Date – Date a payment must be received by the vendor to be considered on time.
  3. Statement date or Cycle Day – Date an invoice is issued.
  4. Current Bill Amount – Total of all new charges.
  5. Total Amount Due – Amount to be paid by the due date.
  6. New Charges – List of items and amounts billed for this billing period.
  7. Credits and Adjustments – Money credited to an account this period due to bill overpayment or refunds.

RIGHT NOW:

  1. Open this handout. Follow the step-by-step instructions and answer the questions at the end in your Word Online file for this class: https://www.budgetchallenge.com/Portals/0/Documents/RoadMap/Week1/W1_B_Test%20Drive_Reading%20Invoices.pdf
  2. Open this handout and follow the step-by-step instructions–https://www.budgetchallenge.com/Portals/0/Documents/RoadMap/Week1/W1_A_Test%20Drive_Using%20Student%20Accounts.pdf
  3. Here is the Quick Tips Handout–https://www.budgetchallenge.com/Portals/0/Documents/RoadMap/Week1/BC_Student_quick_tips_2015.pdf

The goal of the simulation is for students to learn personal finance is about priorities and trade-offs. The simulation scoring and metrics encourage positive behaviors and discourage counterproductive behaviors. Student priorities:

  1. Pay bills on-time.
  2. Minimize fees.
  3. Prepare for unexpected events.
  4. Manage a credit card balance
  5. Maximize retirement savings into 401(k).
  6. Maintain a Budget and Cash Flow Spreadsheet, or comparable tool to track income and expenses. Reconcile the tracking tool regularly.
  7. Research quiz topics independently.
  8. Ask questions when they do not understand or need help.

The best way to learn personal finance is through experiencing it first-hand. This simulation immerses students into financial life as an adult, so they can go through the actions of paying bills, saving for, retirement and dealing with unexpected events while having a teacher to support them through the process. It is important that students make their own decisions, and even make mistakes, in the simulation to learn personal finance lessons. Encourage discussion, but insist on individual play. Each student must maintain their own Budget and Cash Flow Spreadsheet, pay their own bills, determine their own 401(k) contribution percent, take their own quizzes/surveys, and submit their own Help Desk tickets.

How to Play

...

Once the simulation begins, students will be immersed into the financial life of a college graduate. They will begin to receive and pay bills, maintain their CFS, and monitor and manage their credit card balance. To avoid paying bills late, students will need to stay engaged, plan and execute a budget. Students can take advantage of the Mobile Bill Pay App provided for both iOS and Android devices. Some tasks are better performed on the website so the app is primarily for paying bills. Students can access the App at Bank>Bill Payer App from budgetchallenge.com or by going to the App Store or Google Play and searching “Budget Challenge.” Students will learn through the process of researching and answering quiz questions, using provided resources, and through interacting with customer service through the Help Desk. Each help desk ticket receives an individual response on which the teacher is carbon copied.

In the simulation, trophies are awarded for the accomplishment of financial goals. To pass the Road Test you must earn 5 of the 6 trophies to demonstrate your ability to achieve adult-level financial goals in real-time. Full details for how to earn each trophy are posted in the Road Test section of the Dashboard. Below is a summary:

  1. Each goal, by itself, is fairly simple to achieve. The Road Test becomes more challenging when multiple goals are added to the responsibilities of a typical household budget.  Just keeping track of monthly bills and pay dates can be difficult to manage. So, when this is combined with multiple financial goals in the Road Test, it is essential to get organized and make a plan before the simulation begins.
  2. Once the simulation begins, you will be immersed in the financial life of a working adult. To avoid paying bills late and achieve the 6 key goals, you will need to stay engaged and execute your budget. In the game and in life, you should strive to pay bills on time. It is important to review invoices each month to ensure payments made are reflected in the vendor account activity and unwarranted charges/fees have not been applied to your account.
  3. You will receive invoice notifications via email and Dashboard Alert. For quick action steps or what to do next review the “Take Action” section of the Dashboard to view and click on the “Vendor with Outstanding Balances” link to view the vendor page, vendor activity, and invoice.
  4. If the funds are available issue a payment by processing an online check on the Bank page.
  5. There is a 2-day processing window built into the system for creating checks. This represents the time it would take the bank to create and mail the check (or send it electronically) as well as the time for the recipient of the check to get the check and process it. This 2-day processing window is enforced within Budget Challenge by blocking out today’s date and tomorrow’s date at the time when you create the check. So for example, a check created today can have a delivery date that 2 days out in the future. Today’s date and tomorrow’s date are not able to be selected. Sundays and federal holidays are also blocked out. As long as you can select a date using the calendar icon, the delivery of your check is guaranteed by that date.
  6. The date you select on the calendar is the date the funds will be debited from your checking account and applied to the vendor invoice balance.  Then record the pending check-in your CFS on the date the check is scheduled to clear. Recording a check in your CFS does not issue the check to the vendor.  Checks are issued on the Bank page.  Ensure you have the funds to pay your bills on time by maintaining your CFS and regularly reconciling it with your checking account.
  7. Mistakes happen. If you pay the wrong vendor or overpay a vendor, you can request a refund in the action column of the vendor activity table on the vendor’s page by clicking the orange “Get Refund” button. The money will be refunded to your checking account overnight.
  8. Like in real life, in the game paying a bill late has consequences. The Perfect Pay goal is broken out into two trophies, perfect pay for the first 20 days and the rest of the game, each worth 500 points.  If you pay a bill late you will lose the Perfect Pay trophy and the 500 points. In addition to losing the trophy, when you pay a bill late, you incur fees (charged by your vendor and added to your vendor account balance) and penalties (affecting your point total) the first day a bill is late. If the bill is more than one day outstanding you will incur daily late fee penalties.
  9. If you pay a bill late in the game, you may be eligible for the one-time late fee waiver. To be eligible, the account with the late fee must be in good standing (current and not over the credit limit), you have paid the bill in full including any returned check fee (the check has cleared and is not pending), and you have not already received your one-time waiver.  Once you have requested a waiver from a vendor, you are unable to request an additional waiver from any other vendor during the simulation.
  10. If the waiver is available a blue “Get Waiver” button will appear in the action column of the vendor activity table on the vendor’s page. Requesting a waiver results in:
    1. a credit to the vendor account for the amount of the vendor late fee.
    2. a return of the vendor late fee penalty points.
    3. a return of 75 of the initial 150 point late fee penalty points.
    4. reopen the perfect pay trophy (if that was your only late fee and the waiver was applied before the trophy closed)
  11. Early in the game establish an emergency fund by transferring money from your checking to your savings account. Keep your savings account balance at $500 by the 11th day in the simulation and maintain a minimum of $500 for the rest of the game and earn the Emergency Fund trophy and the 500 points.
  12. If you incur 1,000 daily late fee penalties or more you will lose your Credit Health trophy and the 1,000 points.
  13. The Surge Credit card invoice is one of the first invoices you will receive in the game. You start the simulation with a small credit card balances and the daily credit card charges will start immediately.  The daily credit card charges in the game average between $500 and $750 per month.  These charges represent the “life” expenses that your character incurs during the game, so you are not blindsided by spending we show 10 days of pending credit card charges on Vendors>Credit Card. Pending charges will post the next day. The charges may not be charges you would choose in real life but they are representative of monthly average spending and are the same for all participants in the game.
  14. Use this credit card data and your Budget and Cash Flow spreadsheet (CFS) to determine how much and when you can pay on your credit card to earn the Credit Management trophy and the 1,000 points. Remember to pay at least the minimum balance of $15 between the day after the bill is issued the date it is due plus any grace period and you can make more than one payment to your credit card per month.  Carrying a balance could lead to finance fees and utilization penalties. Carrying a balance could lead to finance fees, exceeding your credit limit, or incurring credit utilization penalties. To understand more about Credit Utilization, View the “Understanding Credit Utilization”  video on Vendors>Credit Card. The daily charges are the same for all participants in the game and will continue even if you are over your credit limit. Your management of your credit card affects three goals in the game:  Perfect Pay (you have to pay your credit card bill on time, every time), Credit Card Management (you have to pay off your second credit card invoice), and Credit Health (you have to stay under 100 credit utilization penalty points for the entire game).
  15. In the simulation, you are actively making payments on an auto loan and a student loan. Like most lenders, installment loan payments must be received between the day after the invoice is issued and on or before the due date (with grace period) to be applied to the billing period.  View the “Understanding Installment Loans”  video on Vendors>Auto Loan and Vendors>Student Loan for an explanation of the nuances of installment loan payment timing and billing cycles to ensure your payments are correctly applied in the game. In real life, you need to know the interest rates on your loans and pay off the loan with the highest finance cost first.  In the simulation, the student loan has a higher interest rate than the auto loan. Remember to pay an extra $500 toward your student loan during the game to earn the Debt Reduction trophy and 1,000 points.  Making an extra payment to your student loan will be one of the last goals you earn in the game.  If you pay too much on your student loan early in the game, take advantage of the “Apply to Next Invoice” button, next to your extra payment(s) on the Riptide activity table.  In order to earn the Debt Reduction Trophy, you must have paid a total of $500 extra on your student loan during the game. Suburban Bank offers a Bill Payer app.  For information on downloading the app go to Bank>Get Mobile App.

Dashboard

  1. The collapsed view of the Dashboard shows your current Road Test Score and your written test percentage in the form of your quiz average. With a countdown of days remaining and “Take Action” tasks the Dashboard makes navigating the game easy.
  2. The Road Test “Take Action” section includes the link “Vendors with Outstanding Balance”. Click the link to see a listing of those vendors and to navigate to the vendor page. There you will see a detailed activity table and buttons for invoices.  Before issuing a check review the “Take Action” link for “Pending Checks” to verify you have checks issued for the correct amount to the correct vendor to pay the outstanding invoice.  You can also view an invoice on the vendor’s page by hovering over Vendor on the main menu and selecting the appropriate vendor service.
  3. Click “View Details” under the Road Test section for details on each of the six key financial goals and under the written test section for weekly unit material with a button to open the weekly quiz(zes) along with resources to navigate the game.
  4. All participants start the game with good credit health (zero penalty points and zero credit utilization points) and the credit health trophy. It is yours to keep unless you incur 1,000 daily late fee penalty points OR 100 credit utilization points. If you go above the point limits, you lose the trophy and cannot get it back.
  5. The goals on the Dashboard are in order by days remaining. The first goal to close is the Establish Emergency Fund goal. The Emergency Fund trophy is earned if by the 11th day of the game your savings account has a balance of at least $500 and maintain a minimum of $500 for the entire game. The row color for the Credit Health trophy is yellow because it has been earned, but can be lost during the game.

How to know the status of a goal/trophy

The participant’s dashboard below displays road test results as of day 13. The Emergency Fund goal has closed (closes on day 11) and they did not earn the trophy; therefore, the row is shaded grey.  Like all participants, they started the game with the Credit Health trophy and have not incurred either 100 credit utilization points or 1,000 daily penalty points,  so the goal remains open and earned but eligible to be lost and therefore shaded yellow.

The Dashboard below shows a participant at the end of the simulation with 5 green shaded rows for trophies earned (4.5/6 trophies). The green shading indicates that at least .5 of the goal or perfect pay trophy I (500 points) was earned for that goal. The Perfect Pay goal is shaded green because they only met the requirements for the first half (first 20 days) of the goal and not the second half (21 days to the end of the simulation).  As a result, only .5 of the trophy was earned.

The details section for each goal includes helpful links, resources, and videos to help you understand the goal and how to earn and keep each trophy and earn the trophy points.

Fill in CFS with all budgeted amounts–show Mrs. Weber when it is completed. Watch these videos to help you:

  1. WATCH THIS VIDEO TO HELP YOU SELECT YOUR APARTMENT & CAR LOAN: https://screencast-o-matic.com/watch/cqVTrU3Ul9
  2. WATCH THIS VIDEO TO HELP YOU SELECT AUTO INSURANCE, CABLE & CELL PHONE: https://screencast-o-matic.com/watch/cqVT3V3Uo2
  3. WATCH THIS VIDEO TO HELP YOU SELECT CREDIT CARD, UTILITIES, RENTER INSURANCE, & STUDENT LOAN: https://screencast-o-matic.com/watch/cqVT343UFj

WATCH THIS LESSON OVERVIEW VIDEO FIRST TODAY: https://screencast-o-matic.com/watch/cqnQFd3dKY

READ THROUGH THE ENTIRE LESSON; HOWEVER, THE ITEMS IN BOLD ARE FOR A GRADE!!

LEARNING TO RECONCILE

Pit Stop Summary: In an age of online banking and smartphone apps, many consumers no longer bother to balance or reconcile their checking account. The purpose of this Pit Stop is to provide teachers with general guidelines to pass along to students regarding how and why to actively manage their bank account.

During the Budget Challenge® simulation, students should use
the CFS (Cash Flow Spreadsheet) not only as a planning tool for building a
budget but also as a tool for reconciling their CFS to their bank account
activity on a regular basis. Knowing their “available cash balance” will help
students pay their bills on time without incurring costly fees (such as NSF,
Returned Check, and Late Fees).

Terminology Tune-Up:

  1. Balancing: The process of deducting all withdrawals from the beginning balance plus all deposits. 
  2. Bank reconciliation: The process that explains the dollar difference between the bank balance and the corresponding amount in the account holder’s records at a particular point in time.

NAVIGATION TIP #1: Calculating your check register “CFS” Ending Bank Balance.
Once students have entered the beginning balance and all the transactions, the CFS will automatically calculate the “Ending Bank Account Balance” in the yellow column O.

NAVIGATION TIP #2: Reconciliation outages

  1. Reconciliation brings one account balance (the balance per the CFS) in line with another account balance (the balance per the bank).
  2. If the balance per the CFS on a particular day matches the balance per the bank activity table or bank statement for that day, then the account is in balance and the reconciliation is complete. 
  3. If there is a difference, or an “outage”, the student will need to
    review the (deposits and withdrawals) entered into their CFS to the
    transactions (Debits and Credits) posted to their bank account and
    recorded in the bank activity table (found at Student Home>Bank).
    Once all of the activity has been reviewed, outages identified, and the
    CFS updated as needed, and the checking account balance (yellow
    column O) matches the bank account balance for that date, the bank
    reconciliation is complete.
  4. Students should write the Help Desk if they find a mistake at the
    bank or another vendor.
  5. Common outages in Budget Challenge include: bank fees charged by
    the bank and duplicate checks entered on the CFS.

NAVIGATION TIP #3: Keeping the check register, CFS, up to date.

  1. In Budget Challenge, when kept up to date, the CFS helps keep a
    running total (or cash flow) of the bank account balance and helps
    avoid overdrafts.
  2. Balancing and reconciling a bank account is needed when students neglect to record transactions regularly.
  3. Keeping the CFS up to date with pending check,fees and anticipated deposits allows students to manage their cash flow effectively.
  4. By utilizing the Pending Checks Queue (found at Student
    Home>Bank), students can verify their CFS includes all issued checks
    on the date they will clear.
  5. Students can also use the CFS as a budgeting tool by entering all
    their future planned payments on the date they plan to make the
    payment.

DID YOU KNOW?
If an unauthorized check was written on your account notify your bank
immediately. If you identify it timely and communicate it to you financial
institution, you may be protected under federal law.

RIGHT NOW:

  1. WATCH THIS VIDEO ON RECONCILING: https://screencast-o-matic.com/watch/cqnQbj3dEW
  2. SHOW ME YOUR RECONCILED CFS
  3. WATCH AND DO THIS VIDEO ON RECONCILING: https://screencast-o-matic.com/watch/cqnlI53Mxz
  4. Check your email & pay bills if necessary.
  5. Go to your written quizzes on the Student Home page
  6. Click the UNIT MATERIAL for the Getting Started quiz
  7. Read the text, watch the videos, etc. LEARN so you can take the quiz
  8. When you take the quiz remember to use the Unit Material to answer the questions

DO THIS SECOND TODAY: WATCH THIS VIDEO–FIRST RECONCILIATION AFTER BANK STATEMENT RECONCILIATION INCLUDES SECURITY DEPOSIT REFUND: https://screencast-o-matic.com/watch/cqnDoq3RJ8

DO THIS THIRD TODAY: RIGHT NOW & EVERYDAY DURING THE BUDGET CHALLENGE:

  1. Reconcile your CFS to your Bank Activity–SHOW ME!!
  2. Check you credit card balance–make a payment if you can
  3. Check your trophy status–do what you can to achieve a trophy
  4. On the Student Home click the VIEW DETAILS for the Written Tests
  5. Scroll down to the Getting Started quiz.
  6. Click UNIT MATERIAL–watch the videos & read
  7. Take the quiz–use the Unit Material to help you answer the questions correctly.