WHAT TO DO DURING THE GAME:

  1. Reconcile daily
  2. Check your email daily for communications from vendors.
  3. Log in every 5 days to stay engaged.
  4. Take ALL quizzes/surveys.
  5. Pay all bills on time.
  6. Stay engaged in your finances by updating and using your CFS and actively managing your 401(k) contribution and your bank account type.

IMPORTANT: At the end of every class, please email me describing how far you got today and what you learned. This will be graded periodically. Use 3-5 sentences.

TODAY:

FINISH

  1. GOAL: Before you leave today you will learn about budgeting & saving.
    1. Click on LESSONS & Open the Lesson 3 Budgeting & Saving handout
      1. PART A:
        1. #1–MAKE SURE YOU DO THIS!!!
        2. #2–from the FILE menu, choose OPEN LESSON, then choose LESSON 3
        3. #3–you will need to calculate:
          1. your MONTHLY GROSS INCOME and then write it in the BUDGETED AMOUNT column on WORKSHEET 1
          2. your LESS 18% DEDUCTION for the MONTH and then write it in the BUDGETED AMOUNT column on WORKSHEET 1
          3. your  MONTHLY NET INCOME (TAKE HOME PAY) and then write it in the BUDGETED AMOUNT column on WORKSHEET 1
        4. #4–read and do it (read the HINT on the right side of your handout) and then in the BUDGETED AMOUNT column on WORKSHEET 1 record:
          1. RENT for the MONTH
          2. ELECTRICITY for the MONTH
          3. RENTERS INSURANCE for the MONTH
        5. #5–read and do it and then in the BUDGETED AMOUNT column on WORKSHEET 1 record:
          1. FOOD for the MONTH
          2. BUS TOKENS for the MONTH
        6. FINISH Worksheet 1 by:
          1. adding up the EXPENSES and writing that answer next to TOTAL EXPENSES on Worksheet 1
          2. calculating SURPLUS (NET INCOME)/DEFICIT (NET LOSS) by doing the following:
            1. MONTHLY NET INCOME – TOTAL EXPENSES
              1. It will be a SURPLUS or NET INCOME if the answer is POSITIVE
              2. It will be a DEFICIT or NET LOSS if the answer if NEGATIVE
        7. #6–Read and do it
        8. #7–Read and do it–These answers need to be recorded in the ACTUAL AMOUNT columns on Worksheet 1
        9. Answer question 2 in a Google Doc shared with me.
      2. PART B:
        1. Answer questions 3-5 in the same Google Doc shared with me.

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