Day 8 (PF)

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

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