Career Project: Reality Check

 Reality Check Project

PREREQUISITES

1.    You have finished the green level of the board game.
 cash + (savings x 1.1) – (debts x 1.2) = G
2.    You have finished the purple level of the board game.
 cash + (savings x 1.1) – (debts x 1.2) = P
3. Total assets (or debts) carried to the next level = G + P
You may use this money to purchase a car or items for your first apartment.

[‘The Reality Check Game’ is a board game developed by Laurna Ritchie in partnership with Envision Credit Union in Abbotsford, B.C. and is unfortunately no longer available for purchase.]

 PREPARE FOR REAL LIFE

1.    Think of a career you might reasonably have in the future. Write a paragraph explaining why it is possible you might have that job some day.
2.    If your teacher agrees that you have picked a reasonable career, do some research and find out the annual salary for a person starting that career.
3.    Do some more research. Find out what the benefits are in that career. Is there health insurance?  A dental plan? A pension plan?  All of that information will affect your budget.
4.    Collect flyers for grocery stores.
5.    Look in newspapers for advertisements of places to rent.  Find a place you think you could afford.  Give the details.
6.    Look in newspaper for a vehicle. Give the details, including the price. Tell whether you can afford to buy the car outright or will have to make monthly payments.
7.    Complete the sheets for setting up and maintaining a home.
8.    Complete the sheets for setting up a budget.
9.    Play ‘Reality Check’ with your new budget.
10.    Create a booklet or poster showing all you have accomplished and all you have learned.

Reality Check: Setting up a Home

Basic Furnishings
1.    Kitchen
a.    table and chairs _________________________
b.    set of dishes _________________________
c.    set of pots _________________________
d.    set of mixing bowls _________________________
e.    set of cutlery _________________________
f.    set of measuring spoons and cups _________________________
g.    set of basic utensils (spatula, etc) _________________________
h.    dish cloths _________________________
i.    tea towels _________________________
j.    storage containers _________________________
k.    radio _________________________
l.    pictures on walls ________________________
m.    other: _________________________

2.    Living room
a.    couch _________________________
b.    armchairs _________________________
c.    coffee table _________________________
d.    television _________________________
e.    bookshelf _________________________
f.    pictures on walls _________________________
g.    rug _________________________
h.     lamps _________________________
i.    other: _________________________

3.    Bedroom
a.    bed _________________________
b.    dresser or cupboard _________________________
c.    side table _________________________
d.    lamp ________________________
e.    pictures on walls _________________________
f.    rug _________________________
g.    other: _________________________

4.    Bathroom
a.    bath towels _________________________
b.    hand towels ________________________
c.    face cloths_________________________
d.    shower curtain _________________________
e.    floor mat _________________________

5.    Other
a.    door mat _________________________
b.    curtains _________________________

CALCULATE: Total cost of setting up a home  _________________________

Reality Check: Maintaining a Home

Basic Nonfood Supplies (cost ÷ 2 = monthly amount)
1.    shampoo/conditioner _________________________
2.    soap _________________________
3.    dish soap _________________________
4.    household cleaning products _________________________
5.    toilet paper _________________________
6.    laundry soap _________________________
7.    plastic wrap/wax paper/tin foil _________________________
8.    light bulbs _________________________

Basic Food Supplies (cost ÷ 2 = monthly amount)
1.    baking soda (also used for cleaning) _________________________
2.    salt and pepper _________________________
3.    butter/oil _________________________
4.    sugar/honey _________________________
5.    vinegar (also used for cleaning) _________________________
6.    rice/pasta _________________________
7.    crackers _________________________
8.    spices _________________________
9.    other _________________________

Perishable Food Supplies (weekly cost x 4 = monthly amount)
1.    fruit:
a.    __________________
b.    __________________
c.    __________________
2.    vegetables:
a.    _________________________
b.    _________________________
c.    _________________________
d.    _________________________
3.    grains and cereals:
a. _________________________
b. _________________________
4.    dairy:
a.    _________________________
b.    _________________________
5.    meat or meat substitutes:
a.    _________________________
b.    _________________________
6.    treats: (e.g. gum, candy, ice cream, cookies, chips)
a.    _________________________
b.    _________________________

CALCULATION: Total cost per month _________________________

Reality Check: Setting up a Budget

GROSS PAY CHEQUE _________________________

Pay cheque deductions (once per month)
1.    medical _________________________
2.    employment insurance _________________________
3.    income tax _________________________
4.    other _________________________
5.    other _________________________

NET PAY CHEQUE (gross – deductions) _________________________

Insurance (annual amount ÷ 12))
1.    household contents _________________________
2.    car _________________________

Rent and Utilities (once per month)
1.    electricity /heat _________________________
2.    telephone _________________________
3.    cable/internet _________________________
4.    rent _________________________
5.    gas _________________________
6.    car payment _________________________
7.    other _________________________

 Paying off Debt (once a month payment) _________________________
Number of months until your debt is paid: ________

Food and Nonperishable Supplies (once a month)
Amount from ‘Maintaining a Home’ page _________________________

Clothing and Grooming (per month)
1.    haircut _________________________
2.    clothing _________________________

Emergency Account (once a month)
Budget $100 – $300 based on your income _________________________

Saving for the down payment on a house (once a month)
Budget $400 – $1000  based on your income _________________________

Charity (once a month)
Sharing with a good cause: _________________________

CALCULATION: (net pay – outgoing) = _________________________
(This money can be used for entertainment and saving for new possessions)

Entertainment (per month)
1.    restaurants: __________________________
2.    movies/concerts/shows _________________________
3.    holiday (annual cost ÷ 12) _________________________
4.    other: _________________________________

[This page may be copied for use with students if the following credit is provided: ©2012 Sophie Rosen.]

 

 

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