NGPF Activity Bank - 2020-21Mr. Marynovskyy - Mr ...
`NGPF Activity BankBudgetingPLAY: The Bean GameEach day we make choices based on what we value as important by assessing whether our time, energy, and money is worth it. This game, adapted from 20 Bean Salary, will help you discover what is most important to you to spend money on and how your personal experiences and values affect your money management decisions.BEAN MAP [CLICK HERE TO IMPLEMENT VIRTUALLY INSTEAD]?Housing?FoodLiving with relatives sharing cost of utilitiesLiving with family, sharing cost of utilitiesCook at home; dinner out once a weekCook at home; dinner out once a weekShare an apartment or house with roommatesShare an apartment or house with roommatesFrequent fast food lunches and weekly dinner outFrequent fast food lunches and weekly dinner outRent your own placeRent your own placeAll meals away from homeAll meals away from home?Insurance?ClothingAutoNo coverage (ONLY if select no car below)No costClothingWear present wardrobeNo costLiability coverage onlyShop at discount or thrift storesComprehensive coverageShop for new clothesHealth and DisabilityNo coverageNo costShop for designer clothesBasic health coverageLaundryDo laundry at parents’ houseNo costPropertyNo coverageNo costUse laundromat; some dry cleaningRenters insuranceRent or purchase washer and dryer?TransportationRecreationWalk or bikeNo costHiking, hanging out with friends, scrolling your phoneNo costRide bus or join carpoolStreaming service for music, TV, moviesBuy fuel for family carMovie theaters, gym membership, clubs or hobby groupsBuy a used car and gasConcerts, sporting eventsBuy new car and gasBig vacations?FurnishingsCommunicationSecond-hand from relatives or friendsNo costNo phoneNo costBuy at a garage sale, thrift shop, or used onlinePhone with limited dataRent furniture or live in furnished apartmentPhone with unlimited dataBuy new furnitureWifi at your homePersonal CareGiftsBasic products: soap, shampoo, toothpaste, make-up, etc.Make your ownOccasional professional haircuts, basic personal care productsPurchase cards or small gifts occasionallyRegular hairstyling, nails, name brand personal care productsPurchase frequent gifts for family and friendsContributions to charities and/or religious groupsSavingsKeep cash in a piggy bank at homeNo cost5% of income10% of incomeInvest for retirementDirections: Use your Bean Virtual Excel SpreadsheetPart I: Round One Discussion QuestionsExplain the reasoning behind how you spent your 20 bean income. Take a moment to think about your values around money. Then, look at the top three to four categories where you are spending most of your beans. How do these choices reflect your values around money?Compare what you spent your beans on with another student in your group. What similarities and differences did you notice? SimilaritiesDifferencesPart II: Round Two Discussion QuestionsThink about how you chose to remove the 7 beans. What tradeoffs did you have to make? How did you decide which categories to cut down on?What did you learn about yourself and your values around money through the process of cutting down your budget?Compare your budget-cutting choices with another student in your group. What similarities and differences did you notice? SimilaritiesDifferencesPart III: ReflectionDid the cost of any of the categories and options surprise you? Which ones and why?What previous experiences in your life influenced how you would allocate your beans across your budget?What 3 main takeaways did you learn from this activity to help you create strong, realistic budgets for yourself in the future? ................
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