Life Skills

Outschool Budget Challenge Game (Simulated Real World Money Management)

In this 13 week simulation, students will have a job, insurance, bank account, and expenses both expected and unexpected. Learn to Manage your Money. Failing to plan is planning to fail! Road Test your readiness for real life now!
1 total review for this teacher
1 review for this class
Completed by 5 learners
  There are no upcoming classes.
Class

55 minutes

per class

Once per week

over 15 weeks

15-18

year olds

3-6

learners per class

per learner - per class

How does aMulti-Daycourse work?

Meets multiple times at scheduled times
Live video chats, recorded and monitored for safety and quality
Discussions via classroom forum and private messages with the teacher
Great for engaging projects and interacting with diverse classmates from other states and countries

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Description

Class Experience

Students will spend 10 weeks in a real-timed simulation, handling their financial matters and learning about personal finance.
Students receive bills from vendors they've selected with due dates.  Failure to pay in full and on-time results in late fees and penalty points assessed.
Students select a checking account, manage the account, and pay fees and receive penalty points for overdrawing the account.
Students earn points and a trophy if they can actually transfer $500 to set up an emergency fund in the first eleven days of the simulation.
Students make 401(k) selections and decide how much of their paycheck to invest in their retirement account.
Students are required to manage credit card utilization and pay off the entire balance in order to earn a trophy.
Students choose renter's insurance and auto insurance policies with different deductibles and deal with unexpected insured events.
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Week 1.		Getting Ready
Week 2.		Buckle Up	Getting Started
Week 3.		Unit 1	Banking
Week 4.		Unit 2	Payroll
Week 5.		Unit 3	Retirement Investing
Week 6.		Unexpected Events/Healthcare
Week 7.		Unit 5	Building Credit 
Week 8.		Unit 6	Credit Cards
Week 9.		Unit 7	Data Protection
Week 10.		Unit 8	Investing 
Week 11.		Unit 9	Personal Income Taxes
Week 12.		Unit 10A/B	Loans and Debt
Week 13.		Victory Lane
Week 14.		Next Steps
Week 15.		Paying for College

I have run this BudgetChallenge with brick and mortar high school students since 2009.  In addition, I have worked with students and adults on creating budgets, and planning. No, I am not a financial planner, but I do enjoy seeing students and others gain control of their finances - especially before they lose control in the first place!
Students must create an account on BudgetChallenge, and check their bills and accounts at least 2-3 times weekly. This may take only a few minutes, or some time - just as you, the parents, may take a few minutes on bills weekly, or spend a couple of hours planning.  The amount of attention devoted to financial matters directly reflects on success or failure.
Read the chapter (see course outline) to better understand goals.
 18 files available upon enrollment
You will need to create an account at www.budgetchallenge.com, which will require a $25 registration fee. Your course code is available as soon as you register for this course, and neither your teacher nor Outschool has any benefit or control over this subscription. Several videos are available from Budget Challenge, and the links will be offered during classes. In addition, this Outschool course will include a Financial Literacy textbook from Budget Challenge, which can be downloaded, and printed or saved. • (Financial Literacy Textbook) Chapter 1 — Keys to Financial Success • (Financial Literacy Textbook) Chapter 2 — Playing Budget Challenge • (Financial Literacy Textbook) Chapter 3 — Employment • (Financial Literacy Textbook) Chapter 4 — Banking • (Financial Literacy Textbook) Chapter 5 — Loans and Credit Cards • (Financial Literacy Textbook) Chapter 6 — Saving and Investing • (Financial Literacy Textbook) Chapter 7 — Investing for Retirement • (Financial Literacy Textbook) Chapter 8 — Purchasing and Consumer Protection • (Financial Literacy Textbook) Chapter 9 — Buying or Leasing a Vehicle • (Financial Literacy Textbook) Chapter 10 — Housing • (Financial Literacy Textbook) Chapter 11 — Insurance and Managing Risk - Motor Vehicles and Property • (Financial Literacy Textbook) Chapter 12 — Managing Risk - Health, Life, and Disability • (Financial Literacy Textbook) Chapter 13 — Building and Managing Credit • (Financial Literacy Textbook) Chapter 14 -- Data Security • (Financial Literacy Textbook) Chapter 15 -- Taxes • (Financial Literacy Textbook) Chapter 16 -- Next Steps • (Financial Literacy Textbook) Chapter 17 -- Paying for College
In addition to the Outschool classroom, this class uses:
Student can view their ranking in the class, and their score. This score approximately reflects their status in the real world, with their credit score, if they behaved in the same way. 6 "trophies" can be won for good financial habits, and you must earn 5 of 6 to earn the certificate.
55 minutes per week in class, and an estimated 0 - 1 hours per week outside of class.
Review bill planning, budgets, and financial tools that you use.  Offer your student guidance in real world budgeting. Week by week planning guide included in "Course Outline"
You must create an account on www.budgetchallenge.com.  $25 fee is required, and neither OutSchool nor teacher recieves any benefit, or is able to adjust this fee.  You may also wish to use financial planning materials from your own bank, or from sites listed below.

Teacher

Sarah Beth BenesCareer, Computer, and Business Exploration
1 total review
2 completed classes

About Me

Sarah Beth taught Computer Applications, Business, and Science in Savannah-Chatham County High Schools for 13 years, retiring from Savannah Early College High School.  She has also been an adjunct computer faculty member at Savannah Technical... 
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