The Game of Life - Transportation

The First Steps of Planning Your Dream Life!

Within this e-Learning simulation, you will purchase your first car!!! (And everything that comes with it - insurance, registration, gas, etc). Your goal is to determine the monthly cost to purchase your vehicle.

Complete Each Section IN ORDER to determine your monthly cost of your vehicle.

There will be mini-quizzes along the way. Please draw on your prior knowledge to complete this assignment!

By the time you are finished, you will:

 

Please make sure you also sign up for our group on Edmodo, to further participate with other module participants and to ensure that you have another way access to all documents, and a place to submit them. 

www.edmodo.com

Group Code: 7p6z48

 

Credit

As you learned in Vault, Credit Is: A loan that a person uses to pay for things, but is expected to pay back. Your credit shows how responsible you are with money.

Why is it Important to Build Good Credit: Your credit score shows how responsible you are with your money, and with the money you borrow to make purchases.

How To Get Good Credit At Your Age

Advantages and Disadvantages of Using Credit

Calculate Your Credit Score

Credit Quiz

Why is it important to have good credit?

As credit scores decrease, why do interest rates go up?

If you purchase something with credit, do you pay for it over time?

What are the advantages to having credit? What are the disadvantages of having credit?

  • Buying needed/wanted services& goods using anticipated income
  • Overspending becomes very easy.
  • Financial Trouble
  • Record of Purchases shows responsibility
  • Interest payments

Purchasing Your Dream Vehicle

You are facing your first major purchasing decision! You’re buying your first vehicle! In the attached word document, you will find all of necessary pieces for you to complete in order to figure out how much your dream car will cost monthly.

You have been provided with links to the manufacturers websites, but you are also encouraged to look online for other deals. The only requirement is that you spend over $10,000.00.

Picking Your Dream Car

Vehicle Quiz

Please provide 5 reasons why you selected this specific vehicle. Please use full sentences. You may use some of the examples provided, just be able to justify your answers with an explanation (why?)

Why does owning a car help your credit score?

Car Insurance

Why It's Important to Have Car Insurance

Gas

Gas

Final Check In

What are the benefits to having car insurance? Please list at least three of the ten answers discussed previously. Please use full sentences.

Why is it important to budget for gas?

Which Expenses are Variable expenses?

Final Activity

What Did You Learn?

Now, having learned about your spending habits, what are some of your long term savings goals for the future?

What did you learn about your spending habits while buying a car?