Fill - Free fillable Form 59: LifewithSally Part1:LifewithSallyasaHighSchoolStudent TotalPointsEarned Name TotalPointsPossible Date (Mr. Breitsprecher's Business Ed Home Page) PDF form

Page|19

1.11.2.A1



©FamilyEconomics&FinancialEducation–RevisedMay2011–IntroductiontoFinanceUnit–LifeCycleofFinancialPlanning

FundedbyagrantfromTakeChargeAmerica,Inc.totheNortonSchoolofFamilyandConsumerSciencesTakeChargeAmericaInstituteatTheUniversityofArizona



Byeducators…foreducators

LifewithSally



TotalPointsEarned



Name



59

TotalPointsPossible



Date



Percentage



Class



Part1:LifewithSallyasaHighSchoolStudent

Directions:ReadthefollowingscenarioandanswerthequestionsthatfollowtohelpSallydevelopapersonal

financialplan.



SallySmithisa16year‐oldhighschooljunior.Shevaluesherfamilyanddreamsofhavingafamilyofherown.She

isveryfocusedonhavingasuccessful

careerinthefuture.Sallyhasapart‐timejobasalifeguardatthelocalpool.

Shemakes$250permonthatthisjob,andheronlyexpenseispayingforpersonalentertainment,such asgoing

tomovieswithfriends.Shehasnotmadeanyplansforaftershegraduates

highschool,butshehasbeensaving

moneyfromherjobtouseforherundecidedplansaftergradua tion.Sally’smomhashelpedhermanageher

money,andshehasbeenabletosave$1000touseforplansafterhighschool.Sallyenjoysstayingbusy,sosheis

a

memberofherschool’sswimmingteam ,orchestra,andchoir.Sallyenjoysmakingmusicandhasconsidered

beingamusicteacher.However,Sallyalsoenjoystakingwoodworkingclassesandhasconsideredacareerin

woodworkingorcarpentry.



1. WhatarethreeofSally’svaluesthatwillaffectherpersonalfinancialplan?

(3points)



2. WhatstageofthefinanciallifecycleisSallycurrentlyin(stage1:basicwealthprotection,stage2:

wealthaccumulation,orstage3:wealthdistribution)?HowwillthisaffectSally’sfinancialplan?

(2

points)



3. IdentifythreeofSally’scurrentfinanciallifecycleneeds.

(3points)



4. HowdoSally’scurrentfinanciallifecycleneedsaffectherpersonalfinancialplan?

(1point)



Page|20

1.11.2.A1



©FamilyEconomics&FinancialEducation–RevisedMay2011–IntroductiontoFinanceUnit–LifeCycleofFinancialPlanning



Byeducators…foreducators

5. UsetheinformationabovetohelpSallybegindevelopingafinancialplanby writingtwoSMART

financialgoalsforher.

(10points‐5pointsforeachgoal)



a. Goal1



b. Goal2



6. ListaresourcethatisavailabletoSallytohelpherachieveeachofherfinancialgoals.

(2points)



a. ResourceforGoal1



b. ResourceforGoal2



7. WhyisitimportantforSallytostartherfinancialplanningtoday?

(1point)



8. Identifythreepersonalvalues,goals,and/orpersonalchoiceswhichcanaffectahighschoolstudent’s

financialplan.

(3points)



Page|21

1.11.2.A1



©FamilyEconomics&FinancialEducation–RevisedMay2011–IntroductiontoFinanceUnit–LifeCycleofFinancialPlanning



Byeducators…foreducators

Part2:LifewithSallyasaYoungAdult

Directions:Sallyis now23 yearsold.Afterhighschool,shechosetoattendcollegetobecomeamusicteacher.

Sallygraduatedfromcollegelastmonthandhasnowacceptedafull‐timejobastheChoirdirectoratalocalhigh

school.Thepersonalchoicesshemadeduringcollegeare

nowaffectingherfinancialplan.Belowaretwo

scenariosthatreflectthechoicesSallycouldhavema deduringheryearsincolle ge.Readeachscenarioand

answerthequestionsthatfollowtoexaminehowfinancialplanningisinfluencedbypersonalchoices.



Scenario1:

Duringcollege,Sallydecidedtoputall

ofherfocusintoschool.Shedidnothaveapart‐timejob,sosheusedher

studentloansandcreditcardstopayforherlivingexpenses.BythetimeSallygraduatedcollegeshehad avery

largeamountofcreditcarddebtandstudentloansthatshenowhas

topayback.Byonlymakingtheminimum

payments,shecalculatedthatitwilltakehertenyearstopaybackherstudentloansandcreditcarddebt.With

thesalaryfromhernewjobasateacher,shehasnomoneylefttouseforentertainment,savings,orretirement

investingafterherlivingexpenses,studentloans,andcreditcardshavebeenpaidforeachmonth.Sallydecided

totakeasecondjobworkingafeweveningsperweek,soshecanatleasthavesomeextramoneyeverymonthto

useforentertainment.Shehascalculatedthatshewillearn

anextra$200permonththatcanbeusedfor

entertainment,savings,oradditionaldebtrepayment.



9. HaveSally’svaluesandgoalschangedsinceshewas16yearsold?Explain.

(2points)



10. IsSallyinadifferentfinanciallifecyclestageatthispointinherlifethanshewasat16?Ifso,howwill

thisaffectSally’scurrentfinancialplan?

(2points)



11. HaveSally’slifecycleneedschangedsinceshewas16?

(1point)



12. UsetheinformationabovetocreatenewSMARTfinancialgoalsforSallyatthispointinherlife.

(10

points‐5pointsforeachgoal)



a. Goal1



Page|22

1.11.2.A1



©FamilyEconomics&FinancialEducation–RevisedMay2011–IntroductiontoFinanceUnit–LifeCycleofFinancialPlanning



Byeducators…foreducators

b. Goal2



13. HowhasSally’sfinancialplancha ngedsinceshewas16?

(1point)



14. HowhaveSally’spersonalchoicesaffectedherfinancialplan?

(1point)



Scenario2:

Sallyusedthelifeguardingskills she obtainedduringhighschooltogetapart‐timejobattherecreationalcenter

athercollege.Shestartedworkingasalifeguardandwassoonpromotedtoassistantmanagerbecauseofher

workethicandexcellentgradesinhercollege

courses.Asassistantmanageroftherecreationalcenter,Sally

receivedascholarshipeverysemestertohelppayforherschool,andshewasabletograduatewithnostudent

loandebt.Withhernewjobasateacher,sheisabletopayallofherlivingexpenses,aswellas

putmoneyinto

savingsandherretirementplaneverymonth.Shehasgivenherselfabudgetof$100permonthfor

entertainmentandotherpersonalexpenses.



15. HaveSally’svaluesandgoalschangedsinceshewas16yearsold?Explain.

(2points)



16. IsSallyinadifferentfinanciallifecyclestageatthispointinherlifethanshewasat16?Ifso,howwill

thisaffectSally’scurrentfinancialplan?

(2points)



17. HaveSally’slifecycleneedschangedsinceshewas16?

(1point)



Page|23

1.11.2.A1



©FamilyEconomics&FinancialEducation–RevisedMay2011–IntroductiontoFinanceUnit–LifeCycleofFinancialPlanning



Byeducators…foreducators

18. UsetheinformationabovetocreatenewSMARTfinancialgoalsforSallyatthispointinherlife.

(10

points‐5pointsforeachgoal)



a. Goal1



b. Goal2



19. HowhasSally’sfinancialplancha ngedsinceshewas16?

(1point)



20. HowhaveSally’spersonalchoicesaffectedherfinancialplan?

(1point)



Download
Save PDF to desktop

Email
Email completed PDF

Send for Signing
Email for others to sign

Print
Print document

NAME

Form 59: LifewithSally Part1:LifewithSallyasaHighSchoolStudent TotalPointsEarned Name TotalPointsPossible Date (Mr. Breitsprecher's Business Ed Home Page)

View Audit Log
Print With Audit Log
Duplicate Document

Fill Online, Printable, Fillable, Blank Form 59: LifewithSally Part1:LifewithSallyasaHighSchoolStudent TotalPointsEarned Name TotalPointsPossible Date (Mr. Breitsprecher's Business Ed Home Page) Form

Related forms

Fillable Form 59: LifewithSally Part1:LifewithSallyasaHighSchoolStudent TotalPointsEarned Name TotalPointsPossible Date (Mr. Breitsprecher's Business Ed Home Page)

Fill Online, Printable, Fillable, Blank Form 59: LifewithSally Part1:LifewithSallyasaHighSchoolStudent TotalPointsEarned Name TotalPointsPossible Date (Mr. Breitsprecher's Business Ed Home Page) Form

Related forms

First 20 documents completely FREE!