creating your own presented by the school district of la crosse

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CREATING YOUR OWN

PRESENTED BY THE SCHOOL DISTRICT OF LA CROSSEAnnette O’Hern

Dorothy HartTrish Bekkum

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Agenda• Introduction/History/Overview• Financial Standards• Purpose of the Reality Store• Classroom Preparation• Behind the Scenes

BREAK• Brainstorm• Experience the Reality Store• Classroom Follow-up• Budget & Logistics• Business Connections• Questions & Answers• Wrap Up

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Personal Financial Literacy Standards

• A. Relating Income & Education– A.1—Understand how career, choice,

education, skills, entrepreneurship, and economic conditions affect income

– A.3-Explain how income affects lifestyle choices and spending decisions

– A.4—Explain how taxes and employee benefits related to disposable income

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Personal Financial Literacy Standards

• B. Money Management– B.1—Demonstrate ability to use

money management skills and strategies

– B.2—Understand the purposes and services of financial institutions

– B.3—Develop a financial vision based on an examination of personal values.

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Personal Financial Literacy Standards

• C. Credit and Debt Management– C.5—Calculate the cost of

borrowing

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Personal Financial Literacy Standards

• D. Planning, Saving, and Investing– D.1—Apply strategies for creating

wealth/building assets– D.2—Demonstrate ability to use

decision-making processes in making financial decisions related to planning, saving, and investing

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Personal Financial Literacy Standards

• E. Becoming a Critical Consumer– E.1—Understand the impact of

contextual factors associated with consumer decision making. (e.g., social, historical, political, family, cultural, philosophical)

– E.6—Examine critically the impact of socio-cultural norms and demographics related to money, saving, and spending

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Personal Financial Literacy Standards

• F. Community and Financial Responsibility– F.1—Understand factors that affect citizen

financial decisions and actions– F.2—Practice skills related to fiscal

responsibility and personal decision making– F.3—Integrate and apply financial

knowledge, attitudes, and skills– F.4—Understand the interdependent role of

government, business, consumer, and personal finance in the economy

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Personal Financial Literacy Standards

• G. Risk Management– G.1—Understand the nature of

personal financial risk and the importance of protecting against financial loss

– G.2--Examine the need for and value of various types of insurance within the life cycle

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Classroom Preparation

• Career Planning– Personality assessment– Career Cruising

http://www.careercruising.com/

– Educational paths– Salary – Career prep

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Registering Students

• Student profile mentoring– Profession– Salary

• Family Status • Random marital status• Random dependents• Divorce/support payments

• Register online

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Dress Rehearsal

• Check Book– Financial

Involvement

• Reality Walk Through

• Business Attire• Supplies

– Calculator– Writing Utensil

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Behind The Scenes

• Name• Teacher• Occupation• Salary• Pet Owner• Years of

Education

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EXCEL Spreadsheet With

Student Information• Student name• Teacher name• Occupation/monthly

salary• Marital status• Spouse occupation/salary

• Age/Gender Children• Pets• Student loan payment

(combined spouses)• Child Support – paid or collected• Malpractice Insurance

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Student Paycheck

• Gross Income - Spouses combined

• Malpractice Insurance

• Child Support• Student Loan

– Spouses combined

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Life Status

• Occupation• Marital Status• Spouse Occupation• Dependent Age/Gender• Pets• Salaries for student &

Spouse• Student loan information

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Student Worksheets

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Worksheets Continued

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Brainstorm Time!

• What bills/payments are you responsible for every single month?

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La Crosse Reality Store Booths

• Auto Sales• Auto/Home

Insurance• Financial• Big Toys• Charitable

Contributions• Childcare• Clothing• Convenience Store• Dining Out• Energy Booth• Entertainment

Cashier• Exit

• Family Activities• Fate• Government &

County• Groceries• Housing Own/Rent• Insurance Cashier• Investments• Life Insurance• Medical Insurance• Vision Insurance• Dental Insurance• Memberships

• Part-Time Jobs• Personal &

Household Products

• Pets• Phone/Cable• Police Officer• Roaming Nurse• Travel• Uncle Sam• You’re Invited

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Booth Descriptions

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Experience the Reality Store!

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Classroom Follow-up• Debriefing

– Considering your expenses and pay, would you consider choosing a different occupation? Why or Why Not?

– What were three things that you learned (liked) about this experience?

– What did you the most “eye opening” about this simulation?

– Were there any areas you would have like to have spent money on but couldn’t afford to? (travel, insurance, investing, etc.)

– Please evaluate your experience at the Reality Store. Discuss how you felt in certain situations. (for example, when taxes were taken out of your paycheck.) Did you ever feel overwhelmed or stressed about paying all of your bills? Was there a feeling of accomplishment when you were completed?

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Assessment

• Dress• Checkbook• Worksheets• Simulation Worksheet

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Brainstorm Time!

• Leisure & Entertainment– You’re Invited!– Family Activities

• Fate• Nurse• Pets• Charitable Contributions

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Logistics & Budget

• Where will the event be held?• When will the event be held?• Who will attend…what classes?• Who is your planning

committee?• What initial expenses will be

incurred?

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Initial Expenses

• Planning time• Clipboards• Signage• Memo holders• Staplers• Calculators

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Ongoing Expenses

• Transportation• Printing and copying• Name tags• Substitutes• Refreshments• Lunch

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Funding Sources

• Tech Prep mini grants if available

• Carl Perkins• District dollars• Business donations• Other grants

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Behind the Scenes with Volunteers

• Recruiting new volunteers• Volunteer reply forms• Training volunteers• Surveys• Thank you

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Planning Time

• Planning committee responsibilities

• Business connections

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It’s a Wrap!

• Questions?