Budgeting, Investing, and Borrowing

Task

We have learned about Budgeting, Investing, and Borrowing.  Now we are going to expand on what we learned.

Process

 

1. Figure out various retirement scenarios based on different income levels and retirement ages. Go to the Retirement Savings Calculator and fill in the blanks to see how your financial security can change based on the various criteria. Try at least five different income amounts to see how age will affect your income after retirement.  Copy down the results of two scenarios.

 

What do these results tell you about retirement? Realistically, what is your target income level and retirement age?

 

 

2. See how much you can save and earn over a lifetime by using the Compound Interest Calculator. Try at least five different scenarios based on various monthly savings amounts and different starting ages. Copy down the results of two scenarios. 

 

What do these results tell you about monthly savings? Realistically, what is your monthly savings goal and target starting age?

 

 

 

3. Want to buy a car? Check out the Car Loan Calculator to see what your monthly payments would be and what portion of your payments is principal versus interest. Try at least 5 different down payment amounts to see how that impacts the results. Copy down the results of two scenarios.

 

What do these results tell you about car loans? Realistically, what is your target down payment amount and loan term for when you purchase your own car?

 

  

4. Use the Credit Card Calculator to see how long it would take to pay off a credit card and how much of your payment is interest fees. Try at least five different APRs to see how they impact the total number. Copy down the results of two scenarios.

 

What do these results tell you about credit card debt? How will this impact you personally as an adult when you have access to opening credit cards?

 

 

5. Play the You’re Going to College! game. List three things you learned from it

 

Evaluation
Conclusion

Grab a Twitter Exit ticket and let me know what you thought of the WebQuest.

Teacher Page

Hello! Today you are going to complete a WebQuest. You will have to answer the questions by using the link provided.