Game of Life 2022

NAME____________________________________________________________ THEOLOGY 12/LAMONT
THE GAME OF LIFE
Objective
This project is designed to assist students in considering their financial future. The project consists of various “real world”
situations/decisions one will be faced with once entering the workforce. The student will create a budget that demonstrates what they feel
is the best use of their income.
Tasks
1. JOB---Four Years After High School
***The average salary in Florida for someone with a Bachelor’s Degree: $48,000.00
2. TAXES Use this website to calculate your income after taxes https://smartasset.com/taxes/paycheck-calculator#IHdlEANyEW
***Go to the left side of the website to Pay Frequency to see annual amounts and monthly---you need to be in full screen to see this
Gross Yearly Income

$48,000.00
Yearly Federal Income Tax
FICA Amount
*Federal Insurance Contributions Act is a US
federal payroll contribution directed towards
both employees and employers to fund Social
Security and Medicare
Yearly Social Security
Yearly Medicare
Net Yearly Income
***Since we are looking at monthly costs for most

thing----what will be your MONTHLY take
home(net)pay?
3. BANK- Students will choose a bank to deposit their salary/wages. You will indicate which services are available at the bank.
Name of the Bank:
What services do they offer?
List fees for services---do they charge to have an savings account, a checking account
4. HOUSING- Find housing by renting an apartment or other housing.
***You may share an apartment with another person. You cannot be living rent free with family or friends.
Include a list of 3 apartments/housing that you researched.
Location Rent
1.
2.
3.
Which ONE did you choose?_______________________________ Why?
Monthly Rent:___________________________
Are you sharing housing?________________; if so, your share of the monthly rent___________________
5. TRANSPORTATION INCLUDING INSURANCE AND GAS-

Or you going to buying or leasing a vehicle? *NOTE: Assume that you have no vehicle prior to this project.
Vehicle
Year: Make and Model Monthly Payment
Estimated Monthly Gasoline Use:

How Many Gallons a Month:_______________________X Price per Gallon______________=Total_______________
Insurance:
Name of the insurance company Coverage listed on the vehicle Monthly cost of the policy
***If you are not buying a car…what will be your plan for transportation:
Transportation Plan Monthly Cost
6. UTILITIES---Electricity/Cell Phone/Internet. ***Usually water is included in rents***

Electricity(FPL) Monthly Cost
Cell Phone Company Monthly Cost
Internet Company Monthly Cost
Cable TV and/or Streaming Services Monthly Cost

7. FOOD- Consider where your grocery shopping will be done. You will need to make a shopping list for a week.
Weekly Shopping List---Items and price
***Food for a week as well as other items(cleaning supplies, paper goods,etc)
Weekly Total:____________________X 4= Monthly Total:_______________________
9. ENTERTAINMENT/MISCELLANEOUS- Determine what they will do for entertainment and other related expenses and how
much it may cost them per month. Think: Gym membership, Movies, going out to eat, Getting Food Delivered, Concerts, Personal
grooming(hair cuts, nails), clothing, hobbies, travel, gifts for friends and family, etc.
List of Entertainment/Miscellaneous Expenses:
Total for Entertainment/Miscellaneous:_________________________
10. DONATIONS---List and describe charitable institutions you may contribute each month:_____________________________
11. SAVINGS- How much money will you set aside per month for savings:________________________________
MONTHLY BUDGET SHEET
Rent………………………………………………… $______________
Transportation Monthly Costs…………………... $______________

(Car payment/Insurance/Gas) or
Alternative Transportation Plan
Utilities Monthly Cost (add up total from below) $______________
Cell Phone $____________
Internet $____________
Cable $____________
Electric $____________
Monthly Food Costs $______________
Entertainment/Miscellaneous Monthly Costs $______________
Savings Deposits Each Monthly $______________
Monthly Donations to Charity $______________
Monthly Net (bring home) Income $______________
Total Monthly Expenditures $______________
Monthly Surplus or Deficit + or - $______________

***Subtract the Monthly Expenditures
From your Monthly Net Income
***THOUGHT BREAK
1. What surprised you about making the budget? (What was more expensive than you expected? What was less
expensive? Was it harder than you expected to decide how to spend your money?)
2. a. What did you learn about budgeting your money?
b. Will you use anything that you have learned to make a real budget in the future?
3. If you had a minimum wage job(about $20,000 after taxes), would the project have been different? Explain.

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NAME____________________________________________________________ THEOLOGY 12/LAMONT

THE GAME OF LIFE

Gross Yearly Income

Yearly Federal Income Tax

Yearly Social Security

Net Yearly Income

***Since we are looking at monthly costs for most

Name of the Bank:

What services do they offer?

Which ONE did you choose?_______________________________ Why?

5. TRANSPORTATION INCLUDING INSURANCE AND GAS-

Estimated Monthly Gasoline Use:

6. UTILITIES---Electricity/Cell Phone/Internet. ***Usually water is included in rents***

Cell Phone Company Monthly Cost

Internet Company Monthly Cost

Cable TV and/or Streaming Services Monthly Cost

Weekly Total:____________________X 4= Monthly Total:_______________________

Total for Entertainment/Miscellaneous:_________________________

Transportation Monthly Costs…………………... $______________

Utilities Monthly Cost (add up total from below) $______________

Cell Phone $____________

Monthly Food Costs $______________

Entertainment/Miscellaneous Monthly Costs $______________

Savings Deposits Each Monthly $______________

Monthly Donations to Charity $______________

Monthly Net (bring home) Income $______________

Total Monthly Expenditures $______________

Monthly Surplus or Deficit + or - $______________

2. a. What did you learn about budgeting your money?

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6. UTILITIES---Electricity/Cell Phone/Internet. Usually water is included in rents

Weekly Total:X 4= Monthly Total:___