Real Life Week: Project Capitalism IRL

Directions: Create a Google Slides presentation. You will have 5 slides in total. You will save
slide 1, the title page, until Day 4. Each day you will work on a slide. Please READ through the
assignment thoroughly so that you know what should be included on each slide. Ms. B will talk
about the slides and answer any questions if you have them. The project is due on Monday,
February 14th at 11:59 p.m.

For this project, we are fast-forwarding to one year after you have finished college. If you
calculate the time frame it is the year after you are to graduated from college and are done with
school, roughly.
- If you plan to get a technical or vocational degree you will be done with school in 2027.
(i.e. cosmetology, welding, mechanics, culinary, etc.)
- If you only need a bachelor’s degree for your career you will be finished with college
around 2029. (i.e. teacher, engineer, accountant, etc.)
- If you plan to go to graduate school or are planning a career that requires graduate
school (i.e. law, doctor, professor, psychologist, social worker, etc.) you will be done with
school in the year 2034.

Although you are “fast-forwarding” in time, you will be treating the future as the present.

Day 1 (Slide 2): Job

So your timeline will begin roughly around 2025, 2027, 2029, or 2034. These are the years
you will have started your career. With that you will have a job.

Today will be dedicated to finding a job in the area you plan to live in. You may use sites like
● Indeed
● Monster
● The Ladders
● AngelList
● Snagajob

Once you have found a job you will look up the company you are “working for” answer the
following questions about the company:
Industry:
Company name:
Does this company fit your own goals in life:

Lastly, once you have calculated your approximate yearly gross salary, I want you to calculate
your net salary. Use this income tax calculator to calculate your net income.

Ex: Teacher starting gross salary: 57,999

Total income taxes: 12,412
Net salary: 45,587
Day 1 Slide To do List:
1. Find a job
2. Answer the following questions about the job
a. Industry:
b. Company name:
c. Does this company fit your own goals in life:
3. Calculate your gross vs. net income using the tax calculator site.

Day 2 (Slide 3): Team Bank or FCU? And credit

When making a decision on where to hold your money, you need to look past the brand and
look at what they offer you. To do this you will first need to look up the difference between a
Federal Credit Union (FCU) and a bank.
What is the difference? What are the pros and cons of each?

Once you know more about the difference I want to you select a bank or FCU near where you
live or plan to live. Make sure this place offers good deals on loans, credit cards, and savings
accounts. You will eventually need them.

Part 2:
Debt makes the USA go round. Debt puts you on the map. Debt is important in many ways.
The most important reason is that it builds your credit score. Today, you will be researching
the importance of debt, when debt is good and when it is bad. Here are some questions to
help you start your search:
- Why is debt important?
- When is debt good?
- What is a credit score?
- What is a good vs bad credit score?
- How do you build credit?
- How much money should you be spending on a credit card?
- Where does credit score start?

Day 2 Slide to do list:

1. Take a stance: are you team FCU or team bank?
2. Choose a specific brand of bank or FCU.
3. Include at least 2 pros and 2 cons on the choice you made on the brand (Bank/FCU).
4. What interest rate offers does this bank/FCU have on credit cards, car/personal loans,
and savings accounts?
5. Research the importance of debt and its contribution to credit score. Then, Write 3
things you learned after your search.

Day 3 (Slide 4): Budgeting

You have calculated how much money you bring home (net income) on day 1. Now, you need
to budget your money to allow for a good lifestyle. I have calculated some of your essentials
for you. We will not add school loans expenses to the monthly payment because they vary
drastically person to person. The ones left blank you will have to search for. Here are you
monthly costs:
- Basic necessities- Food, Transportation costs (gas), Utilities (gas, water, electricity):
$600
 - Insurance (car and renters/house): $400
- Phone service:
- Wifi/ Internet service:
- Housing (buying or renting?):
- Streaming services? (netflix, disney+, hulu, hbo max, spotify)
- Gym memberships?
- Amazon Prime?
- Clothing
- Pets
- Fun/Travel
- Savings
- Miscellaneous

How much $ would you have left over?

Day 3 slide to do list:

1. Show all of your monthly expenditures and prices
a. Do not change the basic necessities or insurance amounts. You will need to
find an apartment or house to calculate housing.
b. Look around for phone and wifi services.
c. Make decisions on all other miscellaneous items that you would like to have
and calculate their cost in current time.
2. Calculate how much money you will have left over

Day 4 (Slide 5): Car

Find a car! You can use the following sites:
● Kelly Blue Book
● Cargurus
● Cars.com
● You can also use specific car brand sites (ex: Ford, Chevrolet, GMC, Tesla, Mercedes
Benz, BMW, Honda, Audi, Toyota, etc.)
The general consensus about buying a car off the lot is that you need 5 years of work
experience, a downpayment, good credit, and someone to loan you money.
- Work: Today, we are assuming you have 5 years of experience prior to starting your
career, even if it may not be the case.
- Downpayment: 20% of sale price for brand new cars and 10% of the sale price for
used cars. You will need to calculate this.
- Good credit: 660 and above. Again, today we are going to assume you have that.
- Loan: You have 3 options when it comes to financing a car. These options are
personal loan, auto loan, and dealer finance. You will be using your own bank that you
researched for slide 3 to finance the vehicle. The difference between personal loans
and auto loans are significant. The interest rates are different and the limitations are as
well. For auto loans the interest rates are lower but are limited to having to be 10 years
old or newer and under 100,000 miles. Personal loans have no limitations but tend to
have higher interest rates. You will need to find a vehicle and choose your finance
option.

Slide 5 to do list:
1. Find a car. Write about the features that you like about the car. Include pictures.
 2. Calculate the total loan amount:
- Calculate the total car amount by adding the sale price and the sales tax on
your vehicle. It will depend on the city you live in or plan to live in. (Buena Park,
Anaheim, and Fullerton sales tax is 7.75%)
- Use the DMV site to calculate registration fees.
- Add an extra $1500 for extended warranty.
- Add an extra $500 for Gap insurance
- Add an extra $500 for Dealer fees (It should NEVER be more than this. Ms.B
will tell you more about things to look out for at the dealership. There are often
many unnecessary fees. Ask for a fee breakdown.)
- Subtract your down payment amount. (10% of the sale price for used vehicles
and 20% for brand new)(ex. New car for sale price of $22,300. My down
payment would be $4,460.)
After following the steps above, it will give you your total loan amount.
3. Search “car loan calculator” on google and input the loan amount, the interest rate on
your loan from the bank you chose, and how many months (choose between 48, 60,
72 months) How much will your monthly payment be? Can you budget your car in your
monthly expenses?

Slide 1 to do list:
1. Create a Project name
2. Put your name
3. Make it look nice