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AbstractThe Game of Life is an immersive simulation of life after school designed to emphasize the value of responsible decision making, self-discipline, and investing in human capital while also teaching the fundamental skills required to manage the numerous aspects of one's personal finances. Students have opportunities each week to make key decisions related to education, career, home & family, respond to unexpected events, and take steps to plan for their future by acquiring assets and investing. They also engage in the day-to-day tasks of writing checks, recording transactions in a ledger, buying and selling assets, and calculating net worth.The game follows the students as they progress through their professional career after high school or college, including all the many events associated with becoming a “responsible adult” - buying a home,getting married, supporting a family, and planning for their eventual retirement. Throughout each stage of the game, there is an ongoing theme related to the long-term impact of choices. Indeed, the game is actually designed to favor those students who make sound investments in their personal capital, establish an emergency fund, and acquire assets that appreciate in value.It also includes elements of chance and the unexpected, just like real life, and these elements further reinforce the importance of having a sound financial plan and sticking to it. Events like a sudden job loss, unplanned home repairs, medical bills, or an economic recession may occur during the course of the game, further challenging students on the path to achieving their financial goals. Throughout the course of the game, students track their net worth each week, and the student with the highest net worth atthe end of the class is declared the winner.Originally designed for use with at-risk special education students who are typically working below grade level, the game provides an engaging and fun way to have them practice the concrete real-lifeskills they will need for their day-to-day finances and show them the more abstract concept of how the choices they make in their young lives regarding their education, behavior, and employment can have a significant impact on their long-term financial and career outcomes. However, it can easily be used in other education settings with success, and certain aspects of the game can be made more complex or be adapted to better serve students functioning at a higher academic level.1Game of Life: Jordan Whiley

Economic Content and Key ConceptsPersonal Finance Concepts AddressedThe Game of Life is designed to address a broad range of financial concepts in a manner that is engaging, entertaining, and relevant to students. It attempts to balance the elements of strategy and chancethat are part of most games within the context of a realistic simulation of “a year in the life” of an adult.At its core, the game is about choices, and how choices made early on can have far-reaching consequences with regard to a person's financial future. Students gain an understanding of the concept of investing in their own human capital, how to consider costs and benefits when making decisions, and when to choose to take on debt as a means of improving one's net worth. Each round of the game offers students numerous opportunities to make financial decisions and observe their outcomes over the course of the game.Since the game follows each student through many “years” of their life, they have the opportunity to learn about nearly all the major areas of personal financial planning – the cost of raising children, the benefits of a 2-income household, the costs & benefits of purchasing a home, the importance of establishing an emergency fund, the consequences of divorce, the value of insurance in protecting assets, the benefits of an employer-sponsored retirement plan, the risks & benefits of entrepreneurship, and the impact of their choices made during the start of the game on their long-term earning potential.In addition to those broader concepts, students also practice several practical financial skills, including calculating percentages, recording and calculating deposits and withdrawals, writing checks, and calculating net worth.Personal Finance Terms FeaturedAsset: property owned by a person or company, regarded as having value and available to meet debts Benefit: an advantage or profit gained from something.Cost: an amount that has to be paid or spent to buy or obtain something. Debt: something, typically money, that is owed or due. Deduction: an amount subtracted from income or tax liabilitiesEntrepreneur: a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. Expense: the cost required for something; the money spent on something. Human Capital: the skills, knowledge, and experience possessed by an individual.Income: money received, especially on a regular basis, for work or through investments.Inflation: a general increase in prices and fall in the purchasing value of money. Insurance: a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.2

Interest: money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.Liability: a thing for which someone is responsible, especially a debt or financial obligation.Loan: a thing that is borrowed, especially a sum of money that is expected to be paid back with interest. Mortgage: a legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt. Net Worth: everything you own of significance (assets) minus what you owe in debts (liabilities).Principal: an original sum invested or lent.Real Estate: property consisting of land or buildings.Retirement Plan: a employer-sponsored plan where eligible employees may make tax-deferred contributions form their salary or wages to on a post-tax and/or pretax basis. Risk: the danger or possibility that a person will lose money. Stock: the capital raised by a business or corporation through the issue and subscription of shares. Tax: a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions. Tax Bracket: a range of incomes taxed at a given rate. How Concepts are TaughtAll the concepts introduced and addressed in the game are taught through game play. Each week, students simulate a year in their adult life. The “year” is broken down into several discrete rounds: 1. The Income & Expense round, where students calculate their annual income, subtract taxes and deductions to determine net income, adjust their annual expenses for inflation, write checks to pay their expenses for the year, calculate their new balances for their asset and liability accounts, and update their ledger with the new balance amounts.2. The Life Events round, where students draw cards relating to 4 areas – careers & income, marriage& family, home & personal property, and day-to-day events. The event may be good or bad, and the financial consequences of the event may or may not apply to the student depending upon their particular situation and the choices they have made in past rounds.3. The Asset Buy/Sell round, where students calculate the new value of their currently owned assets such as stock, real property, and personal property. Some assets appreciate at a fixed rate, while others may appreciate at a variable rate. In the case of the stock, it might gain or lose value. Students also decide if they wish to purchase or sell any additional assets.4. Mike's Mystery Money round – named after the first student to participate in the first version of the game, this round is a high-stakes game of chance that teaches both the value of cost-benefit analysis and the pitfalls of gambling, as the round is stacked against the player, just like other games of chance.Once these rounds have been completed, the students re-calculate their net worth to see if it has increased or decreased for the year.3

Economic Standards and Student Learning OutcomesStudent Learning Objective/Outcome Corresponding Virginia SOLDemonstrate effective decision-making by comparing costs and benefits prior to making a purchaseEPF.1c, EPF.10c,fUnderstand the importance of investing in human capital as part of earning potentialEPF.2g, EPF.4a,c, EPF.15aUnderstand how economic choices have long-term consequencesEPF.1bUnderstand the roles of money and the financial system as it relates to personal income & expensesEPF.6a,bDemonstrate the ability to keep financial records of transactions and balancesEPF.10gDemonstrate the ability to manage disposable income and make sound discretionary spending decisionsEPF.11fUnderstand the value in purchasing a home and other assets that appreciate over timeEPF.11b,dUnderstand the importance of establishing a reserve fund for emergenciesEPF.17bUnderstand what financing is and how liabilities and assets impact net worthEPF.13a, EPF.17cUnderstand the importance of insurance in managing financial riskEPF.14a,cIdentify the sources of net worth and income EPF.15bCalculate net pay after taxes and voluntary deductions EPF.15cUnderstand the value of employer-sponsored retirement plans and other investment-grade assetsEPF.15d, EPF 18.b,e,fDemonstrate the ability to set goals during the game andfocus on achieving specific objectivesEPF.17a,bUnderstand how inflation impacts expenses and affects their financial situationEPF.17e,fUnderstand the risks and rewards associated with being an entrepreneurEPF.2cUnderstanding the compounding effect on the value of assets purchasedEPF.18a4

Instructional ProcessMaterials List• Ledgers, such as Wilson Jones 4-Columnar Pads (optionally, you might use a computer-based financial software, like Mint or Quicken Online) – 1 per student• 2 or 3 10-sided dice• $50 and $100 bills, about 5-10 per student in the class (included)• Check sheets for each student (included)• Game cards, sorted into each of 4 types (included)• Copies of Career & College Costs for students (included)• Copies of Instructions, College & Career Costs and Asset List for teacher use (included)• Master Spreadsheet for class use (included)• Computer and digital projector (for using the master spreadsheet with the class)• Pencils• Basic calculator (or financial calculator if desired)Time RequiredA typical round of the game takes anywhere from 45 minutes to 90 minutes depending on class size and ability level. For larger class settings, students may do best playing in small groups using multiple copies of the game cards. Overview of ProcessThe following is a brief summary of the game. For a detailed step-by-step overview of the rules and order of game play, please consult the attached supporting document titled “Life – Rules of the Game.”Students make decisions related to career & required education level at the beginning of the game. Based on those decisions, the student is given a specific starting salary, amount of student loan debt, and annual raise amount designed to simulate the costs & benefits of investing in human capital. Then each school week a year in their life is simulated. Students record their annual after-tax income and expenses ina ledger, write checks or use cash to pay bills, and have the opportunity to make decisions about acquiringinvestment assets, purchasing a home, saving for retirement, and other risk/reward decisions. These various decisions and transactions are summarized on the Master Spreadsheet and documented by the student in their ledger book.Next, students draw cards from 4 different decks to simulate the less predictable events, both good and bad, that may occur during the year, such as getting a bonus, getting laid off, getting married, having children, making home repairs, or getting a flat tire on the way to work. These events may increase the student's annual expenses, require immediate payment from their cash reserves, or possibly take out a personal loan. These event cards help reinforce the importance of building an emergency fund. Students 5

also roll dice to determine the performance of the stock market that year and to determine the rate of inflation for the following year, which tangibly demonstrates how outside economic factors influence their personal financial situation. Students also have the opportunity to choose to participate in a high-risk/reward game of chance, without the knowledge that the game is weighted against the student; this design reinforces the importance of managing risk by carefully considering the risk/return ratio of their choices. Finally, students utilize their ledger of assets and liabilities to determine their net worth at the end of the year. At the conclusion of the class, the student with the highest net worth is declared the winner.Evaluation of Student LearningSince the game is an interactive, hands-on activity conducted over the course of an entire class term, much of the evaluation of student learning comes through the routine observations of changes in their decision-making processes and improvement in their personal financial skills. As part of evaluating their progress, the teacher may check their ledgers each week to insure that students are properly accounting for additions and subtractions to their assets and liabilities. Furthermore, the teacher can collect the checks students write for bills they pay and evaluate them for correctness.Typically, most students require significant guidance and follow-through for the first several weeks of play. However, I have observed that students are able to independently complete many of the steps of the game after a few weeks of practice. I have also observed numerous students who begin the game making unsound or high-risk decisions, but as their more thoughtful and careful peers start to move ahead in terms of accumulated wealth, they begin to take more time to think about the costs and benefits of their decisions and start to be more careful with how they manage their wealth.Over the course of the class, students not only learn several useful routine skills they will need to better manage their money on a day-to-day basis – they internalize positive values and attitudes toward saving, investing, decision-making, and thinking about their long-term financial situation that will serve them for the rest of their lives.6

Life- The Rules of the GameThe Player Stats Board Key:Initial Set-up:(1) Everyone starts the game single with no children. Players use the “Career and College Costs” sheet to decide on a career and the minimum education level for that career. Students may, if they wish, get more education than the minimum requirement. Based on their career and education selections, their spreadsheet box is updated with degree level, job field, starting income, loan principal (if any), and assets (if any). The spreadsheet will automatically calculate the raise %, tax %, and taxes.(2) Players create columns in their ledger to reflect their checking account balance and their loan principal balance. If a player chooses to be an Entrepreneur and starts with an asset, they create a column for that asset value and a column for the amount of the small business loan they have.(3) Starting expenses for each player are set to 55% of their starting income, plus $7,200 for rent and the loan payment they may have based on their education choice, which is indicated on the “Career & College Costs” sheet. Players also start with $500 in cash and a balance of $1,000 in their checking accounts.Johnny 5%M-0 $76,610 15%MS $1,532 2%Tech $11,262$54,572CE: 1crAssetsLiabilitiesLand $1,500$5002B Home $3,200$1,600StockAntique $84,695CollectMarital Status/# KidsDegree LevelJob FieldSpecial Events Inflation 2.5%Raise %Income/Tax %Retirement $/%TaxesExpensesLoan Principal/PmtNet Worth

Game Play Step-by-Step:(4) Players increase their income by their annual raise % (from Education section of “Career & College Costs” Sheet, and in the top right corner of the player's stats box). Enter the new income for the year in the “Income” section of the player stats board on the Master Spreadsheet. The spreadsheet will automatically calculate the tax bracket, which is based on income, marital status, and number of children. Tax brackets may be edited each year to reflect changes in the IRS rules if desired.(5) If a player has drawn the retirement fund card during a previous round, they may decide tochange their deduction percentage based on their taxes and expenses, anywhere from 0-10% of their annual income. To change the retirement contribution, change the percentage amount. The spreadsheet will automatically calculate the contribution amount and adjust the taxes based on this pre-tax deduction. Players may not deduct more for retirement than they have in disposable income.(6) Players now calculate their annual paycheck deposit by subtracting their taxes AND any retirement from their income, and enter this deposit into the checking ledger column.(7) RETIREMENT: If the player deducts an amount for a retirement contribution, they should add 50% to that amount for the employer match, then deposit that into their “Stock” asset column in their ledger book.(8) SPECIAL INCOME: Some players may have special income listed due to a life event card or other special event. This amount is also deposited into their checking column, but is not used for calculation of taxes or retirement contributions.(9) Players now add the inflation % (bright yellow box in bottom right corner of spreadsheet) totheir expense amount. Update the spreadsheet cells to reflect the new expense amount.(10) Players write their annual expense check for their new expense amount, deduct the amount from their checking column in their ledger, and write down their new balance. If the player does not have enough money to cover their expenses, they must sell any assets first to cover the difference. If they have no assets, then they must take out a personal loan, and add the difference to their loan liability column to reflect the shortfall.(11) Students subtract the specified principal payment amounts from the balance in the LIABILITIES column of their ledgers. The liability balance on the player spreadsheet is updated to reflect this new principal balance. If a liability is paid off, deduct the payment amount (found on the “Career & College Costs” sheet from their expenses and update the Expenses section of the player stats board to remove the liability amount and principal payment amount. (12) For any homeowners (NOT owners of investment real estate on the “Assets” chart, such as the cabin, land, rental, condo, farm, or beach house), increase the value of the home by 3%. Players with investment real estate will calculate their new asset value in step 15, below.(13) For students who chose to be Entrepreneurs, the value of their small business increases by 5% plus the annual raise amount (determined by their chosen level of education)

(14) Draw 8 Life Event cards, 2 from each color set. Follow instructions and make changes to income, expenses, and value of assets as each card is turned over. Some cards take effect that year, while others (like the retirement plans or raises) will not go into effect until the following year.(15) Stock & Retirement investments: Use 2 10-sided dice, one to represent market “gain” and the other market “loss”. The highest roll wins. For example, a “gain” of 6 and a “loss” of 3 would mean “gain” wins, so investments go up 6% that year. In the event of a tie, “gain” wins. For this roll, a “0” counts as a “10”. Players with stock or retirement money increase or decrease their asset values by the winning percentage.(16) Players with personal property assets that have a variable appreciation (listed on the “Assets” chart) roll a 10-sided die to determine that year's appreciation rate and then calculate the new value of their asset(s) and enter that new value in their ledger.(17) Players calculate the new values for investment real estate assets using the percentage listed on the “Assets” chart. For the rental home, farm, and casino, the student also rolls a10-sided die to determine the percentage of the property's value that it generates in income.(18) Buy-Sell Round: Players may now make decisions regarding purchasing or selling their property. Players may purchase any items on the “Assets” list of real and personal propertyif they have sufficient cash. For personal property, players may spend any multiple of $1,000 within the indicated dollar range. Property from this list may not be financed. Players may also decide to purchase stock. Stock may be purchased in any multiple of $1,000, with no limit to the dollar amount. Stock also may not be financed.(19) Players may decide to purchase a personal home. Personal homes may be financed using the “Home Costs” chart on the Master Sheet. The down payment amount must be paid in cash up front. The player may then select a 15-year or 30-year mortgage. Player expenses are increased by the payment amount indicated less the amount they were already paying for rent. For example, the payment on a 1-bedroom house with a 15-year mortgageis $6,480, but a player that is single with no children pays $7,200 in rent, so their expenses will decrease by $520 per year. Enter the home into the ASSETS column and the mortgage principal into the LIABILITIES column. Players then add the asset as a new column in their ledgers and add the mortgage amount to their loans balance, if any.(20) Players may optionally participate in “Mike's Mystery Money”. Players must choose to participate BEFORE any player rolls the dice. Each player rolls two 10-sided dice, the numbers are added together (“0” counts as “0”), and must follow the instructions for that item on the list.(21) A player rolls a 10-sided die and divides by 2 to determine the inflation percentage that will be used for next year's expense calculations. For this roll, a “0” counts as a “0”.(22) Players now re-calculate their net worth, adding all of their cash, their checking account balance, and any assets and then subtracting any liabilities. Update the green box on the player stats board to reflect the new net worth values.(23) At the end of the course, the player with the highest net worth wins the game!

Assets & Mike's Mystery MoneyPage 1Real Estate Assets (fixed rate) Personal Assets (variable rate)Asset Cost Appreciation Asset Cost AppreciationLand $10,000/acre 5.00% Rare Books $1,000 1-10%Cabin $40,000 4.00% Fine China $2,500 1-10%Rental Home* $50,000 2.50% Antique Desk $5,000 1-10%Condo $60,000 4.00% Jewelry $10,000 1-10%Farm* $80,000 2.50% Sculpture $15,000 1-10%Beach House $100,000 4.00% Painting $20,000 1-10%Casino* $250,000 2.50% Classic Car $50,000 1-10%Mansion $1,000,000 4.00% Fine Art $100,000 1-10%*Each year the player rolls a die to determineany income (0-9% of property's current value)Mike's Mystery MoneyRollEvent0You get mugged on the way home! Lose all your cash and pay $2,500 to the hospital.12You are having trouble in your relationship. Spend $1,500 on counseling.3You receive an honorary degree! Collect $1,000 and increase education by 2 years4You get sued and lose – pay $5,000 in lawyer's fees and $10,000 in damages.5You get an article published in People magazine! Collect $1,0006You get elected to town council! Collect $7,500 in pay for 2 years.7You develop an addiction to gambling. Lose $4,000 at the race track.89The bank makes an error in your favor! Collect $1,00010You having a winning lottery ticket! Collect $3,00011Global economic recession! Lose $5,000 in income this year.12You fall victim to an email phishing scam! Lose $1,000.13A wealthy relative passes away and leaves you $2,000 in her will!14You find someone's wallet and return it. They give you a $500 reward!15You have a rare illness that is not covered by insurance. Pay $5,000 for treatment.16You discover some stock certificates in an old book! Add $2,500 to your stock assets.17You discover a valuable antique at a garage sale! You sell it and make $1,500 profit18You become a victim of identity theft. Pay $500 to have a company restore your credit.You help Crimesolvers catch a crook! Collect a $10,000 reward!You forget to pay your taxes. Pay the IRS $7,500 in fees and penalities.

Career & College CostsPage 1Career Level Min Educ. Starting Pay Example JobsUnskilled Worker HS $24,000 Factory labor, service jobs, apprentice workersTechnical School 2-year $30,000 Computer technician, lab technicians, electricians, medical assistantsProfessional 4-year $38,000 Engineers, teachers, businessmen, nursesManagers 6-year $48,000 Supervisors, administrators, project leaders, accountantsLicensed Professional 8-year $60,000 Doctors, lawyers, professorsEntrepreneur* HS $20,000 Small business owner*The entrepreneur also starts with a $15,000 business asset and a $20,000 loan. The business asset increases 5% plus the player's annual raise amount.Education Choice Debt Payment Principal Raise %High School only $0* $0 $0 2.00%2-year Degree $15,000 $1,575 $1,500 3.00%4-year Degree $30,000 $3,150 $3,000 4.00%6-year Degree $45,000 $4,725 $4,500 5.00%8-year Degree $60,000 $6,300 $6,000 6.00%*The entrepreneur starts with $20,000 of additional debt regardless of education level. Annual payment is $2,200 over 10 years, $2,000 for principal.Tax Brackets Starting Expenses = (Starting Pay * 0.55) + 7,200 + loan payments0-17,850 10.00%17,851-43,350 15.00%43,351-91,350 25.00%Rent Costs (for comparison with mortgage rates below)91,351-177,200 28.00% Single $7,200.00177,201-373,000 33.00% Married Add $1,800.00373,000 and up 35.00% per Child Add $900.00Home Costs15-year Payment & Equity 30-yr Payment & Equity1-bedroom $80,000 $16,000 $6,480 $4,200 $5,100 $2,1002-bedroom $120,000 $24,000 $9,720 $6,400 $7,700 $3,2003-bedroom $180,000 $36,000 $14,580 $9,600 $11,500 $4,8004-bedroom $270,000 $54,000 $21,900 $14,400 $17,200 $7,2005-bedroom $400,000 $80,000 $32,400 $21,300 $25,500 $10,6006-bedroom $580,000 $116,000 $46,800 $30,900 $37,000 $15,400Down Pmt.

Life Event CardsKA-BOOM!Your workplace is laying off new hires.If you have less than a bachelor'sdegree, lose 10% of your salaryspending time finding a new job.CHA-CHING!Your boss gives you a raise! Add 5% toyour current annual salary.KA-BOOM!It's a recession year. Cutbacks at workmean taking a 5% pay cut to keep yourjob.CHA-CHING!You just received an early promotion.Add your annual raise amount to yourcurrent salary. KA-BOOM!Your company declares bankruptcy,and you must take another job offerquickly. Deduct your annual raiseamount from your current salary.CHA-CHING!Company profits are on the rise.Collect 10% of your annual salary as abonus.KA-BOOM!You got injured paying sports and mustmiss several weeks of work. Lose 5% ofyour salary while on disability and payyour $1,500 insurance deductible.CHA-CHING!You impress the boss with yourdedication and solid work ethic.Collect a $5,000 bonus.

KA-BOOM!You get your hours cut. Take a 15% paycut and keep your job, or spend 25% ofyour annual salary finding a new job.CHA-CHING!You get some consulting work on theside this year. Collect an additional20% of your annual salary this year.KA-BOOM!Bear Market: If you own stock, itdecreases 10% in value this year.CHA-CHING!Bull Market: If you own stock, itincreases 15% in value this year.KA-BOOM!Global Recession: If you own stock, itdecreases 20% in value this year.CHA-CHING!Hot Stock Tip: If you own stock, itincreases 25% in value this year.KA-BOOM!You invest $2,000 in a friend's businessventure, and he totally blows it. Somefriend.CHA-CHING! You loan a friend $5,000 to start abusiness. He pays you back the $5,000plus $1,000 in interest.KA-BOOM!Your stock broker is busted for insidertrading. If you own stock, lose $5,000.CHA-CHING!A relative passes away and leaves youa gift of $10,000 in stock.

KA-BOOM!Chapter 11: A major investment goesbelly-up. If you own stock, lose 50% ofyour portfolio's value.CHA-CHING!Stock Split: Your stock splits 2-for-1. Ifyou own stock, double the value ofyour portfolio.KA-BOOM!The education requirements for yourjob go up. If you do not have a 4-yeardegree or better, then you must spend10% of your salary taking additionalcourses.CHA-CHING!A relative offers to help you with yourstudent loans. If you have studentloans, pay off an extra $2,000 thisyear.KA-BOOM!There is declining demand foremployees with your skills. Subtractyour annual raise amount from yoursalary.CHA-CHING!Your skills attract several offers fromother companies. Add your annualraise amount to your salary.CHA-CHING!Your company starts a retirementplan, and you have the option tocontribute each year. The companywill match your contribution by 50%.CHA-CHING!Your job offers assistance withcontinuing education. Each creditcosts $500. 5 credits add 1 year toyour education level. If you reach ahigher degree, increase your raise andannual salary to match.

THE MONEY PITYour foundation cracks. If you own ahome, spend 5% of your property valueto fix it.MOVIN' ON UPThe housing market is hot this year.Your residence appreciates in value15%.THE MONEY PITYour roof is leaking. If you own ahome, spend 5% of your property valueto fix it.MOVIN' ON UPInterest rates are low, so you re-finance your home. If you own ahome, decrease your annual expensesby $1,200.THE MONEY PITYour house needs painting. If you owna home, spend 10% of your propertyvalue to re-paint.MOVIN' ON UPYour buddy is moving out of his sweetcrib and offers you a great deal. If yourent, deduct $1,200 from your annualexpenses.THE MONEY PITFIRE! A fire destroys your residence.Pay the $1,000 deductible on yourhomeowner's/renter's insurance.MOVIN' ON UPA couple makes you an offer on yourhouse that you can't refuse. If you owna home, collect $10,000 profit.THE MONEY PITA tree falls on your car. Pay the $1,000deductible on your auto insurance.MOVIN' ON UPYour wealthy relative dies and leavesyou some land. Add a land asset toyour ledger worth $10,000.

THE MONEY PITYour car's engine is kaput. Spend$4,000 on a new engine for yourvehicle.MOVIN' ON UPA good year for homeowners. If youown a home, increase its value anadditional 5%.THE MONEY PITThe housing market tanks. If you owna hoe, your house depreciates in value10%.MOVIN' ON UPThe county lowers property taxes. Ifyou own a home, subtract 2% of yourhome's value from your annualexpenses.THE MONEY PITThe county re-assesses real estatevalues. If you own a home, add 2% ofyour home's value to your annualexpenses.MOVIN' ON UPYour home is selected for ExtremeMakeover! If you own a home,increase its value 25%.THE MONEY PITProperty Repairs: Pay 5% of yourpersonal property's total value inmaintenance and repair fees.MOVIN' ON UPYou take an old table your aunt leftyou to sell at auction. It turns out tobe an antique! Collect $3,500.THE MONEY PITYour rent is set to increase. If yourent, add $1,200 to your annualexpenses.MOVIN' ON UPYour car gets a few dings in a hailstorm. If you own a car and haveinsurance, collect $1,500 for theinsurance payment.

THE MONEY PITTornado! A tornado lands near yourresidence and damages your property.If you own any real or personalproperty other than your home,choose one and decrease its value by50%.MOVIN' ON UPYour neighborhood is declared anhistoric district. If you own a home,increase the value by 20%.THE MONEY PITFLOOD! Your basement floods.Insurance will not cover it, so pay 5%of your home's value to make repairs.MOVIN' ON UPYour car becomes a classic. You decideto sell it and buy another car. Collect$5,000 profit if you own a car.LOVE STINKSYour significant other demands more“quality time”. Spend $1,000 oneating out this year.WE ARE FAMILYYour spouse gets a better job. If youare married, collect an extra $5,000 insalary this year.LOVE STINKSYou still can't find the right partner. Ifyou are not married, spend $1,500 ondating this year.WE ARE FAMILYYou have a baby! If you are married,collect $2,000 in gifts. Add thefollowing to your expenses:1st child: $7,000 | 2nd child: $6,0003rd child: $5,000 | 4th or more: $4,000LOVE STINKSChristmas and Birthday Gifts – Pay$500 per child, and $250 for yourspouse or significant other.WE ARE FAMILYYou have a baby! If you are married,collect $2,000 in gifts. Add thefollowing to your expenses:1st child: $7,000 | 2nd child: $6,0003rd child: $5,000 | 4th or more: $4,000

LOVE STINKSYour spouse ends up in the hospital.Pay the $1,500 deductible on yourhealth insurance.WE ARE FAMILYYou fall in love and decide to getmarried. If you are not married:Add 80% to your total salaryIncrease your expenses by 60%.LOVE STINKSYou and your spouse divorce. Decreaseyour salary by 40%, your expenses by35%, and give up half of the value ofall of your assets except your personalhome.WE ARE FAMILYYou have a baby! If you are married,collect $2,000 in gifts. Add thefollowing to your expenses:1st child: $7,000 | 2nd child: $6,0003rd child: $5,000 | 4th or more: $4,000LOVE STINKSSummertime is here! Pay $500 perchild for summer camp.WE ARE FAMILYYour child qualifies for a scholarship tocollege this year. If you have a collegefund in your ledger, collect $5,000.LOVE STINKSYou need to plan for your children'seducation. If you have children, add anew asset to your ledger for theircollege fund, and transfer $3,000 fromchecking into the fund.WE ARE FAMILYYour child takes up acting and isdiscovered! Collect $10,000 if youhave children.LOVE STINKSYou need to plan for your children'seducation. If you have children, add anew asset to your ledger for theircollege fund, and transfer $3,000 fromchecking into the fund.WE ARE FAMILYThe Congress approves a new child taxcredit. If you have children, collect$1,000 per child.

LOVE STINKSYour child has a rare illness. If youhave children, pay $2,000 for theinsurance deductible.WE ARE FAMILYYour spouse gets a bonus this year atwork! If you are married, collect anadditional $8,000 this year.LOVE STINKSYour oldest child gets their license.Spend $5,000 on a used car for themto drive.WE ARE FAMILYYou fall in love and decide to getmarried. If you are not married:Add 80% to your total salaryIncrease your expenses by 60%.LOVE STINKSYour spouse loses her job. If you aremarried, deduct $10,000 from yoursalary this year.WE ARE FAMILYYour significant other is pregnant!Collect $2,000 in gifts. Add thefollowing to your expenses:1st child: $7,000 | 2nd child: $6,0003rd child: $5,000 | 4th or more: $4,000LOVE STINKSYour child needs braces. If you havechildren, pay $1,500.WE ARE FAMILYYou fall in love and decide to getmarried. If you are not married:Add 80% to your total salaryIncrease your expenses by 60%CHANCEYou find $100 in your jacket pocketthat you had forgotten about.CHANCEYou win the football pool at work.Collect $250.

CHANCEYou lose $100 playing poker with yourbuddies.CHANCEYour dog is hit by a car. Pay theveterinarian $400 to fix its broken leg.CHANCEYou fall down the stairs. OUCH! Paythe $500 deductible on your healthinsurance.CHANCEYou decide to play the lottery everyweek – and you never win. Spend $250on lottery tickets.CHANCEYou decide to take a vacation. Spend$500 per family member on the trip.CHANCEYou make it on to Wheel of Fortune.Unfortunately, you're not the bigwinner. Collect $1,500.CHANCEYour job relocates you to a newworkplace that is farther away fromhome. Add $1,000 to your annualexpenses.CHANCEYour job offers assistance withcontinuing education. Each creditcosts $500. 5 credits add 1 year toyour education level. If you reach ahigher degree, increase your raise andannual salary to match.CHANCEYou are given a company car to usethis year. Reduce your annualexpenses by $1,000.CHANCEYou receive $500 from a relative foryour birthday.

CHANCEYou have a solid driving record, whichlowers your auto insurance premium.Decrease your expenses by $200 peryear.CHANCEYour company starts a retirementplan, and you have the option tocontribute each year. The companywill match your contribution by 50%.CHANCEThe government sends out economicstimulus checks. Collect $500 perperson in your family.CHANCEYour iPod breaks. Spend $250 to buy anew one.CHANCEYour TV dies. Spend $400 to buy a newone.CHANCETime to upgrade your gaming system.Spend $300 on a new one.CHANCEUgh! Flat tire on the way to work.Spend $150 on a tow truck and a newtire.CHANCEYou need a new wardrobe for work.Spend $500 on new clothes.CHANCEYour couch is falling apart. Spend $750to buy a new one.CHANCEYou do some odd jobs on theweekends. Collect $750 in extraincome.

CHANCEYour computer is on the fritz. Pay therepairman $150 to fix it.CHANCEYour house is hit by lightning andblows out the breaker box. Pay anelectrician $500 to fix it.

Sheet1Page 1BCA Student1011874 Anderson HighwayDateCumberland, VA 23040Pay to the order of $DOLLARSFOR30852542 0005068125 0101BCA Student1021874 Anderson HighwayDateCumberland, VA 23040Pay to the order of $DOLLARSFOR30852542 0005068125 0102BCA Student1031874 Anderson HighwayDateCumberland, VA 23040Pay to the order of $DOLLARSFOR30852542 0005068125 0103BCA Student1041874 Anderson HighwayDateCumberland, VA 23040Pay to the order of $DOLLARSFOR30852542 0005068125 0104Bank of Bear CreekPO Box 192Cumberland, VA 23040Bank of Bear CreekPO Box 192Cumberland, VA 23040Bank of Bear CreekPO Box 192Cumberland, VA 23040Bank of Bear CreekPO Box 192Cumberland, VA 23040