Hello! This is my second ever careers blog post, and its a very informative one.
This project in careers, we learned about taxes, and other things to do with money, finances, and how weāre going to deal with our money when weāre older. It was a very real life project, and helped us learn very important information for our futures.
The first thing we did, was start a stocks/investing game, called Investopedia. Our entire class was ranked on a leaderboard, depending on what we invested in and how our stocks were doing. It was a very informative game, and it taught me what percentage to buy, when to sell and other useful tips to do with investing. Unfortunately, most of my stocks lost value near the end, so I ended up being near the middle of the pack in the rankings. All in all, it was a very interesting experience and will help me with investing when Iām older.
The next portion of our project was a ābuying a used carā simulation. We have to pretend that we were a university student buying a used car. But we also had other things we had to pay off like our rent, gas, pet insurance, etc. Unfortunately, we really needed that pet insurance because our cat whiskers swallowed some Lego, poor whiskers. We had to do a lot of calculations to determine if we were in debt or not. That part wasnāt my strong suit so Iām pretty sure I was in debt. The simulation was a very cool experience though, and Iāll make sure not to keep Lego around my future cat.
The final part of our project, and definitely my favourite part, was our student lead lessons. We got into groups of two, or individually presented on a topic to do with our project. My partner was Melissa, and we presented on buying a house: the basics. Our presentation was all about the basic needs of buying a house, and being a new house owner. We talked about house maintenance, credit score, and down payment, and a bunch of other topics to do with general housing. We really enjoyed presenting in this way, and educating our classmates. I also really enjoyed hearing the lessons from my classmates, and being taught by people who are more relatable, and actually my age. We also gave peer critique to another group, and that was quite useful to also reflect on our own work.
Our presentation:
Buying a house the basics
Driving question: How can I plan a financial future that will provide opportunities for success?
Using the information that I learned throughout this project, I can elaborate and continue expanding on it throughout my time at school, so that when I go off to university, I can be 100% ready for a stable financial future. I will set clear goals, tracking my spending, and creating a budget. I will have an extensive savings account, focus on paying off high-interest debt, and invest early to grow my wealth. Eventually I will look into a stable retirement plan. By regularly reviewing and adjusting my plan, Iāll stay on track to achieve my financial goals.
To very specifically answer the title of this blog post with the information I have learned during this project:
To stay out of debt, spend less than you earn and make a simple budget to track your money. This is called dept to income balance, which is basically the fact that you have to make more than you spend. Save for emergencies so you donāt have to borrow. Focus on paying off high-interest debt first and only borrow what you can afford to pay back. Stay consistent with these habits to keep your finances on track.
Competency:
šµāš« Processing: I can process ideas and further understandings: lifelong learning creates career and life opportunities.
Throughout this project, I processed different information, that would benefit me in the future. I did extensive research on the parts of this project that interest me, and processed this information so that I could eventually use it when Iām older. I will also be able to look back at this project, and process the information that Iāve learned, because it benefits me in the long run. This entire project was also a process, in which we had to be open to the idea of our finances in our future.
Thanks so much for learning with me! Now you know the basics of how to not be in debt!
Tune in next time when I basically become someoneās shadow for the day!
-Ailie š