First an update on G2's hives...
They are still going strong, unfortunately! As a matter of fact, the nurse sent her home from school due to their severity and her discomfort around 8:30 this morning. I called the pediatrician who decided to pull out the big guns....a short course of Prednisone. So yeah good times here. Haha!
As G2 was home itching her way through the day, she was working on her Personal Finance class final. Since it is a take home project and she had it spread out, I took a peek and was shocked!
When the school first implemented a mandatory PF class a year or two ago, I initially thought it was a great idea. At least G2 (G1 was exempt from taking this class since she is a senior) would learn some of the basics (balancing a checkbook) and some of the more intricate stuff (stock market anyone?). But, I admit that I hadn't really asked any questions about the class before today. Now I wish I had looked more into it.
The final project (aka final for this class) is actually a decent idea. The students have to basically play "life". In the beginning of the class, they took some test to see which careers suit them best. Then they had to choose one career to research. (While I'm not thrilled with the idea of these "tests" to determine career, I could still go with this part.)
Now, that career was being put to the test in "real life".
Sounds like a pretty awesome project don't you think?
Until I saw the numbers that G2 was given to use....
Here are the highlights....
She had to research the salaries of her profession in Connecticut and then had to use 25% as her starting salary. That seemed a little low to me but okay I guess.
She was required to save 10% of her net pay - she had to do calculations to get to her net pay.
She had to find an apartment/house to fit her budget.....or if she couldn't find one she could afford, she had to "find" roommates in her class. Luckily her boyfriend is in the class so they could work together.
She was required to purchase a car. The car had to be between the years 2010 to current and she HAD to borrow at least 11K to do it, get either a 60 or 48 month loan, and were given percentage rates to use. Apparently they didn't talk about searching for the best loan rates? And, yet students HAD to do it. (((insert eye roll)))
Oh and car insurance? They had to use 2200 if you were female/2600 if you were a male for a simple sedan. MY car insurance for TWO cars (one being sporty) isn't that much per year!
Also, they had to plug in $160 month for gas.
And, of course, she HAD to have student loans for college! She had to research a college that fit her career choice, figure out room and board, books, and use a loan calculator to get her loan payment. (At least the teacher was "generous" enough to let them deduct 20% for scholarships - she writes sarcastically) Unreal!
Other monthly budget lines that the students got to chose from....
Landline telephone: $60 SIXTY DOLLARS?!?! What? Who pays that much for a landline?!?!
Cell phone: $180 Again?!?! What the hell? For one phone?
Cable & Internet: $120 (too low for our area to be honest)
Health insurance: $80 (way too low!)
Lets not forget the credit card debt they were required to use of: $100.
They had to come up with a grocery budget and meal plan as well. BUT, they were not allowed to comparison shop at all! They were required to use ONE store that is known to have high prices! And they had to buy everything including health, bath, beauty, and paper goods from this one store!
I know there is more craziness but I can't remember it all. And, I don't want to bother G2 right now because I hear her on the phone with her boyfriend working on it.
Like I said, in theory, a great project! I just want to know how came up with these numbers and how they were pulled out of the air!
I don't know much about personal finances - as you all have seen as I bumble my way through month to month....LOL But, doesn't it make sense that the students should have been given more/better direction?
Anyone have any opinions on this final project? I'm curious....
Also excuse any typos, run-on sentences, etc. I'm hurriedly typing this as my dog is barking her head off for a walk! =)