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Personal Finance
Quick Reference
   by Jason Lansing

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  Growing up is a   scary adventure. As you grow up you will be
  responsible for paying your own bills, buying or renting your own

  place to live, buying or renting your own car, and paying for all the

  other expenses that go along with being a grown-up.

  This WebQuest is a semester project designed to      prepare you for
  leaving the nest. By the end of this term,   you will be able to feel
  confident when making thebig decisions in your life so you can make
  smart decisions, avoid getting ripped off, and build your wealth.

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The Task:
  First, compile information and resources into a
  handbook that you can reference later in life when
  you are making important financial decisions.
  Topics that will be studied and included in the
  handbook will be banking and lending, credit,
  insurance, investment and retirement planning, and

  Second, Don’t panic! I will be guiding you through each
  step of this quest as we build on this project
  throughout the whole semester.

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The Process:
  You will learn about each of the topics using Internet resources as well
  as using Microsoft Excel to develop charts, graphs, and tables to show
  comparisons. In order to learn about building personal wealth,
  different projects will be assigned to develop real life examples that
  you can reference later.
  Example Assignments:
  Interest Payback
  Go to: http://www.bankrate.com/ and use the interest calculators and
  then complete an analysis on Excel graphing the interest payback
  when paying the minimum and over the minimum for credit cards,
  home mortgages, and auto loans.
  Go to: http://www.myfico.com/Default.aspx and list the 5 categories
  that a credit score is made of and give two examples for each on how
  you can improve your credit score in those categories.

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More Examples:
 Buying a Home
 Go to:
 html and identify the unique characteristics about 6 different home loan
 products and give two scenarios where each home loan product would
 be the best fit for a person/family. Also, write a list of steps to follow
 when buying and selling a home.

 Go to: http://www.ruhlhomes.com/ to research a house you would like
 to buy. Next, use Excel to develop two amortization schedules for
 paying the house off. One table will be for a longer term and the other
 will be for a shorter term so you can compare interest payback and
 payment options.

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More Examples:
 Go to: http://www.iii.org/ Research about the different types of insurance.
 Make a list of 10 types of insurance you may want to have when you are
 on your own. Describe what each type is and what it covers, what the
 typical cost is, and why you would need that type of insurance. Another
 project for this site would be listing 5 types of life insurance and describe
 two scenarios why it would be beneficial to have.
 Make a monthly budget using your house payment and car payments
 from previous assignments. Now go to:
 http://www.scientificpsychic.com/alpha/money.html Read and
 thoughtfully consider the information from the article. Now, develop a
 second budget and write about what you changed and why.

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More Examples:
 Buying vs. Renting/Leasing
 Go to: http://www.leaseguide.com/lease03.htm and read about buying
 and leasing a vehicle. Research a car you would like to drive and
 make an analysis between buying or leasing it. Make the assumption
 that you need to take out a loan to buy the vehicle.

 Research using the Internet advantages and disadvantages of buying
 and renting a place to live. Use numbers to demonstrate in a chart the
 benefits and challenges of buying versus renting. Also, describe two
 situations each where it would be beneficial to buy and two where it
 would be beneficial to rent.

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Each assignment will be graded separately based off of the rubric below.
                            Personal Finance Handbook Assignment Rubric

            CATEGORY         10-9                      8-7-6                     5-4                      3-2-1
         Content/Accuracy    All components of the     99-90% of the             89-80% of the            Fewer than 80% of
                             project are complete      components are            components are           the components are
                             and accurate. All         complete and              complete and             complete and
                             questions are             accurate, and/or all      accurate, and/or not     accurate, and/or only
                             addressed and             detailed questions        all detailed questions   1 or none of the
                             answered completely.      were addressed            were addressed.          detailed questions
                                                       briefly.                                           were addressed.

         Originality and     The project reflects an   One or two of the         The elements of the      None of this project
         Creativity          exceptional degree of     elements used in the      project are made by      was made by the
                             student creativity in     project reflect student   the student, but are     student. This project
                             their creation and/or     creativity in their       based on the designs     has been copied,
                             display.                  creation and/or           or ideas of others.      plagiarized, or
                                                       display.                                           completed by another

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The compilation of the final project will be graded based off of the rubric below.

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  I work hard for my money and some day you will too. This semester-
  long project is designed to prepare you for living on your own and

  managing your money successfully. You will learn about many tools

  and resources that will help you compare and contrast different

  products and situations so you can find the best deal possible for

  your situation. Best of luck to each of you in your quest to build a long

  and successful financial future.

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