Financial Planning Project

Financial Planning Project Financial Planning is a project where you will apply the skills learned in class to manage the costs of an event. An event is defined here as any upcoming occasion that will bring changes and/or new experiences and accompanying financial challenges. Examples of events include, but are not limited to (Idea must be verified by instructor): ■ Preparing to move into a dormitory room ■ Hosting a party/other celebration ■ Operating a vehicle for one month ■ Taking a school or personal trip ■ Hosting a family reunion ■ Paying initial costs of a new job ■ Managing costs of attending the prom ■ Paying school expenses for one grade level Participants will select an event, determine the amount they can budget for the event, and prepare an event portfolio to be presented to the instructor. Verfication of event due:__________________ Half way point: ________________________ Presentation day: _______________________ 2008-2009 Independent Living Specifications Portfolio The portfolio is a collection of materials used to document and illustrate the work of the project. Materials must be contained in a 3-ring binder/notebook. A decorative and/or informative cover may be included. The binder/notebook must contain no more than 27 pages: 1 project identification page, 0–5 divider pages, 1–3 profile of event page(s), 3–12 comparison shopping pages, 1–5 event plan page(s), and 1–2 resource summary page(s). All pages must be one-sided only. All pages except divider pages must be 8 1/2” x 11". Project Identification Page Divider Pages One 81⁄2" x 11" page on plain paper, with no graphics or decorations; must include project title, student’s name, class, and date. 0–5 divider pages, may be tabbed; may contain a title, section name, graphics, thematic decorations, and/or page numbers; may be larger than 81⁄2" x 11", but still must fit within cover. One to three pages containing a profile of the selected event; must include type of event; (see examples in event description), a description of the role of needs and wants in the situation, a goal statement(s) for the project, a description of the role of values and/or priorities in the situation, and a summary of challenges involved in developing a workable financial plan. Three to twelve pages; must include evidence of comparison shopping for at least five goods and/or services; graphics may be used; develop your own format. Comparison shopping is defined here as an examination of the costs and features of two or more forms or sources of a specific product or service. One to five pages using the chart format provided (see sample below); must include sources and amount of income budgeted, a list of all products/services to be acquired, sources selected, key features considered, quantities, unit costs, and total costs. Graphics may be used. Summary One to two pages; must include list of all resources, both human and nonhuman, used to complete the project, including sources of product/service information and sources of advice; use an organized, consistent format; include a paragraph at the beginning of the list to summarize what was learned about use of resources while completing the project. Portfolio must be neat, legible, and professional and use correct grammar and spelling. Profile of Event Comparison Shopping Event Plan Resource Appearance DITURES Sample Event Plan Name of Member ____ Iwanna B. Prepared ________ Date____Juvember 32, 20XX_______________ Title of Financial Planning Project _____“Happy Birthday, Sis”_____________ Goal ____ To host a surprise birthday party for my sister and pay all costs myself Income Source Income, part- time job Savins Amt of Income $225 Product NA Service Rent Clubhouse NA Source Local CivicClubhouse Neighborhood Deli Expenditures Key Features Low cost, safe neighborhood, space to dance Low cost, tasty, healthy Quantity 1 day and night 1 to feed 50 people Cost $75-25 (deposit returned) $35 Total Cost $50 $200 Vegetable Tray/Dip $35 2008-2009 Independent Living Oral Presentation The oral presentation should be 5 to 10 minutes in length and is delivered to the class and the instructor. The presentation is to describe research and planning efforts in detail. The portfolio will be used by the participant during the oral presentation. Length of Presentation Creative Introduction Explanation of Financial Situation The presentation should be 5 to 10 minutes in length. Use a creative introduction that immediately captures the interest and attention of the audience. Clearly and thoroughly explain the role of needs, wants, goals, values, priorities, and challenges in the financial situation. Explain a minimum of three decisions that were involved in the financial plan. Speak clearly with appropriate pitch, volume, and tempo. Use proper pronunciation. Use proper grammar and word usage. Use appropriate body language. Deliver oral presentation in an organized, sequential manner; concisely and thoroughly summarize research. Use portfolio to describe all phases of the project. Use original, appealing visuals to enhance the presentation. Summarize ways in which financial planning was helpful. Provide clear and concise answers to evaluators’ questions regarding project. Questions are asked after the presentation. Demonstrate knowledge of financial planning Explanation of Decisions Involved in Financial Plan Voice Qualities Pronunciation Grammar/Word usage Body Language Organization Use of portfolio Visuals Summary Responses to Evaluators’ Questions Knowledge . 2008-2009 Independent Living Financial Planning Event Plan Name of Member _____________________________________________ Date ________________ Title of Financial Planning Project ____________________________________________________ Goal ____________________________________________________________________________ Income Source Amt of Income Product Service Source Expenditures Key Features Quantity Cost Total Cost Total Amount Budgeted _________________ Total to be Spent _________________ Note: Use up to 5 Event Plan pages to include all elements needed for the selected project. Enter the total amount budgeted and the total to be spent only on the last page of the Event Plan. 2008-2009 Independent Living Financial Planning Rubric Student Name ______________________________________________________________________ Date ______________________ INSTRUCTIONS: In the Portfolio Specifications section, check specifications met and total points to enter in the ―Score‖ column. For remaining criteria, circle the appropriate rating and enter each rating in the ―Score‖ column. Provide comments on the page to help participants understand their ratings in terms of strengths and areas for improvement. Verify points total and initial. Evaluation Criteria Portfolio Specifications--- Evaluator’s Comments: Possible Points: 0 to 7 Portfolio Specifications met Check Specifications met. 1 point per specification for a total of 10 possible points. Count checkmarks and enter total number as points in the ―Score‖ column.     Portfolio finished at specified time. All pages printed front side of page only Total number of pages within stated limits 8 ½ ― x 11‖ paper used except for divider pages Descriptors Score  No ―other content‖ on divider pages beyond that specified  All required content included on Project Identification Page  Used required chart format for Event Plan Portfolio Content--- Evaluator’s Comments: Possible Points: 0 to 40 Profile of Event—Role of needs/wants Profile of Event—Goal statement Profile of Event—Role of Values and/or priorities Profile of Event—Description of financial challenges Comparison Shopping—Format Comparison Shopping—Sources identified Comparison Shopping—Key considerations Comparison Shopping—Quantities of goods and services Event Plan—List of goods/Services Event plan—Quantities and costs Resources Summary—Variety of resources Resources Summary—Format used Resources Summary—Summary of learnings 0= Not Included 0=Goal(s) of project not stated 0= Role of values/priorities not stated 1=Role of values stated, but unclear 0= Financial challenges were not described 1= Challenge(s) described, but unclear 0= Disorganized, lacks consistent format 1= Format difficult to interpret 0= No sources stated for goods/services 1= Only 1 or 2 sources identified 0= No key features identified as considerations 1= Identified for up to 1/3 of items 0= No quantities shown 1= Quantities shown for up to 1/3 of items 0= Most needed goods/services omitted 1= Many needed goods/services omitted 0= Quantities and costs not shown 1= Shown for up to 1/3 of items 0= Only one type of resource, no variety 1= 2-3 types of resources, minimal variety 0= Disorganized, lacks consistent format 1= Format difficult to interpret 0= No paragraph of learnings 1= Summary of learnings 1 = Explanation Unclear 2= Explained partially 1=Goal(s) of project stated 2= Role of values partially stated 3= Role of values stated clearly and thoroughly 2= Challenge(s) partially described 3= Challenge(s) described clearly and thoroughly 2= Format understandable, but could be better organized 3= Format clear and effective 2= 3 or 4 sources identified 3= 5 or more sources identified 2= Identified for up to 2/3 of items 3= Identified for up to 100% of items 2= Quantities shown for up to 2/3 of items 3= Quantities shown for up to 100% of items 2= Most needed goods/services listed 3= All needed goods/services listed 2= Shown for up to 2/3 of items 3= Shown for more than 2/3 or all items 2= 24-5 types of resources, some variety 3= 6 or more types of resources 2= Format understandable, but not well-organized 3= Format clear and effective 2= Only partially explained 3= Explained clearly and thoroughly 4= Explained thoroughly 2008-2009 Independent Living Oral Presentation--- Evaluator’s Comments: Possible Points: 0 to 40 Length of Presentation 5-10 min Creative introduction that captured attention immediately Explained financial situation 1. Needs and wants 2. Goal(s) 3. Values and priorities 4. Financial challenges Explained decisions involved in developing financial plan for event Voice qualities—pitch, volume, and tempo Pronunciation Grammar/word usage Body language Organization Use of portfolio (hard copy or electronic) during presentation Summary of ways in which financial planning was helpful Responses to questions Knowledge of financial planning 0= Spoke only 1-2 minutes 1= Spoke only 3-4 minutes 2= Had to be stopped at 10 minutes 3= Spoke 5-10 minutes 0= No introduction 2= Somewhat creative/attention-getting 1= Not effective in capturing attention 3= Creative, captured attention immediately 0= None of the four elements are explained, either partially or in full 1= 1-2 elements explained, either partially or in full 2= 3 elements explained, either partially or in full 3= All 4 elements, but one or more is unclear or incomplete 4= All 4 elements explained clearly and thoroughly 0= Did not mention/explain any decisions 3= Explained one decision 1= Mentioned one decision, did not explain 4= Explained two decisions 2= Mentioned two decisions, did not explain 5= Explained three or more decisions 0= No voice qualities used effectively 2= Two of three used effectively 1= Only one of three used effectively 3= All three qualities used effectively 0= Many words mispronounced 1= Several (3-5) mispronounced words 0= Many errors in grammar/word usage 1= Several (3 to 5) errors 0= Body language detracted from message 1= Did not complement the message 0= Presentation was totally disorganized 1= Presentation was difficult to follow 0= Portfolio not used during presentation 1= Portfolio used only 1-2 times 0= No summary give 1= Summary was ineffective 0= Responses vague/did not answer questions 1= Mixed—some vague, others on target 0= Very little evidence of knowledge 1= Minimal evidence of knowledge 2= Only 1 or 2 mispronounced words 3= All words pronounced correctly 2= Only 1 or 2 errors 3= All grammar/words used correctly 2= Somewhat effective at times 3= Effective throughout presentation 2= Somewhat well-organized 3= Very well-organized, seamless 2= Portfolio used 3-4 times 3= Portfolio used effectively throughout presentation 2= Somewhat effective summary 3= Highly effective summary 2= Clear, but not thorough 3= Clear and thorough 2= Some evidence of knowledge 3= Evidence of thorough knowledge Total Score _________/83 2008-2009 Independent Living