Virtual Business Project #2
SITUATION:
You are just entering a new city. You have no work experience. You are a high school graduate but have no education beyond that. You have $5,000 in cash. You must rent an apartment before taking other actions. However, you can browse the city to find the location of jobs, bus lines, classes, etc. Surprises include layoffs, robberies, and car breakdowns.
GOAL:
Become a Vice President of IT AND have a Net Worth of $50,000
After you have reached the goal save your sim (IN YOUR STUDENT FOLDER) as VBp2, and tell the instructor you have completed the project.
HOW TO BEGIN
1) Review the entire Actions section of the tutorial.
2) Start Virtual Business - Personal Finance and choose New Career Project.
3) Click Standard City.
HINTS
– Remember to monitor the Message Center and your Health report.
– Don’t forget to buy food and eat!
– Your bills will arrive on the 28th of each month. You must pay them before the 28th of the next month.
– Having some basic household items can help you sleep, relax, and exercise more efficiently.
– Walking to work or class can count as exercise.
– If you’ve decided to take the bus but walking would be faster because of the location of the bus line, your person will automatically walk.
– If you buy or lease a car, don’t forget about car maintenance.
– Opening a credit card account will help to increase your credit score as long as you pay your bills on time.
– After you’ve gone through one year of the simulation, don’t forget to file your taxes before April 15th to avoid IRS penalties.
– Jobs around the city can change their rate of pay, so look around and consider switching.
– Consider using insurance to decrease the risk of large financial losses.
LEVEL 2
After you have a net worth of $25,000, some of the jobs in the city will add 401K retirement plans and health benefits! You will also be able to use online banking to simplify your life.
You now have one additional health factor to consider. You must maintain an active social life by hosting and attending gatherings with your friends! You also have the opportunity to invest in four different types of mutual funds: money markets, bonds, US stocks, and global stocks. Additional surprises include unexpected health problems and car accidents.
HINTS
– Use online banking to schedule recurring payments of regular bills so you can concentrate on building wealth.
– Use Invest under Actions to invest and grow your money. Although these investments may be riskier than a savings account, your money will likely grow faster.
– You may want to switch jobs because some jobs now offer 401K retirement plans and health insurance. A 401K is a great way to build long-term wealth.
– Your taxes will now be done by an accountant! When she sends your tax return summary in January, be sure to file it.
– Remember to host or attend a party about once a month to keep your social life “in the green” on your health report. To be invited to parties, you must host parties!