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JA Finance Park Simulation Overview
JA Finance Park Simulation Overview
JA Finance Park Virtual helps students build a foundation on which they can make intelligent financial decisions that last a lifetime, including decisions related to income, expenses, savings, and credit.
In the virtual simulation, students will:
Select their own avatar and interests.
Review information about career clusters to select their career path and education.
Set up to three savings goals for future items such as homeownership or dream car.
Research, shop, and pay for various categories.
Make financial decisions across multiple life stages.
Choose their own future as it relates to marriage, children, and pets.
Track progress of their budgeting, spending, and saving through a financial health meter.
Content Statement
Content Statement
Through JA Finance Park the following Ohio Financial Literacy Content Statements are addressed:
Through JA Finance Park the following Ohio Financial Literacy Content Statements are addressed:
Statement 1: Financial responsibility entails being accountable for managing money to satisfy one’s current and future economic choices.
a. Identify responsible ways for managing money for short- and long-term goals.
b. Describe actions that are both responsible and irresponsible uses of money.
Statement 2: Financial responsibility involves lifelong decision-making strategies which include consideration of alternatives and consequences.
a. List financial decisions made at different stages of life and factors that will affect those decisions.
b. Explain how education and career decisions affect incomes and job opportunities.
c. Understand there are positive and negative consequences for all financial decisions.
Statement 3: Competencies (knowledge and skills), commitment (motivation and enthusiasm), competition (globalization and automation), training, work ethic, abilities and attitude are all factors impacting one’s earning potential and employability.
a. Identify how various training and education options beyond high school can further one’s employability.
b, Explore individual interests and skill sets to identify potential careers and opportunities to pursue.
c. Explain how one can become more employable through training and education.
Statement 4: Financial responsibility includes the development of a spending and savings plan (personal budget).
a. Compare and contrast different sources of income, including wages and salaries.
b. Identify individual and larger economic changes that may cause monthly income to fluctuate.
c. Research the average costs of all expenses associated with a four-year college education, a wedding and a new versus used car.
Statement 5: Taxes, retirement, insurance, employment benefits, and both voluntary and involuntary deductions impact take-home pay.
a. Calculate the difference between net pay and gross pay of a fictional employee.
b. Compare [several] sample paystubs and the different deductions. Some are pre-tax, such as Flexible Spending Accounts (FSA) or Healthcare Savings Accounts (HSA), that are included and will result in reduced personal tax liability.
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