GoVenture Life & Money Tutorial — Personal Financial Literacy and Investing Simulation Game

hey thanks for playing go venture go venture is a very comprehensive simulation-based training program for learning personal financial literacy and investing it includes a number of resources and components it's a very very detailed program and I'm going to review each of these components and resources with you help you understand how to navigate the program and which resources may be best for you now the order in which you might complete the resources and the ones you might choose to complete and will be based on how you approach this course so you may be taking this program as part of a self - self-directed course where you kind of choose on your own what you'd like to do or is guided by some curriculum you may also be taking this as part of a course that's led by a teacher instructor or trainer and in that case that individual will direct you as to what individual resources and components you should complete so I'm going to review all of them with you so when you first log in to go venture you're gonna see this dashboard now this is your personal dashboard and you can see in the upper left here there's a my profile option you can click on that and actually set your name and change the little avatar that represents you and so on we can also see a question mark button that gives you access to learning guides tutorials and help you'll see a group number box here and then you'll see three buttons which gives you access to these particular resources the individual activities investing simulation and the life and money simulation now one of the things you're going to have to do is join a group so when you first join this box here this drop-down selector will be empty and you'll have the choice to join a group and so you'll be provided with a group number that group number will give be given to you by your teacher or instructor training or facilitator or whoever's managing your self-directed course and when you join that group it will turn on one two or all three of these resources that you see down the middle eight are the individual activities investing simulation life money simulations so based on the settings of the group which are set by the person who set up the course they may give you access to all three of these or just one they may also give you multiple group numbers to join so they might give you a group number to start which might only give you access let's say to the individual activities and then they might give you a second group number that might give you access to the life of money simulation or some combination thereof so it's important to know that you will not be able to access these three sections or these three components until you enter a group number up here and you have to get that group number from your instructor or training or facilitator or the person leading your course so when we first start out again depending how you want to go through the program you can dive directly into the individual activities you can go into investing or life and money simulation or you can review the learning guide tutorials and help and I'm gonna recommend we look at the learning guide tutorials and help first because that provides us some good reference materials to start with I should also mention that the investing simulation they see here this option that may also be included in the life of money simulation so again depending on how your group has been set up the life and money simulation could have all the same options and features that are included in investment investing simulation all bundled together with the personal finance or life and money components as well this option the investment simulation this is available if an instructor just wants you to to participate in an investing only simulation with no personal finance decisions to make it also if it's just investing just stocks bonds mutual funds real estate and gold you might just play an investing only simulation whereas if it's broader than that that's where you would actually play the life of money simulation the individual activities are very specific activities generally can be very brief from a few minutes to maybe half an hour to complete and they might be activities like preparing a net worth statement or understanding duck Shinzon a paycheck so very very short brief specific activities that are helpful to know and perhaps due before you enter a full life and money simulation not necessarily required but helpful well let's start by going to learning guides tutorial and help so here we'll see a list of resources that are available to us so the first is some tutorials so you see there's a simulation overview video and I can click that and launch into a video and there may be new videos added by the time you look at this particular training video that we're doing here also one thing to note and go venture is that in go venture anything that is that is orange is clickable so all links that are orange are clickable and you'll see buttons that are clickable as well so as I scroll down I can see there's a learning guide there's an e workbook online activities there's videos your story simulation and instructor guide and if you need help you click on that button and you can reach our team that can help you with any technical issues that you may have so if I scroll back to the top let's take a look at the learning guide first so the learning guide is a very detailed very comprehensive guide text-based that describes everything you need to know about financial literacy personal finance and investing it is over 70,000 words of text which is equivalent to a three to four hundred page book so you know most people you're not going to necessarily read this from start to finish it's you know it's there's a lot there instead it's really helpful as a reference so when you're doing the other resources in go venture you'll see in some cases that are links directly to this learning guide so if you want to take a deeper dive or learn more about a particular topic you can click that link and it'll take you directly to the section in the learning guy here that addresses it so you can learn more about it of course if you do want to browse through the learning guide and review it on your own step-by-step that's certainly available to you as well and it works on all devices including mobile phones so even if you have a small small interface I'll display you'll still be able to read this well and what I'm looking at here is the table of contents so you can see everything is organized well and linked and if you see something of interest you can click on it and it will you know jump you down to that particular section and you can read about that section and once you finish reading it you can scroll back to the top and there's usually a top link here you can click on that and it jumps you right back to the table of contents now the other thing you'll notice in the learning guide is at the at the end of every main section you'll see activity so you see here section 1 section 1 point 5 that subsection is activities section 2 the last section is activity section 3 last section is activities just jump down one of those now activities are PDF printable activities that you can do so normally let me go ahead and click on one of these so this is what they look like so they'll have a place for your name due date or grade and some type of activity in this case it's a it's a definition based activity where you would see a word and then you would write in you know what the pencil or pen you'd write in what the definition of the activity of the that word is and of course all these definitions are found in the learning guide so normally these PDF activities are assigned by teachers in a course so it's not necessarily something that you're expected to do on your own it certainly can be helpful and help you you know learn more about what it is you want to learn about but in most cases these are going to be assigned by instructors as part of a longer-term course if you're doing this as self-directed you can certainly refer to these but you're probably not going to to do them we actually only have we do provide answer keys but they're normally only provided to instructors so again if you're doing this on self-directed learning you're probably not going to use these resources very much but again you can refer to them if you find it helpful all right so that's our learning guy let's go back to our main page here scroll down further then we have an e workbook and the e workbook is kind of an online e-learning module and an entry introduces you to the basics of life and money so as I mentioned the learning guide that we just saw a moment ago 70,000 words three different hire pages you know which is obviously too much for you to just read from start to finish it's better as a reference guide the workbook is really great to start with and just click through it read everything it's large text very easy to read and it introduces you to the basics of life and money it only takes probably about two hours to go through in fact let's go ahead and click on that and we'll take a look at it here it is here personal financial literacy your workbook and I won't read all this you can do that when you're doing it on your own but it takes you through everything in a summary format so instead of the 300 to 400 pages it's learning onto essentially one tenth of that and and the way it works is it presents a concept and in large font large text I can see here and you would flip through and then at the end of every section and each section is very short at the end of every section there's a very simple activity to help reinforce for you what you just learned in the previous section so these simple activities they're basic but they can be very effective and reinforcing what it is that you want to learn and you'll notice at the bottom and you'll notice at the bottom of the workbook is a button that says learn more and if you click on that it will take you to our learning guide and as I mentioned earlier it will not only take you to the learning guide it'll link you and directly to the section that is most relevant to what you're just reading with even more information about that topic so you start with the workbook do the activities you want to learn more you click on the learn more and you just keep going through this II work book and the workbook will save your progress so if you spend a few minutes with it now and then quit and come back another time it will continue from where you left off all right let's go back to our list here so we looked at the workbook online activities so these are individual activities in fact let me let me switch back although we'll stay here online activities there's ten of them and you'll see here a life plan my money profile a net worth activity budget cash flow by cell and so on and what you can do is you can review each activity the life plans - the most fun one because you actually get to build your life plan but the other ones are simple exercises that help you understand key concepts of financial literacy like building a net worth statement for example so what you can do is you can click on this and you can read about how to do the activity it also gives you any background information that you need to do the activity itself so if you have to you know if you want to understand what a net worth activity is it actually explains to you what net worth is here so you don't actually have to go anywhere else or reference anything else to look at this activity so with this what we're looking at here is the basically the the guide to doing the activities but the activities themselves you would access from your dashboard so here we go here's the individual activities we've just been looking at so what we do is we click on these and now you can see there are the activities so if I want to do a net worths exercise I think I can come here and actually do the exercise here now there's generally two ways to do net worth statement one is you can do it on your own personal life using your own numbers and data but if you're you know still not still learning about what net worth is or maybe you're you're young and you don't really have a lot of assets and liabilities to to use as part of this activity what we have is we have a fictional character called Mo Money mo if I scrolled them back to the online activities here if I scroll down to the bottom you'll see there's a section 11 Mo Money

so Moe is a fictional character and we have his profile written out here and based on his profile you can do all of the 10 activities and so his profile is well does it well written to give you the exact information you need to do all 10 of the activities that we've looked at here so for example if you review most profile you'll see Moe's assets and liabilities and you can actually build a network statement using Moe's information and if you're taking this in a self directed course you'll be provided with the correct answer so you can compare what you did with with what the correct answers are for for most profile then if I click back here I can I can access all ten of the activities that I want to do as I mentioned one of the most interesting ones is the life plan and the life plan has a number of goals that you might want to achieve in your life for example you know maybe you want to buy a smartphone or bicycle or get a job or buy a car or take a vacation and what you can do is you can drag an icon on this 20-year timeline you see there's a timeline of 20 years the first year is monthly and then the rest are essentially yearly and you can drag the go along timeline let it go and then it asks you questions about that goal you don't actually have to fill any of these in but of course the more info you do fill in the clear picture you'll get of your life plan and so so you can do this with as many goals as you like and again there is a mo money profile that you can use to do this for mo himself or you can do it for yourself as well so that's what the that's where the 10 activities individual activities come in here so let's go back to our list of tutorials and guides we also have a video section so in the video section click on that what we've done is we found really great videos that are available on the internet so there some of them are offered by PBS television or Stanford University or TED Talks and if you look through you'll see a really interesting list of videos there's maybe 100 200 videos here and you can see the topic and everything is organized by topic and basically you click on the link and it takes you to that particular website that offers that video for you to review and and if we go to the table of contents you can see the contents are organized by topic and you can click on any topic jump down and see the videos available in that topic and you can also see which videos have closed captions that's what this little icon is so if you need closed captions you can see the videos that that do support that as well so videos are a great way to enhance what you're learning and it helps mix it up too so if you're doing some reading if you're doing some activity he's doing some videos it can help you stay engaged in there in your learning then we have a your story simulation so the your story simulation in fact that's probably your story simulation is probably the best place to start your learning because it is a simple text-based simulation it's story based so it keeps you engaged and it's interesting but it and it introduces really simple concepts in a fun way so if I click on the your story simulation it will launch into the simulation itself and this is again really simple it's based on it's based on a story of your life or your fictional life and it walks you through things that might happen in your life so you know this story's about you you live in NGO venture city your goal is to live your life and achieve your dreams and you start off living at home with your family and will soon graduate from school and so basically you would read through the story and every so often it'll introduce you to some important things that are happening in your fictitious life here and ask you to make some choices as well as you go through so it's a really fun way to learn the basics using a narrative story takes about two hours to go through again the this simulation will also save your progress and so if you can only play it for a short period of time and you have to leave and come back your progress will automatically be saved and it'll take you right back to where you left off all right let's go back to our tutorials and guides keep going and we have an instructor guide so if you're an instructor or trainer facilitator you'll find the instructor guide to be very useful to you it explains all the resources much like I'm doing now and provides additional links to other information including including a very detailed curriculum guide that'll help match up how to use go venture in your specific needs so for example if you have ten hours or twenty hours or five hours or forty over a hundred hours of curriculum time you'd like to fill with using go venture it will actually identify all the individual resource and how you can potentially use them to provide that that curriculum time and then again at the bottom is if you need technical help click on that and that will contact our team and we can help you with any technical and for that you need so let's go back to the top and re review this again so we the list of learning guides and activities that we have here so we have the learning guide which is the 70,000 word read for our pages a reference guide to everything you need to know about personal financial literacy investing we have an e workbook which introduces you to the basics in just a couple of hours of flipping through this a workbook and doing really simple exercises activities that are at the end of each section so the e workbook is a great place to start your learning the online activities are activities of ten different activities you may want to do to enhance what you've learned from the book or from the your story simulation we have videos which are really helpful and fun to review and certain concepts if you prefer to learn things through video that can help you the earth story simulation another great place to start your learning I probably recommend you start with your story first your story simulation first and when you complete that do the e workbook and then when you complete that or while you're doing that you may review some videos you may want to do some of the individual activities and then you'll be ready to dive into the simulation and then again the instructor guide and help so let's go back to our dashboard so there's our individual activities are investing simulation or life and money simulation so as I was describing earlier the investing simulation option here is if you want to do an activity based on investing only so no personal finance decisions nothing like that just investing this is one you would do the investing simulation game or if you want to do the full experience with all the personal financial literacy decisions and living your life that's where the life and money simulation comes in and again depending how this is set up for you based on the group that you joined the life and money simulation can't have certain things customized within it so your experience might might be a little bit different than others but what I'm gonna do is we've already looked at the individual activities I won't go into the investing simulation because essentially it's already included in the life and monies and we can access it for access the same features from there so I'm gonna dive into the life and money simulation okay so everyone starts this simulation in the same place so a certain amount of starting cash and the simulation can be played for up to 20 years this is customizable by the trainer facilitator who created your group so you may start with more more money than this or and your simulation may be set for a shorter duration because it could be set anywhere from one year to twenty years and 20 so 20 is the maximum that you can play anyone simulation but you can actually play the simulation multiple times if you join multiple groups so you'll notice how I've already been playing it so I have an option here of resuming where I left off and in most cases that's what you're gonna click so again it saves your progress as you play and then when you come back to it anytime you can resume in some cases depending how your group is set up you may also have the option to start over so starting over will erase all of your results so you want to be careful when you use this you only want to use it if you really truly want to start over when do you want to start over well maybe if you've started and you really haven't you know it really made some great decisions and you're not headed in the right direction maybe you know maybe that might be a good time to start over and other opportunities maybe if you finish the simulation and you enjoyed it and want to do it again and see if you can improve your results or do something differently that's when you can start over as well if your trainer or facilitator created the group has turned this option off then you will not be able to start over unless they either manually reset your account which they can do or they may give you a different group number and when you're giving different group number you may be able to start afresh simulation every group is completely different so when you are given a different group number you're essentially starting fresh in that group so let's go ahead and resume and one one thing we should mention is you want to make sure that your zoom level is set to 100% in your browser and that will make sure that everything appears in the proper layout things aren't kind of bleeding beyond the screen or anything like that so let's go ahead and resume so now if this was the first time I was starting this simulation it would start with a tutorial and the tutorial would walk us through step by step all of the key decisions and options within the simulation itself and it won't let us actually stray from that tutorial so it's a very helpful tutorial takes about 50 20 minutes to get through the tutorial itself but the tutorial is not separate from the simulation it's actually in line with the simulation itself so the things you do in the tutorial are things you were doing in the simulation itself so it's not like you're starting over it's actually part of the experience it's just a guided part of that first 15 to 20 minutes just to make sure that you understand all the features and options available to you because this is a very very comprehensive experience so the premise of the life and money simulation is you get to live your life in this simulated city called goal venture city and make all the financial and life decisions that you want to make and everybody starts the simulation in the same place you are six months away from graduating high school so you're a senior in high school you have six months remaining and in that six month period of time you're encouraged to get a part-time job so you can start saving some money and you can use that money for what's going to come next so once you complete and graduate high school because you're currently in the simulation you're living at home so your expenses are very minimal but as soon as you graduate high school you're expected to move out into your own place and so you'll be able to look around for an apartment or home that you can afford to move into hopefully you will have gotten a part-time job and save some money to open up some more options for you you may also choose to enhance and continue your education you may want to go to college and take a trade or business program or some other program you may want to do a two-year diploma or you may want to pursue a four-year degree and you can in the simulation you can actually pursue masters level degrees and PhDs and so on as you expand your education you'll find that the job opportunities available to you will increase so there'll be more job opportunities and some of those jobs will pay better than others so education can pay off in the simulation just like you can in the real world but you're not required necessarily to that path you can take whatever path you want to take in the simulation that you want now in some cases there will be goals that you will have to achieve so let's take a look at that as our first step in reviewing the simulation so along the bottom is our menu system and this allows us to access different areas of the simulation and you'll also notice again at the very bottom is a learn button and if I click this button it will take me to the learning guide so remember that very comprehensive learning guide that we've already reviewed it will take us to the learning guide and whatever a particular section of learning guide we are reading about or practicing in the simulation itself so let's take a look at goals so the goals are set by my simulation manager so whoever created this particular group and invited me to join this group has set specific goals for me to achieve in the simulation so if you're doing this as part of a instructor-led course or trainer led course you'll want to make sure to achieve all the goals because your grade it's likely dependent on you doing so if you're doing this for self-directed learning you'll want to review what was included in the course as a guide related to the goal the goal so the course may suggest to you that you should try to achieve the goals if you want but it's really up to you whether you want to do so or not again make sure you follow the instructions provided in your course because it can affect your grade so you'll see here there I have a number of goals and there's a little scroll bar here so there's a few dozen different goals that I am expected to achieve all goals in this case are listed as required oh there's one optional here so an optional goal means I don't necessarily have to achieve it but I might earn more points if I do so let's take a look at the goal so the first goal at the top and by the way the goals are not in any priority order the goals are just a list of goals and it's really up to you to determine what order you want to achieve them in and some of them you'll naturally see can be achieved before others or you know there are essentially prerequisites for other goals so first one is pretty simple it says donate $40 or more so donating is you know part of giving back to society and you have the option in this simulation to donate as much money as you want and in this case the goal is degenerate to donate $40 or more and so if you do that you'll achieve that goal and you'll see a little green checkmark like we see with this second goal which is to buy a bond so this is a financial bond if we buy one by year one week five we will achieve that goal in this case I have achieved it so you see a little green checkmark and you can also see it's now bold it also shows me when I was actually achieved it was achieved in year one week one and that happens actually be part of the tutorial it's one of the things you'll do in the Psalter and the guided tutorial and and now I can receive a certain number of points based on that now in my case I'm seeing zero points here that's just because we're doing a demo but in your case you will actually see a certain number of points assigned to each goal and so what's important for you as a player is to visit the screen often to make sure that you are focused on the goals that you need to achieve and that you are achieving them by the time indicated now if you don't achieve them by the time indicated couple of things can happen one is you may get no points at all so if you miss anything even by a week you may get no points or the points may actually be slowly reduced so there may be a grace period where maybe if you're a week or two late achieving the goal you may still get some of the points but not all the points that really depends on how it's set up by the facilitator instructor trainer we set up this particular group so you'll have to reference their grading rubric to figure out what the grace period if any might be on a particular goal while we're on the screen we can also see there's a performance report and we can review a more detailed performance report that has all sorts of information about our achievements while playing the simulation so let's get back to the main simulation again the premise here is we live our life for up to 20 virtual years making financial decisions and trying to achieve our goals and we make our decisions using the menu at the bottom so let's take a quick look at some of these options but first let's let's look at the smartphone so the smartphone is our news device it will show us news about what's happening in the world in some case it might be financial news in other cases it might be an advertisement encouraging us to buy a lottery ticket or something like that just like we're exposed to in the real world and we can look at older news items just by using the buttons here to flip through previous week's now one of things is important to note is the simulation runs in weeks so it doesn't run in days it runs in weeks so you'll see the simulation will advance one week at a time and it's designed to have four weeks in a month and for simplicity it has 48 weeks in a year real world of course has 52 weeks but for for simplicity we have 48 weeks in in this simulation and so you can see on the time advance button here I'm currently in week 7 and I mean year 1 of 20 so the simulation designed to run for 20 years and I'm in week 7 the simulation advances every time I click this button in fact I'm gonna do that right now I'm gonna advance to the next week so let me do that so you see a little animation appears that shows as a calendar going through the weeks and we've now advanced to the next week and what happens now is things have happened behind the scenes in this simulation I've gotten a new news report here you may have noticed a little flutter of points here that that occurred here and I'll explain that in a moment but if I have a job maybe my my pay has arrived because I get paid every two weeks and so maybe I've just gotten paid or if I have rent to pay at the end of every month maybe it's my rent is now due so all the decisions the financial decisions I'm making while running the simulation they will be tied to the clock or the time in the simulation the good news is I have as much time as I want in the current week to make whatever decisions I want to make so I'm not pressured to move quickly I can take my time make my decisions and then click the clock when I want to advance the only thing that will apply time pressure on me is if as part of my course I'm expected to play the simulation for a certain period of time so let's say my instructor might suggest that I have to complete five years of the simulation you know by the end of the week in that case I want to make sure I devote enough time playing the simulation to achieve that time goal I mentioned there's a little flutter of points at the end of the week here so you'll notice these three four charts here these are what are called experience points in fact if I click on this it'll bring up a chart and I can earn experience points there are four types of experience points health experience education experience job experience and life experience and I earn points by doing activities related to health education job and life and earning experience points may be part of the goals that have to achieve so it's an interesting way to follow the things that you've been doing in the simulation to see if you've been getting the most of the simulation by trying to maximize your experience points in all of the areas and again it may be there may be a certain minimum you have to achieve based on the goals set so now we're going to look at the other options in the menu we'll look at cash and banking so here you have your banking so you have cash on hand you have a checking account a savings account and an emergency fund and you can move money between these accounts using the buttons and options here I won't explain the details of what I've built what these all means because that's part of your learning process and you can reference the workbook and the learning guide that'll explain in more detail about banking and you know when you should use these options and so on but this is basically the banking screen in this simulation you can also view your transaction history so anything that you pay that's do you can see anything that any money essentially it's gone in or out of your bank account you can see here and you can also apply for loans so if you need to get a loan for a personal loan you're gonna get a student loan a mortgage for a home or a loan for a car you can actually do it from this screen we can look at our net worth so if part of your learning you're gonna learn what a net worth statement is which is essentially assets minus liabilities and the simulation automatically tracks your net worth in real time as you play so it's a really great way to reference if your net worth is growing over time the way you hope and expect that it would and you'll notice again anything that's orange is clickable so if I see here oh wait a minute I've got bills do $15 worth I can click on that and it takes me directly to the bills due section but we'll go back and show you another way to get there so that's net worth we have investments I'll skip over that for now bills and credits so this is we're back to where our bills are due so we can see bills that are due so right now my only bill is a monthly banking fee of $15 and just to make it easy to pay this I can just click on these options right now if I want to pay the full amount I could click hundred percent and I'll pay it fully if I want to only pay half I can click fifty percent or a quarter twenty five percent so these are nice quick ways of paying bills because you can have you can have a lot of bills due as you live your life and we want to make it nice and easy for you to pay them now of course the first thing I have to do shoes how I'm going to pay so you'll notice I have money in cash I have money in my checking account I have no money in savings and no emergency fund so I can pay this bill out of cash so I can choose cash and then I'm gonna pay the entire bill there we go and now I have no pin no payments due so that's great no bills due I can also review my payment history and anything I've paid in the past as well I have a credit card so I haven't graduated high school yet so I haven't been issued a credit card but when I do graduate I'll immediately be issued a credit card with certain amount that I can apply to the card and has a certain interest rate and of course I want to make sure that if I use my credit card that I use it responsibly and I reach pay the balance that's due when it's due and if I do pay my bills on time if I do manage my credit well I'll have a credit rating that will improve over time and it's helpful to have a good credit rating I can review any loans that I may have so again I can have student loans car loans mortgages for home if I do have those that'll be reviewed here and at the end of every year like any good citizen I have to pay my taxes taxes help make the government run and provide us the services that we need as a society and so here I can monitor the kind of taxes that that are doing payable and I can also see any payroll taxes that have been deducted and what the income taxes are an income tax does change based on the level of income that I have earned or receive okay let's go back so that's bills and credit we can see budget cash flow so budget is another important concept in financial literacy and managing money and I can see a real time budget in cash flow here and again I won't explain these because this is what you're gonna learn through the many resources that are available another big section here is life and money so life and money has a number of options within it so we can see our basic living expenses so you can see I'm living at home so my expenses are essentially zero that's gonna change as soon as I graduate high school I'm gonna have to go live on my own and then I can choose you know how how luxuriously or how frugally I want to live my life and of course if I don't have money you know it doesn't matter how luxurious I want to live my lifestyle gonna have money I can't afford to do it so I might start off with just the essentials and then slowly as my income grows maybe I can live a more comfortable financial life we can buy and sell items so there's many many different items that we can buy and sell so for example you can buy clothing or jewelry or I can also click the next button here and flip through the different things that I can buy so for example if I want to buy a basketball I can click on it and I can see what the price is and there's tax associated with buying that particular item as well and I can also see things like depreciation if there's any XP that I might earn by by buying this item and so on so I can build up essentially a small asset list of items that I'd like to own we're going back to life and family we can decide if we want to have a life partner and if we want to have a life partner we want to have a ceremony and how big should that ceremony be you know a lot of people like to have big ceremonies big weddings that are pretty costly you have to consider you know how you're gonna pay for that in this simulation and so you can you know add a life partner at any time in the simulation children independent so you can add children to your life which will hopefully make your life more fulfilling but it also costs money to raise a child and so that that will occur in the simulation if you choose it and keep in mind that things like growing your family may be part of the goals that are required of you in the goals section that we saw earlier we can monitor our health so our health is based on the experience points a health experience points that that we generate and we can increase health by you know maybe walking places or bicycling to places instead of you know driving a car for example or buying certain items like you know fitness items will help increase our health experience as well I can take a vacation at any time of course I have to be able to afford it but there's different vacations you can click on them to see the the different options and you can buy a vacation when you when you're ready to do so and you can also plan for retirement so this will allow you to do some simple math or the simulation will do the math for you and help you understand how much money you might need to save over your lifetime in order to retire with the lifestyle that you want to achieve so that's our life and family before we go to investments we'll look at a few other options there's jobs so you can see here I have a job and my job was a little checkmark shows me it's a cashier and it shows me what my yearly salary is my weekly pay my employment deductions income tax deductions and so on how much experience points the job is providing and everything that I need to know about the job so this job is paying me a certain amount of 3 in this case 367 dollars every two weeks and I can quit the job if I don't want anymore I can try to change jobs and you'll see that there's a whole list of different jobs and the jobs are based on the type of education you need so you see here if you have a PhD which you know it's not many people have but if you do you can actually get a job as a doctor or university professor or surgeon and so on and and generally there might be a higher salary associated with with jobs like that so you know if you have when you're starting out and you have no education no formal education not even high school education the jobs that you may have available are limited and potentially the the income you'll generate from those jobs tend to be a little bit lower as well or a lot lower depending on what you're comparing it to if you want to upgrade your education you click on the education area education icon and you can see that you're currently trying to get a high school diploma but then as you achieve that diploma right now you'll notice there's a little lock icon because I cannot go to college because I don't have my high school diploma yet but as soon as I do these other options will unlock and if I want to get a trade diploma for example you can see it's two years cost fifteen thousand dollars at 30 hours per week and so that's if I do a full time in some cases I can also do part-time now the benefit of full-time versus part-time is with part-time I can get a part-time job and earn money through my part-time job if it's a full-time education I cannot get a full-time full-time job let's go back and so now we're going to click a few more icons that are here this is my credit rating so as I mentioned earlier if you pay your loans off your credit card your credit rating will improve and you can see the liabilities here that contribute to your credit rating this is our commuting options so right now I'm walking everywhere and you'll notice that it's taking me three hours a day that's every day to walk because I might have to walk to school and I have to walk to work to the gym to socialize with my friends so it's taking a lot of time out of my day but in the benefit I'm getting health experience points because the more I walk the healthier I might be I might become so walking is has its benefits but it also has a drawback and that it takes more time I can upgrade for example to bicycling which might reduce my time or bus public transit but there's a cost associate so I have to go and buy bicycle or I have to buy a transit pass for example or I can buy an automobile but again there's more costs but it will save me time and then the other option we have here is our time and this will show and allow us to choose how we want to allocate our daily time and so you can see there's seven options here we can in this case because I'm in school full time I have to allocate a minimum of seven hours to my education I can allocate more if I allocate more it will increase my education experience but in this but I'm gonna leave it at seven for now I have a job it's part-time so it's four hours a week I can allocate time to sleeping and personal care and nutrition so that's a minimum of eight if you kind of combine all those things in a day but I can you know if I like a little bit longer sleep I can increase my time here but if I do I'm gonna have to sacrifice something else because if there's only 24 hours in a day as you can see here and so as I adjust any of these look the 24 will adjust and I have to make sure it's matching 24 and you can see here's the commute because I'm walking it's a fixed three hours I cannot change that unless I go and choose a faster community option so this allows me to adjust my daily time and it's also a useful learning experience to see what the compromises are of how you invest your time and you know time is a very important decision in your life and then finally we'll go to investments and so here I have a few options one is gambling and it's important to recognize that gambling is not an is not an investment it's essentially considered entertainment because the likelihood of winning are very low but it is part of real life so it's included in the simulation here and you can buy a lottery ticket and see if you win of course the odds of winning are very low just like the real world but you can do that if you like you can donate money as we saw earlier making a small donation was one of the goals in this particular simulation that I'm playing but but it's really up to me whether I want to donate it how much I want to donate and then finally we have investment so investments is one way to make your money work for you and make your money grow and so if I click on investments I can see their stocks bonds mutual funds real estate and precious metals I've already invested in some stocks and bonds and so you can see some of the performance that's going on here I can look at the markets by clicking on the markets button and if I want to invest in any particular security I can click on it for example stocks and you can see here there are a number of stocks these are fictitious stocks but they perform like real-world stocks and they will their prices will adjust over the period of time in which I'm playing the simulation and their prices will adjust based on what's happening in the economy same with bonds mutual funds real estate and precious metals which in this case is gold they will what affects them is things like the economy so if I go to the economy I'll see there are economic indicators like economic growth inflation unemployment and prime rate and these will influence the performance of investments for example historically when interest rates go up the prices of bonds may tend to go down there's a reason for that you can read about that in the learning guide and other resources available here but generally what happens in the real world will happen in the simulation because the the investment data is actually based on real-world historical data that aligns with the economic indicators that happen in the simulation itself but the real benefit of having all this in a simulation you can experience many many years of economic ups and downs and fluctuations over time so you can really get an understanding of how money grows and potentially shrinks using different types of investments and so you can monitor your portfolio and your return on investment in that portfolio as you play the simulation so that's all the main areas of the simulation again the premise now is you live your life you can go in any direction that you want to go in make whatever decisions you want to make again keep in mind the goals here that you may be required to achieve based on the course that you're taking and and live your life week by week year by year and hopefully achieve as much as you'd like whatever your path in life tends to be so we've reviewed co-venture and all of the many resources and components involved with the program as you can see is very comprehensive and you can you know take the path that we've recommended for you or take whatever path is most comfortable for you our hope is that you will gain the insight and the wisdom to make the best personal financial literacy and decisions you can make to achieve your goals in life thanks for listening