The City
Module 2 – Alberta
module 2 – alberta
lifestyle reality check
Overview
TIP
Students will:
• completeaquestionnaireontheirfuturelifestylegoalscomparing
expensestoarealisticincomelevel
• discusstheneedforarealisticunderstandingofpersonalfinances
Thequestionnaireshowsstudentsthattheyneedarealisticvisionof
theirfuturelifestyleinordertomakeachievableplansfortheireducation
andcareer.
C
UsethismoduletoteachLearningOutcomesincurriculumareassuchas:
• CareerandLifePlanning
• Life/WorkTransition
• ApplicationsofMath,ConsumerMath
Foradetailedlistingbyprovince/territoryandcourse,refertoLearning
Outcomesontheeducatorpagesatwww.fcac.gc.ca, Educational Programs > The City.
OutcOmes
Studentswillbeableto:
• describeaspectsofthelifestyletheyenvisionfortheirfuture
• discusshowfinancialskillscanhelpthemachievepersonallifestyle
goals
• comparesomeexpensesfromthelifestyletheyenvisionwithrealistic
incomelevels
• prepareforsubsequentactivitiesleadingtoModule10(FinancialPlan)
M
• copyforeachstudentof
+Handout2-1,LifestyleRealityCheck(alsoavailableonlineat
www.fcac.gc.ca, Educational Programs > The City,Module2)
+Handout2-2,LifestyleRealityCheck–AnswerSheet
+Handout2-3,QuickQuiz–LifestyleRealityCheck
• overheadprojector,ifusing
© British Columbia Securities Commission 2004-2008
I
• onelesson(approximately45minutes)
preparatiOn
• Ifstudentshavedevelopedastatementoftheirpersonaleducation
andcareergoalsinpreviouscareercounsellingclasses,askthemto
bringtheirgoalstotheclass.
K
lifestyle,reality,goals,choices
2.1
2.1
The City
Module 2 – Alberta
module 2 (cont'd)
S
1.Reviewstudents’educationandcareergoals.
a)Havestudents:
• Reviewtheeducationalandcareergoalstheydevelopedinother
courses.
• PlaceastatementoftheirgoalsintheirFinancialLifeSkillsbinderor
portfolio.
ALTERNATIVE:Ifstudentshavenotalreadydevelopedtheireducation
andcareergoals,havethem:
• Writeoneortwosentencestocompletethefollowingstatements:
+Thecareergoalformylifeis:
+TheeducationorpreparationIneedtomeetmycareergoalis:
• PlacethestatementoftheirgoalintheirFinancialLifeSkillsbinder
orportfolio(asdescribedinModule1).
b)Pointoutthatstudents’goalsmaychangeastheyreviewtheir
choices,buttheycanusetheirstatementtocarryoutthefinanciallife
skillsactivitiesthatfollow.
2.Askstudentswhattheword“lifestyle”means.
a)Explainthatlifestylemeansthewaypeoplechoosetolivetheirlife,
includingwheretheylive,howtheydress,whatworktheydo,what
theydoforentertainment,etc.
b)AskforsomeexamplesofmodernlifestylesinCanada.E.g.,
• A rural lifestyle involves living in or near a small town, often in
resource-based occupations, often with outdoor forms of recreation
and more limited choices in entertainment.
• Anurbanlifestyleinvolveslivinginalargercity,ofteninan
apartment,withanofficeorservicejob,andachoiceofmovies,
concerts and other events for entertainment.
3.Havestudents:
• GototheLifestyleRealityCheck(atwww.fcac.gc.ca, Educational Programs
> The City, Module2).
• Completethequestionnaireonline.
• Printouttheresultsofthequestionnaire.
© British Columbia Securities Commission 2004-2008
ALTERNATIVE:DistributeHandout2-1,“LifestyleRealityCheck,”and
havestudentscompletethequestionnaireonpaper.
4.LeadaclassdiscussionabouttheresultsoftheLifestyleReality
Check.Promptdiscussionwithquestionslikethefollowing:
• WhatsurprisedyouabouttheresultsoftheLifestyleRealityCheck?
+ Answers will vary.
• Woulditbeeasiertochangetheexpenseitemsyouchoseorto
changetheincomeyouneed?
+ It is generally easier to manage expenses than to increase your
income level, especially in the short term.
• Areallthechoicesyoumadeessential,orcantheybechangedto
reduceyourexpenses?
+ Answers will vary.
2.2
2.2
The City
Module 2 – Alberta
module 2 (cont'd)
• Willyourcareeroroccupationprovideenoughincomeforthe
lifestyleyouwant?
+ Answers will vary.
• Doyouhavetheknowledgeandskillstomakethefinancialchoices
tosupportyourlifestylegoals?
+ Mostpeoplelearnfinanciallifeskillsbytrialanderrorandby
making costly mistakes. By learning these skills in school, you can
gainknowledgeandconfidencetodeveloptheskillsyouneedina
safe environment.
• Howcouldgoodfinancialskillshelpyouachieveyourlifestyle
choices?
+ Whatever your goals, you will need money to reach them. The
betteryou’reabletoplanandmanageyourfinances,themore
likely you’ll be to reach your goals.
Option:HavestudentsrevisetheiranswerstotheLifestyleReality
Checkandseehowtheirchangesaffecttheoutcome.
5.DistributeHandout2-2,“LifestyleRealityCheck–AnswerSheet.”
Havestudentscompletequestions1and2.
6. Home Connections.Havestudents:
• TakehometheirLifestyleRealityChecksheet.
• Discusstheirpersonalgoalswiththeirparentsoranotheradultand
discusshowtheirfamilycansupporttheminachievingthosegoals.
• WriteasummaryoftheirdiscussiononHandout2-2,“Lifestyle
RealityCheck–AnswerSheet.”
• AddthehandouttotheirFinancialLifeSkillsbinderorportfolio(as
describedinModule1).
© British Columbia Securities Commission 2004-2008
TIP
2.3
2.3
The City
Module 2 – Alberta
module 2 (cont'd)
E
• Duringtheclassdiscussion,ensurethatstudentscan:
+describesomeaspectsofafuturelifestyletheyenvisionfor
themselves
+comparetherelatedexpensestoarealisticincome
+discusshowfinancialskillscanhelpthemachievepersonallifestyle
goals
• Reviewthestudents’Handout2-2,“LifestyleRealityCheck–Answer
Sheet,”toensuretheycan:
+describeaspectsofafuturelifestylethey’dliketohave
+listthingstheylearnedabouttherealityoftheirpreferredlifestyle
• DistributeHandout2-3,“QuickQuiz–LifestyleRealityCheck,”and
havetheclasscompletethequiz.Correctanswersareasfollows:
1) Definethewords:
lifestyle: Answer: A way or style of living; your normal habits,
pastimes, attitudes, standard of living, etc.
goals: Answer: Aim, purpose or ambition
2) Nametwoofthepossiblecareerchoicesthatwillprovideenough
incomeforthelifestyleyouwant.
Answers will vary.
3) Describeonewaythatcareerchoiceaffectslifestyle.
Answer: Career choice can affect where you live, your income, the
money you have to pay for education and the lifestyle choices that
are realistic.
4) Describetwoaspectsofafuturelifestyleyou’dliketohave.
Answers will vary.
5) Whyisalifestylerealitycheckausefulpartoffinanciallifeskills?
Answer: Financial life skills must be based on a realistic
understanding of an individual’s income and expenses.
E
© British Columbia Securities Commission 2004-2008
• Havestudentsusemagazineordigitalimagestocreateacollage
orvideoillustratingthelifestylethey’dlikeforthemselves,and
summarizeinafewwordsorsentenceswhattheirfuturelifestyle
mightbe.
• Havestudentsgatherpicturesofdifferentpersonalpossessionsand
placethemincolumnslabelledLifestyleDreamsandRealityCheck,
accordingtowhetherornotthey’rerealisticforthem.
• Havestudentsresearchanddebatethepropositionthatlifestyle
dreamsarenecessarytosetrealisticpersonalgoals.
2.4
2.4
The City
Module 2 – Alberta
HANDOUT 2-1
+
+
LIFESTYLE REALITY CHECK
+
+
Name: _______________________________Class/Block: __________ Date: ______________
STEP 1:
Choose where you'll live when you leave
high school. Then enter the amount
appropriate for your area, using the
figures given as a guide.
Estimated average costs for
Alberta youth after high school
YourBudget
Budget
Your
Large
LargeCity/
City/
Urban
Centre
Urban Centre
Rest
ofof
Rest
Alberta
Alberta
Costs
per month
month
Costs per
Housing
Housing
At
with
parents
Athome
home
with
parents
One-bedroom
apartment
One-bedroom
apartment
Share two-bedroom apartment with roommate
______________
____________
______________
____________
______________
Transportation
Transportation
New car – Toyota Matrix
New car – Toyota Matrix
Used car – 2002 Chevrolet Cavalier
Used car – 2002 Chevrolet Cavalier
Public transit – monthly pass
____________
197
197
1,239
1,239
668
668
______________
____________
______________
____________
______________
813
813
526
526
82
Food
Food
Eat at apartment only
Eat at apartment only
Eat at apartment and eat out occasionally
______________
____________
______________
232
232
344
Utilities
Utilities
Electricity
Electricity
Heating
– electric
Heating
– electric
Heating – gas
/ oil
______________
____________
______________
____________
______________
44
54 44
44 54
Telephone
Telephone
Local
(basic service)
Local
(basic (talk
service)
Long
distance
a little)
Longdistance
distance
(talk
a little)
Long
(talk
a lot)
Cellphone
(local)
Long distance (talk a lot)
______________
____________
______________
____________
______________
______________
____________
41
5 41
22 5
44 22
Cellphone (local)
Computer
Computer
Hardware
Software
Hardware
Internet
connection
Software
____________
44
415
5
22
44
22
44
______________
______________
____________
______________
____________
98
27 98
38 27
98
27
98
38
27
Clothing
Internet connection
Shop
a little
Clothing
Shop
lotlittle
Shopa a
______________
______________
____________
Health
Shop acare
lot
Medications
and dental
Health care
Glasses/lenses
Medications and dental
______________
______________
____________
Insurance
Glasses/lenses
Medical
premiums (if not under parents’ plan)
Insurance
Apartment
contents insurance
Medical premiums
(if not under parents’ plan)
____________
11
______________
______________
____________
48
27 48
____________
27
Share two-bedroom apartment with roommate
Public transit – monthly pass
Eat at apartment and eat out occasionally
© British Columbia Securities Commission 2004-2008
Heating – gas / oil
Apartment contents insurance
+
____________
____________
____________
____________
____________
82
344
44
38
50
191 50
191
30
11 30
184
184
852
852
426
426
774
774
514
514
0
0
238
238
351
351
44
44
54
54
44
44
41
38
46
191
46
191
39
13
39
13
48
22
48
22
+
2.5
2.5
The City
Module 2 – Alberta
HANDOUT 2-1 (cont'd)
+
+
LIFESTYLE REALITY CHECK (cont'd)
+
+
Rest of
Rest of
Alberta
Urban Centre
Entertainment
Alberta
Entertainment
Cable(basic)
(basic)
Cable
Movies
(and
popcorn,
Movies
(and
popcorn,
etc.)etc.)
Rentals:
video
/ DVD
/ games
Rentals:
video
/ DVD
/ games
Purchases:
music
Purchases:
music
Purchases:
video
/ DVD
/ games
Purchases:
video
/ DVD
/ games
Concerts
and
professional
sports
Concerts and professional sports
Night
/ pubs
Nightclubs
clubs
/ pubs
____________
______________
____________
______________
____________
______________
____________
______________
______________
____________
______________
____________
______________
____________
38 38
61 61
33 33
35 35
21 21
49 49
71 71
38
38
58
58
33
33
35
35
21
21
49
49
71
71
Recreation
Recreation
Sports
/ equipment
Sportsfees
fees
/ equipment
Lessons
Lessons
Health
membership
Healthclub
club
membership
______________
____________
______________
____________
______________
____________
27 27
16 16
49 49
27
27
16
16
41
41
Personal
Personal
Haircut:
man
Haircut:
man
Haircut:
woman
Haircut:
woman
Manicures,
etc.
Manicures,
etc.
Makeup
Makeup
Personal care (shampoo, soap, etc.)
Personal care (shampoo, soap, etc.)
Dry cleaners
Dry cleaners
Laundry at laundromat
______________
____________
______________
____________
______________
____________
______________
____________
______________
____________
______________
____________
______________
22 22
34 34
22
22
27
27
16
16
22
22
22
Education (tuition, fees, books, etc./ 12 mos.)
Education (tuition, fees, books, etc./ 12 mos.)
University
University
College / University College
College / University College
Technical
16
16
30
30
22
22
24
24
16
16
16
16
22
22
______________
____________
______________
____________
______________
484
484
429
429
400
Other
Other
Banking fees
Banking fees
Newspapers
Newspapers
Books / magazines
Books / magazines
Religious / charity
Religious / charity
Gifts
Gifts
Pets
Pets water service
Bottled
Bottled
water
service over year)
New
furniture
(averaged
Used
(averaged
overover
year)
Newfurniture
furniture
(averaged
year)
Travel:
low-cost
vacation
by
car
(save
per month)
Used furniture (averaged over year)
Travel:
vacation
including
plane
fare
(save
per month)
month)
Travel: low-cost vacation by car (save per
484
429
429
400
400
______________
____________
______________
____________
______________
____________
______________
____________
______________
____________
______________
____________
______________
____________
______________
______________
____________
______________
____________
______________
____________
16
16
24
24
19
19
5
27 5
33 27
34 33
316 34
119
316
44
119
229 44
Travel:
vacation
including
plane
fare (save
Enter
any
missing
expenses
directly
here:per month) ____________
________________________________________
Enter any missing expenses directly here: ______________
________________________________________
______________________________________________________
____________
________________________________________
______________
________________________________________ ____________
229
Laundry at laundromat
Technical
© British Columbia Securities Commission 2004-2008
Large City/
Large City/
Urban Centre
____________
____________
22
400
484
16
16
16
16
19
195
5
27
27
33
33
30
30
451
169
451
44
169
229
44
229
________________________________________ ____________
______________
______________
Total Expenses:
____________
____________
Enter
total
expenses
in
Box
B
of
Step
3.
Enter total expenses in Box B of Step 3.
Total Expenses:
+
+
2.6
2.6
The City
Module 2 – Alberta
HANDOUT 2-1 (cont'd)
+
+
LIFESTYLE REALITY CHECK (cont'd)
+
+
© British Columbia Securities Commission 2004-2008
STEP 2:
+
Choose an occupation and enter average monthly
take-home pay in Box A of Step 3.
Average monthly take-home pay*
(after payroll deductions)
Food and beverage servers**
Light duty cleaners
Retail salespersons and clerks
Cooks
Bakers
Tour and travel guides
Early child educators and assistants
Chefs
Dental technologists and technicians
Recreation and sport administrator
Bookkeepers
Secretaries (except legal and medical)
Construction trades helpers and labourers
Paralegal and related occupations
Hairstylists and barbers
Ministers of religion
Graphic designers and illustrators
Correctional service officers
Web designers and developers
Carpenters
Truck drivers
Welders and related machine operators
Automotive service technicians and truck mechanics
Physiotherapists
Authors and writers
Insurance agents and brokers
Managers in publishing, motion pictures, broadcasting
and performing arts
Specialists in human resources
Photographers
Motor vehicle body repairers
Industrial electricians
Steamfitters, pipefitters and sprinkler system installers
Registered nurses
Computer programmers & interactive media developers
Secondary school teachers
RCMP officers (after 36 months of duty)
Psychologists
Real estate agents and salespersons
Financial and investment analysts
Pharmacists
Civil engineers
Lawyers
Government managers - health and social policy
development and program administration
1,451
1,799
2,956
1,843
2,245
2,117
1,722
2,469
3,191
3,063
2,854
2,736
2,761
3,160
1,918
3,153
3,442
3,478
3,119
2,921
3,592
3,912
3,477
4,360
4,180
3,361
3,533
* Source: Statistics Canada Census 2006 (adjusted by FCAC for estimated wage increases and deductions)
** Doesn't include tips
Income is reduced by as much as 40% to allow for income tax and related deductions.
Assumes full-time employment. Part-time employment would have a lower average monthly salary.
4,711
2,550
3,086
5,306
4,634
4,435
4,676
4,355
5,389
4,963
5,044
5,890
6,727
6,600
8,904
4,658
+
2.7
2.7
The City
Module 2 – Alberta
Handout 2-1 (cont'd)
+
+
LIFESTYLE
+
+
S
Your chosen career from Step 2
____________________________________________
Your monthly take-home pay from Step 2
_____________ BoxA
total monthly expenses from Step 1
_____________
Box B
monthly difference
_____________ (AminusB)
Note: If the difference is positive, you can add it to your monthly savings.
If it’s negative, you can’t support your lifestyle with this career.
© British Columbia Securities Commission 2004-2008
Note: You may not get full time work or top salaries right away, especially if you’re pursuing your education.
If you’re paying for a family, your expenses will be much higher.
+
+
2.8
2.8
The City
Module 2 – Alberta
Handout 2-2
+
+
LIFESTYLE
+
+
Name:_______________________________Class/Block:__________Date: ______________
1.Describethefuturelifestyleyou'dliketohave.(E.g.,Wherewouldyouliketolive?Whatkind
ofworkyouwouldliketodo?Whatrecreationandentertainmentwouldyouchoose?)
Continueonthebackifyouneedto.
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
2.ListthreethingsyoulearnedbydoingtheLifestyleRealityCheck.
1. ____________________________________________________________________________
______________________________________________________________________________
2. ____________________________________________________________________________
______________________________________________________________________________
3. ____________________________________________________________________________
______________________________________________________________________________
3.WriteasummaryofyourdiscussionwithyourparentsoranotheradultaboutyourLifestyle
RealityCheck.Howcantheyhelpyouachieveyourgoals?
© British Columbia Securities Commission 2004-2008
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
+
+
2.9
2.9
The City
Module 2 – Alberta
Handout 2-3
+
+
QUICK
+
+
Name:_______________________________Class/Block:__________Date: ______________
1.Definethewords:
a.lifestyle _____________________________________________________________________
b.goals _______________________________________________________________________
2.Nametwoofthepossiblecareerchoicesthatwillprovideenoughincomeforthelifestyle
youwant.
______________________________________________________________________________
______________________________________________________________________________
3.Describeonewaythatlifestyleaffectscareerchoice.
______________________________________________________________________________
______________________________________________________________________________
4.Describetwoaspectsofafuturelifestyleyou'dliketohave.
______________________________________________________________________________
______________________________________________________________________________
5.Whyisalifestylerealitycheckausefulpartoffinanciallifeskills?
______________________________________________________________________________
© British Columbia Securities Commission 2004-2008
______________________________________________________________________________
+
+
2.10
2.10