Question: What is a Personal Finance simulation?
Answer: A Personal Finance simulation allows students to fine-tune their decisions when they encounter real-life scenarios while taking a Personal Finance course.
The authors of Personal Finance, 14e and Focus on Personal Finance, 7e have partnered with StockTrak.com to provide students with an interactive learning experience before they leave the classroom.
The simulation that accompanies the Kapoor Personal Finance texts includes two components–a personal budgeting simulation and an investing simulation.
The Budgeting Simulation
- Students assume the role of a full-time employee or part-time employee living on their own.
- Over a virtual 12-month period, students review their estimated income and expenses, create monthly budgets and savings goals, and try to build an emergency fund. Each month takes about 20 minutes to complete.
- Each month students manage their checking, savings, and credit card accounts as they deal with life’s expected and unexpected events that affect their budget.
- Within the simulation, additional personal finance tutorials are available to make sure students are learning about budgeting, banking, credit, employment, taxes, insurance, and more.
- A class ranking based on net worth, credit score, and quality of life keep the students fully engaged and professors informed of each student’s progress.
The Investing Simulation
- Students receive a virtual $25,000 in a brokerage account.
- They can research U.S. stocks, ETFs, bonds and mutual funds and create their own investment portfolio.
- All investment trades are based on real-time market prices.
- Within the simulation, interactive tutorials help students get started and provide additional information during the simulation.
- Students can monitor their performance versus their classmates. At the same time, professors can track each student’s progress.
And BEST of ALL, with the new partnership between Stock-Trak and McGraw Hill, classes using the Kapoor Personal Finance textbook get a 50% savings when students register for the simulation – only $9.99 per student instead of retail price of $19.99.
- Visit StockTrak.com/kapoor to learn more about the Personal Finance Budgeting and Investing Simulation. You can learn even more by watching a short video or accessing the Kapoor demo materials located toward the bottom of the above site.
- It’s easy to get started. All you need to do is access the above site, register your classes for Spring 2023, and indicate the dates you want your student to have access to the Personal Finance Simulation. The site will generate a unique link for you to give to your students.