Instructions
Welcome to the Financial Frontier! Today, you are the financial manager of your own adventure. You have saved up $100.00 for a day trip to the Adventure Quest Theme Park.
Your goal is to plan your day, make smart purchasing decisions, and see if you can return home with some savings. Follow the steps below to complete your budget, analyze deals, and make tough financial choices.
- Read each section carefully.
- Use the tables and spaces provided to write your calculations and answers.
- Complete the challenge section at the end if you want to test your master budgeter skills!
Section 1: The Adventure Budget
Before you step through the gates, you must budget your $100.00. Below is a list of items you must or might buy. You must buy at least a ticket and lunch. The rest of the money can be allocated to souvenirs, snacks, games, or saved.
Example Row: Look at the first row to see how to record your budget plan.
| Item | Category | Estimated Cost | Actual Choice Cost | Leftover Budget ($100 Starting) |
|---|---|---|---|---|
| Example: Water Bottle | Drink | $5.00 | $4.00 (brought own) | $96.00 remaining |
| 1. Park Entry Ticket | Required | $45.00 | ||
| 2. Lunch Meal Deal | Required | $15.00 | ||
| 3. Arcade Game Tokens | Optional | $12.00 | ||
| 4. Souvenir T-Shirt | Optional | $22.00 | ||
| 5. Afternoon Ice Cream | Optional | $6.00 | ||
| 6. Emergency Rain Poncho | Optional | $8.00 |
Write down your final planned savings (money not spent from your $100): $____
Section 2: Smart Shopping (Deal or No Deal?)
An essential part of managing money is comparing prices. Calculate the options below to find the best deal.
Scenario A: The Souvenir T-Shirt
You find the perfect souvenir shirt. It is sold at two different gift shops inside the park:
- Shop A (The Coaster Closet): Original price is $25.00, but it is on sale for 20% off.
- Shop B (Adventure Apparel): Original price is $22.00, but you have a coupon for $3.00 off.
-
Calculate the final price for Shop A:
- Hint: To find 20%, multiply $25.00 by 0.20, then subtract that amount from $25.00.
Shop A Price: $____
-
Calculate the final price for Shop B:
Shop B Price: $____
-
Which shop offers the better deal, and how much money do you save by choosing it?
Answer: _____
Section 3: Opportunity Cost
In economics, opportunity cost is what you give up when you make a choice between two or more options.
Imagine you only have $15.00 left in your pocket. You really want to buy a Giant Cotton Candy ($7.00) AND play the Ring Toss Game ($10.00).
-
Why can't you buy both? (Explain using numbers)
Answer: _____
-
If you decide to play the Ring Toss Game, what is your opportunity cost?
Answer: _____
-
How would you make this decision in real life? What factors would you consider?
Answer: _____
Section 4: The Savings Challenge (Advanced)
Let's look at the long-term power of saving!
Imagine you decided not to buy the Souvenir T-Shirt and instead saved $20.00 from your park trip. You decide to put this $20.00 into a high-yield savings account that earns 10% simple interest per year.
- Formula for Simple Interest: Interest = Principal (starting money) x Rate (percentage as decimal) x Time (years)
- $I = P imes r imes t$
-
How much interest will your $20.00 earn after 1 year?
Answer: $____
-
What will the total balance of your savings account be after 3 years? (Assume you don't add any more money)
Answer: $____
Answer Key
Section 1: The Adventure Budget
Student responses will vary depending on choices made, but must fulfill these conditions:
- Must include Park Entry Ticket ($45.00) and Lunch Meal Deal ($15.00) as baseline expenses ($60.00 total minimum).
- Total of chosen items + Leftover savings must equal exactly $100.00.
Section 2: Smart Shopping
- Shop A Price: $20.00 ($25.00 - $5.00 discount)
- Shop B Price: $19.00 ($22.00 - $3.00 discount)
- Better Deal: Shop B is the better deal. You save $1.00 compared to Shop A.
Section 3: Opportunity Cost
- You cannot buy both because the total cost ($7.00 + $10.00 = $17.00) exceeds your remaining budget of $15.00.
- The opportunity cost is the Giant Cotton Candy (and the enjoyment of eating it) that you had to give up.
- Answers will vary. Accept answers focusing on utility (e.g., "I will enjoy the cotton candy more because it is a guaranteed treat, whereas I might lose the ring toss game").
Section 4: The Savings Challenge
- Interest after 1 year: $2.00 ($20.00 x 0.10 x 1)
- Total balance after 3 years: $26.00 (Interest earned = $20.00 x 0.10 x 3 = $6.00. Total balance = $20.00 + $6.00 = $26.00)