During registration, you will need to read the Information Packet and Vendor Selections details provided to make informed choices for each budget category. Take the time to familiarize yourself with the key terminology for each type of vendor contract. Use the Information Packet to complete your Budget and Cash Flow Spreadsheet (CFS). This will help you build a long term plan and manage your daily inflows and outflows of cash. While you cannot know everything that may happen during the simulation (or life), there is a lot of information you can (and should) use to plan ahead.
Once the simulation starts, you will receive courtesy bill notifications and other scenario information via email, dashboard alerts on the website, and push notifications on the mobile app.
Your responsibilities include:
1) Reviewing and paying bills on time
2) Saving money into the 401(k) via direct paycheck contribution
3) Managing your credit card balance/utilization
4) Answering quizzes/surveys
5) Using the Knowledge Base and contacting customer service through the Help Desk for issue resolution.
Every participant is managing the same overall scenario. Your individual leaderboard score is updated nightly. The initial choices for each budget category allow for some flexibility. However, the greatest score differentiator will be your performance in the five areas of responsibility listed above.
Throughout the game your score will be adversely affected by penalty points, utilization penalties, late fee penalties, outstanding and excessive balance penalties, among others to account for poor financial decisions or mistakes that may lower your credit score or adversely affect your financial standing in other ways.
Stay engaged and execute your plan. Adjust your budget and stay on top of your cash flow, pay your bills on time, manage your credit card balance, and save a responsible amount in your 401(k) retirement savings.