Sim Financial v2.4 (31.05.2026)

Requires Lot51 Core Library

This mod began as a request from a patron to create financial ups and downs for sims, akin to the calamitous events in "The Sims," but with real financial consequences. I wanted to add ways for sims to manage these disasters. Perhaps their roof needed repairs after a sudden storm, or maybe their car broke down unexpectedly. Could home insurance cover some of these costs? The answer to these questions led to the creation of this mod and the SimFinancial Credit Union.

The mod is modular, allowing you to choose specific features like Financial Events, Insurance, or Loans. The core mod is necessary for all Credit Union services, including loans, investments, credit cards, and insurance. This means that Credit Scores, Credit Union accounts, and Income Taxes are essential components of the base mod. Sims don't need to keep large sums in these accounts, but membership in the SimFinancial Credit Union is required to access its services.

The credit union was designed to provide a simple banking experience that complements other aspects of the mod. While it can be used independently, it also serves as a central hub for typical banking services. This is why Loans, Financial Events, and Insurance are separate, though they are not the main focus of this mod. Other, more comprehensive mods cover these areas in greater detail.

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### Core Mod Features

#### Credit Scores
Every sim is assigned a credit score based on various factors such as income, career level, marital status, open accounts, bill payments, late payments, and property values. This score is dynamic; losing a job, opening a new account, or missing a payment can all affect it. When sims apply for credit cards, loans, or insurance, their credit score is checked, and it can vary depending on their financial situation.

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#### Income Taxes
Sims will now pay income taxes biweekly, based on their weekly average salary. For freelance and gig workers, taxes are calculated based on the average salary of similar regular careers. Higher-paying and prestigious jobs have higher tax rates, while part-time jobs and lower-paying jobs have lower rates. Married sims are taxed jointly with slightly favorable rates, and there is a tax break for sims with dependents.

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#### Credit Union Accounts

##### Opening an Account
The mod can be accessed via the Household menu on the phone, under "Open a SimFinancial Credit Union Account." Once opened, the menu can be accessed through the phone or by clicking on the sim. This feature is useful if your phone is broken or turned off, as it allows for quick access to credit card cash advances or loans.

##### Checking and Savings Accounts
To access savings, retirement accounts, insurance, credit cards, and investment options, sims must open a Joint or Personal Checking account with SimFinancial Credit Union. Opening an account requires a $25 deposit. Sims can set up automated transfers from other accounts to their checking accounts, including daily paychecks.

**Joint Accounts**: These are shared between two sims in a relationship, whether dating, engaged, or married. If the relationship ends, the Joint Checking and Savings accounts are split equally into separate Personal Checking and Savings accounts.

Sims do not need to deposit large sums into these accounts, but they are required to open one to access other services. When a sim with an open account dies, their funds are transferred to their spouse's accounts, if available, or to the household funds if not.

##### Minor Accounts
Once a sim opens a checking account, they can also open Minor Checking and Savings accounts for their children, from infants to teens. Both parents have access to these accounts. They can set up automatic deposits from the household funds to their children's savings accounts or weekly allowances into the Minor Checking account. When teens age up, their Minor Accounts are transferred to Personal Checking and Savings accounts.

##### Business Account
Sims who own a small business, retail business, or rental property can open a Business Account. To transfer funds to this account, they must be physically on the business lot. Transfers between the Business Account and other owned accounts can be made on any lot.

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#### Retirement Accounts
Sims can open a Retirement Savings Account, available to Young Adults and Elders. This is an interest-bearing account, and the earlier it is opened, the better the interest rate. Sims can set up automatic deposits to make saving easier. When a sim retires, they can access the funds in their Retirement Account.

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#### Credit Cards
Credit Cards are straightforward. Sims can open one, set a credit limit, and borrow small amounts of cash. They can get a cash advance, which has a daily limit that resets to the credit limit. Every two weeks, sims are billed for their credit card balance, which is deducted from their Personal or Joint Checking account. Missed payments incur late fees, and after three missed payments, the account is charged off. Sims can pay off their balance at any time.

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#### Investment Portfolio
Sims can now invest in the stock market by opening a Brokerage Account. They can buy and sell shares of SimCo stock, with market values changing based on current conditions. While these values don't fluctuate daily, market shifts can cause shares to remain stable, go up, or down. Sims should monitor the markets to find the best time to sell for a profit. Funds from the Brokerage Account can be transferred to the Checking Account or Household funds, but the account must be funded to buy or sell shares.

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### Modular Components

#### Financial Events
Sims can experience unexpected expenses, such as pet rent, electrical outages, phone malfunctions, mold infestations, moving costs, pest infestations, speeding tickets, engine failures, water leaks, unpaid vet bills, unpaid medical bills, and HOA fines. These events can cost sims anywhere from $250 to $25,000, depending on the event.

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#### Insurance
Sims can purchase various types of insurance to help cover these unexpected expenses.

##### Types of Insurance
- **Auto Insurance**: Integrated with SimNation Travel, this covers travel and vehicle-related expenses.
- **Homeowner's Insurance**: Covers residential, tiny residential, and haunted residential lots.
- **Life Insurance**: A separate policy from Golden Years.
- **Medical Insurance**: Available to sims who opt out of HCR insurance options or do not have Healthcare Redux installed.
- **Renter's Insurance**: Covers apartment or residential rental tenants.
- **Pet Insurance Rider**: Covers pet vet expenses for sims with cats and dogs, available with Homeowner's or Renter's insurance.

##### Insurance Quotes
To get insurance, sims must request a quote. An insurance agent will provide terms based on the sim's credit score, risk factors (such as preexisting conditions for medical insurance, age for life insurance, and type of vehicle for auto insurance), and the type of insurance requested. Sims can accept or reject the terms.

Each policy has a limit, premiums paid weekly, and a deductible. Life Insurance earns interest over time. When the policyholder dies, the spouse becomes the default beneficiary, unless changed.

##### How Insurance Works
- **Property Insurance (Auto, Homeowners, Rental)**: When an expense is covered, sims are notified. If the cost exceeds the deductible, insurance covers the rest. For example, if a sim repairs seven sinks, each repair is considered a separate expense, requiring the sim to meet the deductible seven times.
- **Medical Insurance**: Expenses accumulate up to the total deductible. Once the deductible is met, sims pay a 20% coinsurance for ten days. After ten days, the deductible resets.
- **Life Insurance**: The policy limit is the maximum payout for beneficiaries. The default beneficiary is the spouse, but this can be changed. When the policyholder dies, beneficiaries can submit a claim for equal shares of the payout.

##### Billing and Policy Renewal
Policies last for 28 days and auto-renew. When they renew, the total deductible for Medical Insurance resets, policy utilization resets, and late payments are cleared. Missed payments incur late fees, and after three missed payments, the policy is cancelled.

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#### Loans
Sims can apply for various types of loans.

##### Types of Loans
- **Business Loans**: Available to business owners.
- **Mortgage Loans**: Available to all adult sims, who can apply separately or jointly with a spouse.
- **Personal Loans**: Available to all adult sims.

##### Loan Applications
Personal Loans have higher interest rates and smaller loan amounts. Business and Mortgage Loans have lower interest rates and larger loan amounts. Sims can choose their desired loan amount, and a loan officer will inform them if their loan is approved or denied, along with the terms, including interest rate, minimum payment, and installments. For Mortgages, sims must make a downpayment. Sims can accept or reject the terms, and funds will be distributed to their checking accounts.

##### How Loans Work
Loans are billed weekly. Missed payments incur late fees. After two missed payments, loans go into delinquent status, and after three missed payments, they are considered defaulted and closed. Defaulted loans make it harder for sims to get loans in the future.