By the time one reaches tenth grade, they have had their share of lemonade stands, chore money and holiday gifts as their only sources of income.  That magical year marks a bridge to a reality that is not necessarily the easiest to navigate.  With cars, college, and the “real world” within reach, Sophomores are beginning to see how hard budgeting can be and certainly entering into an age where trade-offs need to be made.

 

Huntington Banks, in partnership with the West Virginia State Treasury Office, conducted a hands-on learning program for Sophomores in Harrison County this week, with Bridgeport High School being their first stop.  When the students gathered in the auditorium, they were greeted by a group of professional men and women who understand the importance of teaching financial literacy to students. 

 

Chamber of Commerce members and representatives from area banks and educational agencies guided the students through a budgeting simulation that included decision making, the importance of savings, and a realistic view of where their money will go when they are on their own.

 

“Students this age are starting to look at cars, getting part-time jobs, and preparing for college,” said Kathy Taylor of Huntington Bank.  “This program allows us to educate them about common pitfalls regarding credit and budgeting before they get into the real world and make mistakes that are harder to correct.”

 

Students were given a card with a fictional occupation and family.  With that information, they were directed to purchase a house, car, furniture, insurance, groceries, gas and utilities.  The salaries they were given were in line with current statistics.  The initial round of the simulation is played with a low-income occupation and no advanced education.  The second round shows them the importance of post-secondary education and the correlation with higher salaries.

 

To make the simulation realistic, volunteer realtors are trying to sell them the best houses and a “Green Reaper” roams around the room with financial emergencies that could throw their budget off.

 

“Because there are so many unexpected events in life, we thought it was important to demonstrate why having a nest egg is vital in order to withstand those challenging times,” said Taylor.

 

Students were tasked with totaling expenses, adjusting as needed and subtracting from income in order to see what they could realistically afford.  Many of the students were surprised with how little they had left at the end of the game.

 

“It was really eye-opening,” said Corey Skidmore.  “The simulation helped me understand how to budget money and make better financial choices.”