Some hands-on learning how money moves

On Friday, Nov. 30, Medical Lake Middle School students were presented with fictional budgeting scenarios outlining imaginary occupations, incomes, family structures and expenses. What they learned, put succinctly by one eighth-grader: “Everything is expensive.”

The activity was part of Junior Achievement’s Finance Park, an event meant to give students real-world experience weighing adult financial choices. Junior Achievement is a non-profit youth organization with a goal of teaching young people financial literacy and entrepreneurial skills.

The Finance Park, which was hosted by the Shriners Event Center, presented students with scenarios like the following: “Imagine you are a 35-year-old single parent earning $32,000 yearly as an office assistant. How will you manage your money?”

Community sponsors set up kiosks around the event center, each specializing in a particular expense, such as insurance, child care or utilities. Students walked to each kiosk with their fictitious finances pulled up on an iPad, making changes to their budget as they saw fit.

As the costs piled up, one enterprising student suggested putting both his child and his wife up for adoption. Another, unconcerned by his family’s imminent starvation, said he had budgeted almost nothing for food.

Overwhelmingly, the students expressed shock at the cost of child care. In these invented situations, several of them were shelling out more than $900 on daycare alone.

During the simulation, an abrupt announcement that there had been a nationwide recession resulting in everyone losing their jobs was met with incredulity and confusion. When asked what they would do in that situation, student answers varied.

“Join the military.”

“Live off the grid.”

“Flee the country.”

At the end of the simulation, students met to discuss what they’d learned and were encouraged to discuss finances with their families.

JA Finance Park requires about 13 hours of classroom instruction developed by the non-profit and delivered by teachers. This instruction covers investing, banking, credit history and applying for a loan.

About 2,500 local students will go through a similar exercise this year, Junior Achievement’s Regional Program Director for Eastern Washington and Northern Idaho Janet Branaugh said.

According to a Junior Achievement press release, the organization hopes to someday have a permanent facility in Spokane so that the program can be offered to more school districts.

Students from Westwood Middle School in Cheney also participated in the event on Monday, Dec. 3.

Shannen Talbot can be reached at [email protected].