Earl Neikirk/Bristol Herald Courier - A family budget was given to junior students during the On-My-Own personal finance simulation Wednesday at Sullivan Central High School.
BLOUNTVILLE, Tenn. --
BY JAMES SHEA
Sixteen-year-old Courtney Nelson could not pay her bills Wednesday.
The Sullivan Central High School junior took part in a mock finance seminar. She picked a career as a special-education teacher, earning $32,000 a year, and was given a new life complete with a husband, who also worked, and two kids. The problem ? she was saddled with $13,000 in credit-card debt.
After she purchased a vehicle and a place to live, Nelson ran out of money.
?I picked the cheapest truck possible but did not have enough money to buy insurance or child care,? she said.
University of Tennessee Extension and 20 local businesses helped organize the exercise in personal finance. Extension Agent Vickie Clark said Tennessee now requires a personal finance class in high school, as the state ranks fifth in the nation for bankruptcy filings.
?We are really, really high in bankruptcy and loan defaults, so it is a problem and something we are trying to teach,? Clark said.
The exercise teaches students valuable lessons and personal responsibility, she said. Many of the students were surprised at the amount of money needed to support a family, including the cost of child care.
Leslie McReynolds, Sullivan County Health Department tender care coordinator, oversaw the child-care booth at the event. She spoke with students about options and costs.
?One little boy said he could not afford to buy a car with his child in daycare,? she said.
To save money, student Lucas Gentry, 16, chose not to purchase a car and opted for public transportation, in order to keep his expenses low. He was a teacher and the exercise helped him see how expenses ?snowball on top of each other.?
Gentry added: ?I really learned how to budget. It makes you realize there are unexpected situations, and they impact your personal finances.?
Each student was given a ?curveball.? For Nate Lancaster, it was a trip to the dentist for his three pretend children. He earned $50,000 a year as an electrical engineer and purchased a new truck with a $395 monthly payment.
He did not have custody of his children so he paid $600 a month in child support.
?It helped me manage money better and not spend money on wants but focus on needs,? Lancaster said.
Sherrie Spiegler teaches personal finance at the high school and worked with Clark on the exercise. About 100 students from four personal finance classes took part in the activity Wednesday.
She said the students learn the realities of personal finance. Spiegler had them research careers and their salaries were based on national surveys. Some of the professions did not pay well. One of the students wanted to be a massage therapist and was given an $18,000 annual salary.
?Hopefully, they will learn that the more education, the more their personal income,? Spiegler said. ?They learn that paying bills is not fun.?
Austyn Rhea, 17, was a pharmacist because she enjoys chemistry. The lesson helped her see the realities that her parents face each month.
?As a teenager, you don?t think you are going to be paying bills in a couple years,? Rhea said. ?You think you are in college and living the good life.?
?
jshea@bristolnews.com
(276) 645-2511
Source: http://www2.tricities.com/news/2011/nov/17/central-students-take-lessons-finance-ar-1464700/
lord monckton lord monckton andy kaufman october 21 2011 ohio ohio john beck
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.