Budget simulation adds dose of reality to business class
Making budget decisions is a bit easier on paper, but students in Careers & Life Management taught by Ryan Psota got a glimpse of the financial decisions and choices they will have to make later in life.
Representatives from Liberty First Credit Union were on-hand to walk students through a simulated budget exercise. Each student received a budget worksheet, with each student receiving a different situation to consider when budgeting finances.
The job, salary, spouse and number of kids were different for each, and that impacted their choices when picking a place to live, a vehicle (or two if you have a spouse), entertainment options, raising children, eating out, and other realistic choices.
Students also learned about credit cards, checking accounts and much more. Some students re-worked their budget after their monthly income ran out before all expenses were paid.
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