Mr. Griffin's Personal Finance/Consumer Ed class takes on a Banking & Financial Services Simulation students were able to apply and use their knowledge from the course overall, to support their budgeting skills and decisions throughout the process.
The objective of this simulation is to equip students with the knowledge and skills necessary to effectively manage their finances, maintain a budget, and achieve financial stability while pursuing their dream careers. Through interactive station rotations, students were able to explore key aspects of budgeting related to essential expenses such as housing, education, transportation, and lifestyle choices like cell phone usage and dining out. By the end of the simulation, students will demonstrate an understanding of:
Financial Awareness: Students will develop an understanding of the financial implications of various lifestyle choices and expenditures, including housing, education, transportation, and discretionary spending. Budgeting Skills: Through hands-on activities at each station, students will learn to create and maintain a monthly/yearly budget that aligns with their starting wage salary and career aspirations, while also accounting for essential expenses and potential debt.
Debt Avoidance: Students will be able to explore the consequences of student debt and other forms of financial indebtedness, and learn strategies to avoid accumulating debt while pursuing higher education and other goals. Decision-Making: Students will be able to practice critical thinking and decision-making skills by evaluating different options and trade-offs at each station, considering factors such as cost, value, and long-term financial implications.
Goal Setting: Students will set short-term and long-term financial goals related to their desired lifestyle and career aspirations, and develop strategies to achieve them within their budget constraints. This will help students plan accordingly while in high school and upon graduation.
Overall, it was good to have students see how much they had leftover (remaining balancing) after the simulation and what they needed to cut back on so they would not go into debt. Great job!
