Financial Simulation Project Teaches Students Budgeting - WMBB News 13 - The Panhandle's News Leader

Financial Simulation Project Teaches Students Budgeting

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Students at Arnold High School are getting a big dose of real life. The Panama City Beach Chamber of Commerce is teaming up with Innovations Federal Credit Union to teach the freshmen financial literacy.

The students were faced with different financial situations and different occupations ranging from personal trainer to lawyer. Anthony Borges was dealing with an artistic profession. "I'm a graphic designer. I make 2,090 dollars a month. My wife is a music teacher. She makes 1,425 dollars a month."

In this Mad City Money world, the students have to make a budget to meet their financial needs, which can include loans to pay, medical insurance, and a even child care. Those bill are on top of living costs, including housing, transportation and food.

"I pay 320 dollars a month in student loans, 150 dollars for medical insurance, and I'm 3,500 dollars in credit card debt," says Borges.

Overall, it's an experience that highlights the importance of budgeting.

"I learn that it's kind of hard to make a decision on what you want and what you can afford," says Haylie Summers.

The students who participated Tuesday's project are part of a computer business course at Arnold.