CullmanTimes.com - Cullman, Alabama

Education

January 30, 2013

FINANCE FOR KIDS: Why money matters

Monica Casters took a trip to the future a few weeks ago: Suddenly, the eighth-grader was 30 years old, married, with a child and working at a job that paid her $93,000 a year. This was no dream, but it wasn't real, either. She was visiting Junior Achievement Finance Park, an educational center in Fairfax, Va., where kids learn about managing money. Lessons about spending, saving and borrowing are becoming a regular part of classes, sometimes starting in elementary school.

Why do kids need to know about money?

"All kids see parents do with money is spend it," said Neale Godfrey, author of a book called "Money Doesn't Grow on Trees." But the amount of money you can spend isn't endless. "There really is such a thing as a budget," Godfrey said. (A budget is a plan that limits how much you spend on different things to fit the amount of money you have.)

Educators agree. School boards in Maryland and Virginia decided in the past three years that students must learn about money-related topics in school.

In Fairfax County Public Schools in Virgini, all eighth-graders take a half-day field trip to Finance Park after spending 20 hours in class talking about managing money.

On a recent visit, students from Carl Sandburg and Lanier middle schools were each given a card that told them how old they were, whether they were married or had children, and how much money they earned each year. Their task? Visit 18 pretend stores or offices and choose how much of their imaginary salary to spend at each place.

That meant some big decisions. A house with four bedrooms or a smaller one with a pool? A family car or a convertible? Movie channels or basic cable?

Students said that staying within their budget wasn't always easy.

"I went over my limit on clothes," admitted Monica, who attends Sandburg. "I've learned I can't have everything I want."

Kareem Homsi, a student at Lanier in Fairfax, ended up with more savings than his budget required by choosing a practical car.

"Maybe after that I can buy the convertible," Kareem said.

Text Only
Education
  • WSCC patient care specialist BOOST program offers certification as Patient Care Specialist in one year

    Starting this fall, Wallace State Community College will offer a new health program aimed at helping individuals who are looking for entry into the medical field, or to change gears after spending time out of the workforce, whether from losing their jobs due to the economy, downsizing or other factors.

    July 21, 2014 1 Photo

  • WSCC HILL.jpg Hill hits the ground running at Wallace State

    Marcie Hill of Double Springs likes taking on new challenges. As an 18-year veteran of the education system, Hill has taught first grade, sixth grade and served as a reading coach to students and teachers in Kindergarten through sixth grade.

    July 16, 2014 1 Photo

  • Barnes enjoy Samford's governor's school.jpg Area residents enjoy Samford’s Alabama Governor’s School

    Students from two area high schools were chosen to attend Alabama Governor’s School at Samford University June 15-27. They were among 91 outstanding rising high school seniors from 24 counties who were selected for the two-week honors program.
     

    July 10, 2014 1 Photo

  • University of Memphis Reduces Tuition for Out-of-State Students

    The Tennessee Board of Regents has approved a proposal that will significantly reduce the amount of tuition that out-of-state students pay to attend the University of Memphis.


    Under the new 250-R program, full-time undergraduates who graduated from a high school within 250 miles of Memphis will now pay $12,456 a year, an almost $10,000 reduction from last year’s amount of $21,768.

    June 20, 2014

  • WSCC students SkillsUSA comp 1.jpg Four Wallace State students set to compete this month at the 50th annual SkillsUSA National Leadership and Skills Conference

    Wallace State’s Technical Division has made it an annual tradition to send multiple students to the SkillsUSA national competition. This year is no different.

    June 11, 2014 3 Photos

  • Dickerson chosen Boys State.jpg Dickerson chosen to attend Boys State

    Davis Dickerson, a student at Good Hope High School, son of Bruce and Jennifer Dickerson, received the American Legion Boys’ State award for 2014 from American Legion Post 4 Adjutant Don Reid.

    June 3, 2014 1 Photo

  • Southern Am. Legion Girls State.jpg Southern chosen for Girls State

    Miranda Southern, a student at Good Hope High School, daughter of Douglas Southern, received the American Legion Auxiliary 2014 Girls’ State award of $200 from American Legion Auxiliary Unit 4 Secretary-Treasurer Mary Reid.

    June 3, 2014 1 Photo

  • Cullman students earn Martin Methodist College honors

    Two residents of Cullman County received academic honors during the spring semester at Martin Methodist College in Pulaski, Tenn.
    Brandie Overton and Darcie Wilson, both of Cullman, were named to the Dean’s List with a semester grade point average of 3.5 to 3.9.

    May 30, 2014

  • Crisologo earns degree.jpg Crisologo earns D.P.M. degree from Des Moines University

    Des Moines University granted 539 degrees at its 2014 Commencement Ceremony, the 114th in the university's history, on Saturday, May 24, at 10 a.m. at Hy-Vee Hall in the Iowa Events Center in Des Moines. The dean from each of the three DMU colleges presented their classes and DMU President Angela L. Walker Franklin, Ph.D., conferred degrees.

    May 29, 2014 1 Photo

  • Moon graduates from Southeastern Bible College

    John Clint Moon of Empire was awarded an associate of arts degree in leadership ministries from Southeastern Bible College Friday, May 9, 2014.

    May 29, 2014