Fourth graders get lesson on managing money
Fourth graders get lesson on managing money
Posted on 02/22/2018
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Balancing a checkbook is not an exciting activity but the ability to properly managing finances is one of the most important life skills.

To teach students this necessary skill the Family Resource Centers host Dollars and Sense, an annual financial literacy program that helps student learn how to manage finances through real-life scenarios.

On Friday, February 16th fourth graders from all three Danville elementary schools took a field trip to Inter-County Energy for the Dollars and Sense exhibition. Students were assigned monthly salaries before visiting booths to purchase things like housing or entertainment. At the housing booth, students could select to live in an apartment, house or even to have a roommate.

“I was surprised at how expensive housing is,” said Lycia, a Jennie Rogers student. “I thought a house would be just $100 per month but I am sharing an apartment with a roommate and it is $250.”

Classmates Jackson and Colton were in sticker shock after seeing the price of a vehicle.

“We decided to not buy a car and instead use the bus,” said Jackson. “We did not want to spend that much money.”

After students budgeted for housing, transportation, health insurance, food and clothing, they visited entertainment booths and spent money to watch a movie in a theatre, adopt a pet or visit nail and hair salons.

Jailynn hopes to one day be a veterinarian and chose to spend $20 a month for a cat.

The Family Resource Center hopes the lessons students learn now about saving, budgeting, credit and debt will pay off when they are adults.

See a photo gallery here.