Kids experience a money adventure

My’Kasha Harrison, 17, learned a valuable lesson at Crestview High School Friday morning. “Life is very expensive,” she said.

Along with 32 of her fellow Money Adventures participants, My’Kasha had just spent a busy morning shopping for groceries, buying a car and a house, getting insurance, clothes shopping and balancing her checkbook. With whatever she had left over, she was debating between a night at the movies, concert tickets or a sports event to treat herself for her financial acumen. The money the students “spent” was theoretical, but the situations were very real.

“The program is to help youth learn about money management,” explained Elaine Courtney, family consumer sciences educator for the University of Florida/ Okaloosa County Extension Service.

Participants in the one-week summer program learned about opening bank accounts, how to write checks, and other basic money skills.

“They’re learning about the importance of savings and putting money aside, and doing some basic spending plans and budgeting,” Courtney explained. “We do all this with activities. It’s all pretty hands-on. We talk about their goals and values and how it all relates to money.”

The culmination of the program was Friday’s simulation experience, in which the kids portrayed themselves as 26-year-olds. They randomly drew careers and accompanying salaries, as well as family units with a non-working spouse and, for several, small children.

Like people in the “real” world, the students learned how a substantial part of a salary check vanishes in various tax and FICA deductions, followed by monthly payments for insurance, house and car notes, and other expenses.

“The bottom line is what they’re transferring to their check books,” Courtney said.

With checkbooks in hand, the students visited the array of 13 stations, which also included opportunities for charity donations.

Booths were manned by volunteers from Crestview High, local churches and several area businesses, including banks, CHELCO and Gulf Power. The volunteers got into the spirit of the exercise as enthusiastically as the students.

“You know I’m going to treat you right,” declared high school teacher Victor Long, one of the “salesmen” at the Motor Mania Transportation car lot. “I’ll put you in something nice,” he promised.

The kids rapidly learned that life isn’t cheap.

“Everything is too expensive, that’s what I’m learning,” sighed Bobbie LeGrande, 15.

At the “Crystal Ball Counseling, Fortune and Pawn” stop, students drew chance cards that, like the curve balls life sometimes throws, could deduct money from a student’s account through unexpected expenses such as speeding tickets (which also required a return to the insurance booth to have the student’s premium adjusted) or repairs.

Those hoping to augment their dwindling financial resources by drawing a lucky chance card at the Crystal Ball often found that, as in real life, gambling doesn’t pay and is sometimes costly.

“If I hadn’t gambled, I would have enough to buy tickets for my children,” lamented James Reid, 16, as he bought movie tickets for himself and his wife at the Party Alley Entertainment booth. “I had to get a second job to buy my childcare,” he confessed.

Those that applied for a credit card from the bank staffed by the Rev. Sanford Hayes were usually granted easy credit, another real life experience followed by a real-life eye-opener. Their credit cards came with a balance.

“They automatically get a balance,” Courtney explained, “because most Americans carry a credit card balance.”

“I suckered y’all!” laughed Hayes. “That’s what can happen if you’re not careful. Credit cards can ruin your life!”

Rita Smith of Jobs Plus praised the students’ attitude.

“I heard more ‘yes, ma’ams’ and ‘no, ma’ams’ this morning,” Smith said. “Politeness doesn’t cost anything and it gets you far in life.”

Coupled with Jobs Plus’ three-week Summer Youth Employment, the Money Adventure introduced teens to real life money management situations, including working, earning and banking real cash, valuable life lessons that helped prepare them for life beyond school.

“It’s been fun these past three weeks,” said James Reid. “We worked but we learned a lot and had fun.”

“I already opened a savings account,” added his younger brother Daniel, 15. “It’s a lot easier than a checking account,” he added, his newly enhanced financial savvy already showing.