Seniors balance budgets at finance fair

SANDPOINT — Want to make finance fun? Try gamifying it. 

Hundreds of seniors from Sandpoint, Clark Fork and Lake Pend Oreille high schools visited North Summit Church Friday to attend a symposium designed to prepare them for fiscal success. 

“Our high school seniors, they’re hungry for this knowledge,” said Jeralyn Mire, post-secondary transition counselor at SHS. “We’re hoping students just start to learn some financial literacy.” 

The two-part expo first had students team up for a game show, where they were quizzed about bank loans, credit scores and how debit and credit cards differ. 

Then, it was off to the “real world” — a set of stations where students determined how much they wanted to spend on groceries, clothing, transportation and other needs. 

Each student was given a mock identity with a unique budget based on their prescribed age, income, family structure and job. Seniors were forced to choose when to splurge and when to be frugal to make the most of their money without going into debt. 

At the housing station, SHS senior (and accountant in the simulation) Brady Newhart chose to spend up on a big apartment with high-end furniture. That choice would go on to limit his options for his other necessities. 

“I wanted the best,” Newhart said of his housing purchase. “Now I’m going to have to go for all the bottom things.” 

The exercise taught students not only to budget for their needs, but also their wants. Seniors visited stations to determine how much they wanted to spend on fun activities like skiing or a trip to Seattle, and what charitable causes they wanted to support.

To enhance the realism, the simulation included an element of luck. As they built their budget, students randomly drew cards that affected their savings positively or negatively. Sometimes, a senior would learn they received a tax return or bonus. More often, they were hit with the cost of storm damage or an unexpected car repair.” 

“Usually, money doesn't fall out of the sky for us. Usually it's an extra bill,” Mire said. “It gives them a sense of real life.” 

The finance fair is a rare example of an educational exercise applicable to each and every student, regardless of their eventual lifestyle or profession. 

Everyone — no matter where they live, what their job is, or how much they make — has to choose how they want to spend their money throughout their adult lives. Integrating life skills like financial literacy into curriculum is a critical step in equipping all students for a successful future.