ROCHESTER, Minn. - A real world look at finances, from paying bills and budgeting to balancing check books, it’s all part of the 2nd Annual Personal Finance Camp at Rochester High School.
In a personal finance and investment class students have already chosen an entry level career, deducted taxes and squirreled away savings.
Senior Elana Gillen from John Marshall said, “It's cool to kind of see and break down how your money whittles away slowly and the reality of everything.”
Now, during a simulation, they’re spending their hard earned paycheck on the necessities like housing, transportation, utilities, plus entertainment and food.
Business teacher Mike Hutchins from John Marshall High School said, “It's really just trying to get the students thinking right now about saving money and investing their money and budgeting as early as possible so they'll get into those good habits early on.”
Students say they’re happy the district offers the course as it gives them a much more realistic picture of finances in the future.
“It's good to know because I think this is very important because I don't think some schools offer this as a class,” said senior Marianna Kaloumenos.
The district says this even hammers home that basic money management is a necessity in the real world.
Hutchins added, “It's one of those things where we can talk about it so much and their parents can talk about it so much but actually seeing the numbers and seeing the information is valuable to them to get a good handle on it and really look at it in actual numbers and where the money actually goes.”
Think Bank was on hand during the event with about 20 volunteers helping students understand what resources were available. The event also had the support of the Rochester Area Chamber of Commerce.