Students at GLTS learn budgeting, responsibility
by Eagle Tribune
Juniors at Greater Lawrence Technical School learned about fiscal responsibilities and budgeting at a Credit for Life fair held Wednesday.
Each student was assigned a career related to their area of study, as well as a salary and credit score. Based on their monthly allotment, students had to budget in the areas of housing, transportation, clothing, entertainment and more.
Volunteers stationed around the gym were tasked with trying to oversell things like vacations to test students' responsibility and budgeting skills.
At one station, students could spin the “reality check” wheel, which featured unexpected life circumstances that can often be pricey. The wheel landed on anything from a high dentist bill to a car repair. Some spinners were rewarded with an increase in their budgets by landing on items like an employee bonus or $10,000 inheritance.
Students also met with credit counselors who helped them calculate their monthly spending to see where they were in terms of their budget. If over their budget, students had to decide which areas of their life they would cut back on in terms of spending.