High school sophomores get taste of real-life budgeting

High school sophomores get taste of real life budget constraints

By Phil Weber ~ The Quincy Herald-Whig

MENDON, Ill. -- A group of students at Unity High School here recently got a taste of what the real world might be like.

As part of the University of Illinois Extension Office's Welcome to the Real World program, members of Unity's sophomore class selected careers and reaped the benefits of their salaries as if they were 25 years old and living independently.

That was the good news.

The bad news came when they learned that being independent includes paying bills, keeping accurate checkbook and savings account information and taking chances with whatever the world throws their way.

"We're hoping they get a feeling for what lies ahead of them in the real world," said event coordinator Ben Spohr, the school's industrial arts teacher. "Possibly, they may want to change their expectations or their career plans."

"Winning the lottery or becoming a highly paid (computer) game designer doesn't always happen," Spohr noted.

The students started the event by picking a career that interested them, and then learning the salary that fit that career. From there, they paid taxes, selected and paid for a vehicle and a home, paid utilities, bought groceries and paid for their clothing and entertainment expenses.

When the students paid their bills they had to write out mock checks and give the "money" to actual area professionals and business people -- including auto salesmen, bankers, Realtors and insurance agents -- who could answer any questions the students might have.

When they finished paying their monthly bills, the students had to step up to the chance table and draw a card to see what fate had in store for them.

In some cases, the students earned a bonus at work, found a wallet and turned it in for a reward, or a friend took them out to lunch. In other cases, though, they ended up paying extra because they had to buy a last-minute birthday present, or they were stranded in a storm and had to pay for a hotel room.

"They are actually pretty realistic, except that, as we all know, you can have more than one bad thing happen in a month," said Marcy Heil, who was volunteering at the chance table. "They only draw one card here."

Erin Homan, 15, and Kristi Hibbert, 16, selected careers in cosmetology and counseling, respectively. They said they were surprised to see how much of a difference in lifestyles the two careers entailed. Homan, the cosmetologist, ended the exercise with about $80 in her bank account, while Hibbert, as the counselor, had $840.

"I picked the cheapest of everything and still barely had enough," said Homan. "It made me realize that my career doesn't pay that much. Maybe I'll have to live with my parents a couple of extra years to save money."

LeAnn Miller, a youth development educator with the extension office, said the students received a bit of a break with this program because they did not have to cover the full range of expenses that many young people incur. None of them had to pay off student loans, cover medical expenses or pay the cost of having children or a spouse.

Spohr said he doubted that most of the students would understand the full impact of the program right away.

"They are just starting to see how things add up in the real world," he said. "They won't get it today, but if you give them a few weeks to think about it and compare notes, they'll start to understand how things really work."