In Mr. Griffin’s Personal Finance class, students are covering a comprehensive unit focused on understanding financial institutions and managing personal finances. Within this unit, students are exploring various types of financial institutions and are also learning how to open checking and savings accounts, gaining firsthand knowledge of the essential tools needed for financial management.
One of the key areas of focus is understanding how to read and reconcile bank statements and account registrars. Students are learning the importance of tracking their finances and ensuring all totals match up—an essential skill for maintaining financial stability. Additionally, students were introduced to the process of writing checks, filling out check statements, and even understanding money orders.
A unique feature of this unit was the interactive simulation that gave students a chance to experience managing a budget in real-life scenarios. Throughout the simulation, students rotated through various life stations—such as health expenses, student loans and college costs, auto and transportation fees, phone bills, grocery expenses, eating out at places, childcare costs, mortgages or rent, subscriptions, and other miscellaneous fees. At each station, students used a checkbook registrar to track their budget and keep a running total, mimicking the process of managing a personal budget.
The hands-on experience opened many students' eyes to the complexities of budgeting and financial planning. It allowed them to see how important it is to balance expenses and make informed financial decisions. This unit is proved to be a valuable learning experience for students, equipping them with practical skills that will serve them well as they navigate their financial futures. A student (Ava) mentioned, "This simulation was very eye-opening to me as I got an idea of what budgeting is like and considering the cost of bills and learning how to be independent and careful with my money was valuable. Even more-so, I learned that I needed to cut back on things that I don't need. Everything costs money, and at the end of the day it's so easy to overspend or slip behind."
