Students in Mrs. Tipton’s Financial Math class participate in the Budget Challenge each year, alongside students from schools across the country. This activity is a national comprehensive financial literacy competition
“Budget Challenge” is a 10-week simulation for students to act as if they were young adults who must manage financial responsibilities, including paying bills and saving money for retirement.
“Budget Challenge” goes beyond financial literacy by allowing students to practice skills and develop positive financial habits,” Tipton said.
Students are then evaluated on their participation with their bill payments, engagement, and investment involvement, such as their contribution to 401(k).
“The trophies they earned throughout the simulation gave them the opportunity to earn extra points for meeting certain criteria,” Tipton said.
This competition is intended to help students grow in monetary knowledge surrounding banking, credit scores, taxes, large purchases, interest rates, insurance, and college expense planning.
“Students have to make choices for banking, apartment renting, phone bills, electric companies, student loans, insurance,” Tipton said. “They learn how to write checks and invest in their 401(k) retirement plans.”
The class was quite successful, placing in the top five out of school districts in all 50 states.
“Out of 25 schools that competed in our time slot, our class came in fifth place out of 25 teams,” Tipton said. “Savannah Breckeen was our top student out of both classes with Mayra Perez-Valazques and Garner Rodriguez coming in second and third.”