Cassidy McLellan – Mustangs Ahead
(LAKEWOOD RANCH, FL) – Senior Mustangs learned how to manage their money at the Manatee Chamber of Commerce’s Big Bank Theory today.
The Big Bank Theory is a financial literacy simulation presented to all seniors. The last day of the event, held in the school’s gym, will be tomorrow.
Mustangs were given a portfolio that informed them of a job, yearly income, monthly income, marital status, education, and if they had children.
According to Manatee Chamber of Commerce, “Business volunteers work in one of the 14 stations that require the students to consider the financial responsibilities of a 25-year-old adult. At each station, students make spending decisions while trying to stay within their assigned monthly budget.”
With this information, they were instructed to figure out what life essentials they could afford.
Volunteer Thomas Wormsley said, “This event gives students a window of what the real world is like when you leave high school.”
Senior Jackson Fox said, “I learned that I have poor financial decisions. I had fun and I definitely think that we got valuable information out of it, and I learned that a sink could break and cost you $75.”
Wormsley continued, “You will start to learn in college what it is like to be on your own and the sooner you grasp that concept, it will determine how far you will go,”.
Volunteer Tamar Varckette said, “I believe that the students had an eye-opening experience today and I believe that they will go home and ask questions and explore further into their money spending habits.”