July 28, 2022
Braden Baker didn’t expect to pay bills outside of class when he signed up for Laura Abel’s accounting class. The budget challenge project Mrs. Abel offers in her second semester of her accounting courses means that Baker and his classmates spend ten weeks in a personal finance simulation, in which they manage a budget complete with insurance, cell phone, and credit card bills.
The students create a budget through an online account where they select an apartment, insurance plan, and other necessities from a list of options. Students compete with one another to see who can create an ideal budget to meet their needs and stay out of debt. To win, students must earn points by making good financial decisions, for example, paying bills on time and keeping a low credit card bill.
Abel, who has coordinated the project for eight years, said that the $2,500 grant she received from the Humble ISD Education Foundation will help give more students access to the project.
“One hundred percent of it goes to the budget challenge,” Abel said. “That $2,500 will go to pay the $25 registration fee for them.”
Dr. Michael Nasra, principal of Kingwood High School, said the budget challenge project supports students’ personal finance skills.
“I’m so proud of Mrs. Abel for designing such a meaningful experience for our students,” Dr. Nasra said. “The Budget Challenge sets the standard of learning personal finance with the simulated activity. It brings a lot of life and energy to the class with the hands-on nature of the simulation and the healthy competition amongst students.”
Abel said the challenge prepares students for the decisions they will make in adulthood in ways they haven’t had to consider before.
“Thinking about deductibles and insurances isn’t normal for high school kids, but it definitely is going to impact your life soon,” Abel said.
Jenna Bergeron, an eleventh grade Accounting II student, said she had never been exposed to personal finance prior to completing the challenge.
“You can’t fall behind, or it might snowball,” Bergeron said. “It’s about staying on top of it.” The challenge allows students to explore their financial options and learn about budgeting without any risk.
“The whole point is that people are going to make mistakes,” Abel said. “It’s for them to make the mistakes in a safe environment before it’s real dollars.”
The challenge contains surprise events that students have to handle, like car accidents and robberies. The simulation also does not stop over weekends and school holidays to mimic reality. This year, students had to log on over spring break to pay a bill. “In real life, your bills are due when they’re due,” Abel said.
Both Abel’s Accounting I and II classes participate in the budget challenge project to allow returning students to learn from their mistakes and try new options. Braden Baker, an eleventh grade Accounting II student, said his second time attempting the challenge was more successful because he learned how missing bills impacted his score. The second time around, Baker said he paid more attention to the due dates.
“It’s not really that hard,” Baker said. “You just have to do it or you’ll fall behind.”