Teaching Colorado Kids about Finance is a Walk in the Park

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Every generation faces challenges; however, Colorado’s young people may be more prepared than their parents when it comes to financial ones.

According to the NFCC’s 2011 Consumer Literacy Survey, many adults (41%) would give themselves a grade of C, D, or F on their knowledge of personal finance, marking a statistically significant increase from 2010. This comes at a time when credit card debt is trending up; November saw consumer debt grow at the fastest rate in 10 years. In contrast, the majority of JA Finance Park middle and high school students are confident that they can make budget for current (80%) and future expenses (78%), differentiate between gross and net income (86%), and plan for their financial future (81%). An impressive 88% of middle school students who visited JA Finance Park could share the disadvantages of using credit.

Click here to read more about JA Finance Park outcomes

The difference could be attributed to the fact that fewer than 1 in 10 adults survey by the NFCC learned about financial literacy at school (9%). Since JA Finance Park’s initial launch in September 2011 in the Wells Fargo Atrium in downtown Denver, almost 1,300 middle and high school students dedicated time to differentiating between net and gross income, and making credit and purchasing decisions.

JA Finance Park is a hands-on, budgeting simulation opportunity and free curriculum that helps students build a foundation for future personal financial success. The 5,500-square-foot touring business community, which boasts nearly two dozen storefronts and kiosks, a gathering park and a college and career corner all sponsored by local companies, is set to reopen on February 7 at its new location at the American Furniture Warehouse store in Thornton.

Provided at no cost to students or schools, the JA Finance Park experience begins in the classroom with four units of curriculum that culminates in a day at the park. The curriculum also directly fulfills new state-mandated scholastic economic, math and reading, writing and communications standards including 21st century skill and concepts for middle and high school students.

Junior Achievement also offers an online version of the program, JA Finance Park Virtual. Much like the hands-on version, JA Finance Park Virtual users adopt a fictional persona, create an avatar and make fiscal decisions based on a pre-determined life circumstance all through an online environment.

Schools and teachers interested in offering JA Finance Park in their classrooms can learn more at JAColorado.org or may contact Stephanie Murphy at SMurphy@JAColorado.org or 303-260-6284. If you are interested in volunteering at JA Finance Park, contact Megan Silbert at MSilbert@JAColorado.org or 303-628-7369.

JA Finance Park Outcomes

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JA Finance Park, presented by Great-West, helps students build a foundation for making intelligent, lifelong, personal financial decisions through hands-on, realistic site-based experiences. The program includes in-school, teacher-led activities culminating in a visit to JA Finance Park and a post-visit assessment.

In September 2011, JA launched JA Finance Park in the Wells Fargo Atrium in downtown Denver. During JA Finance Park’s first three months, 1,300 students dedicated time to differentiating between net and gross income, and making credit and purchasing decisions. Participating middle school students scored an average of 39% on the pre-test and 58% on the post-test, showing a significant knowledge gain. The majority (83%) of the more than 200 middle school students surveyed said that their visit to JA Finance Park taught them how to manage their money and demonstrated the following results after their visit.

 

High school students report that their visit to JA Finance Park is more than a simulated event, it encourages them to change their spending habits in relation to one another and to not live beyond their means. More than 80% of students found their experience made them more confident in planning for their financial future.

JA Finance Park will reopen in February at the American Furniture Warehouse in Thornton.  JA is currently accepting registrations from middle and high schools for both locations. Contact Stephanie Murphy at 303-260-6284 for more information about how to participate.


JA Helps Young People Accomplish Their 2012 Resolutions

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In a new survey released in December, Americans said they want to save more and spend less in 2012.  JA’s programs teach youth important financial lessons such as how to save and how to budget through interactive and engaging kindergarten through high school programs.

 

This is the third straight year that the top two resolutions are saving more and spending less in the survey measuring shoppers’ financial goals. On the 2012 New Year’s list, paying off debt jumped to the third spot; last year it was the seventh most popular resolution.

 

The results of the survey demonstrate that now is the time to prioritize your finances and to become a more financially responsible consumer. JA has the tools necessary to instill responsible spending and savings habits and to help prevent bad habits before they begin. Our programs help young people become financially responsible adults.

 

According to the survey, 46 percent of people who are considering a financial resolution for 2012 say saving more money is their top priority. The median annual target savings amount is $2,400 for long- and short-term goals, which doubles last year’s goal of $1,200.

 

The new survey results imply that people are eager to take control of their finances.  But you should not have to undertake this challenge alone. JA is here to help teach children how to proactively manage their finances. Youth need to understand early on why it is important to maintain good credit and have a savings account.

JA Sparked a Light in Me

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Junior Acheivement (JA) has more than 3,600 volunteers who reach more than 104,000 Kindergarten through 12th grade students each year in 535 area schools. Every JA encounter makes an impact on both the student and the volunteer.  Following is a story by Ginger Short who graciously agreed to share her experience about volunteering in a 5th grade classroom.

The day of JA was one that sparked a light inside of me that had been out for a long time. The day was foreshadowed with anticipation about whether I would be capable of teaching a classroom, if the students would listen to my lessons, and if my presence in that school would make an impact. That morning I think I believed the answer to all of these questions would be, “No.”  But as soon as I stepped into the front doors of the elementary school with my teammates on either side, the perspective shifted.

Immediately greeted by a warm smile and an inviting introduction, the teacher ushered us into his 5th grade classroom, overcrowded with desks. After stating his appreciation for our presence, he told us of the demographic of students we would be meeting. The school had every child on free lunch programs due to the high rate of poverty. Most students lived in neighboring trailer parks often being raised by single parents or grandparents. If that wasn’t enough to break our hearts, he went on to tell us that many students were struggling to read and write at their grade level. All this information was noteworthy, but what I remember better than any other words he spoke was, “ I love these kids, they know I’d do anything for them.” His compassion and dedication to these students was inspiration enough to get us amped for the day.

I taught the first lesson to the class, looking into the eyes of 30 strangers. I think looking at each one of them, calling them by name, seeing their smiles, hearing their laughter and knowledge, eradicated our unfamiliarity. By the end of that day, not one of those incredible children was a stranger to me. I knew their family stories, classroom crushes, hobbies, strengths, fears, dreams and aspirations. The children’s willingness to engage, ask questions, share ideas and listen was astounding. I was so impressed by the uniqueness that each student brought to the atmosphere of the room. With each lesson, the teacher would reassure us of the great job we were doing with the conduction of his classroom. I think all the praise he gave us for that one day should be returned to him tenfold. The compassion, time, interest, patience and wisdom he gives to those students everyday is more than honorable. Teachers truly deserve much more admiration and respect than they receive for the difficult yet essential position they employ.

After all the lessons had been taught, my teammates and I decided to share our personal stories of getting into college. We spoke of coming from single parent households, living under the poverty level, overcoming adversities and gaining strength through hardships. The room was heavy with emotion as the children listened to stories that sounded strangely like theirs. We all concluded with encouragement for the children to pursue college regardless of their circumstances. Then children rushed to share their personal experiences with hardship, fears regarding college and ask questions about our stories. One child told us that he wants to be a surgeon, an accomplishment that would far outreach this mother’s 5th grade education.

We chatted with the students about life, about school and about family until the bell rang. Then the children gathered around us giving us hugs, high-fives, “thank you” and “I’ll miss yous.” Their thankfulness seemed out of place, because we were the ones truly blessed by the experience of JA. Our day teaching that 5th grade classroom marked the ignition of rediscovered passion for concern with children, education and community awareness as I experienced the impact my feeble story could create for the hearts and minds of these young students.

Thanks to Ginger and all of our wonderful volunteers! 

If you would like to learn more about getting involved with JA, visit the Volunteers section of our website.