By Ian Griffin Managing Editor
Northeast Texas Community College recently hosted its ¡°Money Matters¡± financial literacy event designed to provide students with helpful budgeting techniques including ways to combat financial hardships. Financial Literacy Coach Linda Forest said Money Matters, formerly known as Mad City, is held each semester to help students develop essential skills that will assist them as they learn how to plan and budget their finances.
A total of 93 students and 23 volunteers participated in the latest Money Matters event. During the budget simulation, students are given a life scenario with their monthly living expenses. One student¡¯s scenario might be a single parent with two kids making $2,000 a month working two jobs, while another student¡¯s situation could be that they are married with three children, an elderly parent living in the household and a monthly income of $3,000. Once the students are given their scenario, they then visited 10 booths each designed to challenge their budgeting skills.
One station focused on housing and the effect of that cost on each person¡¯s budget. Other stations focused on transportation, food costs and entertainment. There were even stations dealing with childcare costs. The students¡¯ mock budgets required budgeting the daily and monthly living expenses that a person would incur if they lived independently. One booth even offered a financial counselor to help them work through their budgeting problems. ?
NTCC Freshman Casey Jones said the event made her think about the importance of learning how to budget her finances. ¡°I think I will use it for managing money going forward, Jones, said. ¡°If I go to the grocery store, and I know how much this is, I can do it in my calculator before I actually buy it to see how much I have left over.¡± Jones, a nursing major and Eagle softball athlete, said learning about the consequences of going into debt is probably the most important thing she took away from the event. ?
¡°I think I will use it for managing money going forward, Jones, said. ¡°If I go to the grocery store, and I know how much this is, I can do it in my calculator before I actually buy it to see how much I have left over.¡± Jones, a nursing major and Eagle softball athlete, said learning about the consequences of going into debt is probably the most important thing she took away from the event. ?
Jones said she was excited when she finished the simulation with money left over in her budget. Forest said watching the students benefit from the process is one of the things that makes Money Matters so rewarding. ¡°It was fun listening to the students¡¯ conversations and how proud they were of their budgeting skills,¡± Forest said.
NTCC High School Transition Coach Asenet Obregon volunteered and worked with students at the housing booth. Obregon shared her thoughts on the benefits for students. ¡°I really do think it was a really good experience for them to participate in the event,¡± Obregon said. ¡°Budgeting is something that is needed to know how to use those strategies in real life.¡±
Obregon said events like Money Matters can help students as they prepare to go into the workforce. ¡°Students will need to use these strategies in life eventually whether or not they think they are ready for it not,¡± she said. ¡°This teaches them strategies for later in life.¡±??