Lynwood High Students Learn Value of Money Through Hands-On Simulation

Lynwood, Calif. – About 120 Lynwood High seniors got a hands-on lesson in financial responsibly May 8 during a real-world scenario that sought to teach students how to wisely earn, spend and save money.

Held in the high school gym, the event, titled Mad City Money, was provided by SCE Federal Credit Union and its non-profit arm the Center for Financial Empowerment Learning.

“We want students to get an understanding of what they are facing when they get out in the world as far as the costs, because right now they really don’t have any idea,” said Abigail Ulm, Manager Center for Financial Empowerment. “Another big thing is they get to see that having a college education does affect their income.”

Students were randomly assigned different incomes based on occupations so that they could see that while certain occupations required a college education and accompanying student loans, they also saw the impact a degree had on income earned.

“These are all things that our students are going to face as soon as they graduate,” Lynwood High Principal Carlos Zaragoza said. “Our goal is to really make sure that we are equipping them with the tools they need to plan, budget and set their priorities so that they can succeed after leaving LHS.”

To learn how to keep a balanced checking account, the exercise required students to deposit money in their accounts and visit tables representing life expenditures for items such as a home, car, dining, childcare and shopping. They had to balance their incomes and spending to make it through the simulation.

“This is just another way that we are preparing our students to be successful once they move on to college and careers,” said Superintendent Paul Gothold. “I am thankful for our partnership with SCE Federal Credit Union because we hope that this will allow our students to avoid some of the pitfalls young adults face as they approach financial independence.”

This is the second year that the school has hosted the event and it is the largest group to go through the workshop. For many of the students, this was the first time they had come across these types of expenditures.

“I think everyone is getting an idea of what they are going to face when they leave school and face life,” said Guadalupe Murillo, 18, who will attend Long Beach State. “I am seeing all the things I am going to have to start planning for and all the bills I will have to pay.”

For many of the students, the exercise was an eye-opening experience and they have to plan for any expense that may come next.

“This is such a wonderful way to show our students what it is like to be an adult,” said Maria Lopez, Board of Education President. “This workshop engages the students and pressures them to keep their finances in order the way that we as adults do every day.”