Not completely everything needed to live a happy and prosperous life is always taught in school. Things such as running a household, managing a monthly budget or buying a house sometimes need some outside input in order to make sure that what students learn in a classroom get regular doses of reality.
On Tuesday, Feb. 9, a number of students from Notre Dame's accounting 2 class spent part of their day at the Quicken Loans Junior Achievement Finance Park in Detroit where they learned more about the budgeting and finance skills they eventually will need to become financially responsible adults.
“Our class already was studying how to budget personal finances and what real-life responsibilities are like,” said NDP teacher Katrina Palushaj, who organized the trip. “But taking what they learned in class and going to the JA Financial Park to apply what they’ve learned in more of a real-life setting was invaluable."
The Quicken Loans JA Finance Park is a Junior Achievement program that teaches financial literacy concepts and career exploration opportunities. At the end of the program, students typically have a one-day budget simulation where they’ll put their knowledge into practice.
Notre Dame students joined other area students in learning more about recognizing the fundamental role of income in managing their personal finances and the factors that affect income and take-home pay. It is hoped that after a session or two at the JA Financial Park, they also will begin to understand that the decisions they make about education and career will have an impact on their potential income and quality of life.
The students also explored the concept of saving and comparing investments as a part of their overall financial planning as well as examining risk and how insurance may help protect savings.
Comments or questions? mkelly@ndpma.org.
Follow us on Twitter @NDPMA
About Notre Dame Preparatory School and Marist Academy
Notre Dame Preparatory School and Marist Academy is a private, Catholic, independent, coeducational day school located in Oakland County. The school's upper division enrolls students in grades nine through twelve and has been named one of the nation's best 50 Catholic high schools (Acton Institute) four times since 2005. Notre Dame's middle and lower divisions enroll students in jr. kindergarten through grade eight. All three divisions are International Baccalaureate "World Schools." The Marist Fathers and Brothers sponsor NDPMA's Catholic identity and manages its educational program. Notre Dame is accredited by the Independent Schools Association of the Central States and the North Central Association Commission on Accreditation and School Improvement. For more on Notre Dame Preparatory School and Marist Academy, visit the school's home page at www.ndpma.org.