Reality store: Lexington 8th graders get life lessons on finances

Mark Caudill, Mansfield News Journal
·2 min read
Eighth grade student Joe Caudill works on his budget Tuesday morning at Lexington Junior High School.
Eighth grade student Joe Caudill works on his budget Tuesday morning at Lexington Junior High School.

LEXINGTON — Haley Davies is in financial trouble because of student loans.

"I'm in debt by negative $7,000," she said Tuesday morning.

Actually, Haley doesn't have to worry about student loan debt yet because she's in eighth grade.

She and her classmates at Lexington Junior High School got a dose of "reality" during the school's reality store exercise.

"We've been doing this for six or seven years now, minus COVID," junior high school counselor Jen Law said.

Budgeting to pay their bills for the month

Students learned a bit about what it means to be an adult. Each was assigned a career and corresponding paycheck. All students were assumed to be married as they visited 11 tables that included personal care, child care, housing and auto.

"They have to go to every single table and pay their bills for the month," Law said.

Lexington Junior High students participated in a reality store. They were assigned careers and learned to handle finances.
Lexington Junior High students participated in a reality store. They were assigned careers and learned to handle finances.

Several parents volunteered to man some of the tables, along with actual bank employees and representatives from State Farm Insurance. They were treated to coffee and pastries.

"I hope it's fun, but I hope it is also shocking, especially child care. They have no idea how expensive it is," Law said of the three classes of eighth graders.

Haley was certainly shocked by her student loan debt.

"I'm kind of scared for the future," she said.

Her assigned career was interior designer. Haley said she has not made a career decision yet.

Like Haley, Maggie Arnette also wound up in the red, but only by $104. Her assigned career was bricklayer.

"It (reality store) really gave us an idea of what it will feel like in the future and how to budget everything," Maggie said.

Learn about responsibilities

Ulo Ezike sported take-home pay of $2,655 as a radiologist/technician.

"It shows how one person has to pick up a lot of responsibilities," Ulo said of the exercise.

Lexington Junior High students were given a salary and a budget and were required to balance their finances Tuesday morning during the Reality Store program.
Lexington Junior High students were given a salary and a budget and were required to balance their finances Tuesday morning during the Reality Store program.

If Ulo fulfills her career goals, the eighth grader will be a cardiologist.

"I really like the heart and helping people," Ulo said.

Law said the careers and corresponding financial pictures all were done at random.

"It also tells them if they have any kids," she said.

Zach Frank learned he had two daughters, ages 3 and 18 months. He also paid 23% of his income on taxes.

Unlike many of his classmates, Zach said he was "not really" surprised by the costs associated with being an adult.

mcaudill@gannett.com

419-521-7219

Twitter: @MNJCaudill

This article originally appeared on Mansfield News Journal: Lexington Ohio students get lesson on financial management, budgets