Disclaimer~ I received a FREE copy of this product through the HOMESCHOOL REVIEW CREW in exchange for my honest review. I was not required to write a positive review nor was I compensated in any other way.
As a parent, I want both of my teens to understand the importance of creating a budget and sticking to that budget. I was ecstatic to be given the opportunity to review the PersonalFinanceLab Budgeting Game, Stock Market Game, and integrated curriculum from PersonalFinanceLab.com.
PersonalFinanceLab is a new online experimental education teaching tool designed to help students learn personal finance, economics, business skills, social studies, and math. Their unique combination of technology, real world market activity, and educational lessons was created to get students actively engaged in the learning process. The more engages students are, the more they will retain the important information provided in this curriculum. Their goal is to bring the classroom to life and to bring real life into the classroom!
What is the Finance Curriculum?
PersaonlFinanceLab is geared for middle and high school students. Students in grades 7th-12th will discover lessons and games all about finances.
PersonalFinanceLab provides students with so many wonderful opportunities. By using the world class portfolio simulation, students will be able to take what they have learned and apply it to real life situations. The curriculum provides students with over 100 integrated lessons on personal finance, economics, business, math, and social studies. This curriculum has everything a student needs to have a strong understanding of finances in today's world.
In addition to the lessons, there are quizzes to make sure the students have mastered the material. These quizzes are graded automatically. Parents do not need to worry about grading them. The program also contains interactive personal finance and business calculators that help students learn about saving and investing. Something we all need to be aware of in today's world.
The Learning Center contains over 600 articles, videos, glossary terms, and so much more. They even have tutorial videos for students and teachers if they are not comprehending the material or just need more instruction. If the tutorial videos do not answer your student's question, the company does provide live support from their financial education team during their regular business hours.
Students can play the Budgeting game, the Stock Market game, or work through the integrated curriculum.
What Have We Worked On?
Since by my teens have had jobs and will have more jobs in the future, we focused on the budgeting game. I felt this game was essential for them to succeed in life. If they can not budget their money, they will surely struggle in the future.
Setting up the Budgeting game was fairly simple. As the parent, I had my own dashboard. I used my dashboard to set up the information and then sent links for Michael and Therese to join in. Each student has their own dashboard. Their dashboard allows them to see their progress in each area.
In the budget game, students take on the role of a working young adult who is going to school too. The game is set up just like a monthly calendar. Each day requires the student to roll the dice twice, once for AM and then once for PM. As the students go through the month, on a daily basis, they will encounter real life situations, unexpected emergencies, and simple decisions that affect their daily lives. Along the way, the students will learn to manage their budget.
As the students work through the game, they will earn their paycheck. When their paycheck is received, they will be prompted to deposit their paycheck. Students then can decide how much to keep and how to set aside to save. Smart financial planning!
Students will have monthly bills (phone, rent, car, TV, internet) to figure out. Unexpected expenses will also pop up asking the student if they want to use debit or credit. Throughout the game, students will get a pop up with a math lesson in it. They can not go any further until they complete the math question correctly.
As they go along in their monthly schedule, students will be asked how they want to spend some of their free time. Depending on how they choose, students can end up earning a little extra income or must pay to go out and have some fun. I love how it allows them to make personal decisions and that they get to see what the results might be. If you decide to go out and socialize all the time, the money will disappear! If they choose to work an extra shift, they can see what hard work and dedication can do to their bank account!
What Have I Liked About the Budget Game?
I love how the game is set and follows real world lessons. Students can easily see what is coming in (green $ amounts) and what is going out (red $ amounts). Rent, phone, internet are expenses our teens will face. I love how they how given the option of going out with friends, working extra hours, or studying. It helps reinforce making the right decisions. Responsibility first, then have a little fun!
I will admit that when I first logged in, the dashboard was a little overwhelming to me. It seemed a little cluttered and I was not quite sure on where to begin. I still need to sit down and look more closely at the lessons and the stock market game. The stock market game scares me a little probably because I have no clue about it.
I'm hoping that once my teens complete this course, they will have a strong understanding of the financial world around them! I know they will have a better understanding than I did when I entered the real world!
Learn more about PersonalFinanceLab.com
Be sure to stop in and see what the rest of the crew members had to say about this fantastic finance curriculum!
Till Next Time,
Monique
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