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A $90,000 salary sounded exciting to Glasgow Middle School eighth grader Zach—until taxes, housing, insurance, savings and other adult expenses began competing for every dollar.

Zach and his classmates confronted those tradeoffs during a January visit to Junior Achievement’s Finance Park, where Fairfax County Public Schools eighth graders receive a daylong lesson in budgeting, financial planning and career choices.

Each student was randomly given an adult identity featuring a career, income, credit score, education level and family situation. Zach became an auto damage insurance investigator earning $90,000 a year, with a 640 credit score and no children.

Adoneyas was assigned the role of a traffic technician making $68,000 annually, with no children and a 720 credit score. Alan faced a tighter budget as a single father working in sales for $45,867 a year with a 590 credit score.

Students first calculated taxes and net monthly income. They then visited more than a dozen simulated storefronts to consider mortgages, rent, cars, insurance, appliances and pet care while also weighing debt payments, savings, vacations and entertainment.

The program emphasizes paying yourself first, treating savings and debt payments as regular monthly obligations rather than afterthoughts.

Glasgow Principal Lisa Barrow called the annual trip a vital experience that helps students understand smart budgeting, saving, investing and the actual cost of adult life.

The exercise supports financial-literacy goals in the FCPS Strategic Plan 2023-30 and the school system’s Portrait of a Graduate framework. FCPS students must also complete an economics and personal finance course before graduating from high school.

Everyday costs quickly add up

Students initially welcomed the prospect of spending their assigned incomes. Their enthusiasm was tested as volunteers introduced the routine expenses behind a household budget.

They discussed water, sewer and trash bills, along with possible ways to reduce energy costs, including unplugging unused devices and taking shorter showers. Other sessions covered car insurance, flexible spending accounts for medical costs and retirement savings through 401(k) plans and individual retirement accounts.

A lesson on pet expenses included one volunteer’s account of a cat that required emergency X-rays and treatment. The bill reached $10,000, but pet insurance reduced the family’s share to $900.

Kaitlin, a volunteer in the grocery area, recommended shopping at warehouse clubs such as Costco, choosing generic or store-brand products, using coupons and purchasing sale items.

Students also learned that thrift-store shopping could reduce clothing costs.

Girish, an employee of one of Junior Achievement’s corporate partners, offered practical guidance to a student dreaming of a yellow Lamborghini. He did not dismiss the goal, but suggested waiting until age 25, securing a good job and considering a used or leased model with about 10,000 miles.

Another volunteer encouraged students to explore investments through homeownership, stocks or a business while researching potential risks first.

Surprise setbacks force new choices

After completing the storefront sessions, students built household budgets that had to remain within their net monthly incomes.

Alan discovered that his assigned salary and 590 credit score made it difficult to qualify for the mortgage needed to buy his preferred home. He began searching for less expensive housing for himself and his hypothetical child.

Adoneyas took a restrained approach, questioning why a single person would need a large house or even a two-bedroom apartment.

Emma, assigned a $60,000 salary as a metal fabricator, tried to minimize food, utility and recreation expenses. She reasoned that her vegan diet could reduce grocery costs and proposed relying at times on a fireplace, blankets and candlelight. Her preferred activities—hiking, reading and playing soccer in a park—were inexpensive.

Then her simulated basement flooded. As the emergency drained her savings, she had to reconsider the money reserved for vacations.

Zach’s higher-paying identity also gained a side business producing an additional $500 each month. With his finances in better shape, he began considering charitable donations.

The uneven outcomes left him with a broader lesson: budgeting and spending below one’s means matter, but unexpected events can disrupt even careful plans.

“Today taught me you need to plan and to try to spend below your budget,” Zach said. He added that his character was fortunate because an investment produced extra income, while other students made responsible choices and still went broke after a flooded basement.