Wauconda High FBLA members teach money management in Dist. 118 schools

A group of Future Business Leaders of America from Wauconda High School visited all District 118 schools within the last two weeks delivering practical lessons about personal finance, budgeting, and saving.

“We believe that budget, overall, can solve so many of our financial problems that we have today, so why not practice smart spending young?” said Alex Schorr, a senior at WHS who worked with team members Senior Mandy Rodio and Junior Andrea Lichterman. “Emphasizing the need to manage money with the young will hopefully help to prevent their own future financial crises.”

Members of FBLA's American Enterprise Team sought to show the younger students smart money management through saving money and spending wisely. Fifth-graders at Cotton Creek, Robert Crown, and Wauconda Grade School were taught the difference between wants and needs, how to spend their allowance wisely, the importance of saving, and different methods to save. Eighth-graders from Wauconda and Matthews Middle School were prepared for financial obstacles they would incur in high school as well as educated on spending and saving skills at a more experienced level.

“This project not only helped the students we taught, but helped to reinforce our own money management habits,” Schorr stated.

“I definitely look at the way I spend money differently now,” explained Rodio. “Before I went through and taught these concepts, I had to make sure I was actually abiding by what I was teaching. We taught kids several methods of saving including the importance of paying yourself first and always setting aside a percentage of income for saving. I began to divvy any money that came my way and found that as soon as I stored away a portion of my income and stopped buying pointless things, I was able to save a substantial amount.”

The team received support from all District 118 schools, as well as area banks including Wauconda Community, Harris, PNC, and Fifth Third.

“Everyone we talked to was so willing to get involved,” Lichterman stated. “The banks we talked to were relieved to see a group such as ours addressing what has become an important issue for younger students and teenagers today. The schools and teachers were also very receptive to the idea and more than willing to have us involved in their classrooms.” FBLA hopes to continue this involvement in years to come.

“We know that emphasizing the need to manage money, save, and spend wisely while kids are young will be beneficial in the years to come,” Schorr said. “Numerous students and adults alike are in the midst of financial crises. We believe that if we can get kids rooted in sensible money financing now, they will be better prepared to handle the future and properly resolve their own financial issues.”