A news report on TV today talked about students going

[mac2]

to a local bank to learn how to budget their money. They were given a $40,000 salary and had to budget it as different professionals. That way they wouldn't abuse credit cards, etc. when they grow up.

Why don't we send our Congress, President, and agency heads to that banking school? Seems they can't budget either. It's pretty easy to spend other people's money. Bush thinks it's his piggy bank.

What happened to that legislation to keep within the budget? Oh ya...war and profiteering.

[sandnsea]

1. I've never made $40,000 in my life

Median salary is $24-30,000. Minimum wage is about a $12,000 income. Maybe when they start with reality, these kids will really learn something.

[sergeiAK]

5. This is for college students

Some of whom will never make that little after graduation. Some will be lucky to make that much after graduation. It's close enough to an average for college graduates to be useful, since it's difficult to predict actual pay rates.

Good program, I wish them luck with it.

Edit: At least the program like this I've seen was. There are apparently some for HS students too.

[HockeyMom]

2. My daughters did this as 8th graders

You are an accountant and make bla, bla. You have a wife and 2 kids. Your mortgage is ----, your car payment is, etc., etc.

They each were given different life experiences and had to prepare a monthly budget. My older daughter is now 29 and my younger daughter is 24. That is how long ago they did this.

[mac2]

4. Did it help her when she was an adult?

[mac2]

3. I think that is the average of some sort.

Me either...I had a degree but worked in research and hospitals.