Finance Park Burbank, CA

Finance Park: A Real-World Financial Simulation in Burbank, CA

Finance Park in Burbank, California, is an immersive, experiential learning program designed to equip middle and high school students with the crucial financial literacy skills they need to navigate adulthood. More than just a classroom lesson, Finance Park provides a hands-on simulation that allows students to experience the realities of budgeting, making financial decisions, and understanding the impact of those choices on their lives.

The program, often run in partnership with Junior Achievement (JA), starts with several weeks of classroom preparation. Students learn foundational concepts such as income, expenses, budgeting, saving, credit, and investing. They explore different career paths and salaries, giving them a realistic understanding of the financial resources they might have in the future. This foundational knowledge is vital for their success in the simulation itself.

The heart of Finance Park is a simulated town, complete with storefronts representing various businesses and services. Students are assigned a life scenario, complete with a specific career, salary, marital status, and potentially, children. They then step into the role of an adult, making financial decisions based on their assigned profile. They visit different “businesses” within the park, such as a bank, a grocery store, a car dealership, and a housing provider, to make choices about their financial obligations.

Throughout the simulation, students must create a balanced budget, allocating their income to various expenses, including housing, transportation, food, healthcare, entertainment, and savings. They learn the importance of prioritizing needs versus wants and the consequences of overspending or making poor financial decisions. Volunteers, often professionals from the financial industry, are on hand to provide guidance and support, helping students understand the implications of their choices.

One of the key benefits of Finance Park is its ability to connect abstract financial concepts to real-life situations. Students discover the challenges of managing a household budget, the importance of saving for unexpected expenses, and the potential impact of debt. They learn to differentiate between necessary expenses and discretionary spending, and to make informed decisions about their financial future.

Finance Park’s impact extends beyond the day of the simulation. By providing students with a tangible experience of financial responsibility, the program encourages them to develop positive financial habits and make informed decisions about their education and career paths. It aims to empower young people to take control of their financial futures and become responsible, financially literate adults.

The Finance Park in Burbank, CA, plays a critical role in fostering financial literacy among young people in the region. By providing a dynamic and engaging learning environment, it helps students develop the skills and knowledge they need to succeed in an increasingly complex financial world.