Finance Park Fort Wayne: A Real-World Financial Simulation for Teens

Junior Achievement’s Finance Park in Fort Wayne, Indiana, offers a unique and immersive financial literacy experience for middle and high school students. It’s more than just a lesson; it’s a simulated adult life, allowing students to grapple with real-world financial decisions in a safe and controlled environment. The park is designed to bridge the gap between classroom learning and practical application, empowering young people to become financially responsible adults.

The day-long simulation begins with several weeks of classroom instruction led by teachers using the Junior Achievement curriculum. This preparatory phase covers essential financial concepts such as budgeting, banking, credit, investing, insurance, and career planning. Students research potential career paths, explore their expected income and deductions, and learn the importance of saving and responsible spending.

Upon arrival at Finance Park, students are assigned a life scenario, complete with a career, salary, family situation (single, married with children), and existing debt. Armed with this information, they navigate the park, which is designed to resemble a miniature city, complete with storefronts representing various businesses and service providers like banks, insurance companies, grocery stores, utilities, and retail outlets.

The core of the experience lies in the budget management simulation. Students visit each storefront to make financial decisions based on their assigned scenarios and the information they learned in the classroom. They must balance their income against expenses, make informed choices about housing, transportation, healthcare, and entertainment, and ultimately develop a balanced budget. They write checks, make deposits, and track their spending, experiencing the consequences of their decisions in real-time.

Volunteer mentors, often professionals from the local business community, guide the students through the simulation, providing advice and support as they navigate the financial landscape. These mentors help students understand the implications of their choices, answer questions, and encourage critical thinking. They share their own real-world experiences, offering valuable insights and perspectives that resonate with the students.

Finance Park Fort Wayne offers several key benefits. It fosters financial literacy by making abstract concepts tangible and relevant. It promotes critical thinking and decision-making skills by forcing students to weigh competing priorities and make informed choices. It enhances understanding of the relationship between education, career, and financial well-being. Furthermore, it provides exposure to different career paths and opportunities, inspiring students to set goals and plan for their future. By experiencing the challenges and rewards of managing finances, students gain a newfound appreciation for the importance of financial responsibility and are better prepared to succeed in the real world.