Host Employees Help Students Learn About Personal Finance
On Wednesday, October 30, 14 employees from Host Hotels & Resorts visited Junior Achievement’s Finance Park in Montgomery County—a “mini-city” with storefronts set up to help students learn about personal finance. Host has volunteered with Junior Achievement since 2014 and as a proud sponsor, we had the opportunity to design and buildout the entertainment storefront last year.
The Host team, along with two parent volunteers, helped 84 seventh graders from Eastern Middle School work through simulations on a tablet that assigned each student a career, salary, credit score, debt, family and financial obligations.
Once they were well-acquainted with their adult identities, students traveled to the different storefronts to research various expenses such as a mortgage, car, clothes, groceries and insurance before preparing their budgets and spending their money.
Many of the students realized just how difficult spending decisions can be – with many finding that their decision to prioritize shopping for entertainment and travel had left them without enough money for essentials like food and housing! With the help of the volunteers, the students were able to reprioritize their spending and take to heart the importance of differentiating between needs and wants. With a debit card in hand, students returned to the storefronts to make their purchases.
Host Hotels & Resorts' Executive Vice President and Chief Investment Officer, Nathan Tyrrell, reflecting on his time manning the Host entertainment storefront, had this to say: "Working with the students at JA's Finance Park was incredibly rewarding. Seeing the kids realize the importance of the lessons we were sharing with them as they began 'spending' demonstrated just how impactful the program actually is."