The Bay Area nonprofit 10,000 Degrees recently brought its ‘Money Matters’ financial literacy workshop to Sylvester Greenwood Academy in Richmond.
The workshop is designed to help students from low-income backgrounds make informed college and career decisions.
During the event, high school students are given a mock career portfolio with an average yearly salary, a description of their roles and responsibilities, and the college education they completed to obtain their careers.
Students are then tasked with juggling set budgets and flexible pricing for day-to-day expenses, including housing, transportation, health, groceries, fun, and savings, according to 10,000 Degrees.
Students rotate between seven stations facilitated by 10,000 Degrees staff and volunteers. At each station, students are challenged to make difficult budgeting decisions, including being encouraged to spend more than they should on products and services they may or may not need to demonstrate the results of poor financial decision-making.
Volunteers participating in the event come from various companies and organizations, including Bank of America, Loomis, Sayles & Company, Mechanics Bank, Patelco Credit Union, and Poppy Bank.
Maria Hernandez, director of curriculum and engagement at 10,000 Degrees, said Money Matters offers a hands-on experience that helps students make smart financial decisions.
