The Budget Challenge Blog

How long have you been teaching? 

This is my 11th year of teaching in my current program - an academically rigorous, classroom educational program for homeschoolers. I teach five different Social Studies classes. Prior to this, I've taught in a number of homeschool co-ops and homeschooled my own children. In a different career era, I was a CPA, CIA, CISA, and CMA - in other words, I worked in Accounting and in Internal Audit for a Fortune 40 company. My resume also includes several years in banking. Teaching Personal Finance is really a great use of all of my previous career experience. It's the best of both worlds!

How would you describe your school?

While it's not actually a private school, I like to describe it as an à la carte private school for homeschoolers. We provide an academically rigorous classroom learning experience for homeschooled students. 

How long have you been teaching the class in which you use the Budget Challenge?

This is my fifth year teaching Economics and Personal Finance to 11th- and 12th-graders. I have used Budget Challenge every year! I wouldn't teach this class without it.

What aspects of Budget Challenge do you find most beneficial to your students?

It's hard to narrow it down to just a few! I am a big believer in "experiential education”. It's one thing to learn that you need to pay your bills on time, diversify your investments, reconcile your bank account with your register (CFB), etc. But to experience that in a very real way through the simulation is what makes the learning stick. The first time my students have to meet savings goals while still having enough money to pay bills on time, they learn in a way that discussion alone cannot teach.

The CFB is absolutely priceless to help students truly understand what is happening with their money. This is the first time many of my students have worked with a spreadsheet, so it's a two-for-one experience!  After using the CFB, most of my students love it so much that they end up creating their own spreadsheets for their personal bank accounts. 

What part of the simulation do your students find most challenging?

I warn my students that the first three weeks of the simulation are the hardest- the week we choose vendors and then the first two weeks after the sim begins. It's like drinking in knowledge from a firehose as they learn: how to play the game, what all of these terms mean (401k, gross pay, CFB, how to pay a bill, what vendors to choose, etc.), how to adult, the chapter content, and they complete the homework questions, etc. And several of those early weeks have two chapters! But the overwhelm of this time period makes the simulation even better. After we all reconcile our CFBs with our bank accounts for the first time (whole-class activity) and have earned those first three trophies, we settle in and get into a flow state. It's beautiful.

The other challenging part is mastering cash flow and paying bills on time. They have a hard time understanding the timing of paying bills before they are due (you can't write a check dated today). I love that I don't have control over forgiving their late payments. It's really fun to see those light bulbs come on after that first student pays a bill late and gets the late fee. They get so mad about those fees. Then one diligent student pops up and says, “But you can have a one-time late fee waiver." And suddenly, that kid is the most popular kid in the class.

What do you like most about the program?

I love that my students have tangible experiences to anchor their learning. I love that the bills keep coming even over Spring Break! I love that I can't "fix” their problems for them when they mess up. I can help, but I can't waive the magic teacher wand and make it all go away. And I LOVE that what students learn in this class will be used for the rest of their lives. It can make a difference in their future spouses' lives, their families' lives, their retirement, and every day of their lives. No one ever asks, "When will I use this in real life?" in this class!

The CFB is the tool that really makes this program so incredibly real and valuable for my students' financial futures. 

What tips do you have for new teachers using Budget Challenge?

I recommend that new teachers participate in the Teacher Play opportunity for the full 10 weeks and complete it before their students start the simulation. Also, participate in the Teacher Play while your students are in their sim, too! My students love to compete with me for the highest performance score, most investments, leaderboard placement, etc.  Plus, by playing along, you are right there with them as things happen. Help them through those first few weeks with every tip and helpful piece of advice you can give them. Then, once they get going and earn a few trophies, let them manage their own bills and expenses

Over time, I have tweaked how we use the CFB to help students track their finances more effectively. We now mark cycle, due, and grace dates. We change the color of the “Sunday and holiday” dates so it's easier to see the dates we can't pay bills; we change the color of cells to indicate pending checks; and we turn rows green after the dates have passed and the CFB has been reconciled with the account balance. These steps have been important to a complete understanding of the process.

 Do you have a Budget Challenge story that is especially memorable?

Last year, one of the younger kids in our school asked his mom, "Who teaches the 'Life Class?"  As it turns out, he was talking about our Econ class. He had been listening in from the room next door all semester and wanted to know more about the class where you learn how to do life. Over the semester, he had heard us discussing all kinds of important life topics and was very excited about when he would be old enough to take the class. 

My class was at the top of the leaderboard for a little bit last week. They were so proud!! Suddenly, they were helping fellow students and holding each other accountable. While they had to do their part individually, they also became a team, realizing that they all had to succeed to be at the top. It was such a fun day to celebrate with them!! And as a teacher, I know that if they are at the top, they are all learning the adult-level personal finance skills that they will be able to carry with them forever.   

Budget Challenge is proud to launch a new award program dedicated to celebrating the exceptional educators who make financial literacy come alive in classrooms across the country. This year marks the introduction of our most prestigious honor, the Teacher of the Year Award, created to recognize an educator who not only reaches a high volume of students, but also inspires an extraordinary level of engagement and real-world learning.

We are thrilled to announce that the first-ever recipient of this award and a $1,000 cash prize is Joe Schoenfeld, a personal finance teacher at Elder High School in Cincinnati, Ohio.

Why Joe Schoenfeld Was Selected

The Teacher of the Year Award is built on one central idea: student engagement matters most. We analyze teacher performance nationwide by looking at both the total number of engaged students and the overall percentage of engagement achieved in the classroom.

Joe Schoenfeld is a level 12 teacher with 1,287 engaged students.  This easily ranks in the top five nationally for lifetime engaged students. Even more remarkable, Joe achieved an exceptional 86.32 percent engaged student rate, making him the clear top performer across thousands of educators.

These numbers reflect not just participation, but true involvement. They represent students who log in consistently, take action, compete, ask questions, and apply financial principles in meaningful ways. Joe’s classroom proves that engagement at scale is not only possible, but powerful.

Joe Schoenfeld’s Keys to Success: Coaching Mindset, Structure, and Real-World Accountability

Joe Schoenfeld is not only a personal finance teacher at Elder High School. He is also the varsity basketball coach. And that influence is easy to see the moment you step into his classroom.

Coaches know how to motivate. They hold students accountable. They push them to practice consistently, recover from mistakes, and keep showing up when things get difficult. Joe brings that same energy, structure, and encouragement into his Budget Challenge classroom, and it is one of the biggest reasons his students stay so highly engaged.

At the front of the room sits a classroom calendar that reinforces that coaching mindset. Paydays, as well as trophy and 401(k) deadlines are marked.  Important simulation dates are visible to every student, every day. Just like a game schedule or a practice plan, students always know what is coming next and what they need to prepare for.

Joe believes success is built through consistency, not luck. He tells students from the start that Budget Challenge will be new and sometimes confusing, and that he struggled the first time he played too. That honesty lowers anxiety and builds trust. Students know questions are welcome, mistakes are part of learning, and improvement is always possible.

Just like on the court, Joe focuses on quick adjustments. He reminds students that in class and in life, the best approach is to identify problems quickly and fix them. Rather than simply giving answers, he asks guiding questions so students learn how to solve issues on their own. That balance of support and accountability builds confidence fast.

Student grades are based on engagement, trophies earned, quiz performance, and overall score. Daily effort matters. Students quickly see that strong habits lead to strong results, all within a safe environment where they can learn from mistakes without real-world consequences.

Motivation also stays high through competition and teamwork. With support from a local bank, top students earn gift cards and the highest-performing class earns a donut day. The prizes add excitement, but the deeper impact is the culture. Students push one another to stay engaged because the entire class is competing together. No one wants to let the team down.

Nearly every class begins with students checking their dashboard alerts and actions needed. That daily routine mirrors real adult financial life. Bills do not wait. Deadlines do not pause. By building that habit now, Joe helps students develop awareness, discipline, and responsibility that will stay with them long after graduation.

Joe connects nearly every lesson back to real Budget Challenge decisions. Whether discussing credit scores, loan approval, or debt-to-income ratios, students use their own numbers from the simulation. The learning becomes real because they are living it.

Joe often says the beauty of Budget Challenge is that it feels real without risking real money. Students experience responsibility, pressure, recovery, and success in a safe environment. And much like in sports, they learn that effort, preparation, and persistence determine the outcome.

Leadership Support from Elder High School

Elder High School Principal Kurt Ruffing sees firsthand how this approach transforms students:

“At Elder, we believe it is not enough for students simply to learn financial terms. They must actually practice managing money. Budget Challenge gives our Financial Literacy students the chance to live as independent adults for ten weeks. They are paying bills, balancing a budget, building savings, and even thinking about credit and investing. That kind of real-world simulation builds financial confidence and responsibility long before graduation.”

Student Voices: Learning That Lasts

The real impact of Joe Schoenfeld’s classroom is best reflected in the voices of his students.

One current student shared how Budget Challenge transformed the way they think about managing money:

“I liked the Budget Challenge because it showed me how to pay bills, save money, and prepare for emergencies. The trophies pushed me to make better financial decisions, and I really saw the payoff by the end of the game. Now I actually understand how to budget and plan for the future.”

Another student emphasized how the simulation helped build long-term financial awareness:

“The Budget Challenge taught me how to build an emergency fund and understand the importance of a 401(k). I learned real skills that I know will help me make better financial decisions later in life.”

The impact of those lessons continues well beyond graduation. One former student shared:

“The Budget Challenge has definitely helped me stay on top of my real bills like rent, utilities, and insurance. It also prepared me for unexpected situations, and I feel much more confident handling life as it comes.”

A Standard of Excellence for the Nation

Joe Schoenfeld’s classroom represents the highest standard of what financial education can be. Through consistent structure, real-world application, and genuine care for student success, he has reached more than a thousand students and changed the way they approach money, responsibility, and long-term planning.

Congratulations, Joe!

We proudly congratulate Joe Schoenfeld as the 2024–25 Budget Challenge Teacher of the Year. His extraordinary student engagement, innovative classroom leadership, and lasting impact on financial confidence make him a truly deserving recipient of our highest honor.

This award marks the beginning of many stories we look forward to sharing as we continue to spotlight the educators across the country who bring financial education to life and prepare students for a stronger financial future.

Budget Challenge is proud to launch a new blog category dedicated to celebrating the exceptional educators who make financial literacy come alive in classrooms across the country. This year marks the introduction of our Best New Teacher Award, created to recognize outstanding first-year teachers who demonstrate remarkable student engagement and impactful instruction using the Budget Challenge program.

We are thrilled to announce that the very first recipient of this award and $500 is Sean Boley, a personal finance teacher at Bath High School in Lima, Ohio.

A Remarkable First Year of Impact

Mr. Boley achieved an impressive 95% student engagement, a rate that significantly surpasses typical program averages. Even more notable, over 50% of his students earned all six Budget Challenge trophies—a rare accomplishment that highlights their mastery of essential financial skills.  He even implemented Plus Investing during his initial year with the simulation.  Sean attributes some of his success to playing the Teacher Play alongside the students.  He said it is a great way to learn the simulation and it is also a lot of fun to experience it with the students. Sean also credits his four-part scoring system to motivating his students throughout the simulation. 

1. Weekly Engagement Score: tracking consistent activity and participation
2. Performance Score: bi-weekly grading that rewards trophies and strong habits
3. Cash Flow Check: a separate grade for using and maintaining a budget
4. Trophies Earned: a significant component of the overall grade

According to Bath High School Principal Mr. Jesko, the recognition is well-deserved:

"We are incredibly proud of Mr. Boley for earning the Budget Challenge’s ‘Best New Teacher’ award. His innovative use of the Budget Challenge simulation provides engaging and impactful learning and enables students to practice critical financial decision-making in a realistic and applicable sense. He is teaching our students essential life skills that can lead them to financial success as they plan for their future.

Real Student Growth, Real Financial Confidence

What makes Mr. Boley’s classroom stand out is not just test scores but also the transformation students experience as they gain financial confidence, independence, and excitement about their futures.

Past and current students shared how the experience shaped their understanding of personal finance:

“This program is very beneficial and can help you manage money in the right way.”

"The Budget Challenge had a lot of great points to it. It showed me how to use a 401(k), which I am now taking advantage of with my job. It showed me how to plan for later experiences and how to save money. It also showed me how to invest money smartly but aggressively."

"Budget Challenge is a great way for young people that don't understand much about finances to learn before they actually do in real life. The simulation provides an opportunity for what you will be experiencing once you are an adult. It is good in the long run because it gives students the ability to look at when bills are due, keep track of your bills, and also how to make a budget."

This growth is the kind that gets noticed at home. One parent shared:

“Mr. Boley has had two of my kids in his personal finance course that uses the Budget Challenge framework as the basis for the course. As I have observed, they were both very engaged in the material and talking about their future goals. I have found myself wishing something like this was offered when I was their age! I’m glad my kids are excited to put what they are learning into real life action!”

A Teacher Who Brings Financial Literacy to Life

Mr. Boley’s dedication to creating an engaging learning environment has had a profound impact on students’ financial readiness. That enthusiasm is evident in his own reflections on receiving the award:

"It is a great honor to receive this recognition! This simulation does more than teach financial literacy—it builds financial confidence. The game-like approach, with its competitive leaderboards and immediate feedback, completely transforms my students' motivation. They're not just learning principles; they're eagerly applying them. I'm not just preparing them for a test; I'm giving them a safe space to make financial mistakes and learn resilience. They experience the direct link between daily choices and long-term goals, whether managing debt or building a 401(k). It's here that they learn to navigate the entire financial landscape, so they emerge not just informed, but truly empowered to manage their finances and achieve their future aspirations."

His commitment to helping students build real-world financial habits aligns deeply with the mission of Budget Challenge and with Ohio’s statewide requirement for personal finance education, which he helps fulfill with purpose and passion.

Congratulations Sean!

We congratulate Sean Boley on being named our 2024-25 Best New Teacher Award winner. His first-year achievements set a high bar and exemplify how dedicated educators can use Budget Challenge to empower students with lifelong financial skills.

This new award category marks the first of many stories we look forward to sharing, highlighting teachers across the country who bring financial education to life in inspiring ways.

Karen Kurtz, a teacher from Stamford, CT, has used Budget Challenge in her classes since 2015 with great success. Read her guest blog post about her experiences using the program in her Honors Financial Planning course.

As an educator with over 30 years of teaching experience, I have had the privilege of guiding countless students through 11th grade Honors Financial Planning, a course that emphasizes the importance of real-world financial literacy.

Since 2015, I have incorporated Budget Challenge as a key supplement to my curriculum, and it has proven to be an invaluable tool in helping students connect classroom concepts to practical financial decision-making. The simulation's hands-on approach—requiring students to manage bills, savings, credit, and investments in real time—engages them in a way that traditional instruction alone cannot.

Over the years, I have witnessed how this program fosters responsibility, critical thinking, and confidence in financial management, equipping students with essential life skills that extend far beyond the classroom.

I also appreciate how the program emphasizes time management, personal responsibility, and long-term planning, especially through components such as budgeting and contributing to a 401(k). The weekly score updates and leaderboards motivate students to stay engaged and accountable, while the teaching resources and automatic tracking make it easy for me to monitor progress and reinforce key lessons.

Throughout the years, the teacher's home page has kept getting better and better. Overall, Budget Challenge bridges the gap between theory and practice in a way that truly prepares students for financial independence.

For any teacher just starting out with the program I would suggest setting aside time every few days to let the students pay their bills, update their budget sheet, and ask questions. Students often find the time management, bill payment aspects, and unexpected disasters of the Budget Challenge simulation to be the most challenging, especially if a bill is due during a school break. Because the program mirrors real-world financial responsibilities, students quickly realize how important it is to stay organized and meet deadlines. Keeping track of due dates and avoiding late fees can initially be overwhelming, especially when they are managing multiple bills and financial tasks at once. These challenges, however, are also some of the most valuable learning experiences the simulation provides—teaching students that financial success depends not only on knowing what to do, but on developing consistent habits, attention to detail, and the ability to plan ahead.

Throughout the years I have had many students remark that this was their favorite activity in my class.

Kathy Simindinger, a teacher at Rhodes State College in Ohio, has used Budget Challenge to teach a personal finance course. Read about her experience.

How long have you been teaching?  

For over 40 years

 How would you describe your school?   

We are a community college in northwest Ohio. Through our state's College Credit Plus program, we offer college credit to high school students. Our FIN-1250 Personal Finance course allows high school students to fulfil their high school financial literacy graduation requirement while also earning college credit hours.  They receive both high school and college transcripted credit hours while enrolled in this class.

How long have you been teaching the class where you use Budget Challenge? 

Over 10 years

How many years have you used Budget Challenge?  

Approximately 4 years

What class/grade do you use the program in?   

For both high school and college students

What aspects of Budget Challenge do you find most beneficial to your students?  

At the end of each semester, the students are required to complete a review of the course content.  They consistently report that the Budget Challenge simulation tool provides them with a very valuable and beneficial learning experience.

 What do you like most about the program?  

It requires the students to become mature adults in terms of financial responsibilities. 

What tips do you have for new teachers using Budget Challenge? 

I highly recommend this textbook and simulation tool.  Their helpdesk and customer service are the BEST!  They provide outstanding support for the teachers and the students.

Do you have a Budget Challenge story that is especially memorable?  

Enrollment in this course has grown significantly since we switched to the Budget Challenge textbook and simulation tool.

At Budget Challenge, we’re always looking for ways to make teaching easier and learning more meaningful. Each year, we carefully review teacher and student feedback to identify improvements. Here’s what’s new for the 2025–2026 school year:

+Investing is now included in every Budget Challenge license.

No more separate purchases. Pricing is $30/license (‘forever’ licenses that never expires) or $24/license with the volume discount (valid for the year purchased only).

Engagement Scoring, Mobile App & Engagement Booster Tools

Our motto “Learning by Doing” includes learning from mistakes.  Therefore, having an engagement score that more accurately reflects student effort, independent of performance, that gives clear actionable feedback is imperative.  We understand that students have to get up the learning curve, they won’t be perfect from the get-go.  The goal of the new engagement score is to help students build good habits to make financially sound decisions.  This is what the newly redesigned engagement score brings to the table.  Check out the Engagement Score video that explains how the new Engagement Score works. 

Student engagement data is visible to teachers on Teacher Home using the Boost Engagement button next to the class.  This is where teachers can identify students that need reminders or encouragement to participate.  The new Engagement Booster functionality allows teachers to communicate with students who need nudging via customizable notifications to the student’s Budget Challenge account, app, and email (if using). 

The mobile app has also been upgraded. Students can now receive push notifications directly on their devices, and teachers can “nudge” students for things like missed logins, unpaid bills, or high credit card utilization. You can also send custom push notifications to an entire class, making it easier to maximize engagement and extend learning beyond the classroom.

Updated Teacher Guide, Pacing Guide, and Weekly Guide Emails for Teachers

We received many requests for better guidance on how to pair the textbook curriculum with the simulation.  The updated Teacher Guide aims to bridge that gap with more details on how the simulation works, a Pacing Guide, and icons for easier navigation within the Teacher Guide, Textbook, and website.

The new Pacing Guide outlines material to be covered beginning with 2 weeks of student onboarding and 10 weeks of the simulation.  It recommends which textbook chapters, Real-World Activities, and Guided Readings best align with the progression of the learning and events that happen in the simulation. 

A Weekly Guide Email will be sent to teachers with just in time information on what expect in the upcoming week.  This email combines information from the Pacing Guide as well as quick tips to help you stay on track with the curriculum and simulation.

+Investing Enhancements

We’ve added a News Desk that displays daily market headlines, market indicators, and commentary to accompany daily changes in fund pricing and market data. This gives students a more realistic connection between news events and market behavior.

Easier Teaching Team Management

You can now invite new teachers directly to your team through the Manage Users page. This skips the manual verification process and speeds up onboarding.

Streamlined Teacher Menus and Icons

Administrative functions like class creation, requesting a quote, and managing your teaching team are now grouped under an Admin Menu (click your name in the top right corner). Your Teacher Home pages will remain focused on simulation, curriculum, and teaching tools.  We are also adding color coded icons (some are featured here) to help find the resources you are looking for.

Create a Class Page

We’ve redesigned the Create a Class page to encourage more competition and collaboration. You’ll now be able to see when other teachers are running simulations and how many licenses they’re using, making it easier to sync up with colleagues.

SSO / Class Rostering

We’ve made a major step forward integrating with popular educational platforms.  Budget Challenge now works with ClassLink, Google Classroom, Canvas, Schoology, & Clever.  There are more on the way, so lo let us know what you use.

How long have you been teaching?
I have been teaching for 33 years.

How would you describe your school?
North Star Academy is an urban charter school in Newark, New Jersey. We have 14 schools in Newark, including two high schools.

How long have you been teaching the class for which you use Budget Challenge?
We adopted The Budget Challenge in 2020 as a result of the pandemic. It helped us go all-digital for a class that had been purely pen and paper-based.

What class/grade do you use the program in?
I am the principal of our high school. I teach Budget Challenge as part of 12th grade Financial Literacy, which is a graduation requirement in New Jersey.

What aspects of Budget Challenge do you find most beneficial to your students?
Students actually benefit equally from the simulation and the online quiz content. I think that the program is nicely balanced between the two.

What part of the simulation do your students find most challenging?
They don’t really like keeping up with the Cash Flow Spreadsheet. But I’ve found that it does model the organizational ability needed by adults. It’s realistic.

What do you like most about the program?
Actually, the customer service might be one of the best parts. Our students don’t overuse the help button, but it is remarkable how quickly they get a response. I have asked some students to email at the beginning of class, and they often have an answer to them before class is dismissed. I have never seen such a response rate.

What tips do you have for new teachers using Budget Challenge?
I would suggest playing along with students. There is no better way to learn all of the components. I have also found it a little difficult to manage the trophy information and the videos. The videos could be better organized on the website. It is sometimes hard to find them. It would be helpful if there were in one library rather than scattered among the units.

Do you have a Budget Challenge story that is especially memorable?
The taxes unit is sometimes memorable. Some of our seniors are working in jobs where the employer is withholding their payroll taxes. When our students find out that they can get a refund if they file their taxes, that is a funny ‘adult’ moment. They often exclaim in surprise. They are shocked to learn that they can benefit by something like filing their taxes!

Jeanne White has taught for 19 years: 10 in middle school (in Texas) and 9 in high school overseas. Jeanne currently teaches at Kubasaki High School in Okinawa, Japan.

How would you describe your school?

We are located on an active-duty military. Our students are highly academically focused (with 18 AP classes available to choose from), highly engaged in school spirit (Dragon F.I.R.E. – Focus, Integrity, Respect, and Excellence), and charity / giving back minded with beach cleanups, environmental club, and support of other schools, volunteering and our MCJROTC program. Our students have lived in multiple countries and have attended 5-8 schools already worldwide.

How long have you been teaching the class you use Budget Challenge in?

I have been teaching Business and Personal Finance for 5 years and have used Budget Challenge since the beginning of my business (Personal Finance) classes.

What class/grade do you use the program in?

The majority of my students are 11th and 12th graders. While I have a couple of freshmen and sophomores (the class is open to 9-12), the juniors and seniors tend to be more highly motivated to take this class and get prepared for “adulting."

What aspects of Budget Challenge do you find most beneficial to your students?

The Cash Flow Budget tool is one of the best tools in Budget Challenge. The ability to view bills scheduled with formula bars programmed to update the balance column is super helpful for students to understand the immediate change in their budget with the input of the data. The dashboard alerts are amazing! When students use them (I always tell them to start with the dashboard alerts), they are most likely to be successful. When they aren't successful, we go back to the dashboard alerts, and there are so many of them that have been ignored or unopened. It's a great starting point for a discussion of keeping organized and following the timeline and progression of events.

What part of the simulation do your students find most challenging?

Most students struggle with the engagement of checking their accounts and CFB regularly. They tend to be more lax during a holiday week, and the leaderboard significantly changes when we return to school. Students are usually shocked and readily admit whether they were monitoring their Budget Challenge account over the holiday (or not).

What do you like most about the program?

While many students find this simulation stressful (their word, not mine), the comprehension and new understanding of making budgets, scheduling payments, and monitoring bank accounts is enlightening. They are better prepared for real-life occurrences after Budget Challenge. Students have a great sense of control, confidence, and mastery of financial literacy after this program. The chapters that address insurance, housing, cars, and careers (work/pay) are critical to their experience. There are light bulb moments in every class for different students, and they take this knowledge with them and process it. In the next class, they come back and may want to discuss something from the last class because they have had time to think about it and incorporate their new knowledge into what they "thought they knew."

What tips do you have for new teachers using Budget Challenge?

Start early. Try to give yourself an extra week to start the simulation. Get your class registered early. Watch the videos! They are very helpful. Read the material yourself first. Play the teacher simulation. It is super relevant and will help you as you “show” your students. I intentionally missed payments to show students how those actions impacted my score, budget, etc. Print the chapters for those who don’t read well online but like the paper copy. I allow my students to use the chapter as their “notes,” the quiz is an open book. I tell them I want them to know the information and learn it, not be penalized by a quiz.

Do you have a Budget Challenge story that is especially memorable?

I have sooo many memorable BC stories! The ones that stand out are those who are competitive and want to “beat" their opponent who doesn't work too hard. They ask me how to boost their score to the max, and after the holiday breaks (spring break, winter break, Thanksgiving), they are bumped to first or second place on the leaderboard and are proud of themselves. I take the top 3-4 students from each class (from each simulation) to an extended lunch (on my dime) supported by the school. Students get this privilege and recognition for their efforts in engaging with dedication to this program as an integral part of our class. They remember Budget Challenge years after they leave high school.

Thank you again for being a great program and an important part of my curriculum.

My students at Union Square Academy for Health Sciences in New York City are eager to participate in Budget Challenge during the second semester of the school year when our class transitions out of Participation in Government into Economics. Students are vocal about their desire to learn about personal finance and develop financial literacy skills. Although it's a common practice for Government and Economics to be taught as stand alone courses, independent from one another, it is vital for educators to develop unique ways to foster connections between personal finance, political science and civic engagement. 

Since 2020, there has been a renewed emphasis on civics in schools across America, as well as a push to include personal finance in core curriculum. This makes a lot of sense, civic engagement and financial literacy are both vital to being a contributing member of society, and are inherently interconnected in purpose and pedagogy. Practicing responsible financial habits and filing a tax return are meaningful civic responsibilities, similar to voting, serving on a jury and knowing your elected representatives in various levels and branches of government. Both civic engagement and personal finance emphasize learning by doing and have the ability to extend learning beyond the classroom.  As such, it is important for educators to find unique ways to overlap and interweave these educational initiatives.

When students in my Participation in Government and AP US Government & Politics classes transition to more economically aligned units of study during second semester, they start off by analyzing a pay stub to learn about how they personally contribute to government revenue and expenditure associated with fiscal policy. Over Civics Week, during the second week of March, students learn how to prepare and file a tax return. My students can utilize their financial documents from Budget Challenge for this task or their own W2 if they earned income from a part time job or a paid internship that is coordinated for students during their junior or senior as part of their career and technical education.

Grant writing is another meaningful project based learning endeavor that connects to budgeting and hones students' argumentative writing skills while extending students’ learning beyond the classroom. The process of writing a grant requires one to think strategically about money, determine community goals, and action plan for the future and most importantly, has potential for real world impact. My students' participation in Budget Challenge will be funded through a NEA Envision Equity Grant that I wrote and applied for over the summer of 2024 entitled Graduate with Financial $kills. Unlike most grants that often target non profit organizations, these NEA grants are specifically designed with teachers and schools in mind. I encourage all teachers to seek out and apply to grants as a meaningful expression of teacher leadership that elevates educators as multifaceted professionals that not only facilitate meaningful learning experience, but proactively seek out the funding sources necessary to extend learning beyond the classroom. Better yet, have your students identify and draft a grant proposal or cowrite a grant application together.

When I studied Economics in high school and college, my classes focused on theory and policy. Those lessons did not prepare me for adulthood or real life challenges such as purchasing insurance, filing a tax return or making sound investment decisions. The shortcomings of my own financial education within schools shaped my desire to provide my students with a hands-on approach to learning about spending, saving, and investing money responsibly that also fosters their civic readiness. As states begin to formalize civic engagement mandates, educational administrators need to develop ways to ensure financial literacy is included as a measure of civic readiness. Students in New York can earn a state seal of civic readiness on their high school diplomas for project work that includes developing action civics projects, participatory budgeting proposals, speech writing related to community issues, even completing a work based internship, yet preparing a tax return, creating an emergency fund or a diversified investment portfolio are not recognized as accredited tasks towards earning the graduation seal. The skill associated with borrowing and saving responsibly and their macroeconomic effects on our country warrant bundling personal finance into various civic education mandates.  

You can learn more about David, his teaching and see examples of his students’ civic engagement and financial literacy at his website: www.cagebustingclassrooms.com.

Under the Hood is back, and this time we will be taking a look at student reflections to better understand the impact of our 10-week experience.  Putting students in charge of adult finances not only empowers them; it also reshapes their perspective on money. What makes it so transformative? Let’s explore through the voices of students who’ve experienced it.

Hands-on Experiences are Impactful

“I now understand some of the financial challenges my parents faced and how important it is to pay bills on time. Participating in the Budget Challenge has made me realize how vital it is to stay on top of your finances and manage your money wisely."

Many students begin Budget Challenge believing money management is straightforward. However, the simulation shows the daily financial realities adults face. Exposing participants to unexpected expenses and deadlines replicates the pressure of maintaining a household budget.

“This experience was like a practice run for real life, and it taught me so much about the complexities of financial management. I now feel confident in my ability to make smarter decisions about saving, spending, and planning for the future.”

Confidence doesn’t come overnight—it’s built through trial and error and, yes, a bit of stress. The program immerses students in financial decision-making, teaching them to prioritize goals, meet deadlines, and prepare for the unexpected.

The Power of Financial Literacy

“I feel much more confident now in my ability to manage money and create a budget. The simulation showed me how important it is to have a plan for spending and saving, and it has eased my anxiety about handling finances in the future.”

Budgeting is more than math, it’s a mindset. Budget Challenge gives students a front-row seat to the importance of planning, showing how every choice, from paying bills to saving for emergencies, impacts financial security.

“Participating in this challenge made me realize how important it is to budget carefully, pay attention to due dates, and think ahead. I feel more equipped to handle my finances and have a better understanding of what it takes to be financially responsible.”

Through realistic scenarios, students learn that financial management is about more than just numbers. It’s about adaptability, planning, and the discipline to balance immediate needs with long-term goals.

Beyond the Basics: Building Lifelong Skills

“This program helped me understand the value of money and the importance of paying attention to every little detail, from due dates to saving strategies. I now feel more in control of my finances and better equipped to handle the complexities of financial management in real life.”

Budget Challenge doesn’t stop at the fundamentals. Financial decision-making in real-world situations over an extended time equips students with practical money management skills that extend far beyond the classroom.

“Through Budget Challenge, I realized that financial management is both a skill and a mindset. I learned how to balance my expenses, prioritize payments, and still save for my future goals. This experience has made me feel ready to tackle financial responsibilities with confidence.”

The key takeaway? Financial independence isn’t just about managing a paycheck—it’s about developing the habits and attitudes that lead to lifelong success.

Transformative Learning That Lasts

At its core, the Budget Challenge bridges the gap between theory and practice. It challenges students to think critically, manage stress, and take ownership of their financial future. As one participant put it:

“This challenge has completely changed the way I view money. It showed me that financial success is not just about earning but about managing and planning. I feel empowered and confident to take charge of my financial future after participating in this program.”

Few lessons are as crucial—or as empowering—for students entering adulthood as learning to master their finances. Thanks to this unique 10-week experience, many are now prepared to face the world with the skills, knowledge, and positive habits necessary for successful financial management.