Middle school students in Fairfax County are getting an early introduction to the financial realities of adulthood through a hands-on program at Junior Achievement’s Finance Park. The initiative, which is an annual event for eighth graders in Fairfax County Public Schools (FCPS), aims to provide practical lessons in budgeting, saving, and managing expenses.
During the day-long field trip, each student receives a randomly assigned life scenario that includes details such as career, income, credit score, education level, and family structure. Students then navigate various financial decisions—such as paying taxes, shopping for insurance and appliances, considering home ownership or renting, and prioritizing spending on both necessities and leisure activities.
The program aligns with FCPS’s Strategic Plan 2023-30 and its Portrait of a Graduate goals by building foundational financial literacy skills. FCPS requires all students to complete at least one economics and personal finance course before graduating from high school.
Volunteers guide students through different aspects of adult budgeting. For example, they discuss utility costs like water and electricity and offer tips for reducing energy use. They also address topics such as insurance needs—both for cars and pets—and the importance of understanding gross versus net income after taxes.
One volunteer shared a personal story about pet insurance: “Our cat, one day we woke up, and he couldn’t poop,” the volunteer says. “We had to take it to the emergency vet to get X-rayed and treated. The total cost was $10,000, but my wife and I had pet insurance, so all we had to pay was $900.”
Another volunteer explained the difference between gross monthly income and net monthly income: “It is time to pay taxes,” another volunteer tells them. “Remember that income you have with your identity, well, gross monthly income is before taxes are taken out. Net monthly income is the amount you have to spend each month.”
Students also learn about flexible spending accounts for medical expenses as well as retirement savings options like 401(k)s or IRAs.
According to Junior Achievement Finance Park: “The JA Finance Park experience prepares young people to be future-ready by exposing them to hands-on, practical experiences that develop critical skills such as problem-solving, decision-making and collaboration.”
Volunteers share advice on how students can save money—for example by shopping at warehouse clubs or thrift stores—and discuss strategies for making major purchases like cars more affordable over time.
After visiting all the storefronts in Finance Park, students create household budgets based on their assigned scenarios. Some discover challenges similar to those faced by many adults; for instance, one student with a lower credit score finds it difficult to qualify for a mortgage.
Glasgow Middle School Principal Lisa Barrow emphasized the value of this learning opportunity: “This annual trip to Finance Park is a vital experience for our eighth graders,” Glasgow Principal Lisa Barrow said. “Through these hands-on, role-playing experiences, our students leave understanding the value of smart budgeting, the power of saving and investing, and the true cost of adult life.”
At the end of their experience at Finance Park, many students express new perspectives on spending habits and financial planning. As Zach put it: “Today taught me you need to plan and to try to spend below your budget,” Zach says. “You also have to take chances, make investments. I have to admit my character got lucky though — my investments paid off into a profitable second income while other people did everything right and went broke after their basement flooded. That’s something to remember as well.”
