Welcome to the Real World, Seniors

Seniors+Brooke+Boyd+and+Timothy+Spitzer+work+with+Mr.+Rhodes+to+make+sure+their+formulas+are+correct+on+their+projects.
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Welcome to the Real World, Seniors

Seniors Brooke Boyd and Timothy Spitzer work with Mr. Rhodes to make sure their formulas are correct on their projects.

Seniors Brooke Boyd and Timothy Spitzer work with Mr. Rhodes to make sure their formulas are correct on their projects.

Seniors Brooke Boyd and Timothy Spitzer work with Mr. Rhodes to make sure their formulas are correct on their projects.

Seniors Brooke Boyd and Timothy Spitzer work with Mr. Rhodes to make sure their formulas are correct on their projects.

Lucy Garcia, Editor-in-Chief

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Any Wade Hampton alumni that took Economics CP as a senior would have something to say about the infamous Personal Finance Project. This project, assigned every semester, tasks students with creating a realistic budget. Although it sounds simple, the project is tedious and requires students to crunch numbers and account for lots of data. Students must fill out one comprehensive spreadsheet where they document every single expense for a given month. Then, they must write an essay to pull everything together. Students are given almost two months to complete the project on their own. The project has recently been assigned the first-semester Gov/Econ seniors.

A seven-page instruction sheet details all of the steps to complete this daunting project. First, students must choose a job from which they can pull an entry-level salary. They must then choose a home to buy, one that is affordable with their salary. The house has to be paid off over a thirty year period, with an interest rate decided by the student’s first quarter grade. Along with a house, there are utilities, car payments, savings, credit, student loans, and food to worry about. Not to mention the taxes and insurance. All of these numbers are calculated by the student with formulas and the help of outside sources.

As with other projects that span long periods of time, many students tend to procrastinate the assignment until the last minute. Senior Timothy Spitzer, who is currently taking the class, commented, “It is due [a few days before] final exam day, so people will put it off thinking ‘I have plenty of time.’” Although many people claim that today’s high school students are unprepared for the real world, this project aims to prepare students for the world of personal finance, at least.