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Students on the path to financial success
ARLINGTON Just because Kathy Fullerton left the classroom for the real estate world does not mean that she quit teaching.
Fullerton spent three days with the students at Arlington High School recently, giving them financial planning advice. As a guest lecturer in Personal Finance class, Fullerton brought a board game full of financial decision making skills for the students.
The premise of Fullertons advice comes from the popular book, Rich Dad, Poor Dad, by Robert Kyasake.
Some key points Fullerton stresses to the students are the importance of making your money work for you, and the need for financial education. Her simple strategies allow for people of all income levels to successfully avoid debt and live within their income.
Part of the Cash Flow game is the handing out of career cards with a given profession. Students may receive a doctor card, giving them a doctors salary, or perhaps a truck driver or a stock broker. Whatever profession the students wind up with, it is their job to manage their assets in a way that keeps them from going broke.
If you have $1,600 in expenses every month, what must your earnings be to keep you out of the rat race? asked Fullerton
Hands shot up across the room and students answered correctly, $1,601.
But no matter what a worker might make, Fullerton emphasizes that living within a budget is possible and necessary to feel financially secure. In a world where credit cards and loans make luxury purchases available to everybody, this advice came as a shock to some students.
The students initially sought to land high paying job cards to give them the most flexibility with their income, but after two days of game play, some of the most successful students were those with less lucrative professions but who had the financial discipline to use their money wisely.