How to Win $100k Scholarship Playing Financial Literacy for Teens Game

While growing up financial literacy was never really a topic of discussion. I saw money being made and money being spent but never really talked about . It is a shame because I’m sure so many of my financial mistakes could have been avoided. The closest thing I came to financial literacy was creating a budget using an income and expenses worksheet. I learned the activity but not really the principles. I suppose it was a good start on my journey to financial literacy.

Fast forward a few years when it’s time to go to college and get my first real job after graduation. I knew the basics but not really the mindset behind the money. I struggled through. I got into a lot of debt with credit cards and student loans. In fact I still owe on my student loans and I filed for bankruptcy a few years ago.This is not the financial legacy I want to leave my kids. I want them to have a smart financial future. Fortunately I’ve been hearing about teen literacy programs like the H&R Block Budget Challenge.

The H&R Block Budget Challenge is a free, financial literacy for teens program developed in the form of an online game for the classroom that simulates real life as an adult, including paying bills, credit cards, saving and more.

Imagine being able to get important financial education at school? Most schools do not teach a course on money management or financial literacy for teens. The parents are entirely responsible for this education, but unfortunately many are not equipped to teach their teens great money habits. The H&R Block financial literacy for teens program fills the gap because they stepped up and created a program to be taught in schools. It is fitting that a financial institution would do this. Great for building knowledge and relationships.

Who the Financial Literacy for Teens Program is For?

The program is designed to be taken in high school so it is for teens. A teacher must enroll the class for them to join the program. Home study programs are also eligible.

How to Participate in the Financial Literacy for Teens?

The program is an online game featuring real life experiences employees face after leaving college. The teen logs in and becomes a part of a wide network of other teens playing the same game.

What Do They Learn in the Financial Literacy for Teens?

Through the course of the game teens learn how to manage their money by earning, spending, saving, and investing their dollars. The students are scored based on the amount of money saved minus any fees that must be deducted. They are thrown into real life crisis scenarios that require them to think their way through a financial emergency

What are the Incentives?

Why would a teen want to be a part of this financial literacy for teens program? Other than for the information I’m thinking it’s probably for the amazing scholarships they can win for doing well in the program. H&R Block gives both classrooms and individual students a chance to win anywhere from $2500 to $100k in scholarships. I’d say that is a pretty awesome reason to learn how to manage money.

More than 90,000 teens participated in its first year, and they awarded teachers and teens more than $3 million in grants and scholarships. The company has announced the teen who finished first overall in the competition, earning a $100,000 scholarship.

During the middle of the school year five classrooms receive $2500. At the end of the year five classrooms receive $5000. The scholarship to 22 top Budget Challenge students is $20,000 and one student gets $100k.

And the Winner Is…

The most recent winner is Sean Lawrence, 17, of St. Clair, Michigan, is a senior at St. Clair High School. Following graduation in 2015, he will use his scholarship to pursue a degree in chemical engineering. He plans to attend Macomb Community College, Charter Township of Clinton, Michigan, for two years and then transfer to Western Michigan University. His goals for the future include working hard at a good paying job, while investing for retirement and saving for a house and a car.

This post was sponsored by H&R Block Foundation. The opinions expressed are my own.