ELA and Junior Achievement Finance Park - helping to build and solidify financial capability in South Florida’s young adults
Elder Law Associates Newsletter dated July 18, 2018
We have to do what we can to help wherever and whenever it is possible for us to help. - Jackie Chan.
At Elder Law Associates, we believe in making an impact through community service. Each year, our firm undertakes a number of charitable endeavors while our partners also undertake a lot of charitable activities on their own. One of the most notable activities that we are involved in is the JA Finance Park.
Last May, our partners Howard Krooks and Ellen Morris, along with associate attorney Dayami Sans, and our staff had the opportunity to volunteer at the Junior Achievement (JA) of South Florida Inc’s Finance Park as “business owners”. Our firm interacted with the students directly and helped them work through their budgeting process. It is always astonishing and fun to watch young minds work through real life financial situations.
JA Finance Park impacts over 150,000 middle school students annually by teaching through real-life experience. Students from local middle schools across the country are taught the concepts of personal financial management in the classroom. Then, on their trip to JA Finance Park they apply those concepts in a real-life business environment.
Each student creates a lifestyle budget where they have to factor in things such as real estate, cars, food budgets, entertainment budgets, the stock market and utilities by visiting the 16 businesses located within Finance Park. As they go through their “day”, they have to decide on how much they can spend each month on housing, food, clothing and even charity based on their own individualized lifestyle. Their individualized budget must be balanced by the end of their day at Finance Park.
JA Finance Park’s mission, using activities such as this one, is to inspire and prepare young people to succeed in a global economy. It’s not an easy task, but it’s the kind of challenge that JA takes on with creative energy, fervor, and decisive action, and the Elder Law Associates team is more than honored to be able to help.