Area's Neediest Teenagers Learn The Financial Facts of Life

Jennifer Abel of Virginia Cooperative Extension teaches financial literacy to Northern Virginia teenagers in foster care. (By Richard A. Lipski -- The Washington Post)
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It's also an exercise in making ends meet.

A classroom clerk, for example, who passes out folders, makes $900 a month. Make that $694 after taxes. Rent is $600 a month. Students can make extra money for good behavior, perfect attendance or homework, but they can also be fined for tardiness, rudeness or not doing their job. So far, no one has had to sit on the floor.

The money is all imaginary, but students keep careful track of their balances. Occasionally, Abel brings in real prizes, such as gift cards from Starbucks or Visa, and auctions them off.

Next semester, the class will focus on career planning. Students will take personality tests and do career assessments, Brothers said.

Another student said the lessons have been helpful. She will turn 18 soon and looks forward to living on her own and going to college to study cooking and business management.

But she knows she has much to learn. She has never written a check and doesn't have a savings account.

"Here, we get a chance to practice before we go out and do it on our own," she said.