{"id":22162,"date":"2016-08-31T15:00:00","date_gmt":"2016-08-31T15:00:00","guid":{"rendered":"https:\/\/resource-center.hrblock.com\/newsroom\/hr-block-launches-third-year-budget-challenge\/"},"modified":"2023-03-02T12:37:54","modified_gmt":"2023-03-02T18:37:54","slug":"budget-challenge-gets-teens-real-world-ready","status":"publish","type":"newsroom","link":"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/newsroom\/around-block\/our-purpose\/budget-challenge-gets-teens-real-world-ready\/","title":{"rendered":"H&#038;R Block helps high school teachers tackle financial literacy in the classroom"},"content":{"rendered":"<h2 title=\"H&amp;R Block Budget Challenge gets teens real-world ready; offers $200,000 in scholarships\">H&amp;R Block Budget Challenge gets teens real-world ready; offers $200,000 in scholarships<\/h2>\n<p>When asked about financial literacy, <a href=\"http:\/\/www.schwabmoneywise.com\/public\/file\/P-4192268\/110526-SCHWAB-TEENSMONEY.pdf\">86 percent of teens say they would rather learn about money management in a class before making mistakes in the real world<\/a>. Good news for those teens: the H&amp;R Block Budget Challenge is back with sessions beginning Sept. 8 in high schools nationwide.<\/p>\n<p>Offered free to high school teachers through H&amp;R Block, the online game teaches students to pay bills, manage expenses, save money, invest in retirement and pay taxes as if they were recent college graduates. In addition to gaining important life skills, 10 students will win $20,000 college scholarships based on their real-world readiness after completing the program.<\/p>\n<p>\u201cWe are committed to helping teens learn before they earn and have fun increasing their financial fitness,\u201d said Kathy Collins, chief marketing officer of H&amp;R Block. \u201cMore than 250,000 students have participated in the H&amp;R Block Budget Challenge to date. Their stories about the difference our financial education and scholarships have made for them make kicking off another school year even more exciting.\u201d<\/p>\n<h2>Real-world ready<\/h2>\n<p>More than 96 percent of teachers who have participated in the Block-sponsored program applaud its learn-by-doing approach. During game play, participants save an average of $1,350 virtually \u2013 a habit Collins and her team hope will carry over to the real world. Currently, 73 percent of millennials say they either have no savings or savings of less than $1,000.<\/p>\n<p>In addition to the importance of savings, Budget Challenge students learn the costly consequences of poor financial decisions, like bank overdraft fees. More than 90 percent of Budget Challenge participants said they\u2019re more likely to check account balances before writing checks rather than adding to the more than <a href=\"http:\/\/www.huffingtonpost.com\/entry\/atm-and-overdraft-fees-expensive_us_569fc48ae4b0875553c2936d\">$6 billion in overdraft and ATM fees<\/a> collected by large banks last year alone.<\/p>\n<p>Sugar Land, Texas scholarship winner <a href=\"https:\/\/www.hrblock.com\/tax-center\/around-block\/dollars-and-sense\/how-to-manage-your-money-tips\/\">Angela Lin\u2019s<\/a> Budget Challenge experience inspired her to take an active role managing her family\u2019s finances including paying the bills and creating a budget to help them meet their financial goals.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/content.presspage.com\/uploads\/1475\/800_hrbbs-grandprize-0001.jpg?10000\" width=\"270\" height=\"296\">&nbsp;<img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/content.presspage.com\/uploads\/1475\/800_hrbbs-grandprize-0002.jpg?10000\" width=\"387\" height=\"295\"><\/p>\n<p>A scholarship from H&amp;R Block allowed&nbsp;<a href=\"https:\/\/www.hrblock.com\/tax-center\/newsroom\/around-block\/dollars-and-sense\/teen-financial-literacy-program\/\">Emma Fancher of Guntersville, Ala.<\/a>&nbsp;to attend college debt free where she says her Budget Challenge knowledge was quickly applied. Watching many of her peers apply for credit cards, Emma knows how to analyze the pros and cons of a credit card, including interest rates and how a credit card will affect her credit score.<\/p>\n<p>To learn more; access full terms, conditions and eligibility requirements; or to register as a teacher, visit&nbsp;www.HRBDS.org.<\/p>\n<p>Editor\u2019s Note: Former participants \u2013 including students and teachers \u2013 are available to share their personal experiences with the H&amp;R Budget Challenge.<\/p>\n<h3><strong>About H&amp;R Block Dollars &amp; Sense<\/strong><\/h3>\n<p>H&amp;R Block, Inc. (NYSE: HRB) is a global consumer tax services provider. Tax return preparation services are provided by professional tax preparers in approximately 12,000 company-owned and franchise retail tax offices worldwide, and through H&amp;R Block tax software products for the DIY consumer. H&amp;R Block Dollars &amp; Sense is committed to increasing teens\u2019 financial fitness by providing practical financial skills and has helped more than 1 million teens become more real-world ready. For more information, visit the H&amp;R Block Newsroom,&nbsp;www.HRBDS.org&nbsp;or follow H&amp;R Block on&nbsp;<a href=\"https:\/\/twitter.com\/hrblock\">Twitter<\/a>,&nbsp;<a href=\"https:\/\/instagram.com\/hrblock\/\">Instagram<\/a>&nbsp;or&nbsp;<a href=\"https:\/\/www.facebook.com\/hrblock\">Facebook<\/a>.<\/p>\n<h3><strong>About ProperLiving<\/strong><\/h3>\n<p>Based out of Cincinnati, Ohio, ProperLiving, LLC owns and operates the Budget Challenge Personal Finance Simulation, which received a U.S. Patent in May 2013.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>H&amp;R Block Budget Challenge gets teens real-world ready; offers $200,000 in scholarships When asked about financial literacy, 86 percent of teens say they would rather learn about money management in a class before making mistakes in the real world. Good news for those teens: the H&amp;R Block Budget Challenge is back with sessions beginning Sept. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24681,"menu_order":0,"template":"","tags":[],"news-categories":[23376,23381],"class_list":["post-22162","newsroom","type-newsroom","status-publish","has-post-thumbnail","hentry","news-categories-around-block","news-categories-our-purpose"],"acf":{"post_rest_thumbnail_alt_id":null},"yoast_head":"<title>Real-world ready: H&amp;R Block Budget Challenge | H&amp;R Block Newsroom<\/title>\n<meta name=\"description\" content=\"H&amp;R Block Budget Challenge helps high school teachers and students tackle financial literacy in the classroom to understand money management for teens.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/newsroom\/around-block\/our-purpose\/budget-challenge-gets-teens-real-world-ready\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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