KANSAS CITY, Mo., Oct. 04, 2017 (GLOBE NEWSWIRE) -- Nearly two thirds of Americans can’t pass a basic financial literacy test1 and 70 percent of teens don’t know what a 401(k) is,2—two of many indicators that financial education isn’t getting the attention it deserves. H&R Block is working to change that. During the 2017-2018 school year, H&R Block is giving high school teachers nationwide $2 million in curriculum they can use to teach their students about personal finance.
The curriculum is in the form of the H&R Block Budget Challenge, an online game where students pay bills, manage expenses, save money, invest in retirement and pay taxes as if they were entering the real world. Not only do students learn valuable life skills, 10 students will earn $20,000 scholarships for their performance in the program.
“There’s often a disconnect regarding where students should be learning about finances. Parents think they are learning about it at school, while schools believe those conversations are happening at home,” said Kathy Collins, chief marketing and strategy officer of H&R Block. “The H&R Block Budget Challenge is a way to make personal finance education more accessible and fun.”
Alex Brutus, a scholarship winner in the 2016-2017 H&R Budget Challenge, believes a lot of kids have a hard time managing money once they’re thrown into the real world. “Now I know a little bit more about what to expect in real life with my finances — like what kinds of bills I’ll have, how to pay them and why you should contribute to a 401(k),” Brutus said.
This marks the fourth year of the H&R Block Budget Challenge. H&R Block has invested more than $13 million in curriculum, grants and scholarships since the program’s inception. The H&R Block Budget Challenge is part of H&R Block Dollars & Sense, the company’s commitment to helping teens become financially responsible adults. To date, H&R Block has helped more than 1 million teens increase their money management knowledge through a variety of programs.
Registration for the 2017-18 H&R Block Budget Challenge is now open. To learn more, including eligibility requirements, or to register visit www.HRBDS.org.
Editor’s Note: Former participants – including students and teachers – are available to share their personal experiences with the H&R Budget Challenge.
About H&R Block Dollars & Sense
H&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&R Block tax software products for the DIY consumer. H&R Block Dollars & Sense is committed to increasing teens’ 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&R Block Newsroom, www.HRBDS.org or follow H&R Block on Twitter, Instagram or Facebook.
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.
Source: HRB Tax Group, Inc.