Coming this April, H & R Block would be commemorating National Financial Literacy Month. It will be awarding scholarships in excess of $1.3 million to the participants of the H and R Block Budget Challenge. The Challenge is a free web-based tool that teachers can avail to introduce teenagers to an adult’s financial pressures. The experience is simulated, similar to a game. The program is conducted throughout the year as a part of Dollar & Sense, the firm’s financial literacy platform.
According to a national survey, 42 percent of teens don’t see themselves as financially fit. And the research conducted by H And R Block denotes close to 58 percent of teens are not sure of properly handling their finances when they get older. Teenagers are keen on learning finance, but such courses are only offered at graduate degree-level.
H And R Block wants to fill in this vacuum through its Budget Challenge that’s being offered across 50 states to 155,000 school students this year. Last year, 100,000 students participated in the program. The scholarships are given to the top performers in April.
Even students who don’t win the scholarship would find the program beneficial. Almost every high school teacher believes participating in the program helps kids learn financial basics. In today’s world of inflation and financial crisis, such financial learning is vital for the youth.