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Money Management: Area Students Learn to Live Life as an Adult on a Budget

ROCKFORD - Lydia Urban Academy students getting a dose of the real world.
ROCKFORD - Stateline students getting a dose of the real world.

It's part of a class at Rockford's Lydia Urban Academy to simulate what their lives would be like as adults. Students get a budget to buy a home, car, insurance -- and then learn if they've made smart choices based on their financial limits.

Teachers say it's better to realize money mistakes now rather than later.

"It's very important to understand the decisions we make now rather than looking back and regretting that we spent so much on our mortgage or on a car and now we're living in debt," says Eric Gilbret, teacher at L.U.A.

Students based their personal budgets on pre-selected career choices.

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