The H and R Block Budget Challenge is an online simulated experience tool available to educators. The program, which seems like a game to most young adults, portrays the financial pressures of adulthood. Although the Budget Challenge is available year-round, it holds special importance this April, which is National Financial Literacy Month. To celebrate the holiday, H And R Block will award over $1.3 million in scholarship money to Budget Challenge participants.
According to the Council for Economic Education, financial literacy classes are only required for high school graduation in seven states. This might explain why H And R Block has discovered that 58 percent of teens worry that they will experience more financial hardship than their parents have. Unfortunately, there are few outlets from which teenagers can get sound financial information.
The H and R Block Budget Challenge works to change that fact. The platform offers real world financial education to 155,000 high school students across every state. Over the month of April, H And R Block will monitor the top Budget Challenge performers and award them with scholarships for higher education. Students who do not win a scholarship will still see improvement in their financial confidence. Over 95 percent of participating educators attest to the effectiveness of the Budget Challenge in teaching teens financial literacy.