Cristen and Brianna.

How does a middle schooler spend $1 million? Responsibly, at least in district manager Cristen Baumann’s house!

Cristen’s daughter Brianna, 13, recently completed an assignment for her seventh-grade career pathing and personal finance elective. For the project, each student had to decide what to do with a hypothetical $1 million inheritance from a relative. Buying a home and a car was required, as was determining the taxes on each purchase. All of the money had to be accounted for on a spreadsheet where the student also explained their reasoning.

Brianna said she chose this elective because she wanted to learn more about spending and saving, and to start exploring career possibilities and figuring out what kind of income she’d earn and how much a degree would cost.

The assignment taught her a lot, she said.

“I learned the difference between checking accounts and savings accounts. I also learned about taxes that are due when you buy things and why taxes are due,” Brianna said. “And I learned how fast you can spend $1 million if you are not careful!”

She ultimately bought a condo in Oklahoma, where home prices and property taxes are lower than in Wisconsin. “She did set aside some funds for emergencies, home repairs, retirement, and vacation,” Cristen said.

Brianna said she had a lot of fun looking at houses all over the country on Zillow and that her least favorite part of the assignment was all the math involved.

“After I turned in my assignment my mom asked me if the condo allows dogs — because I want at least four!” she said. “I forgot to check.”

Want to help your kid learn more about financial wellness? North Shore Bank has some great educational materials online in our Learning Center. You can find lessons on topics like teaching kids about money and teaching financial literacy at home, along with interactive exercises for teens and younger children.