Local business owner Kyle Goodburlett of Goodburlet Automotive Group of Lowell shares transportation costs with students during a recent OSU Extension Real Money Real World financial literacy simulation held at the Washington County Career Center. (Photo provided)
With the help of several community volunteers staffing 14 business booths, juniors at the Washington County Career Center recently participated in a Real Money Real World Simulation. Students chose a career in simulation based on their current studies at WCCC. They spent their monthly salary visiting various booths and making spending choices based on their family situation, hoping that they would have enough money to meet their needs at the end of the month.
The program consists of four classroom lessons to prepare students to assume the role of a 27-year-old who is the primary breadwinner of a family. Students learned to deduct savings, taxes and other deductions from their monthly income. The amount of money they spend during the simulation is saved.
Students spent their money at booths staffed by community volunteers for items typically found in a monthly budget, including housing, utilities, groceries, insurance, child care and transportation. Throughout the activity, students tracked their finances and attempted to complete the simulation with a positive balance.
The project is a product of OSU Extension and WCCC faculty Ms. Webb and Mr. 4-H Extension Educator Bruce Zimmer along with Ritzman organized the school.
During the post-simulation lesson, students reflected on their experience and what they learned by completing a self-assessment. The students thoroughly enjoyed their experience, but were shocked at how difficult it was to meet the monthly budget. Many had a newfound respect for their parents and what they do on a daily basis. At the end of the experience, students’ comments, “Children are precious” “Cost of living is too expensive” “Debt can be good or bad” And “Things cost more than expected.”
Teachers can learn more about real-money, real-world giving at their high school by contacting OSU Extension at 740-376-7431 or emailing Zimmer at [email protected]
