“Mad City Money” – Teen Financial Boot Camp

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By Brenda McCuistion

 

Travis Credit Union hosted “Mad City Money “at Richmond Police Athletic League (RPAL) for high school students on June 22.

 

 

This program involve students in a simulation that gives them a taste of the real world – complete with occupation, salary, spouse, student loan debt, credit card debt, and medical insurance payments.

 

 

Students are taught how to create a budget based on their assigned income and family situation and are asked to visit merchants in “Mad City Money,” choosing their housing, transportation and purchasing their other needs and wants.

 

 

The young people are randomly visited by the “Fickle Finger of Fate” during the simulation, which distributes unexpected windfalls and unplanned expenses.

 

 

In the simulation, there are nine merchants including: car dealer, banker, entertainment, grocery store/restaurant, home stuff, kid care, the mall, realtor, credit union and a clothing and accessories store.

 

 

The students learn how to write a check and use a check register. They are also introduced to credit cards and interest rates.

 

 

In a number of students talked about what they learned from the simulation.

 

 

“Life doesn’t always go as planned. Today, I learned that I should have backup support money,” said Nia-Simone

 

 

“I purchased a boat, but chose to sell it to meet my budget. Rich people don’t really use boats. They just like looking at them,” said Jaysen Yalung

 

 

“Money doesn’t grow on trees is what most parents always say to their child and they’re right. Mad City Money taught me how to budget my money and how to write a check. This was a great experience and it was wonderful to be able to participate,” said Jordan Ealy

 

 

“I was able to get anything I wanted because of my good credit score,” said Ira Jackson

 

 

 

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