HAUPPAUGE, N.Y. Teachers FCU will host Mad City Money, which teaches high school students basic money management within a real-life simulation.
High school students take on the role of an adult in futuristic “Mad City.” They are given jobs, income, a family and debt. Each student then must visit merchants to select housing, transportation, food, household necessities, clothing, day care, and other wants and needs, all while building a sensible budget.
Mad City Money said it allows participants to make mistakes and suffer the consequences of their decisions in a realistic, but safe, environment. Most participants are surprised to learn “I can’t have a big house and a new truck on my salary and still pay for day care and groceries.” Once the shock wears off, they reevaluate their choices and learn to manage their money more effectively, the company said. Plus, true to life, Fate visits each participant during the session, delivering a windfall check or an unexpected bill.
Once students have had their eyes opened by this simulation, the “Can I Make It on My Own?” Student Guide enforces what they have just learned and can be used to encourage teenagers to plan and budget for adult independence.
