The topics were:
Each student was given a future occupation based on their current plans, whether it be going straight to the workforce or continuing their education (options included trade school, community college, bachelor’s, and master’s degree options). Each occupation provided a student with a gross income.
Next, students completed a worksheet by documenting their level of education, gross annual salary, income, marital status, and a certain number of specifically aged children. Then they were asked to determine their net pay based on the following deductions:
Students then headed to the simulation. The simulation included 12 stops at various tables, where life happens. Students were asked to calculate what the costs in the following areas:
The goal was to end the game with money left in their monthly budget. Most students did well with having at least a little bit of money left over, but many students were surprised at the cost of living and how hard it was to stretch their income out for a month. Many students mentioned that what they thought was a good salary turned out to not really be enough. Molly Smith, HS Counselor said, “I think the experience was fairly eye-opening. The students I talked to found it helpful and enjoyed it.”
Real Money. Real World. is a collaboration between The Ohio State University’s College of Food, Agriculture, and Environmental Sciences and their county extension offices. If you’d like to learn more about the experience, visit Home | Real Money. Real World. (osu.edu).