Students in each of Warren City Schools four PK-8 buildings experienced a taste of what it means to balance a budget and work “to make ends meet” each month during “Real Money, Real World” simulations May 7 and 8.
The project was made available to the students through a partnership with the Ohio State University extension.
Lessons in their math classes the week prior to the stimulations prepared the students for the real life situations and money management activities.
Marie Economos of the OSU extension said the goal is to prepare the students for life challenges as they transition into becoming adults.
Each students was assigned a career, a monthly salary and a specific number of children. They visited various stations, making spending choices along the way that were based on their family situation. The goal was to have enough money “to make ends meet” at the end of the month.
The four classroom lessons were designed to prepare students to assume the role of a 27-year-old adult who is the primary income provider for a family. Students learned to subtract savings, taxes, and other deductions
from their monthly income. The amount of money left over is what they spent during the simulation activity.
Students spent their money at the various stations on items typically found in a monthly budget, including housing, utilities, groceries, insurance, child care, and transportation. Throughout the activity, students kept track of their finances and attempted to complete the simulation with a positive
balance.
