How much will your car insurance cost? Can you afford to buy a house? Will you have any money for dinner out and a movie?
Graham Middle School 8th grade students considered these real-world issues recently as part of the Real Money, Real World financial literacy program. The simulation included a career, salary amount, and number of children. Using this profile, each student visited a variety of tables to purchase housing, food, clothing, insurance, child care, and other necessary items.
The program’s goals include helping students to understand:
- How the type of job affects how much income can be earned.
- The level of education needed to get the job desired.
- The amount of money deducted from paychecks for taxes, other withholdings, health insurance, and retirement.
- How financial institutions help with personal money management.
- What it costs to maintain a household.
- What it costs to care for a child.
- How every spending decision affects other spending opportunities.
Students also learned more about the variety of careers associated with the agriculture industry.