Mad City Money
April 27, 2011
Filed under Features
18 students in Abby Karsten’s Advanced Math Concepts class participated in a hands-on budget simulation on March 8, 2011, that incorporated the math they learned in class to situations in the real world.
The students were given a salary, family, and certain purchases they had to make. There were stations set up in the business office for the students to visit, ask questions and spend their money.
“This was really helpful because it gave us a sense of what life will be like when we are on our own,” said Karlee Heinemann, junior.
They learned skills such as budgeting, learning how to save money and spend it wisely.
“I wanted to practice making a monthly budget on their own, with close to real-life situations,” said Karsten.
The students had to realize that while they had to make big purchases, they also had every day purchases that would affect their savings and budgeting.
“I wanted them to see how difficult it is to pay back loans while every-day expenses continue,” said Karsten.
The main focus of this activity was to learn how to budget and spend money on certain expenses.
“It taught me how to budget my money and how important it is to keep track of what you have spent. I had fun because I came out on top,” said Forrest Obenhause, junior.
Some received random bonuses while others received extra expenses to pay, mirroring what could happen later on in their life since there are always obstacles people do not expect.
“I learned how to be able to balance my budget. It was really helpful to learn these things now before we get in the real world to experience them,” said Gilbert Garrison, senior.
The “merchants” were sitting at the stations selling different things such as baby toys, furniture and houses that the students had to see if they could fit into their budget.
“This was a great opportunity for students to learn from mistakes and practice math and budgeting skills,” said Karsten.
The merchants were to act like real sales people, so the students would know what they would be dealing with when they go to make big purchases on their own.
“The sellers were so good at selling their products, they made me want to buy what they were selling,” said Obenhause.
This simulation was intended to be an interesting way for the students to learn budgeting and using money wisely through a hands-on experience, as opposed to a lecture.
“I thought it was just so real, and I think it should be more than the concepts class because it was so helpful,” said Tate Matheny, junior.
There was generally positive feedback from the students who participated in this simulation.
“Oh for sure it should be done in the future, it was really helpful and fun,” said BJ Yeager, junior.