'Life Happens' with Mad City Money

On the morning of Nov. 17, students from Rio Grande Preparatory Institute were immersed into the world of MAD CITY MONEY simulation presented by United Way of Southwest New Mexico along with Senior Sponsor Citizens Bank and Freshman sponsor Royal Accounting Services.  MAD CITY MONEY simulation program was designed to provide a hands-on learning experience which allows students to experience financial realities of the world. 

The simulation was a 2 ½ hour event where volunteers, which included local community members, assisted students at various merchant tables.  Students were given a profile sheet that included comprehensive information regarding their occupation, associated income, marital status, children and more.  They were then directed to visit each booth representing typical life necessities such as a vehicle, realty and utilities, household items, food, clothing, and extra-curricular merchants were set up within the gymnasium.  Volunteers participated as “sales personnel” and assisted students in purchasing their selections/services.  Students then learned the value of budgeting and saving for the future while visiting the bank booth.

During the simulation volunteers were asked NOT to assist students, but rather to challenge them as they were making their decisions, so that they experienced real consequences.  Vendors would upsell the most expensive items to encourage students to spend over their means.  Students enjoyed making their selections and would make calculations on how much they were spending and would have to adjust their selections if needed.  During the simulation, “fate cards” were given and students would have an unexpected bill to pay or would come across unexpected extra money, such as a rebate.

As the simulation progressed, students were making comments such as, “WOW, kids are expensive!” and “That’s good I have a decent salary!” They were engaged in the simulation and were comparing their situation and choices with other students.  The simulation allowed for them to ask questions and to calculate their purchases and to create their monthly budget.  This also assisted them in thinking about the different choices each person makes.

The afternoon concluded with students sharing their experiences.  One student, stated “I found this useful on how I think about money.”  Many students shared that they noticed that the costs of items are higher, and they will be thinking about this as they spend money.  Volunteers and teachers were happy to see students engaged and truly thinking about money.  Some volunteers shared their own experiences so that students understood that managing finances is a life-long journey. 

United Way of Southwest New Mexico would like to thank Las Cruces Public Schools for their support in launching this new financial education opportunity as well as all the staff at Rio Grande Preparatory Institute, Senior Sponsor Citizens Bank, Freshman Sponsor Royal Accounting Services and all our volunteers.

For more information about this project, contact Monica Whitman, Community Engagement Specialist, at monicaw@uwswnm.org or call the United Way office at 575-524-7561.