The program, presented by The Ohio State University Extension Service, helped teach eighth-graders how to manage their money in the real world.
They were told they were the sole 25-year-old provider of their family, and they randomly picked whether they had as many as three children in their families or none at all.
The students obtained a job and resulting salary based on their current grade-point average. They then learned about each of the pay deductions — health insurance, retirement savings, federal, state and local tax and Social Security and Medicare.
Once they had a remaining balance, the students then had to pay off their monthly bills. They bought their home, their transportation, the insurance for both, clothing, food, child care (if needed), communications, utilities, credit cards, entertainment and could pay for financial advice.
Some students went into debt.
“I think it gives them a really good perspective over what it means to be an adult,” said Jaime Hutchins, an eighth-grade math teacher. “And (the information) is coming to them from adults who aren’t their parents or teachers. It’s more powerful coming from someone they don’t know.
“I had a young lady tell me, ‘life is expensive.’ And I don’t think she would have said that if I would have told her that.”
James Jordan, an extension educator for 4-H Youth Development through Ohio State University and Butler County, said students are given one chance to downgrade their original purchases.
And if they still can’t make ends meet, they can take on a part-time job to help meet their expenses.
One eighth-grader came to Sharon Dowden’s housing station and wanted to downgrade her home. Her simulation had her earning $18,000 a year with two children and a house payment of $500 per month.
Dowden, a retired counselor, explained to the student that she couldn’t go any lower if she wanted to own a home.
“It tells you how easy it is to get into debt without even meaning to,” said Katie Martin, an MMS eighth-grader.
“You’ve got to spend your money on the important things. And when you have a child, you’ve got to do everything you can to take care of them.”
Child care, where monthly costs ranged from $750 for an infant to $400 for a school-aged child, was an eye-opener for many of the students.
Variances for having multiple children in child care, and for whether the care giver was a licensed center or from a private home, were also given.
“I’m going to go home and thank my parents for taking care of me,” a student told a volunteer.
Almost mirroring the RMRW concept itself, this could be the last year for the program. The grant that currently pays for the program will expire after this year.
To help finance the program next year, area businesses are invited to contact Jackie Lankfer, the 4-H Program Assistant of OSU Extension Butler County, at (513) 785-6658, or send e-mail to: lankfer.2@osu.edu.
Changes in beliefs
Before RMRW: 42 percent of students found it important to save money.
After RMRW: 82 percent believed this.
Stay in School
Before: 59 percent
After: 85 percent
Do well in school
Before: 65 percent
After: 71 percent
Learn more about finances
Before: 39 percent
After: 82 percent
Source: The Ohio State University. Results based on post simulation student surveys.
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