Henninger Students Learn Financial Responsibility in ‘Mad City’
Published on 5/8/18
District News Henninger High School
Henninger students planned their monthly household budget, taking into account the cost of housing, a car, childcare, vacations and more.
In ‘Mad City,’ a simulation run by Cooperative Federal Credit Union, juniors and seniors in Math and Finance and SUPA Personal Finance classes were each given a job, an income, a credit score and two hours to make hypothetical financial decisions. The goal: to learn about budgeting, credit, negotiating with people who don’t have their best interest at hand and ultimately, how to make wise financial decisions.
Students visited stations to make decisions about food, clothing, childcare, vacations, cell phone plans and more. At each station, they had to decide what type of investment they would make – each with a different consequence.
“It was interesting,” senior Mahkai Bailey said. “I feel like it really helped us prepare for real life. For this activity, I was a teacher. I learned that finances take a lot of conscious decision-making. You have to buy with your head, not your heart. And you have to think of the long-term consequences of how your decision will impact your future when you’re buying something.”
Throughout the activity, students were encouraged to use a debit card register to track their expenses. They were provided with a check, which they wrote out to pay their mortgage or rent payment. They were required to make the monthly minimum payment on their credit card debt. And if they encountered any issues, they were able to visit the credit union, where they could get assistance with understanding and correcting their finances.
Thank you to Cooperative Federal Credit Union for bringing this great lesson in Financial Literacy to our Henninger students!