Real Money. Real World.
Why Is Financial Literacy Important?
Today's youth face financial challenges, from finding student loans to fund their education to avoiding predatory credit card offers that could potentially set them back financially for decades to come, delaying their ability to buy a home or pursue the career they love. Real Money. Real World. has shown that, with awareness, knowledge, and skills, young people can be set up for success at an early age.
Real Money. Real World. (RMRW) is a youth-focused financial literacy program presented by North Carolina Cooperative Extension. The program teaches students how to manage finances using real-world simulations. RMRW includes four lessons on career choices, paycheck deductions, savings and spending, and a real-world simulation kit. RMRW reinforces many concepts and skills identified in the North Carolina Standards of Economics and Personal Finances.
During the experience, students will
- Recognize how education level and career choices influence income and financial security.
- Use money management tools that teach how to prioritize daily spending, accumulate savings, save for retirement, and avoid a low credit score, which costs more money.
- Practice skills that demonstrate how lifestyle choices affect the amount of money available for discretionary spending.
Target Audience
The program is designed for youth ages 12-18, but it tends to benefit high school students more because they are on their own much sooner. The program can be implemented in local schools, summer camps, early college programs and community centers.What to Expect
- Students complete four lessons in the classroom.
- Students practice what they learn during the simulation; each student assumes the role of a 27-year-old adult breadwinner for a family.
- Students assess their choices and experiences after the sessions.
What's needed to conduct RMRW
- A large room, such as a gymnasium or a large cafeteria, that accommodates 150 to 200 students.
- Volunteers to operate the 14 simulation stations.
