Kris Boulton, Saline County extension staff chair for the University of Arkansas System Division of Agriculture, instructs students to select a checkbook and activity card assigning them an occupation and salary, number of children and tax deductions. As students navigate the personal finance simulation, they must make choices about their monthly expenses according to their assigned budget. (Rebekah Hall | Division of Agriculture photo)
BRYANT, Ark. — Balancing a checkbook is a critical life skill, one that young people can benefit from learning before they fly the nest. To help meet this need, the Cooperative Extension Service’s “Get Real, Here’s the Deal” personal finance simulation walks 8th-12th grade students through interactive stations where they navigate buying a house, opening a bank account, securing childcare, and more.
On March 27, juniors and seniors at Bryant High School gathered to participate in the simulation. Kris Boulton, Saline County extension staff chair for the University of Arkansas System Division of Agriculture, facilitated the program, saying it aims to help students make good financial choices.
“My goal when teaching ‘Get Real’ is for students to be better consumers and have the skills needed for wise money decisions,” Boulton said. “When they are participating in the simulation, it is great to see the spark in their eyes when they ‘get it’ or understand that they can make hard decisions about money and meet personal finance goals.”
Nicole Nichols, Saline County agriculture agent, and Katie West, Saline County 4-H agent, led stations and helped guide students through the exhibits. Amy Ricardo, who teaches economics, AP Microeconomics, and AP Macroeconomics at Bryant High School, also recruited volunteers from local banks and real estate agencies to assist with the simulation for her class.
At the start of the simulation, students received activity cards, which assigned them an occupation and salary, number of children, and tax deductions. They also received a checkbook and a starting balance, which they used to navigate 12 interactive stations, such as choosing a food plan, picking out a car, and signing up for insurance.
Boulton said one senior high school student told her, “This program helped me realize how serious and real life is about to get, and that I’ll be financially responsible for myself soon.”
Great fit for students and teachers
Ricardo said she first learned of the “Get Real” program at an Economics Arkansas conference and appreciated its interactive structure.
“I think it’s important for kids to learn personal finance, and I think they learn much more by doing it hands-on versus us just doing lessons in class,” Ricardo said. “I like that the program is realistic, and they’re in the driver’s seat of making decisions instead of us telling them what to do. It’s experiential learning, which I think is best.”
Ricardo, who manned the insurance station at the simulation, said “Do I have to have insurance?” was her most asked question.
“I like that renter’s insurance is included here because that’s something students are going to need in the next year — most of them will need to understand what renter’s insurance is and why they need it,” Ricardo said. “Most of them know about car insurance already because they drive, and most of these kids work, so they have some concept of the idea of budgeting.”
Ricardo said she also appreciates that “Get Real” involves the use of a physical checkbook, which helps students visualize their budget.
“I like that there’s an actual check register because most kids don’t write in a check register since they just have their online bank account,” she said. “It’s very abstract, but this gives them a visual of what’s actually happening in that bank account.”
Alicia Boatwright, Pulaski County extension family and consumer sciences agent for the Division of Agriculture said the “Get Real” program “gives students a real glimpse into adulthood and gets them thinking about their financial future.”
“Many people do not realize the importance of balancing a budget until well into adulthood by learning ‘the hard way,’” Boatwright said. “The students who participate in this program are on the verge of entering adulthood and the responsibilities that come with it. The earlier the students start developing good financial habits, the easier it will be once they have established their careers and families.”
Janet Cantrell, Sevier County extension family and consumer sciences agent for the Division of Agriculture said the program is all about exposing students to “real world” problems.
“Teaching students about money management is crucial for them to have a successful transition into the real world,” Cantrell said. “They have to be able to navigate the positive income of a good job, plus be able to survive the financial challenges the real world brings. Being aware of credit scores, debt and the experience of monthly expenses can help a student have a glimpse of adulthood in a safe environment.”
Bring “Get Real” to your classroom
Ricardo recommends the “Get Real” program to fellow teachers, in part because of how it involves local volunteers.
“I think it’s important for kids to see people other than teachers, so I like that it’s an opportunity to bring community members in and for them to have that experience,” Ricardo said. “I’m also all about them moving around and doing something active, so I like that it’s tactile. It’s a different extension of learning that is hard to get just with the regular classroom.”
Boatwright said that as a “Get Real” facilitator, she’s seen many students experience “ah-ha” moments.
“I enjoy seeing that light bulb come on, especially when they realize that there are expenses that they might not have thought to include in their budget, such as eating out, or the unexpected ones that they experience at the ‘It Could Happen station,” Boatwright said. “I am also reminded of the importance of budgeting for and tracking those small expenses while facilitating this program.”
Cantrell said her favorite part of leading students through the simulation is “when they go broke.”
“It gives them the chance to see what their parents go through and gives them a better understanding of why their parents say, ‘We can’t afford that,’” Cantrell said.
To learn more about “Get Real, Here’s the Deal,” visit the program’s page on the Cooperative Extension Service website. “Get Real” can be scheduled with the Division of Agriculture family and consumer sciences agent in your county. To find your county agents, visit uaex.uada.edu/counties/.