Indian Lake High School’s College and Career Readiness students recently got a valuable look at the costs of living in the real world playing “The Game of Life.”
Honda Federal Credit Union teamed up with the Midwest Regional Educational Service Center and the Logan County Chamber of Commerce to bring this expense-planning exercise to area high school students. Indian Lake juniors were the first to take part locally.
Honda Federal Credit Union Business Development Manager Cindy Haavisto patterned “The Game of Life” after a program taught near the Indiana Honda facility.
Before the event, CCR students researched careers, selected a job, and chose their family situation. During “The Game of Life,” they got a monthly pay stub with their earnings after taxes. Then students walked around the cafeteria to about 20 local business and organization representatives where residents typically spend their money. Students were required to pay for housing, transportation, and insurance, but could make other spending decisions based on their income. They had to consider groceries, utilities, child care, pet care, recreation, student loans, charitable giving, and many other types of possible costs.
Students were also required to draw a card from SRO Miller with an unexpected life event, like a speeding ticket, that might cost them more money. After they visited each station, the students took their budget sheets to Honda Federal Credit Union employees to get advice and recommendations on their spending.
Junior Matthew Culp played the game as an aircraft mechanic making $5,567 per month with a spouse and one child. Culp made ends meet, but just barely.
ILHS College and Career Readiness educator Mr. Alex Jacobs plans to take this concept and continue it in the classroom over the next few weeks while teaching more about financial literacy.
Honda Federal Credit Union also presented a Car Buying Experience workshop to help students understand their credit and be knowledgeable about what could be the first major purchase of their early adult life.
Students from other schools around Logan County will be taking part in the Game of Life and the Car Buying Experience over the next few weeks.
