Mad City Money

• 

  Mad City Money Video

  Show Transcript

  Student 1: I think I’m in debt. Teacher 1: Mad City Money is a great program where they (GLCU) come in and do everything for you. You don’t have to set it up, you just have to arrange for the time and place. They (GLCU) come, they give all the paperwork, all the prices, all the people. It give the students a chance to see how much real life actually costs. They’re just used to paying for their own food and clothes sometimes, but they don’t really realize how much it costs for cars…to live. Student 2: I don’t really think about it. I never think about how much my clothes cost or how much food costs. It doesn’t really dawn on me, but it’s actually so much money for a mortgage and rent and everything. I didn’t realize it. Teacher 2: It’s a real world simulation. We give them a budget. They have to purchase certain items like renting an apartment, buying a car – used car, getting insurance, buying food. It’s great. We use Mad City Money to just introduce them to that scenario. Student 3: I’m a Police Officer, I’m not married, I have one son named Jack, he’s three years old, and I make about $2,000 a month. Student 4: I have a wife. I have a baby. I love him to death. He’s eight months. Teacher 3: I think the kids really don’t understand what’s required out there or things to consider when they’re actually making those purchases. I think Mad City Money gives them a real world perspective. Student 4: Everything is expensive! My baby – I have to buy so much! Student 3: Basically, I overspent by over $1,000. Volunteer: You over spent by a $1,000? Student 3: I didn’t realize it, but adding onto my total debt, which was already $700, now I’m $2,000 in debt. Volunteer: You got any money left over? Student 4: Muy poquito. Very little. Volunteer: So are you ready to be an adult now? Student 1: No, this is scary. Student 5: It gives you an example of the real world and how tough it can be. Student 6: At least I didn’t have student loan debt. Student 5: Well at least I had more monthly income than you. Volunteer: Are you guys ready to be adults yet? Student 6: No! Teacher 1: I would recommend Mad City Money to any teacher that teaches financial literacy. It’s really important for the students to be able to go out on their own and understand how much everything costs and how to manage their money.

Mad City Money (MCM) is an interactive budgeting simulation directed towards high school students. Students  take on a “new life” including a career, children and debt! They are challenged to purchase a house, clothes, transportation, home goods, and so much more.

Through this experience, we want the students to feel what it is like in the real world, even if it is just for a couple of hours! It is our hope that by the end of this event, students will walk away with a little more life experience. With your help, we can better prepare them for success! 

Here’s what students, teachers, and volunteers are saying about their MCM experience.

If you are interested in volunteering for MCM or would like information about bringing MCM to your high school, please send a message to Nicholas at glcu dot org.