Some of our upperclassmen took a "trip to the future" this morning and got to experience what life could be like through the Reality Check Simulation at the LCC!
Students received a paycheck or cash based on their chosen career. Some went to college and others were able to start budgeting right away. Some students were also assigned babies, which came with added expenses like childcare.
They experienced real-life scenarios and learned the importance of life skills such as budgeting, paying a mortgage, making car payments, acquiring childcare, grocery shopping, buying clothing, paying student loans and balancing a checkbook, all while managing life’s unexpected windfalls and expenses.
The object of the simulation was to stay within budget, not have negative money and ideally have $100 in their “savings account.” Expenses included mortgage/rent, utilities, cell phone and internet, childcare, car payments, groceries, recreation and entertainment, clothing, furniture, and student loans. Students went to the “bank” to cash their paycheck and put money in savings, all while balancing a checkbook.
There was also a “karma” element where students were randomly given an envelope that contained “good karma” (your uncle died, here’s an inheritance) or “bad karma” (your car broke down and now you have to pay to fix it).
This exercise gave students a real-life lesson in budgeting and how much things cost, as well as how much a random emergency (or windfall) can have an effect.
A huge thank you to all the volunteers who made this eye-opening experience possible for our future leaders!