Every year FCS agent Jennifer Abel and the Master Financial Education Volunteers conduct several Kids Marketplace and Reality Store events to help teach children and teens about smart money management skills. In these hands-on simulations, students receive hypothetical family situations and a monthly income. They visit a series of stations (housing, transportation, entertainment, groceries, clothing, personal care, medical, etc.) and make decisions about how to spend their money. The goal of the exercise is for the participants to take care of the needs of their hypothetical families without running out of money while also putting some money into savings. Kids Marketplace is for elementary school students while Reality Store is for teens in middle and high school.
These events have been very popular this fall. In November, staff and volunteers led a Kids Marketplace for 71 students at Barrett Elementary School, a Reality Store for 347 eighth graders at Hammond Middle School, and a Reality Store for 25 teens from military families from around the country who assembled for a conference at the Crystal City Sheraton.
Participants learn a great deal at these events as evidenced by the evaluations that they complete. Many cite the importance of saving, gaining a greater understanding for what their parents have to deal with, and the importance of planning before having children as key lessons that they learn. Many more events will be held in 2013 so if you are interested in volunteering (requires no preparation work before the event) please contact Jennifer Abel: jabel@vt.edu.
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