Hello Extension and Community Friends,
The “Reality Store” is a real world money management simulation activity designed specifically by the Virginia Cooperative Extension for teens. In this 1– 1½ hour simulation activity, teens fast forward to age 26 and are introduced to concepts such as making wise financial decisions, considering costs and benefits, using mathematical applications in real life situations, balancing a budget and a bank account, exploring career choices and education, and understanding how lifestyle decisions affect an individual's finances. The purpose of this activity is to help teens become more aware of the financial demands they will encounter in the "real" world.
On the day of the simulation, teens are assigned an occupation and family situation. All assignments are random; some students will be assigned a career or family situation that is not their first (or even 2nd) choice. This is reality as life does not always turn out as planned. In addition to occupation and family situations, students will receive an account register with their monthly salary. They must first visit “Uncle Sam” to pay their taxes then to the Bank set up a Savings Account. In the remaining time, their task is to visit each station in the room and decide how they will spend their income. Seventeen (17) stations represent typical spending categories in a typical household budget, such as housing, transportation, child care, food, entertainment, etc.
Some students will quickly spend their income on wants, only to realize there is not enough left for food or housing. At this point, they have a few options. They may revisit the stations and attempt negotiating to resell their purchases for a reduced rate or they may visit the employment booth and take on a second job.
This Extension program is highly dependent upon community volunteers who are interested in helping teens gain a greater understanding of the world of personal finance and decision making. Part of our commitment to this program is the recruitment and training of the volunteers. To be successful the program is reliant on 40+ volunteers for program success. Our goal is to offer two concurrent sessions, meaning we need 80+ volunteers to make this program a go and an educational and meaningful financial experience for our local youth.
We are now hopeful you want to invest your time to help make a positive impact for the youth of our communities. Please help spread the word and forward on to others.
Please click on the link, 2019 Reality Store at NRCC, March 12, to register as a Reality Store Volunteer, before Tuesday, February 12, 2019.
Volunteers will be assigned as registrations received.
Sincerely,
Chris Lichty, Senior 4-H Extension Agent, Pulaski
Michelle Dickerson, Senior 4-H Extension Agent, Montgomery
Sarah Pratt, Associate 4-H Extension Agent, Giles
Tyler Painter, 4-H Extension Agent, Floyd
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