Real-World Lessons in Financial LiteracyStudents Participate in Money-Management Simulation with BMI Credit Union

Tuesday, February 25, 2025  

Students recently had the opportunity to experience a taste of the real world through an engaging and informative money-management simulation game led by BMI Credit Union. This hands-on activity offered valuable lessons in budgeting, financial decision-making, and preparing for the unexpected — all critical skills for future independence and success.

Building a Financial Foundation

The simulation kicked off by assigning each student an entry-level job, giving them a realistic starting salary to manage. Students created their personal profiles by naming their characters and rolling a die — a creative way to introduce elements of luck that impact financial circumstances, such as whether or not they would have a pet (and the additional costs that come with pet ownership).

Next, students faced important housing decisions: choosing whether to live with parents, rent with roommates, or rent alone. Each decision had significant budget implications, encouraging participants to weigh short-term comfort against long-term financial stability.

Navigating Real-World Choices

Students then visited a series of five themed stations: transportation, credit cards, hobbies, savings, and miscellaneous expenses. At each station, they were challenged to make choices reflective of real-world scenarios. For example, at the transportation station, students compared the costs and benefits of buying a bicycle, purchasing a car, or relying on public transportation to commute to work.

After making their decisions, students paused to review their budgets and calculate how much money remained after accounting for their living and lifestyle choices.

Preparing for Life’s Unexpected Twists

Just like in real life, surprises awaited. Students encountered five additional random event stations, where spinning wheels and pachinko games simulated unpredictable life events — some that added expenses and others that provided unexpected financial boosts. Through these activities, students learned the importance of maintaining emergency savings and budgeting for the unknown.

Success, Reflection, and Next Steps

Remarkably, every participant managed to maintain a positive balance, even after navigating life’s financial twists and turns.Following the simulation, representatives from BMI Credit Union led a discussion on real-world financial strategies, offering tips on stretching income, saving for the future, and managing credit responsibly.

Additionally, students were encouraged to apply for one of BMI’s five $2,500 scholarships available to seniors pursuing postsecondary education — an exciting opportunity to support their future academic and financial goals.

We extend our sincere thanks to BMI Credit Union for facilitating this impactful and fun learning experience. The skills and insights gained by our students will serve them well as they continue building strong, empowered futures!