SACRAMENTO, Calif. (1/15/13)--The Credit Union National Association's Mad City Money program, a personal finance money management exercise for high school students, is part of a new trend in financial education--role playing, say experts interviewed in the Sacramento Bee (Jan. 13).
"It's a safe environment to make mistakes," Shannon Heaps, SAFE CU's financial literacy coordinator, told the Bee. "If they buy a big, new car, they might not be able to buy (designer clothes)."
Heaps said that students will not learn from someone lecturing them with the save-your-money message. "This is hands on and it lets (teens) learn from their mistakes."
The event was coordinated by the school's business academy, which includes three student-run businesses: a campus store, a recycling center and a SAFE CU branch.
"Events like Mad City Money, created by CUNA, are designed to help students learn those hard lessons before they leave home," said the publication.
California JumpStart Coalition Chair Karen Anderson told the publication that there is a proliferation of role playing games to engage teens. "It's part of a change in financial education," she said.
Jim Allen, SAFE vice president of community banking, also noted that money management education is needed by adults as well as high school students.
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