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Mad City Money™ Facilitator Guide How to best use the Facilitator Guide

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Simulation overview Program description Session objectives Target audience Prework Course length Recommended class size

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What are participants thinking?

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About simulations

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Tips for getting participants

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Role of the facilitator

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Materials and supplies needed

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Room setup

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Prework options

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How to select and train merchants

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Step-by-step procedures

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Questions participants ask

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After-program checklist

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© 2007 Credit Union National Association Inc.

How to best use the Facilitator Guide Before you get started, gather and print a copy of each of the components. Next, read the Facilitator Guide cover to cover, making notes for yourself. Review each of the participant, classroom, and merchant materials as they are mentioned. Revisit any sections of the Guide you’d like to review. Then, read all the marketing materials and you’re ready to get started.

Planning materials

❑ CU Checklist ❑ Sign-up Sheet ❑ System Requirements

Facilitator materials

❑ Facilitator Guide ❑ Merchant training invitation

Participant materials Students will complete prework about how to write a check and balance a check register prior to the course. See the options on page 8 of the Facilitator Guide. ❑ Checking Account Basics (prework option) ❑ About Me (30 different occupation sheets) ❑ My Budget Work Sheet ❑ My Spending & Savings Plan ❑ Evaluation form ❑ Certificate of Course Completion ❑ What I Earn! (take-home material) ❑ Guide to Money booklet (optional take-home material) ❑ How to Manage Your Checking Account statement stuffer (optional take-home material ❑ How to Buy a Used Car statement stuffer (optional take-home material)

Merchant materials

❑ Fickle Finger of Fate windfall cards ❑ Fickle Finger of Fate extra expense cards ❑ Fickle Finger of Fate directions ❑ Really Realty & Utilities directions ❑ Really Realty & Utilities options ❑ Gotta Eat! directions ❑ Gotta Eat! options ❑ My Closet directions ❑ My Closet options ❑ Kid Care directions ❑ Kid Care choices ❑ Fun Stuff directions ❑ Fun Stuff options ❑ Big Wheels New & Used directions ❑ Big Wheels New & Used choices ❑ Mad City Mall directions ❑ Mad City Mall options ❑ Home Stuff directions ❑ Home Stuff options ❑ Credit Union directions

Classroom materials

❑ Instructions for “Make Check Payable to” tent cards ❑ Merchant signs

Marketing materials ❑ Poster ❑ Newsletter copy

Have questions or need help? Contact: Lin Standke, CUDE, CCUFC Manager of Youth Programs Credit Union National Association 608-231-4049 [email protected] 2 © 2007 Credit Union National Association Inc.

Simulation overview You’re a high-school student who has just been transported into the future with your friends. Some of you have just graduated from college or technical school. Some of you are married. All of you already have kids. You’ve just started your first full-time, professional job. You’re earning money and have bills to pay. Now you have to select housing, transportation, food, household necessities, clothing, day care, and other wants and needs. Lots of choices to make. Oh, and you need to build a budget based on your income and debt. Welcome to Mad City Money™!

Program description Mad City Money is a 2.5 hour simulation for high-school students. Each participant receives an “about me” sheet that contains: an occupation and salary, student loan debt owed, credit card debt owed, and cost of medical insurance. Some participants will have a spouse, some will be single, and some will be single parents. Participants build a monthly budget based on their incomes. They visit nine merchants in Mad City to purchase housing, transportation, food, day care, and other needs. There’s a mall for wants and, of course, a credit union for financial services. The Fickle Finger of Fate randomly visits each participant during the simulation and distributes unexpected windfalls and unplanned expenses. Participants write checks for their purchases and must balance both their checkbooks and their budgets.

Session objectives Each participant will: • Practice budgeting as an adult with realistic circumstances. • Identify and experience the consequences of poor decisions. • Develop good judgment regarding spending and making a budget. • Understand that budgeting is a necessary step in good money management and that it isn’t difficult.

Target audience This program is aimed at teenagers ages 15 to 18.

Prework This session requires that participants receive information about writing checks and balancing a check register before the session. See page 8 for more information and prework options.

Course length 2.5 hours This time may vary slightly depending on the number of participants and the amount of time you spend during the debriefing discussion at the end of the program.

Recommended class size The ideal class size is 26. A range of 22 to 30 is workable. We do not recommend fewer than 22 participants.

3 © 2007 Credit Union National Association Inc.

What are participants thinking? The teenage mind and this program… What participants think about money, a budget, and their spending choices will change during the simulation. When it starts, they’ll spend money without worrying about the financial impact simply because they can. Later in the session, they will have to make choices based on their family situations and they’ll see the effect of spending on their budgets. By the end of the simulation, they will know how to budget within their incomes. For this learning to take place, they have to start by making mistakes. That’s why you should avoid “correcting” poor decisions during the session and wait to discuss them afterward. Learning occurs when participants change how they think during the simulation. This diagram describes typical thoughts participants will have at various points throughout the simulation as they experience and complete the activities.

After your brief introduction: • “This might be fun and interesting.” • “Hmm. Not a typical classroom lecture.” • “I’m going to have to participate and take some risks.”

After they have selected their occupations: • “I’m making big money now ... let’s go shopping!” • “Two incomes! I’m gonna get a big house.” • “Where do I buy a brand new truck?”

About 15 minutes into the session: • “Wow, adults have a lot of responsibilities.” • “Life is expensive!” • “These are some hard choices.”

About an hour into the session:

After the debrief: • “Making a budget isn’t so hard.” • “My commitment to spend less than I earn is going to make the difference.” • “The credit union can give me help if I need it.” • “I’m going to pay attention to my financial future and keep learning how to manage my money.”

• “Now I know why my parents don’t buy me everything I want.” • “I can’t afford a big house and a new truck and still feed my family.” • “Life happens and I need to be prepared for emergencies.”

4 © 2007 Credit Union National Association Inc.

About simulations The Mad City Money simulation uses no lectures or PowerPoint® slides. It requires teenagers to integrate their knowledge of money, math skills, attitudes about choices, and money values. During the program, participants make decisions with immediate repercussions that might not occur for years in real life. They have the opportunity to modify their decisions and actions and see the impact of changes right away. They have chances to experiment and make mistakes—and suffer the consequences of their decisions—in a realistic, but safe, environment. Simulations are a good way for learners to practice real life by taking on responsible roles, finding ways to succeed, and developing problem-solving tools. Simulations make students hands-on participants, not just listeners or observers. Simulations motivate participants because their involvement in the activity is so personal that it leads them to want to learn more about the simulated subject matter. Face it—most adults would consider the topic of budgeting to be a “yawner.” Books and classroom lectures on the subject likely would put most teenagers to sleep. But a budgeting simulation elicits higher levels of interest, motivation, and engagement. This activity can produce higher quality problem solving in participants than traditional classroom methods do. What’s more, simulations encourage persistence, creativity, problem solution, and cooperative teamwork.

Let the participants fail. Really. Let them make mistakes. If you’re used to a traditional teaching experience, you may need to remind yourself not to step in and help participants “fix” their budgeting problems. In this program, we want participants to overspend and end up with purchases they can’t afford. That’s the power of this experience. Participants will realize, “Oh, I guess I can’t have a big house and a new truck on my salary and still pay for day care and groceries.” Sure, you could tell them what choices to make, but that’s not the best way for them to learn. They need to see for themselves what works and what doesn’t. That’s why erasers and calculators are on the supplies list for this program. During the simulation, participants will learn the consequences of their decisions and share their thoughts and actions with their peers.

Tips for getting participants Mad City Money works best with 22-30 teenage participants. With smaller numbers, the chances for interaction and sharing are greatly reduced and the excitement and energy level in the room drops significantly. Follow these tips to reach the required attendance: • Offer to conduct the simulation at your local high school. • Partner with local community groups such as scouting or teen clubs. • Invite youth groups from faith-based organizations. • Ask your SEG if they conduct activities for teenage children of employees, or would like to. • Contact your local Cooperative Extension office and ask if a local 4-H club would be interested. • Volunteer to conduct the program at an event such as a statewide Money Week. • Offer as part of a half day (or longer) financial boot camp. • Offer as a Spring break activity at your local community center. • Offer to after-school clubs.

5 © 2007 Credit Union National Association Inc.

If you offer Mad City Money as an individual sign-up event at your credit union, there are several ways to entice teenagers to attend: • Offer pizza and free giveaways. • Require the program as education that must be completed before a teenager can qualify for services. • Promote a drawing for a hot item in your community. For example, offer attendees a chance to win tickets to a concert or sporting event, a $50 gift card at the mall, or a season pass to the pool. • If members attend and bring a friend, deposit $20 in their savings accounts. • Where do teenagers gather in your community? Place posters in those locations to publicize the event.

Role of the facilitator The facilitator’s job in Mad City Money isn’t like that of a typical classroom presenter. In this simulation you provide brief greetings and instructions and then become an observer while participants manage their budgets. During the session you’re available to answer questions and assist merchants as needed. You are visible, but generally silent except to offer time remaining reminders. You’ll roam among tables, listen to conversations, and make notes for the debriefing. Your main focus is the debriefing, when participants will share their experiences—good and bad—and you will make comments and give advice. Your job is to facilitate a positive debrief.

Skills required: • Ability to present directions that participants can quickly and easily understand. • Ability to effectively observe, listen, empathize, question, conclude, and describe. • Knowledge of the techniques and methods used in working with teenagers. • Ability to observe and describe behaviors and their effects. • Ability to think logically and creatively without being unduly influenced by personal biases.

Preparing yourself • Once you’ve printed all the materials, read through the entire Facilitator’s Guide. • Make notes for yourself that will help you organize and deliver the program. • Practice your introduction in front of a mirror, or with peers who can give you feedback. • Use the checklists provided [CU Checklist.pdf] to build a schedule for ordering supplies, obtaining merchants, and copying participant materials.

Materials and supplies needed Merchants • 10 tables (Set up around perimeter of room. 1 table will be used by the facilitator for registration and distribution of About Me sheets.) Or, use 5 tables with 2 merchants at each table. • 1-2 chairs at each table • Print tent cards for each merchant (“Make payable to [NAME OF MERCHANT]”)—template provided • Sign for each merchant (to be taped to wall)—template provided • 2-3 pens for each merchant • Calculator for each merchant • Copy of My Spending & Savings Plan and My Budget Work Sheet for each merchant—provided • Merchant option sheets—provided (Suggestion: place in plastic sleeve) • 1 envelope for each merchant to hold checks • 2 envelopes for Fickle Finger of Fate cards 6 © 2007 Credit Union National Association Inc.

Students • 4-6 tables (clustered in middle of room) • 6-8 chairs at each table • Pens and pencils in middle of each table • 1 calculator for every student (place in center of student tables) • 1 clipboard or folder for each student • 1 checkbook and register for each student • Distribute the following handouts during the simulation (see step-by-step procedures): • About Me (occupation) • My Budget Work Sheet • My Spending & Saving Plan • Certificate of Course Completion • What I Earn! • Evaluation form • Optional take-home materials (see page 16)

Registration • Table near door or outside the room for registration and handouts • Name tags (1 for each student and 1 for each merchant)

Supplies • Boom box or sound system with extension cord or new batteries • Music (select CDs popular with teenagers in your area) • 3-4 roles of tape or boxes of pins for posting visuals for Mad City merchants • Newspapers, magazines, and props for each merchant • 5-9 pairs of scissors TIP: Shop your local “dollar store” for inexpensive calculators. Collect them after the event for future sessions.

Copy materials We encourage you to reproduce the Mad City Money materials in color, especially the merchant options. In case you do not have access to color copying, black and white (B/W) options are also included.

Room setup Merchant table Facilitator table Participant table

If space is limited, combine merchants and seat 2 per table. 7 © 2007 Credit Union National Association Inc.

Mad City is a mythical town in the future. It’s where participants will live, work, and shop. Merchants are seated at tables around the perimeter of the room. Newspaper and magazine photos of typical items sold at their establishments are taped on the wall behind the tables. A sign identifying each merchant is also taped to the wall. Merchants can use space on their tables to add visual excitement and humor. For example, place miniature cars at Big Wheels, diapers and toys at Kid Care, and boxes of food and plastic fruit at Gotta Eat! Participants “live and work” at the tables in the center of the room. If possible, cluster groups of tables that seat 4-6 people. Place calculators, pens, and pencils in the center of each table.

Prework options Mad City Money requires participants to have a basic understanding of how to write a check and balance a checkbook. At least 1-2 weeks before the simulation, provide them with one or more of these options:

If you are a subscriber to one of these CUNA products: • Guides to Independence Ask participants to complete 301: How to Start a Checking Account, and 302: How to Balance a Checking Account, before coming to class. (They may be eligible for a free music download as further incentive; ask them to print the certificate of completion, bring it to class, and receive a new $5 bill or credit union giveaway.)

Or… • Googolplex Ask participants to read the following 3 stories prior to class. Provide them with links, or print and mail the stories. 8 © 2007 Credit Union National Association Inc.

Balancing your Checkbook Part 1 and 2 http://googolplex.cuna.org/32647/cnote/story.html?doc_id=261 Reconcile Your Checkbook: A Calculator http://googolplex.cuna.org/32647/cnote/story.html?doc_id=716 Checking into Checking Accounts http://googolplex.cuna.org/32647/cnote/story.html?doc_id=225

If you do not subscribe to Guides or Googolplex, use the prework option [Checking Account Basics.pdf] in the “participant materials folder” on the Mad City Money disk. If students come to the session without completing prework, tell them to stop at the Credit Union for a quick lesson.

9 © 2007 Credit Union National Association Inc.

How to select and train merchants There are 9 merchants in Mad City, plus the Fickle Finger of Fate. Tables placed around the room represent their “shops”.

Merchant Name

Service

Really Realty & Utilities

Housing, phone/ISP/cable, utilities, insurance

Gotta Eat!

Groceries, dining out, coffee

Fun Stuff

Activities, entertainment, sports, hobbies, vacations

Kid Care

Formula, diapers, clothing, child care, presents/books/toys

Home Stuff

Furniture, decorative items, household needs

Big Wheels New & Used

Transportation, insurance, gas, repair, bus passes

My Closet

Clothing, personal care

[insert your name] Credit Union

Financial institution: make charitable contributions, pay credit card debt, save for goals

Mad City Mall

Cell phones, electronics, sports equipment, boats, motorcycles

Fickle Finger of Fate (roving, no table)

“Life happens” windfalls and unplanned expenses

1. Select merchants Merchants can be credit union staff, members, parents, or other volunteers from the community. Your board of directors is another good source of help. Merchants do not have to be experts in their occupations, but personal knowledge is helpful. For example, it’s not necessary to be a real estate agent to run Really Realty, but experience in buying a home will provide background material for the role. The most important quality is to stay in the role of a salesperson and avoid solving the students’ problems. Encourage your merchants to dress—and behave—according to their roles. TIP: If you use volunteers outside of the credit union, plan on having a “floater” credit union staffer ready to fill in for a merchant who cancels at the last minute.

2. Schedule a 45-minute training session for merchants Approximately one week before the Mad City Money simulation, send information about the training to each merchant. See sample letter [Merchant training invitation.doc] Include a copy of their individual instructions and options.

10 © 2007 Credit Union National Association Inc.

3. Training agenda • Welcome and introductions (5 minutes) Ask participants to introduce themselves and describe the role they will play in Mad City. • Review simulation overview, objectives (5 minutes) (See page 3 of the Facilitator Guide.) • Describe what will happen during the Mad City Money Simulation from both the participant’s and the merchant’s point of view • Describe room setup, including location of refreshments and restrooms • Review the materials each participant receives: Prework (Give each merchant a copy of Checking Account Basics.pdf) About Me (occupation sheets) Checkbooks My Budget Work Sheet My Spending & Savings Plan Any take-home materials and giveaways • Discuss overall role of merchants: Reinforce need to sell, not teach participants what to do Review merchant direction sheets Dress Props and decorations for tables Merchant signs Accepting (or rejecting) checks (provide merchants with check-writing instructions) Questions participants may ask (see page 17) • Briefly review specific role of each merchant and answer questions • Describe merchant role during debrief • Review Mad City Money details: Time, date, location Parking Whom to call in case of emergency

11 © 2007 Credit Union National Association Inc.

Step-by-step procedures Timing and details

Facilitator actions

1 hour before

Give last-minute instructions to merchants.

Merchants set up their tables and decorate walls.

Set up refreshments.

Start Set up participant tables. Participants arrive. They walk into the room and immediately know that this is no ordinary classroom experience.

Remember to fold and staple the About Me form so only the occupation is visible. Greet participants and direct them to tables in center of room.

• Start music.

Give each participant: • Name badge • My Budget Work Sheet • My Spending & Savings Plan • Checkbook

Ask participants to sit at tables.

Introduce yourself and welcome participants. SUGGESTED COMMENTS: “Before we get started there are a few housekeeping items to take care of.” [Point out refreshments, restrooms, and other necessities.] “Welcome to Mad City. In a moment you’ll have a new identity and will be shopping for needs like housing, food, and clothing. You’ll also get to buy fun stuff like a new car, cell phones, and trips. The merchants will introduce themselves to you when you stop at their establishments.” “In the future some of you are married and some of you have families. Some of you have debt. All of you will have an occupation with a monthly salary”.

Participants select an occupation without seeing their salary or debt (remember to fold and staple the About Me form so only the occupation is visible).

“What I’d like you to do is go to (point to table where ‘About Me’ sheets are laid out) and select an occupation. Do not open it until you are back at your seat.

GIVE PARTICIPANTS A COUPLE OF MINUTES.

12 © 2007 Credit Union National Association Inc.

Timing and details

Facilitator actions

Hold up My Budget Work Sheet.

“Does everyone have an occupation?” “Your goal in the future in Mad City is to make a monthly budget and purchase your needs. You’ll need to visit every merchant, but you can do so in any order.” “At each of the merchants’ tables, you’ll choose what you want to purchase and record the amount on My Budget Work Sheet.”

Hold up My Savings & Spending Plan.

“You may need to make several purchases. Add the items and enter the total on My Savings & Spending Plan.” “At the end of the session, you should have no more than $100 in your checking account. If you do, you must use it to pay off your debt or put it in savings.”

Hold up a checkbook.

“Every time you write a check, remember to record the transaction in your check register.” “I’ll keep track of time and keep you on task. If you have questions, ask the Credit Union or the merchants. You’ll have about 2 hours to complete your budget.” “Ready? It’s now the future. Welcome to Mad City.”

15 minutes after start Fickle Finger of Fate begins to distribute “life happens” cards.

90 minutes after start

Wander among merchant and participant tables. Listen for comments and situations that provide good and not-so-good examples of decision making for the debrief.

Remind participants that they have 30 minutes to complete their budgets.

13 © 2007 Credit Union National Association Inc.

Timing and details

Facilitator actions

180 minutes after start

“Welcome back to the present in [name your town]. Please take your seats and we’ll spend time debriefing.”

The debrief is the time to teach those money lessons you weren’t supposed to share during the simulation. Start by giving students a chance to discuss their experiences.

Ask general questions: • How did you like Mad City? • Did you like your occupation? Your family? • Were you able to live on your income? • Who ran out of money? (Ask for a show of hands; call on one or two people to explain why.) • Who saved money? (Ask for a show of hands; call on one or two people to share how they did it.) TIP: Let students tell you about their “future” experiences for several minutes before you provide answers and advice. This helps them process their experience and gives them an opportunity to share with each other how well they managed their money—or not. Move on to specific questions and answers. This is a good opportunity to provide short hints about what to do and what not to do, based on the information the participants share. • Who bought a brand new big truck or sports car as their first purchase? How did that work for you? How did you determine what kind of transportation to buy? • Did anyone buy a big house? Did that work for you? When you are first starting your career, what will you be able to afford? • What kind of furniture did you buy? Why did you choose it? • Who was unhappy with their salary? Did you want to make more money? How could you do that? • Who bought nice clothes for themselves and not-so-nice clothes for a spouse or child? Why did you do that? How important are clothes to the job you have? • What were your wants at the Mall? Could you afford them? • Were you able to set up a savings plan for your wants? • How expensive is food? How did you make your food choices? • What did you learn about the cost of raising children? • Who liked getting the visits from the Fickle Finger of Fate? Can you see any of these things happening to you? What’s the impact of unexpected income changes or expenses on your budget? • What can you do to make wiser choices?

14 © 2007 Credit Union National Association Inc.

Timing and details

Facilitator actions • Let’s talk about fun. How much does fun cost? How can you have fun without spending a lot of money? • What are one or two things you’ll go home and tell your parents or siblings about money? • How did you get so much credit-card debt? How many months will it take you to pay it off? Once you’ve paid it off, how can you best use the money you’d allocated for your debt? • How did it feel to have to make big decisions with little information? Where could you get help in the future? TIP: The debrief is the time to reinforce key learning points about check writing (relate to debit card tracking). Mention how your credit union can help and whom to contact. Another debrief option is to choose a couple of participants and review their work sheets and final budget with the entire group. This works best if you select someone who struggled and had to make tough choices, or someone who purchased an expensive car and big house first and then ended up without money to pay other bills. Choose another participant who made “good” choices and ask questions about how he or she made choices. Ask merchants for their input • “What kinds of challenges did your buyers have? How did they solve them?” • “How did participants react to the costs of the items you were selling? Did they buy the higher-priced items you suggested?” • “What did you hear participants say about budgeting? The cost of raising children? How did they treat their “imaginary” spouses?” Ask the Fickle Finger of Fate to share reactions he/she encountered when giving out “life happens” cards.

Distribute evaluation form.

1. Hand out evaluation form. Thank participants and ask them to complete the evaluation form. Tip: Trade handouts and giveaways for a completed evaluation form. If you give out handouts before the form, participants are often distracted and neglect to give you feedback.

15 © 2007 Credit Union National Association Inc.

Timing and details Distribute take-home materials and giveaways: • My Personal Budget • Guide to Money • How to Manage Your Checking Account • How to Buy a Used Car

Facilitator actions 2. Distribute take-home materials and giveaways. Provide each participant with a copy of What I Earn! [What I Earn.pdf] “Here’s a format for a budget that you can use to create your own spending plan. One page is for your income, the other for your expenses. You may want to share it—and the information you learned today—with your parents or siblings.” Give participants any items (customized with your logo) they can use to create their personal budgets at home. Examples include: calculators, pens/pencils, and portfolio files. Consider giving each participant a backpack or tote for storing their reading material and giveaways. Your initial purchase of Mad City Money includes enough materials for one or two simulations: • 50 free copies of the Guide to Money booklet • 100 free copies of How to Manage Your Checking Account statement stuffer • 100 free copies of How to Buy a Used Car statement stuffer To order additional copies, visit: • Guide to Money booklet http://buy.cuna.org/detail.php?sku=20769 • How to Manage Your Checking Account statement stuffer http://buy.cuna.org/detail.php?sku=20054 • How to Buy a Used Car statement stuffer http://buy.cuna.org/detail.php?sku=29335 To view additional product options, visit http://buy.cuna.org/static/financial_literacy.html.

3. Promote your Web site and youth materials. Give your credit union’s Web site URL to participants. Provide them with links to your youth products and services and any educational information you post online. If you publish a youth newsletter, include a copy with the giveaway materials. Provide a packet of resources for each participant to take home for future reference—and to share with friends and family. Include information that teens are interested in, like buying a car, as well as helpful details about planning for their financial future. 16 © 2007 Credit Union National Association Inc.

Questions participants ask Merchants will get many questions during the event. Don’t interrupt the program to answer them. Rather, be prepared to respond individually. Here are questions that likely will be asked: NOTE: Don’t solve the problem for the participant. For example, allow him or her to come to the realization that maybe the new vehicle isn’t a good choice right now and that a used car or the bus may be a better option. “I got the lawyer occupation card. My mom is an attorney and she makes a lot more money than this.” That’s great. But this is the future in Mad City. You’ve just graduated and are just starting your career. Don’t worry about how much you make. Concentrate on your budget. How will you manage the money you have? “My child doesn’t look anything like me.” Oh, but he’s so cute! This is Mad City. Don’t worry about what your child looks like. Concentrate on your budget. How will you manage your money so you can provide your child with food and clothing? “I don’t have any money left and I still need to buy …” Hmm. What could you do differently? How could you change your budget and still purchase everything you need? What could you spend less on? “Why can’t we use debit cards instead of checks?” In the future you may use plastic much more often than paper. But there are some things that may require a check. Paying a friend for your share of pizza when you don’t have cash is one example. Rent is another. What’s important is the tracking of expenses. Mad City Money demonstrates the importance of keeping track of your spending so that you don’t overdraw your account. It doesn’t matter if it’s for your debit card or a check for purposes of this program. “Isn’t it better to save for a big down payment on a house or a car?” Yes, that helps reduce the amount of interest you’ll pay over time. In Mad City, though, we’re focusing on budgeting and spending choices. The specifics of how to buy a house or a car will be taught another day. “Why can’t my husband/wife stay home so we don’t have to pay for day care?” That’s a good question for you to explore in the future. Will only one earner make enough money to pay your bills and help you save for future needs and wants? Today in Mad City, both you and your spouse are working and neither of you has the option of staying at home. “Why do I have to have a spouse? And kids? I’m not going to get married.”[if participant has a spouse] That may be a good plan for you in the future. Today in Mad City you get to experience what it’s like to budget based on two incomes. So, if you change your mind, you’ll have practice budgeting for a family. And you’ll be able to share your knowledge with friends who get engaged. “I’m planning to be married. We’ll have two incomes and can afford to buy more and better things.” [if participant is single] That’s a great plan. But today in Mad City you get to experience what it’s like to live on one income. You may not be married right away, so you’ll have practice budgeting for yourself. And, you’ll be able to share your knowledge with your future husband or wife. 17 © 2007 Credit Union National Association Inc.

After-program checklist ____ Process your evaluations. What worked well? What will you change for your next simulation?

____ Debrief with your boss and your department. Let them know the impact this program had on your young members. Describe the value of this program and demonstrate the benefits of the participants and your community.

____ Send thank-you notes to merchants, community groups, teachers, and any other volunteers who assisted you.

____ Tout your community efforts! Send appropriate press releases to local and national contacts.

____ Reorder supplies and materials needed for your next simulation.

____ Remember to report your presentation to the National Youth Involvement Board (NYIB) at nyib.org. This site tracks the number of students who receive financial literacy training from credit unions. CUNA and state credit union leagues use these statistics in lobbying and promoting the credit union difference.

____ Plan additional training sessions to continue participants’ learning. For example, how to buy a car, how to use a credit card, and how to save for college might be good topics for your young members.

18 © 2007 Credit Union National Association Inc.