Financial simulations for young adults: Making the "real world" real

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Abstract

Simulations are a useful tool for teaching personal finance concepts. Keys to a successful simulation experience are easy to replicate materials, realistic scenarios, clear instructions for participants, and a thorough debriefing where students discuss their experiences and what they learned. Simulations provide an opportunity for students to appreciate the economic impact of a post-secondary education and to practice financial management skills such as check writing and budgeting. In addition, they are interactive, which makes learning fun. This article provides Extension educators with brief summaries of a "toolkit" of 11 simulation products that teach personal finance concepts to young adults.

Original languageEnglish (US)
Article number6TOT4
JournalJournal of Extension
Volume46
Issue number6
StatePublished - Dec 1 2008

All Science Journal Classification (ASJC) codes

  • Education

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