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Personal Finance Simulation

Personal Finance Simulation 2016-12-23T12:55:23+00:00

Real Money Experience – Personal Finance Simulation

The NFEC’s Real Money Experience personal finance simulation coursework is a unique online learning experience that combines gamification with project-based learning. Participants build the skill sets they need to make personal financial decisions aligned with their personal goals through hands-on, realistic experiences.

Sadly, most online learning programs are games with limited educational value. The majority of financial games available today are trivia-based programs with pre-selected choices that limit the student’s decision-making.

The RMX Personal Finance Simulation is exactly the opposite. Here students make the real-world choices that align with their lifestyle goals. Developed through collaboration with Penn State Erie, The Behrend College, this program prepares today’s high school and college-age youth for the real world though an online gaming experience. During the course students complete over 40 decisions they are likely to face, including:

  • Research a place they would like to rent and review the terms of the rental agreement.
  • Research, compare, and make decisions about their car, renters, and other insurance options.
  • Conduct due diligence on financial institutions and decide which bank or credit union they wish to do business with.
  • Check their personal credit report and develop a credit building plan.
  • Conduct personal research to estimate their cell phone, day-to-day spending, groceries, and other expenses.
  • Create a detailed budget that covers the main expenses associated with living on their own.
  • Research potential careers, understand compensation, and make educational decisions.

When these youth decide to move out, they will be fully prepared and have a working budget in place. They understand the cost of living on their own and have a plan to earn an income that will support their short- and long-term lifestyle goals.

 

Instructor Option

The complete Real Money Experience Simulation program includes both instructor-led activities and an online experience. The program can be delivered as a standalone online experience; however, the best results are realized when instructor-led presentations are included.

Utilizing the fun classroom personal finance lesson plans prior to the online game experience gives students the background knowledge that can help them make better decisions. Receive the Real Money Experience Project-based Classroom Game and complete Curriculum Package which includes more than 80 lectures, activities, and games. It also comes with discussion questions that can be used through each of the 12 sections of the online course.

Those who choose to include classroom instruction are encouraged to complete the Certified Financial Education Instructor professional development class. This training helps maximize the impact of the course, making it more enjoyable for the educator and participants alike.

 

The RMX Personal Finance Simulator Package Includes

  • Site Simulator License
  • Instructors Guide
  • Student Guide
  • Core 12 Curriculum Package
  • Promotional Material

Investment of $597 + $15 per student.

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*Annual renewal starting year two is $597. The material may only be used by purchasing organization at one physical address. Read the complete terms and conditions.

The Real Money Experience Simulator is the closest thing to experiencing the financial real world. Students learn personal finance life lessons in a safe environment as they construct an actual plan that will serve as a guide when they move out on their own.

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