Reality Store Budgeting

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Recommended: Income and wealth inequality sociology

On Friday, March 11, 2016, 8th grade students from South Gibson School Corporation participated in Realityapolis, or The Reality Store. This program was created by Old National Bank, and is put on in conjunction with the Girl Scouts of America. The program is hands on and interactive. Participants in the program are randomly assigned jobs, income, marital status, and family size. The students then then went from booth to booth, to buy necessities, slowly chipping away at their incomes. In doing this, the program teaches students the importance of budgeting in the “real world.” The very first step of this program, after getting your job, is taking the taxes and saving out of your monthly income. This gives the students a more limited budget and …show more content…

There were three different meal plans to choose from, depending on what you could afford. These packages varied from basics to luxury foods. The prices depended on your marital status and your number of dependents. You were given a flat rate that increased with each additional person. If you were given an infant, there were also additional fees such as formula and diapers. Next, the students could use their leftover money at booths that sold things, such as cable, phone service and plans, clothing, haircuts, and basic household supplies. The clothing budgets ranged from Goodwill to high end, and the cable included diverse packages. Also, students had the opportunity to draw from the fate bowl, which had cards from winning the lottery to having to buy a new appliance. The cards could either help you tremendously, or hurt your budget, just like real life. Some students unfortunately were dealt low-income jobs, and some didn’t spend their money very wisely. Luckily, they had a booth to help these students. This booth was called S.O.S., and the workers there helped the students better plan their budget. It also offered programs, such as WIC and food stamps, to improve their living conditions. If it became necessary, the participants could even break open their savings and take a chunk of that

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