WHS students step Into financial reality

In the classic board game “The Game of Life,” players simulate a life journey from college or early career to retirement, aiming to accumulate the most wealth and happiness, while making choices on career, marriage, and family, with mandatory spaces for major milestones. The player with the most accumulated money and assets at the end of the game wins.

The juniors and seniors at Wasilla High School recently experienced a live action version of the game as part of the ‘Get Real Financial Reality Fair’, an event set up with the Matanuska Valley Federal Credit Union (MVFCU).

It begins simply enough: fresh out of high school, college, or vocational training, students select their first job—only to receive a harsh lesson when they see their starting budget reflects the entry level pay, which is often less than what they may have been expecting.

Students are then given a random budget sheet that outlines their specific situation—such as being married, having a working or stay-at-home spouse, and supporting children, adding an extra layer to the scenarios.

Next, students navigate ten stations, selecting options for home, entertainment, insurance, and vehicles to simulate real-world financial choices that we all have to make.

“We work with students in schools in a brief, interactive ‘Game of Life’ opportunity to make decisions,” explained Brian Headdings, Board Director for the MVFCU.

The 'Wheel of Reality' introduced students to life's unpredictability. When a student spun a surprise event, they could expect outcomes ranging from receiving a cash bonus to having a baby—the latter of which was celebrated by ringing a bell that echoed throughout the room. “Everything else they choose, but this is a random life event, which happens in real life.”

After the students completed all ten stations, they then met with a financial advisor to discuss the outcomes of their budgets. “We go over it with them and ask, is this a real life, and how well did you do with the budget? It’s pretty cool,” said Headdings.

While the students only experienced a two-hour simulation, for some. “I love it,” said WHS senior Jenessa Ronkin, who selected a career as a daycare teacher, and was assigned a loan officer husband along with two young children with a third on the way. “This is helping me learn to budget,” she said, adding that it has been good for her to see the impact of financial decisions she had not though about yet.

One lesson that comes after the students have finished working through the workshop is the value of ‘no,’ with Headdings saying: “I tell them they have to go to every table, I don’t tell them they have to do something. I tell them ‘no’ is an acceptable answer, and that’s something they’re going to have to learn. There’s going to be a lot of people that try to sell you things that you don’t need, or even want. You have to be able to say no.”

Headdings says fairs and workshops like these do have an impact, relating that he heard that students who participated earlier in the week were still talking about it, and comparing the scenarios and outcomes. “If I can help you make one good decision after you leave, it’s worth it.” He said they also host these workshops for community groups, with adults wishing there had been something like this when they were younger to help them think through their own spending decisions.

“Our goal is to get this into every school in the Valley,” says Headdings, who has been doing this type of workshop with high school students and students over at Mat-Su College for eight years, as well as taking it as far as Ketchikan, Utqiagvik, and Bethel.

Headdings hopes students learn from this experience that it’s never too early to build solid financial habits, ensuring they are prepared for life after high school. “There’s a lot of learning that’s going on at the tables, but also a lot of peer-to-peer learning as well, a lot of talk that hopefully continues after the bell rings.”

“I’m sure it’s leading to conversations,” concurred WHS Principal Jason Marvel.