The Reality of Money

At Phillips today, I participated in an event called "The Reality of Money," in which a bunch of parents, teachers, and others helped students work through real-lifeish decisions about spending. Each student was given a role (Nurse practitioner -- 2-year degree - one kid -- $30k income....) and then they had to go out and make smart decisions about spending. I was on the Help Desk, which is where kids came when they spent all their money. We would counsel them about making decisions -- scaling back spending, or maybe getting another job. The roles available to them varied by level of educational attainment.

Lots of kids ran out of money because they made stupid decisions, or just because they were legitimately stretched.

Graham ended up $500 in the black each month. He was the only kid I saw who saved money by living at home with his parents, and he selected the cheapest option available wherever possible.

Of course, it's quite possible that many other kids chose to live at home with their parents, and that's why they didn't end up at the Help Desk trying to figure out how to make it all work.

In the end, Graham came up to me and asked how much interest he could earn on his money.