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Mad City Money Program at Asheville High School

Picture this: 250 High School Freshmen charged with the task of navigating the financial world.  They assumed  fictional identities, with estimated incomes and monthly household bills;  their only tools  a  check register, and a calculator. Their challenge? To  visit different “merchants” with one goal in mind –to develop a balanced budget for their family and end the event with a little left-over. That is the essence of Mad City Money.   

Because in real life unexpected  things happen to impact finances, Mad City Money includes  the “Fickle Finger of Fate” that could, with one touch, cause their car to break down or grant them a bonus at work.  Students have less than 2 hours to balance their budgets, plan for emergencies, and prioritize purchases to gain an early perspective on life’s financial realities.

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On Tuesday, November 3, 2008, the Asheville High Freshman Experience participated in the Mad City Money Simulation, facilitated by OnTrack Financial Education & Counseling in collaboration with Asheville High Business Alliance, Asheville City Schools, and sponsored by Southern Community Bank.

Over 60 representatives from local businesses, nonprofits, and colleges volunteered to act as the merchants, tempting students with great deals on cars, bargains at the mall, and necessary purchases at the grocery.  Students calculate, recalculate, track their purchases, and negotiate with merchants on a journey to make ends meet by the end of the lesson. 

“During the program, students experience budgeting, decision making, and the opportunity to make wise – or unwise - financial choices,” said Brad Blackburn, City Executive for Southern Community Bank.   “We were excited to sponsor this innovative program, because it helps students experience the full range of financial decision, empowering them to own their choices and realize that it is possible to have control of their financial lives.”

 “Mad City Money is a fun, interactive program that educates high school students on real-life financial management skills,” commented Celeste Collins, OnTrack’s Executive Director.  “The concepts of personal financial management really hit home when students realize that overspending at the mall can cause a deficit of funds to pay for food or rent.”

“One of the greatest insights I witnessed leading the program was when a student explained that he better understood why his parents couldn't purchase everything he wanted – because they still had to plan for the future and make sure that there was food on the table,”  commented Hart Dahlhauser, OnTrack’s Youth Financial Literacy Coordinator.  “It’s great to hear students say, ‘Wow! I didn’t realize kids were so expensive,’ or, ‘Maybe I should be careful about getting a credit card.’  That’s the program really working!”

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