I believe the Budget Challenge Personal Finance Simulation is the nation’s leading online financial simulation geared toward students to teach financial literacy in schools. The company seeks to change personal finance education from merely teaching concepts to applying them in realistic scenarios and practicing positive behaviors that reinforce sound money management.
They have been conducting simulations in classrooms since the 2007-2008 school year, when I was an original pilot. I am a big believer in the simulation. I feel it is the perfect tool for personal finance teachers to use to help bridge personal finance content with personal finance behavior. The three simulation advantages that are most important to my students are:
- The simulation occurs outside of school hours, mirroring what it is like in real life to pay bills and make tough choices in their "down time".
- The simulation rewards "gritty" and "persistent" students who are responsible enough to stay on top of their bills and budget, students whose positive financial behavior may not always be reflective in a traditional test.
- The simulation ignites student prompted questions sometimes not covered in the curriculum.
Here is a video of the simulation in action.