FAIRMONT — The Mad City Money program teaches students the value of money so they can be prepared for the future.

The Marion County Chamber of Commerce and Fairmont Federal Credit Union have partnered to offer Mad City Money.

This was the second year for the program, which is designed for freshmen in the county’s three high schools. This year, the chamber and the credit union operated two sessions at each school, with their last stop at North Marion on Dec. 18. Approximately 25 students participated in each three-hour session.

“It’s a simulated program that just truly gives them a dose of reality,” Maggie Toothman, program director of the Chamber of Commerce, said. “It’s a phenomenal program.”

Toothman is in charge of the chamber end of the program, and Stacey Harvey and Stacey Niessner from Fairmont Federal Credit Union work together to facilitate Mad City Money at the schools.

“What it is designed to do is give teenagers a hands-on experience on planning a budget,” Harvey, assistant vice president of sales and market development, said. “They’re actually taken into the future, which is Mad City Money.”

During the budgeting simulation, the students are given a choice of different occupations and receive a profile sheet, which tells them about their income, families, student loan debt and credit card debt. She said the children have a fun time and are serious as they assume their new roles.

After the organizers debrief and encourage the students, the kids start “shopping” and building their virtual monthly budget, Harvey said. They learn how to write a check and about creating a budget and planning for expenses.

“There are a lot of different sections to the program for them to learn from,” she said.

Toothman said volunteers from the business community take on the role of merchants and try to push the students to buy beyond their means. The students go around to nine different merchants to “purchase” housing, clothing, food, furniture, entertainment and other items.

“The merchants are actually instructed to be high-pressure salesmen,” Harvey said. “They want them to stop and think and make that choice. We explain that sometimes they may encounter that (in real life).”

As part of the session, students receive cards from the “fickle finger of fate” that have to do with life happenings. They either gain additional funds or incur unexpected expenses, and they must work these changes into their budget, Harvey said.

Toothman said the “fickle finger of fate” provides a dose of reality by allowing students to experience the little mishaps of life, like their vehicle getting a flat tire or their house catching on fire.

If the kids don’t write their checks correctly, the merchants can deny their purchases, she said. The students learn about checking accounts, balancing their checkbook, and keeping their register up-to-date. They must keep track of the money that goes in and out of their account.

At the end of Mad City Money, students learn about the mistakes they made and get an overview of the entire program, Toothman said.

“It’s a great opportunity in teaching them the importance of budgeting and spending wisely, but it’s also a eye-opener for what their parents do for them daily,” she said.

Toothman said college students can easily get caught up in credit card debt, and it’s essential to teach children early on how to budget and spend within their means. Mad City Money is a way to reach out to young adults about the importance of a dollar and implementing a monthly budget.

“It’s absolutely a great learning environment,” she said. “It’s fun. It’s educational.”

Harvey said the program is hands-on and requires the teenagers to use their knowledge of money and math skills.

The students make decisions with very little information, and there are immediate repercussions as a result. They learn the value of thinking before making choices. The program encourages the students to do research and avoid making decisions on a whim, she said.

“It’s such an important thing for them to learn, especially in today’s economy,” Harvey said. “When you get to college, you’re hit with all those credit card applications and you really need to understand them and how it works. We don’t want them to start out in debt.”

Only one session was offered at each school last year, which was the pilot year for the program. But because of the program’s success, Mad City Money was expanded this year to include two sessions per school.

Harvey said plans are under way to offer the program in other counties — like Monongalia, Harrison and Taylor — in the future.

“So many students now, they have jobs early on,” she said. “They already have a savings account or a checking account. If you (teach) them younger, it makes it so much easier for them as they get older.”

E-mail Jessica Legge at jlegge@timeswv.com.