A simulation game method is disclosed for teaching basic personal financial skills and the application thereto of character, time management, responsibility, and accountability. A user completes instruments such as checks and time slips, and receives directly responsive financial statements, such as bank statements and credit card statements, as well as financial demands such as invoices and credit card statements that simulate both planned and unexpected expenses. A simulated game period, such as six weeks, can proceed at a compressed rate. The game can require incurring of debt, but allow for debt elimination through skillful financial management. Guidance and suggestions can be provided by a managing staff, and a game score can be based on demonstrated financial responsibility and / or quality of life achieved. The game can be played using paper statements prepared by a supervising staff, on a local computer, or on a remote computer accessed over the internet.