Shelton High students experience financial reality
STRATFORD, CT (November 21, 2016) — For most adults, the reality of managing expenses can be a challenge. For high school students, this “reality” is not far away, and many have yet to experience what it will be like. Sikorsky Credit Union works to help high school students get a preview of what they will face in the future by sponsoring Financial Reality Fairs. Earlier this month, students at Shelton High School had a chance to preview what their reality may eventually look like.
The Financial Reality Fair gives students the opportunity to experience “real-life” finances based on their chosen profession. During the Reality Fair, students visit expense tables to spend their “hard earned money” on real-life choices, such as housing, transportation, food, and utilities. They are tempted along the way with nonessential expenses including pet ownership, electronics, concert tickets and vacations. Students also step up to spin the “Wheel of Reality,” which increases or decreases their cash flow and simulates unexpected events and expenses that occur in day-to-day life. After students visit all of the expense tables, they balance their budgets to see if they made the right choices to successfully live on their own. To help the students review, they meet with volunteer financial counselors who show how well they managed their budget. In the end, students walk away with an awareness of the financial challenges they will face and the experience of maintaining a lifestyle based on a budget.
For Jaime Rodriguez, who recently joined Sikorsky Credit Union as the Assistant Manager of their Oronoque office, this was very eye opening. “This was my first time being involved and it is amazing to watch how students begin to recognize the importance of budgeting and saving.” Pat Laskowski, Business Educator added, “150 Shelton High School students participated in this real life financial experience to help them succeed in life. This event gave the students an opportunity to see how important budgeting will be in their futures. Some realized what their parents go through each month and how tough it can be to make ends meet.”
In addition to Shelton High School, Sikorsky Credit Union sponsors Financial Reality Fairs annually at 6 other local high schools, with over 1,000 students participating in the activity. Sikorsky Credit Union has educated thousands of area students in this exercise since 2008.
About Sikorsky Credit Union
Sikorsky Credit Union is one of the largest credit unions in Connecticut with more than 62,000 members. Membership is open to anyone who lives, works, worships, or volunteers in Fairfield, Hartford, or New Haven counties. Sikorsky Credit Union believes in banking the way you choose and gives members the option to bank at one of their convenient branch locations, online or through their mobile app. For more information, please visit www.sikorskycu.org. Deposits insured by the NCUA, an agency of the US government.