TruWest launches youth financial education simulation
Bite of Reality Program teaches kids how to budget and spend consciously
SCOTTSDALE, AZ (June 27, 2023) — TruWest®Credit Union recently launched its signature Bite of Reality financial education program for students in grades 8-12 as well as college students. The simulation is intended to provide kids and young adults with the opportunity to budget strategically and manage money in real world situations.
Through the program app, students are assigned a profile that comes with a job title, salary, family situation, debt level (if any) and monthly budget information. Participants are then prompted to begin evaluating and making choices for housing, tech, transportation, grocery, childcare, travel and entertainment based on their budget, salary and lifestyle. On site volunteers facilitate the process.
“Exposing students to budgeting and money management at a young age will have an invaluable impact on their financial future,” said the credit union’s CFO Mike Ward. “TruWest’s Bite of Reality simulation is a memorable and effective program for kids and young adults.”
Inevitably, some students will go over their budget and have the opportunity to visit the credit union in order to receive counsel on financial decisions and guidance to adjust spending to get back within budget. It is not always the participant with more discretionary income who comes in under budget. It is a fun exercise to see what habits are employed within the child’s experience, saving versus spending. Conscious spending is key.
For more information regarding TruWest Credit Union and the Bite of Reality youth financial education program, please visit truwest.org/bite-of-reality/.
About TruWest Credit Union
TruWest® Credit Union is headquartered in Tempe, Ariz. and operates as a cooperative providing its members with a lifetime of quality financial services and a culture of caring for its organization, employees and communities. TruWest is a strong and sound financial institution with more than 90,000 members and assets totaling more than $1.7 billion. TruWest Credit Union has 11 branch locations—eight in metro Phoenix and three in Austin, Texas. For more information, visit www.truwest.org.
