Juniors get a financial reality check

Nearly 300 juniors participated in the event, which was led by Nikki Colella, family & consumer science and business education teacher.

Along with volunteers from Clearview Federal Credit Union, several high school parents volunteered to assist in making the event a success. 

“This was our second year hosting the fair for our junior class and I hope to continue to partner with Clearview and our volunteers to provide this opportunity for our students,” Ms. Colella said.

Prior to the simulation, students researched the starting salary of a career of their choice and were provided a budgeting spreadsheet to complete as they worked their way through the fair. Students visited several tables representing required budget categories that included housing, transportation, food, furniture, phones and internet, entertainment, and clothing. In addition, students could budget for optional items such as pets; hair, nails and spa; fitness/gym; as well as part-time jobs. 

Each student was required to spin the "Wheel of Reality" to receive an unanticipated expense or surprise income. Students had to figure out how to pay for a birthday gift, broken phone or car repairs or they benefited from a bonus at work or a birthday check from a family member. 

As a culminating activity, students met with a financial counselor to review their budgeting spreadsheet and discuss their options for maintaining a balanced budget.

“The students really enjoyed the simulation and saw the value in learning the basics of financial literacy,” Ms. Colella said. “I hope that it encouraged some of them to take our Financial Literacy or Practical Living courses that are offered at the high school.”

The high school’s Personal Finance course for juniors and seniors focuses on making positive financial decisions. This course aims to help students develop money management skills both now and in the future. Topics explored in the course include budgeting, saving, banking, compound interest, retirement, credit cards, loans, the stock market and product profitability. 

Practical Living is a hands-on, activity-based course for students in grades 9-12. Much like the Financial Reality Fair, the course provides students with the knowledge and skills needed to make decisions as they leave high school and live on their own. Students have the opportunity to explore a specific career, develop job interview skills, set up a budget that includes housing and transportation, understand credit and improve consumer skills. 

“Events like the Financial Reality Fair and the Financial Literacy and Practical Living courses that are offered at the high school help students to understand budgeting, saving, and managing credit so that they are able to make informed financial decisions,” Ms. Colella said. “By offering these opportunities to students, we are preparing them to develop healthy financial habits that will benefit them long after they graduate from high school.”