TruMark Financial Reality Fair- Volunteers NeededOctober 04, 2019Financial Reality Fair
What is a Financial Reality Fair?
A Financial Reality Fair is a hands-on experience in which students, after identifying their career choice and starting salaries, are provided a budget sheet requiring them to live within their monthly salary while paying for basics such as housing, utilities, transportation, clothing, and food - and some not-so-basics like entertainment and travel.
Along the way there are many temptations for additional spending, and students must learn to balance their wants and needs to potentially live on their own. After they have visited the various booths covering components of independent living, students will spin the “Wheel of Reality” to see which one of life’s surprises they’ll have to add or subtract from their bottom line. They will then balance their budget, and sit down with a financial counselor to review their standing.
The Fair is a unique opportunity for each student to experience some of the financial challenges they will face when they start life on their own.
An important feature of a responsible financial lifestyle is saving. In the Financial Reality Fair experience, students are encouraged to save a minimum of 10% of their income. The Financial Counselors explore the importance of planning for future needs and preparing for future financial challenges through savings. The Fair will tempt students to spend their income on “fun,” but the financial counselors will bring the focus back to saving and thrift practices.
1. Increase financial literacy among our youth
2. To engage them in their preferred style of learning (Experiential Learning)
3. Create financial awareness at an early age
1. Hands-on, real-life experience
2. A better understanding of earnings, spending, budgeting and savings
3. Instills the importance of sound financial habits
For more information:
? Visit http://www.pcua.org/About-Us/Affiliates/PaCUF/reality-fairs.aspx
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