Insurance, housing, transportation, bills… these were just some of the things Warwick 7th graders had to think about during the reality fair simulation that took place on Tuesday, October 2nd 2018. Lanco Federal Credit Union returned to Warwick for the second time to conduct the “Reality Fair Simulation”.
Last year, Warwick 8th grade students participated in the event, this time around the 7th graders had a chance to see what it was all about. Students were given set salaries and budgets that they needed to stick to. Students needed to analyze their budgets and figure out how much they would be able to spend on housing, transportation, insurance, and entertainment. Once their budgets were balanced they had the opportunity to spin the “Wheel of Reality” which could land on any type of real-life experiences. This would include things like having a car trouble, rental damages, dropped phones, or more positive things like landing a $150 promotion at work, a tax return or a gift.
“Our goal is to work on financial literacy within our community, and this is a fun way to teach it to the kids,” stated Steve Turpin, Business Development Manager for Lanco Federal Credit Union right here in Lancaster. "We had a lot of faith in the 7th graders for this year. It’s interesting to see students figure out how to make their budgets work.”
The Reality Fair is a fun and interesting way to get the middle school students thinking about real life situations and start understanding how to budget in their lives.