More than 900 seniors and many more students are expected to participate in the event, which will teach financial literacy skills
Today’s economy makes the need for financial literacy more compelling than ever before. Credit unions located throughout eastern Pennsylvania will participate in the CU Financial Reality Fair, an initiative to assist young adults with a better understanding of financial literacy. The groups have partnered with Reading High School, which will host the event for different grade levels over several days in the school’s auditorium. All RHS seniors will participate in the fair, making it one of the largest of its kind since the initiative was started.
The Financial Reality Fair, staffed by 50 volunteers each day, will provide students with a hands-on opportunity to test living within a budget. This “real world” exercise requires each student to choose a career and a salary, and then budget his or her money wisely to make ends meet by role playing real-life events. For example, students must find a place to live, obtain transportation to work, pay for food and pay for other essential needs. Students will also learn about salaries, taxes, loans, budgets, security deposits and credit scores, among other financial topics. At the end of the experience, students will have learned what it takes to make ends meet from month to month, and they will have a better appreciation of the importance of budgeting, financial planning, and making wise purchasing choices.