On Friday, Dec. 13, the students of the Money Matters classes taught by Mrs. Tanya Martin and Mrs. Tiffany Ott participated in the annual Financial Reality Fair. The fair was put on by the Norwin Teachers Federal Credit Union and its CEO, Amy Lichwa.
“I hope that the students gain the reality of what budgeting and financial awareness will do to help their everyday life,” said Lichwa.
The Financial Reality Fair was held in the auxiliary gym and students were encouraged to bring their phones or a calculator so they could complete the math involved in the activity. At the start of the fair, students picked a career path and using a yearly salary representing that career, went to a series of tables in no specific order where they would, with the help of the adults manning the tables, which included Norwin Chamber of Commerce workers, credit union volunteers from various credit unions, and retired Norwin teachers, decide how much they would like to spend on various expenses, such as food, clothing, entertainment, pets, gym usage, their phone, housing, etc.
Students were encouraged to make their decisions on their expenses based on what they know they would want in the future and not to give strictly practical answers. For example, if the students had to calculate how much they would eat out in the future, they were encouraged by those running the event to calculate the expense based on how much they would want to eat out, and not decrease the number in order to meet their budget.
At the end of the fair, students would calculate their total expenses and meet with a financial advisor who would give them advice on future budgeting based on their expense totals. After the fair, students completed a “Follow-Up Reality Fair” survey in class.
A table was also set up that was occupied by a representative from Saint Vincent College who would give students information and answer their questions about the college and financial aid.
“The purpose of the Reality Fair is real-world application of their career choice and finances,” said Money Matters teacher Mrs. Ott.
The Financial Reality Fair gives Money Matters students a glimpse into the future of life with the career they are interested in and what expenses may arise.
“It was a learning experience about what the future will hold,” said junior Money Matters student Noah Juricich.
