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National CU Foundation Releases New Reality Fairs Video
Wednesday, December 2, 2015 6:40 AM

The National Credit Union Foundation has released a new video about Reality Fairs to highlight the value of this unique financial literacy experience. This video is comprised of numerous testimonials and provides an overview of Reality Fairs through onsite footage at a recent fair being held at the state capitol in Hartford, Connecticut, by area credit unions.

The National Credit Union Foundation has been a catalyst and longtime supporter of Reality Fairs. A Reality Fair (or “Financial Reality Fair”) is an interactive financial literacy tool for high school students. The Reality Fair concept is a unique opportunity for students to experience some of the financial challenges they will face when they start life on their own. It’s a hands-on experience in which students identify their career choice and starting salaries then complete a budget sheet requiring them to live within their monthly salary while paying for basics such as housing, utilities, transportation, clothing, and food. Additional expenditures such as entertainment and travel are factored in as well.

Throughout the fair, there are many temptations for additional spending, and students must learn to balance their wants and needs to live on their own. After the students have visited the various booths covering components of independent living, students balance their budget, and then sit down with a financial counselor for review.