South Jersey Federal Credit Union has teamed up with the New Jersey Credit Union League to bring a Financial Reality Fair to the 8th grade students of Mary E. Volz school in Runnemede.
The Reality Fair provided a unique opportunity for students to experience financial challenges they may face when they start life on their own.
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.
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As they go thru the Fair, students stop by tables to find an apartment or home, purchase a vehicle, cell phone plan, utilities, insurance, groceries, personal needs/haircare, fitness, clothing, fun activities, incidentals and savings. Along the way there are many temptations for additional spending, and students must learn to balance their wants and needs to stay within their income.
After the students have visited the various stations covering components of independent living, students balance their budget, and then sit down with a financial counselor for review.
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