How to manage money is a lesson that everyone needs to learn, but many high school students graduate without knowing how to balance a checkbook or create a budget.
In an effort to give students a leg up on money management, the Delta Schools Federal Credit Union will be presenting the Bite of Reality program to Deer Valley High School students on Monday, May 18.
The program, which is sponsored by the RMJ Foundation and the credit union, is a two-and-a-half-hour interactive simulation that teaches kids how to manage money.
Students are given a fictional persona, including an occupation, salary, spouse and family, as well as student loan debt, credit card debt and medical insurance payments.
They then must navigate table stations to “purchase” housing, transportation, food, clothing, household necessities, child care and other expenses.
Kelly Green, Deer Valley’s performing arts teacher and work-based learning coordinator, said that financial literacy education is important because many students don’t have jobs and aren’t learning financial skills like how to manage and budget money.
“(The program) simulates everyday financial challenges and situations that adults find themselves in,” said Green.
Volunteers from the credit union and the community will manage the stations and will encourage students to overspend, so they learn the importance of budgeting their money.
“It’s designed for students to fail so they learn from their mistakes,” said Rob Greaff, CEO of Delta Schools Federal Credit Union. “It’s a fun, safe and interactive way for students to fail and learn from their mistakes before they make them in the real world.”
Delta Schools Federal Credit Union has presented the Bite of Reality Program to schools all over the East Bay, including Freedom High School, Dozier-Libbey Medical High School and Martin Luther King Jr. High School. This year alone, the program provided financial literacy education for more than 1,400 students in Antioch and Brentwood schools.
For more information, visit http://www.rmjfoundation.org/.