SMITHFIELD, R.I.– This past month, Navigant Credit Union brought financial literacy lessons to life for more than 700 students across Rhode Island through its “Reality Fair”, a hands-on, interactive budgeting experience. Students explored how career choices, income and everyday expenses shape financial decisions, gaining practical experience in managing a household budget.
Held a Kirkbrae Country Club in Lincoln, RI, participants represented schools across Rhode Island including students from North Providence High School, Smithfield High School, North Smithfield High School, Lincoln High School, City Year Rhode Island, Ponagansett High School, Beacon Charter School, Dr.Jorge Alvarez High School, and Cumberland High School.
“To see the level of turnout and engagment from the students who participated in our October Reality Fair was beyond encouraging,” said Amanda LaRose, AVP of Financial Education at Navigant Credit Union, who spearheads the program. “This event really emphasizes the role that credit unions play in local communities. At Navigant, giving back to our community has always been central to who we are and financial literacy plays no small part in that effort. It’s with great pride that we can support the future leaders of our community and provide them with the resources they need to be financially successful.”
During the 90-minute experience, each student was assigned a career and corresponding income level before navigating interactive budgeting stations. Students made financial decisions involving housing, transportation, food, insurance, savings, childcare, entertainment and other everyday expenses.
The exercise gave students an opportunity to weigh competing needs and wants, consider tradeoffs and see how individual spending choices affect a budget. By applying financial concepts to realistic scenarios, participants practiced the money management and decision-making skills they will need as adults.
