TruMark Financial Credit Union challenged the teens to act as independent adults and make financial decisions during a Financial Reality Fair
The Times
More than 175 students from William Tennent High School participated in an interactive budgeting exercise in an effort to learn how to manage their money responsibly.
The event, sponsored by TruMark Financial Credit Union in conjunction with the Pennsylvania Credit Union Foundation, was held at the Warminster-based school on Nov. 8, and challenged students to act as independent adults and make financial decisions.
Students chose a career, complete with a starting salary, and were given a budget worksheet. They were required to visit 14 booths to make spending decisions on necessities such as housing, transportation, food and clothing, insurance, and other categories within their budget.
In order to make things as realistic as possible, students were required to spin a wheel of reality for those unexpected situations everyone faces. If the spin landed on an expense such as a flat tire, the student had to decide if they would pay for the expense with a credit card or withdraw the money from their checking account. If the spin landed on a source of income such as a winning lottery ticket, they would add the amount to their savings or checking account.
Upon visiting all the booths, students met with financial counselors, who reviewed their worksheets and advised them on adjustments that might be necessary to live within their salary constraints.
The Financial Reality Fair brought together representatives from TruMark Financial, local businesses, and members of the community who share a strong commitment to promoting good saving and spending habits among young adults.
To learn more about TruMark Financial, call 1–877-TRUMARK or visit trumarkonline.org or facebook.com/trumarkonline
