By Mike Hutchens, UC Schools Communications Director
Union City, Tenn.–The “real” world is still a ways down the road for Union City Middle School eighth graders.
Preparations are beginning now, though, in Lindsey Walker’s computer applications classes.
With the help of representatives from Leaders Credit Union, Walker has introduced her classes to adult life with a Financial Reality Fair.
A reality fair is a guided simulation in which students are given a profile, complete with a job, a salary, and a spouse with a salary. There are various monthly financial obligations – including student loan debt, health insurance, credit card debt and childcare.
Class members manage their families’ living expenses, choosing housing options and budgeting for vehicles, utilities, food, and other household needs. Unexpected financial needs and emergencies are also part of the big-picture project, as is putting some money back for savings.
“They’re really beginning to learn just how much money it takes to support and manage a household,” Walker said. “It’s been a real dose of financial reality as there are so many expenses that they just weren’t aware of or considered.”
The ultimate goal is for students to end the month-long simulation with no more than $100 leftover and no negative or overdrawn balances.
The blueprint of the project is provided in a Leaders Credit Union power point.
“These are great lessons they are learning,” Walker added. “It’s a very realistic project and they really have loved it. I hear them talking about it outside of class, and I know they are discussing it at home, too.
“I have no doubt they’ll consider some of these things as they become responsible adults.”