The Rotary Club of Nashoba Valley ran its seventh annual financial Reality Fair for Nashoba Regional High School sophomores on Friday, April 5 . Over 50 volunteers brought a taste of financial literacy to the 243 students in the Sophomore class.
The Reality Fair was a financial management event for the high school’s sophomores, sponsored by the Rotary Club of Nashoba Valley, Nashoba Regional High School, and Clinton Savings Bank. The objective was to give students a better understanding of the financial responsibilities they will face in the real world. Students picked a career, received a monthly paycheck, and had to maintain a lifestyle within their budget.
“On the day of the fair, students get a paycheck based on a career that they select,” explained Jacky Foster, President of the Rotary Club of Nashoba Valley. “The paycheck shows their monthly salary and deducted taxes. With the remaining money, they need to pay for essentials like housing, utilities, insurance, transportation, clothing, and food. They are also tempted with “nice-to-have” luxuries, such as pets, travel, and entertainment, and they must spin a Wheel of Fortune that will help them understand life’s unexpected expenses or windfalls. It’s a real eye opener for most of them, and we can use more help for this learning experience. Besides, it’s a ton of fun!”
After students visited the various tables at the fair, they balanced their budgets and reviewed their spreadsheets with a credit counselor. The completed ledgers will be sent home to the students for further discussion. As a result, each student should gain greater financial literacy and appreciation for future financial decisions.
