Event - Reality
Posted by Peggie Thorsen
Reality Check
Assabet Valley Regional Technical High School (AVRTHS) has proudly produced the “Reality Check” financial literacy event for the past three years. It was deemed such a success by students, faculty and volunteers, that the program has attracted even more students each year – this year, the entire sophomore class!
Assabet Valley Regional Technical High School
January 23, 2014 7:45 a.m. – 12:00 noon
Assabet Valley Regional Technical High School seniors will learn about financial responsibilities by choosing a career, receiving a paycheck and budgeting their income at the “Reality Check” on January 23.
In advance of the event, students will be assigned the task of finding their chosen career on a government website, determine a month’s salary and the percentages of deductions required. The first stop at the Reality Check is the paymaster from whom they will receive play money on which they must live for a month.
When the students receive their “money”…
- “Uncle Sam” will take his share
- Bankers will help them set up checking accounts, get loans and learn about credit.
- A realtor will help them choose a place to live.
- An auto dealer will help them select transportation.
- Other business professionals will help them purchase food, clothing, trips, insurance, utilities, telephone, internet service, etc.
- A “Wheel of Fortune” will help them deal with life’s unexpected expenses.
Credit counselors will help them figure out the thornier issues they face.- This year we are adding opportunities for community service!
If a student has money remaining, they may opt to meet with a banker to set up a savings account. Bank officers will instruct students about interest bearing accounts.
Students will work with actual business people from the community to learn why moms and dads have remarked that hey do not have the money for a new pair of sneakers or concert tickets in a given month. Business community members will advise students to make appropriate financial decisions for their futures.
About the Reality Check …The project was developed due to the need to educate teens in personal finance before they leave the nest. Volunteers from the business community staff the tables which each student must visit to complete a month’s budget. The goal is for students to realize that a good paying job will be essential to cover the costs of their living expenses.
This is a win-win-win opportunity for all concerned. The students learn to make better financial choices; businesses and students will gain exposure to each other in a positive light; businesses should suffer from fewer customer defaults in the future; and society as a whole benefits from having more financially responsible young adults.
The Reality Check is being produced by the Assabet Valley Regional Technical High School, the Marlborough Rotary Club, and the Marlborough Regional Chamber of Commerce. The major sponsor is Patriot Ambulance to which we are truly grateful for their support.
