A recent lesson in one classroom at Portage Northern High School taught students about what’s right around the corner in adulthood.
Spoiler: it’s bills.
Portage Northern High School students enrolled in Amy Meyer’s Accounting and Finance CTE class and those in Personal Finance with Kyle Paffhausen attended what the teachers call a “Financial Reality Fair.”
It’s exactly the wake-up call it sounds like.
Studio apartment or large single family home? Brand new car with a large payment or the cheaper, older option that’s paid off? Would you own a dog and take on those extra expenses? What about a gym membership? Or extras like spa treatments and manicured nails?
These are the types of decisions the students had to face at the Reality Fair, which is sponsored by Arbor Financial Credit Union.
CLICK HERE TO SEE PHOTOS FROM THE EVENT
Armed with a phone app that simulates budget building, the students moved between stations to make choices for expenses such as housing, transportation, food, clothing and entertainment. They first chose a career in the app that closely mirrored what they hoped to do after graduation and then were randomly assigned a credit score.
“Life looked a lot different from one student to another based on their career choice and credit score,” Amy said. “They talked a lot with each other about their budgets and saw how different career choices made an impact on the money they had to spend.”
Along the way, the students were also met with the “fickle fingers of fate,” which much like the board game Life, would dish out surprises like a gift of cash or a costly car repair.
“The students learned that how far their money goes is based on the choices they make,” Amy said. “They saw just how fast our paychecks can be gone to bills and the cost of living.”
Students are also forced to prioritize their wants and needs and make tough choices – sometimes skipping the costly video game console in favor of groceries.
“As a teenager, you’re not thinking about the cost of owning a pet, for example,” Amy said. “It was that reality check of ‘you need to be prepared.’”
If the students were to run out of money, the app forced them to go back and make a different selection. Their choice of vehicle, for example, was also limited by their credit score – just like in real life.
Amy said the Financial Reality Fair has been happening at PNHS for the last few years and she enjoys seeing the lightbulb moment when students’ eyes open to the cost of life.
Real-world application of the curriculum has always been a part of Amy’s approach to teaching students about finances. Every year, Consumers Credit Union joins her students in class to teach about the impact and importance of credit scores.
A representative from Arbor also comes two to three times ahead of the Financial Reality Fair to teach the foundations of budgeting and credit.
Thank you to our community partners for bringing these real-world lessons to our PPS students!