RACINE, Wis.–Over the course of three days, more than 1,200 Racine Unified School District juniors visited the Roma Lodge to get a look at their future with the help of Educators Credit Union.
Students used Reality Check Day to practice managing finances after graduation. They used the Reality Check Day app – called Bite of Reality – to pick a career. They were given a monthly income based on regional incomes for their job and are randomly assigned a spouse, children, pets and a credit score. All of that information set the stage for the simulation.
Once their profile was set, students then started shopping. Students picked out transportation, housing, childcare, etc. They can’t have a negative balance if they want to check out for the day. If they get to the end and need some money, they’ll have to go back and make some changes, like selecting a two-bedroom apartment instead of a three-bedroom house. Students said the experience helped prepare them to plan for life.
Educators Credit Union said its goal was for students to learn those lessons in a low-stakes environment.
“We want students to understand budgeting and what things cost in the real world,” said Director of Community Engagement Victor Frasher. “Hopefully, they take away how important it is to make decisions based on your income and personal situation. Those aren’t lessons they can afford to learn in the real world, so we try to create a place for them to practice those skills safely.”
Reality Check Day has been a part of the Academies of Racine curriculum since 2018, but RUSD first partnered with Educators in the mid-2000s. Since then, the program has taught budgeting and money management to thousands of students.