LONG BEACH, Calif.– LBS Financial Credit Union hosted a Bite of Reality financial education event for Wilson High School seniors. Thirty-three LBS Financial Credit Union employees and one board member staffed this interactive learning event.
Bite of Reality is a simulation app, provided by the Richard Myles Johnson (RMJ) Foundation, that teaches teens how to make financial decisions and provides a better understanding of building a budget and monitoring everyday spending habits. Students are given a fictional occupation, salary, credit score, spouse, child or both, student loan debt, credit card debit, and medical insurance payments. The students then walk around to various stations to “purchase” housing, transportation, food, clothing, and other needs.
LBS Financial Credit Union employee volunteers were tasked to sell the students cars, household furnishings, and other items to spend on the budget assigned to them.
The program also features a credit union station to help with their financial needs and unwind any purchases towards the end of the simulation so they can stay within their budget. The RMJ Foundation provides the Bite of Reality app and tools for credit unions to host at local schools.
“Being an alumnus from Wilson High School, I was immediately drawn to volunteer and help make a difference,” said LBS Financial employee and volunteer Tiare Burlingame. “This event truly helped give the students insight into daily life as an adult and gave them a crash course on financial literacy.”
Woodrow Wilson High School is in Long Beach Unified School District and located directly across the street from LBS Financial Credit Union’s very first branch location. The credit union was originally chartered by employees of Wilson High School and Long Beach City College in