DANBURY, Conn.– Sikorsky Credit Union continues to work to help high school students preview what they will face in the future by sponsoring Financial Reality Fairs.
Students in several local communities were able to glimpse into their future by attending a Financial Reality Fair at their school, including at Henry Abbott Technical High School in Danbury recently. This is the ninth year that Sikorsky Credit Union has held Financial Reality Fairs, and the fifth year at Henry Abbott TechThe Financial Reality Fair gives students the opportunity to experience “real-life” finances based on their chosen profession. During the Reality Fair, students visit expense tables to spend their "hard earned money" on real-life choices, such as housing, transportation, food, and utilities. They are tempted along the way with nonessential expenses including pet ownership, electronics, concert tickets and vacations. Students also step up to spin the "Wheel of Reality," which increases or decreases their cash flow and simulates unexpected events and expenses that occur in day-to-day life, the credit union said. After students visit all of the expense tables, they balance their budgets to see if they made the right choices to successfully live on their own. Students then meet with volunteer financial counselors who determine how well they managed their budget and give suggestions. In the end, students walk away with an awareness of the financial challenges they will face and the experience of maintaining a lifestyle based on a budget.
“Today’s experience reminded me of the value Reality Fairs bring to the students who learn just how much real life costs,” said Vincent Ciambriello, the President and CEO of Sikorsky Credit Union who participated in this event as a Financial Counselor.
Ryan Kelley, Computer Applications Teacher in charge of the Reality Fair at the school added, “The Sikorsky Credit Union team of volunteers did an outstanding job. The program gave our students an understanding of what managing money in real life situations is really like and why budgeting and managing your money is so important."
Earlier this spring, Sikorsky Credit Union also held Reality Fairs at high schools in Ansonia, Oxford, Seymour and both high schools in Stratford.