DANBURY, Conn.– Students at Henry Abbott Tech took a glimpse into their future by attending a Financial Reality Fair sponsored by Sikorsky Credit Union. This is the fourth straight year that Sikorsky Credit Union has held a Reality Fair for students at Henry Abbott Tech, and the eighth year the Credit Union has held these fairs overall.
The 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 increased or decreased their cash flow and simulated unexpected events and expenses that occur in day-to-day life. After they visited all of the expense tables, the students balance their budgets to see if they made the right choices to successfully live on their own.
Finally, students meet with volunteer financial counselors to review how well they managed their budget. 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.
“Having worked in the financial industry for many years, I have seen first-hand what happens when people live beyond their means,” said Paula Dias, manager of the SCU’s Danbury branch. “The Reality Fair gives students a chance to really think about how everything they spend money on will impact their life now and in the future.”