AMISTAD HIGH SCHOOL STUDENTS TAKE A "BITE OF REALITY"
Indio Teens Participate in Financial Education Simulation at JW Marriott Desert Springs
A group of high school students from Amistad High School in Indio got a taste of adult life via a recent financial reality fair called Bite of Reality.
The Nov. 4 event at the JW Marriott Desert Springs Resort in Palm Desert, CA was offered by the Richard Myles Johnson (RMJ) Foundation, the state foundation for credit unions in California and Nevada. The event aims to teach young people the basics of finance by having them take a "real world" test drive complete with a job, money and the freedom to make their own financial decisions.
As the high schoolers entered the Santa Rosa Ballroom at the resort, they were given a fictional persona complete with occupation and family. In their new "roles," they purchased housing, transportation, food, day care, and other needs. They also dealt with pushy salespeople (portrayed by employees of various credit unions) as well as unexpected expenses or windfalls.
Those at the "credit union" table assisted the teens when they got into financial trouble, such as 18-year-old Erick Vazquez. He ended up there after going overboard purchasing a trip to London for his family and not having enough money for necessities.
"I need to not go to London. Ill just stay home and watch TV," he sadly told the credit union "staffers" Christine Haley, CEO of PostCity Financial Credit Union in Long Beach, CA, and Trish Williams, chief service officer at CBC Federal Credit Union in Oxnard, CA.� Haley and Williams were able to counsel Erick on what steps he could take to straighten out his financial path.
"Its good," Erick said when asked about the program. "I learned you have to be smart about your money. You have a family and responsibilities you have to take care of."
His biggest lesson? "Dont buy a trip to London. It can make you go bankrupt. Buy a house and car first. Settle down, and then you can save up for London."
For 15-year-olds Melanie Moreno and Emily Diaz, the event was as much fun as it was eye-opening.
"Everything is expensive; babies are expensive," Emily said.
And 17-year-olds Patty Carrasco and Valerie Ruelas got a valuable life-lesson: "People try to trick you into getting the most expensive stuff," Patty said.
This taste of reality is exactly what Tena Lozano, executive director of the RMJ Foundation, hopes young people take away from the Bite of Reality program.
"They may learn lessons in the classroom about budgeting, but to actually feel like theyre purchasing major items, such as housing and transportation, as theyll be doing when theyre adults, can give them an even greater idea of the financial challenges of adulthood," Lozano said. "Bite of Reality offers teens an opportunity to learn those lessonsto fail evenin a low-risk setting before they have to make those decisions in real life."
The Richard Myles Johnson Foundation, founded in 1958, is dedicated to supporting credit union efforts in spreading the financial literacy message to young people. The Foundation offers the Bite of Reality program, a hands-on simulation program that teaches the basics of finances to teenagers. It is funded through donations from credit unions, League chapters, corporations providing credit union services, and individuals. More information about the Foundation is available at its website at www.rmjfoundation.org.��
Photo: �Wescom Credit Union (Pasadena, CA) Senior Branch Manager Tony Nowak sells furniture and other household goods to Amistad High School student Jennifer Ruiz, 17, during an interactive financial education simulation held at the JW Marriott Desert Springs on Nov. 4. The Bite of Reality program is offered by the Richard Myles Johnson Foundation, the state foundation for credit unions in California and Nevada. It is designed to teach the basics of finance and budgeting to young people.
AMISTAD HIGH SCHOOL STUDENTS TAKE A "BITE OF REALITY"
Indio Teens Participate in Financial Education Simulation at JW Marriott Desert Springs
A group of high school students from Amistad High School in Indio got a taste of adult life via a recent financial reality fair called Bite of Reality.
The Nov. 4 event at the JW Marriott Desert Springs Resort in Palm Desert, CA was offered by the Richard Myles Johnson (RMJ) Foundation, the state foundation for credit unions in California and Nevada. The event aims to teach young people the basics of finance by having them take a "real world" test drive complete with a job, money and the freedom to make their own financial decisions.
As the high schoolers entered the Santa Rosa Ballroom at the resort, they were given a fictional persona complete with occupation and family. In their new "roles," they purchased housing, transportation, food, day care, and other needs. They also dealt with pushy salespeople (portrayed by employees of various credit unions) as well as unexpected expenses or windfalls.
Those at the "credit union" table assisted the teens when they got into financial trouble, such as 18-year-old Erick Vazquez. He ended up there after going overboard purchasing a trip to London for his family and not having enough money for necessities.
"I need to not go to London. Ill just stay home and watch TV," he sadly told the credit union "staffers" Christine Haley, CEO of PostCity Financial Credit Union in Long Beach, CA, and Trish Williams, chief service officer at CBC Federal Credit Union in Oxnard, CA.� Haley and Williams were able to counsel Erick on what steps he could take to straighten out his financial path.
"Its good," Erick said when asked about the program. "I learned you have to be smart about your money. You have a family and responsibilities you have to take care of."
His biggest lesson? "Dont buy a trip to London. It can make you go bankrupt. Buy a house and car first. Settle down, and then you can save up for London."
For 15-year-olds Melanie Moreno and Emily Diaz, the event was as much fun as it was eye-opening.
"Everything is expensive; babies are expensive," Emily said.
And 17-year-olds Patty Carrasco and Valerie Ruelas got a valuable life-lesson: "People try to trick you into getting the most expensive stuff," Patty said.
This taste of reality is exactly what Tena Lozano, executive director of the RMJ Foundation, hopes young people take away from the Bite of Reality program.
"They may learn lessons in the classroom about budgeting, but to actually feel like theyre purchasing major items, such as housing and transportation, as theyll be doing when theyre adults, can give them an even greater idea of the financial challenges of adulthood," Lozano said. "Bite of Reality offers teens an opportunity to learn those lessonsto fail evenin a low-risk setting before they have to make those decisions in real life."
The Richard Myles Johnson Foundation, founded in 1958, is dedicated to supporting credit union efforts in spreading the financial literacy message to young people. The Foundation offers the Bite of Reality program, a hands-on simulation program that teaches the basics of finances to teenagers. It is funded through donations from credit unions, League chapters, corporations providing credit union services, and individuals. More information about the Foundation is available at its website at www.rmjfoundation.org.��
Photo: �Wescom Credit Union (Pasadena, CA) Senior Branch Manager Tony Nowak sells furniture and other household goods to Amistad High School student Jennifer Ruiz, 17, during an interactive financial education simulation held at the JW Marriott Desert Springs on Nov. 4. The Bite of Reality program is offered by the Richard Myles Johnson Foundation, the state foundation for credit unions in California and Nevada. It is designed to teach the basics of finance and budgeting to young people.