S.C. Telco Federal Credit Union will sponsor a financial Reality Fair at Landrum High School on Wednesday, Jan. 18, beginning at 8:30 a.m.
The purpose of the fair is to educate the 105 seniors on the monetary realities they will face upon graduation from high school or college.
Based on their choice of career or job, each student will receive a budget sheet showing their monthly salary, all deductions and their take-home pay.
With this net pay the students will then purchase items that they need and want such as: housing, transportation, food, clothing, cell phone, furniture, pets and other items.
They will then make the choice of how to pay for or finance these items.
Each student must also visit “The Wheel of Reality” where they will spin the wheel to see if they receive a graduation gift of $200 or if they receive a D.U.I. ticket and have their insurance increase and pay a fine.
With the help of financial counselors from S.C. Telco, the students’ goal will be to finish the exercise with a positive balance at the end of their month.
Terri Hendrix, community relations manager of S.C. Telco, said, “Credit unions have been advocates of financial education since our very inception. We know that informed consumers will make wiser financial choices and possibly avoid financial difficulties that many adults are facing today. That’s what we want to do with these seniors, give them a chance to learn the hard lessons of financial management now, so that they’ll be better off later when they are on their own.”
– article submitted by Terri Hendrix