Financial Reality Fairs for SoMD Students

Cedar Point Federal Credit Union® recently partnered with Educational Systems Federal Credit Union to facilitate Financial Reality Fairs for students in Charles, Calvert, and St. Mary’s counties. Over 400 students from grades seventh to twelfth have participated in five events this school year. Calvert and Charles Counties chose to involve middle school students, while St. Mary’s opted to present the material to high school students.

A Reality Fair is an interactive financial literacy initiative that encourages students to think differently about money. During these events, students can simulate what it is like to be an adult for a day. They manage jobs, household expenses, and bills. Students are assigned a profession and then move from table to table, choosing their lifestyle options. They make decisions on housing, utilities, car loans, groceries, and more. Afterward, they meet with knowledgeable financial counselors to see if they managed to stay within budget or should reevaluate their financial decisions.

These fairs are designed to introduce the concept of personal financial management and budgeting. They also explore other topics, like how education and career choice affect everyday life, the importance of credit, and how credit cards are used. Nikki Phillips, Career Advising Coordinator for Calvert County Public Schools, recorded student responses like, "Wow, my parents have to do this every month?" and "I never realized how much went into a budget."

These events were only possible because of the excellent teamwork between the school districts, the credit unions, and community volunteers staffing the events. Christina Jones, the College and Career Specialist at Charles County Public Schools, was grateful for all the community support. “It was wonderful,” said Jones. “The kids were truly engaged.”

Kristin Kauffman of Cedar Point and Candace Thompson of Educational Systems spearheaded this project with all three counties. “It was exciting for us to see how the Reality Fair impacted students at the various grade levels,” said Kauffman. “Middle schoolers were just getting an understanding of budgeting, while high schoolers were getting an education in why swiping a credit card needs to be a well-planned decision.”

Your local credit unions are committed to helping the community by providing financial support and education for people of all ages. Cedar Point and Educational Systems are grateful for the opportunity to reach the students in these three counties. They will continue to provide excellent financial education opportunities through school districts, online education, and more.