GMHS Students Get a Healthy Dose of Reality at Financial Reality Fair

Credit scores, loans, mortgages, and monthly payments are all normal parts of adult life. However, too often the first time that individuals encounter these concepts is when they are putting pen to paper, signing off on an expense without understanding the ramifications.

On February 8, Governor Mifflin High School juniors received hands-on experience with personal finance at the Financial Reality Fair, which was held in collaboration with the Utilities Employees Credit Union (UECU).

Students begin the fair with a randomly assigned monthly income, credit score, and amount of debt, which inform their decision-making process as they proceed through the fair. Over the course of thirty minutes, students visit stations manned by volunteers from the financial industry to choose expenses ranging from basic necessities like food, housing, and clothing as well as luxury items, such as spa treatments or entertainment.

Students may have a perfectly balanced budget after selecting their expenses, but, as is the case in real life, monthly finances are not always predictable. Students finish their journey at the ‘Wheel of Reality’ where may find themselves unexpectedly paying for a fender bender or receiving a tax refund.

Following the activity, students calculate their income versus expenses to determine if they stuck to their budget or if they are living beyond their means. They also consult with a financial advisor to discuss how they could have improved and what they would have changed.

“This is real world insight,” said Kristi Bonanno, internship and school-to-work coordinator for the district, “every student will experience this regardless of where they go in life.”

“We have a great elective, Personal Money Management, at the high school that covers these topics, however not every student takes the course,” added Kim Murray, school counselor for Governor Mifflin High School, “this is a great way to spark interest and increase financial literacy among all of our students.”

For many students, this experience has shifted their perspective on financial management and opened their eyes to the options available to them—and what that will cost—once they enter adulthood.

“This opened me up to my possibilities after college. It gave me a good idea of what I can expect once I finish schooling and how I can balance finances and lifestyle,” says junior Joey Berg.

Governor Mifflin High School would like to thank Erica Wennel of UECU for collaborating with us and organizing this event and to all of the industry volunteers who gave their time to work with our students.