San Bernardino High School Students Take a "Bite of Reality" by Tina Ramos-Ingold - City News Group, Inc.

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San Bernardino High School Students Take a "Bite of Reality"

By Tina Ramos-Ingold, Community Writer
January 26, 2016 at 03:48pm. Views: 39

Seniors at San Bernardino High School got a “bite of reality” recently when they attended an interactive financial education simulation designed to teach them how to manage money. The Jan. 20 event was run by staff from San Bernardino-based Thinkwise Credit Union, all of whom volunteered their time. Also volunteering their time were staff from the high school as well as Cal State San Bernardino students. The program is 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. The 70 students were given a persona complete with occupation, salary, spouse and family, student loan debt, credit card debt, and medical insurance payments. They then went shopping “purchasing” items such as housing, transportation, food, clothing, household necessities, and daycare. They dealt with pushy salesmen as well as unexpected expenses and windfalls to learn how to make wise financial choices. And when some overspent, those staffing the "credit union" station provided much-needed assistance. For the teens, the event helped them to see the world of adulthood in a brand new way. “Without thinking you can spend your money in a flash,” said 17-year-old Griselle Vasquez. Eileen Macias, 17, learned another lesson during the event—“how easy you can get manipulated to spend on stuff you don’t really need. “We all need to be careful with what we have,” she added. That 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. "Having students experience making financial decisions in a financial simulation, gives them a better understanding of the challenges of adulthood without the real-life risks,” she said. At the end of the event, Thinkwise Credit Union CEO Kevin Posey told the group that learning how to budget your money is a skill; and one important for people to acquire. “It doesn’t matter how much money you make if you can’t manage your money right,” he said.

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