Schools
JTHS Holds Reality Fair to Teach Financial Literacy Skills
In partnership with Abri Credit Union, Joliet Central and Joliet West held their annual Reality Fairs this week
In partnership with Abri Credit Union, Joliet Central and Joliet West held their annual Reality Fairs this week, providing students with real-world money management skills. In preparation for the Reality Fairs, students researched their career interest, identified their monthly salary, assessed their deductions (i.e., taxes, savings, student loans, etc.) and calculated their net monthly income.
At the Reality Fairs, each student received checks and a check register with one month’s salary reflecting the student’s individual career interest. Students gained hands-on experience as they participated in simulations that allowed them to make financial decisions based upon a salary aligned with their chosen occupation. Students moved through stations that represented real world obligations like housing, car loans, insurance, utilities, food, clothing, and fun. Students deducted the cost of each obligation from their registers.
After the Reality Fairs, students reflected on their spending patterns. The students and their teachers discussed what students could do differently in order to make sure they had enough money left at the end of the month.
