How much does it cost a graduating teen to live? Is electricity free? Who pays for cable? On April 6, nearly 200
Acton-Boxborough students found out, when they participated in the Rotary Club of Acton-Boxborough’s fifth annual financial Reality Fair, a partnership between the Rotary Club and ABRHS.
The objective is to help students gain a better understanding of the financial responsibilities they will face in the real world. They pick a career, get a monthly paycheck, and make choices which will allow them to maintain a lifestyle within their budget. After visiting the various tables at the fair, they spin a wheel which adds
an unexpected financial windfall or setback. In the end, they balance their budgets and review their spreadsheets with a credit counselor, taking a step toward financial literacy and gaining an appreciation
of future financial decisions.
For some students, the choices worked easily, and the ledger ended with a surplus. Others were shocked to see, not only the dollar amounts for food, housing, and transportation, but the number of additional costs they hadn’t anticipated. Insurance, credit card debt, charitable contributions—it all had to be considered. More than one student, upon comparing their total expenses to their after-tax pay, said, “Oh no, I’m way over!” and had to reconsider their options. Maybe they would get a roommate, they said, or take the train to work rather than buy a car. Maybe they would furnish their apartment from their parents’ basement, not a department store, or make coffee at home rather than buy it daily. Whatever method they chose, they had to make their budget balance. Most gave the day high marks and said it had been a valuable learning experience.
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The Reality Fair was presented under the chairmanship of Rotarian Mike Gowing, ABRHS staff members Lindsay Rosenman and Genevieve Hammond, and nearly thirty Rotarians and community volunteers.
This is only one of the projects undertaken by the Rotary Club of Acton-Boxborough, a local member of Rotary International, a service organization of more than a million members worldwide, whose mission is to do good, in the community and worldwide. Community members who would like to know more are invited to join us at one of our weekly meeting. Information is available at www.actonboxboroughrotary.org.