Students Get Better Understanding of Financial Responsibility at 'Life is a Reality' Program
TOWN OF DICKINSON (WBNG) -- Nearly a thousand local high school students are seeing what it's like living in the real world, at least when it comes to money.
Making a budget and sticking to it is one thing many struggle with from month to month, with groceries, rent, transportation, and those unexpected expenses along the way.
That's why Vision Federal Credit Union partnered with Broome-Tioga BOCES to help local students get a better understanding what it's like budgeting a finite amount of money at the "Life is a Reality" program.
"Trying to figure out how things are going to cost you when you get outside in the real world and see how much is actually going to your expenses and you know, how you're going to budget and be smart instead of being loose with your money," said Newark Valley 12th grade student Shayne Bickham.
This is all happening at Broome-Tioga BOCES main campus in the Town of Dickinson.
The students start out with a set monthly income based on their potential career path, then they deduct what they could eventually pay for clothing, housing, and student loan payments among other expenses.
"Some of the things that surprised me were how fast your money actually goes." said Bickham. "You can start off with a $2000 budget, pay some bills and everything, next thing you know you're flat broke."
With graduation on the horizon for most of these high school students, the real world is waiting for them with open arms, bills, and expenses.
"Most of these kids are either going to choose the career path of going straight into the workforce or going to college," said Colleen Barton, Community Education Coordinator at Visions FCU. "Either way, they're entering adulthood and their going to have to manage their own money."
And part of the managing means accounting for unexpected costs.
Students spun a wheel that either deducted fund from their account or added to it, such as getting a flat tire or speeding ticket, or winning twenty dollars on a scratch off lottery ticket.
All in an effort to help students prepare for what the future holds financially.
"Keep working hard at it and be smart with your money," said Bickham. "Don't waste it all on simple things that you don't need and plan for the future, don't live for today."
Students from 12 different schools in the Southern Tier went to the event.
This is the 10th year Visions has partnered with Broome-Tioga BOCES to help educate students on their finances.