HERNDON, Va. – Staff from Northwest Federal Credit Union and over 400 students of Herndon High School's senior class participated in a role-playing experience called "Reality Store" recently.
The program, now in its second year, is designed to help students understand and plan for the financial aspects of everyday life that will affect them over the next ten years (i.e., housing, children, taxes, student loans, etc.).
NWFCU sent 30 of its employees to lead the student groups and to guide them through the various hurdles of their financial plan.
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At the beginning of the exercise, each student received a "this is your life" scenario, which provided his or her martial status, gross annual income and number of children. Students then had to complete worksheets to determine their net income and design a budget to cover their basic monthly expenses while still leaving money for clothing, entertainment and unexpected expenses.
Reality Store proved to be an eye-opening experience for the students as well as the facilitators. "I think everyone who participated was shocked by the `reality' of the amount of money that it takes to survive with a family," said Kristin Shultz, controller for NWFCU.
Jim Hannon, Herndon High School's administrator for the class of 2007 noted, "When students start to understand just how much income goes toward groceries, rent or mortgage, utilities and all the other items involved in daily living the `reality' really hits home.It was truly a memorable program and I know many of our soon to be graduates benefited from the insight and advice that the folks from Northwest provided."
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