FOLSOM, Calif. – (March 30, 2021) – SAFE Credit Union financial educators will bring the credit union’s popular Bite of Reality fairs to Sacramento area high schools in April to celebrate Financial Literacy Month. For the first time, SAFE will offer the programs in a virtual environment.
“Fewer than 1 percent of California students receive any sort of financial education in schools,” says SAFE Credit Union Financial Wellness Manager Carrie Johnson, referencing a study by Next Gen Personal Finance. “This lack of financial education can lead to young adults learning from mistakes that can impact them for years. SAFE is excited to step in and fill this very real need for students to learn personal financial basics to prepare them for adulthood.”
Bite of Reality fairs are interactive simulations where participants receive a persona with a certain income, debt level, and family size. Participants are given a variety of real-world scenarios where they pay expenses such as rent or mortgage and make purchases including vehicles, furniture, food, and baby supplies. SAFE representatives help them with their budget and provide feedback to the students at the end of the simulation. The goal is to see whether students successfully budget their money, so they are not overdrawn and have some left over for savings.
“It’s exciting to see how engaged the students become during a Reality Fair,” Johnson says. “My favorite part is at the end when they share their ‘a-ha’ moments. One girl said she was never going to bug her mother about buying her new clothes ever again. Other students are surprised that their parents have to pay for electricity and gas. For many students, this is the first time they’ve really seen the kinds of financial decisions they’ll have to make as adults.”
SAFE is making a few changes to its Bite of Reality fairs in 2021. For the first time, SAFE is offering the program in a virtual format, and SAFE is extending the program to nonprofits who serve teens and young adults.
SAFE invites the media to cover any of the Bite of Reality fairs scheduled in April. Fairs scheduled so far are:
JUMA
April 8: 3-4:30 p.m.
Mesa Verde High School
April 12: 9:40-10:40 a.m. and 1:40-2:40 p.m.
Cordova High School
April 14: 8:30-9:30 a.m.
April 15: 9:30-10:30 a.m.
April 16: 10:40-11:40 a.m.
Inderkum High School
April 22: 3:30-4:30 p.m.
Bite of Reality fairs are part of a larger effort by SAFE to improve financial wellness of youths and the community. SAFE offers hands-on job experience and financial training to high school students through its High School Branch program at three high schools. It also offers a robust financial education program for the community through no-cost webinars on topics including managing credit, creating budgets, car loans, first-time homebuying, and living trusts.
For more about Bite of Reality fairs and SAFE’s outreach during Financial Literacy Month, please contact Ashley Tate at (916) 496-4067.
About SAFE
SAFE Credit Union has made members an integral part of its vision since 1940. Over the years the credit union has kept the focus on what really matters, putting members first, a formula that has seen SAFE grow into a leading financial institution in Northern California with $4 billion in assets and about 240,000 members. SAFE crafts every cutting-edge product and sterling service with members’ needs foremost in mind. In addition to banking services conveniently available through online, chat, mobile, or phone options, SAFE offers in-person care for members and small businesses at service centers across the Greater Sacramento region. SAFE is a not-for-profit, state-chartered credit union with membership open to businesses and individuals living or working in Sacramento, Placer, Yolo, El Dorado, Sutter, Butte, Nevada, Solano, San Joaquin, Contra Costa, Yuba, Amador, and Alameda counties. Insured by NCUA. www.safecu.org