Students Take a "Bite of Reality"

SAN BERNARDINO>> Ninth-graders from various San Bernardino High Schools recently got a “bite of reality” when they attended an interactive financial education simulation designed to teach them how to manage money. The March 23 Bite of Reality event held at California State University, San Bernardino was run by staff from San Bernardino-based Thinkwise Credit Union, who all volunteered their time for the event. The students are part of GearUp, also known as Gaining Early Awareness and Readiness for Undergraduate Programs, a U.S. Department of Education program which provides federal funding for state and partnership grants to help increase the number of low-income middle and high school students who are prepared to enter and succeed in post-secondary education. The Bite of Reality program is offered by the Richard Myles Johnson Foundation, the state foundation for credit unions in California and Nevada. At the start, each student — via an app on cell phones or tablets — received a persona complete with occupation, salary, spouse and family, student loan debt, credit card debt, and medical insurance payments. After they learned what their monthly income was, they went shopping, “purchasing” items such as housing, transportation, food, clothing, household necessities, and daycare. The event aims to teach young people the basics of finance by having them take a “real world” test drive complete with a job, money, and the freedom to make their own financial decisions. Throughout the event, they dealt with pushy salespeople who were played by Thinkwise CU employees and GearUp program staff. When some overspent, those staffing the "credit union" station provided much-needed assistance. “I have $150 left,” said Arroyo Valley High School student Lizbeth Cruz, 14, to her friend, Cindy Alvarez, also 14. Both were at the Groceries and Dining table when Lizbeth’s app showed she had been hit by the “Fickle Finger of Fate” and an unexpected expense. All of a sudden, she was down to just $15. She fell to the floor in disbelief and laughter. Fortunately, a trip to the credit union helped make the situation better so she could afford groceries. Arroyo Valley High School student Hoyuky Martinez, 15, was surprised by how much money she could spend. She learned she needed to be wise in spending, especially in light of the pushy salesmen. “They keep trying to get me to spend more. And it’s killing me because it’s so tempting,” she said. Cajon High School student Jose Trejo, 14, found the event to be a wake-up call. “It gives you an idea of real life, and how to manage your money in order to survive in society,” Trejo said. This taste of reality is exactly what RMJ Foundation Executive Director Tena Lozano hopes young people take away from the Bite of Reality program. “We want the Bite of Reality program to provide a no-risk environment in which kids can learn the consequences of various financial options out there—such as whether to buy a luxury car or a small sedan— so that when faced with these situations as adults, they can make good choices,” Lozano said. Thinkwise CU CEO Kevin Posey agrees: “The Bite of Reality program is such a wonderful and unique learning opportunity for students. The simulation challenges students to make real life decisions that adults make every day. At the GearUp event, I had several students who came to me already knowing which pushy salespeople had oversold them. The opportunity to share such teachable moments is what makes the Bite of Reality simulation so valuable. We look forward to delivering this experience to more students in our community.”