Katie BaileyBite of Reality is an engaging, hands-on financial simulation that helps teens learn how to manage money in real-world scenarios. Hosted by credit unions across the country, this program gives young people a taste of what it’s like to juggle a budget, make financial decisions, and experience the unexpected challenges of adult life.
Bite of Reality immerses teens in financial decision-making by giving them a fictional life profile, including a job, salary, debt, and daily expenses like housing and transportation. They navigate a series of stations, where they must balance their budgets and make purchasing decisions – from buying a car to managing housing costs. The simulation even includes unexpected life events, mimicking the unpredictable nature of adult finances.
This engaging simulation helps teens:
- Learn basic money management skills, such as budgeting and distinguishing between needs and wants.
- Experience real-world financial challenges, including managing debt and unforeseen expenses.
- Get introduced to credit unions, seeing firsthand how we can assist with financial guidance and loans.
- Build financial confidence, with surveys showing significant improvements in financial behavior after participation.
Credit unions can get involved by hosting their own Bite of Reality event, by contacting Credit Union Impact Foundation. These events are a great way to connect with future generations of credit union members while helping teens gain confidence in their financial abilities. With no cost to the student participants, Bite of Reality is a free and accessible program that benefits everyone involved.
We encourage all credit unions to consider how they can bring this valuable experience to their communities.
