Students get financial reality check - KYTX CBS 19 Tyler Longview News Weather Sports

Students get financial reality check

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LONGVIEW/GREGG COUNTY (KYTX) - Students were  definitely given a reality check in today's financial reality fair. The students had to walk through a simulation of real life expenses and experiences that will teach  them about budgeting their finances, for some, it wasn't so easy.

  Earlier in the school year students at Pine Tree Junior High were told to choose a career.
 "I chose to be a veterinarian."
   Paying 7th grader Mikayla Wallin  $60,000 a year, which comes to about $5,000 a month.
  In a reality fair, like this one - Mikayla has to budget that money.
 "$5,000 is not as much as it seems after all of the taxes and electricity money and cell phone and all that stuff."
Going from booth to booth paying for housing, utilities, transportation, clothes and food, forcing Mikalya and many of her classmates to weigh their wants against their needs.
"I bought a horse and that was $750 and then I went back and shared a Lab with my roommate."
  A decision Telco Credit Plus Rep. Ariana bond says she's seeing from a lot of the students, especially in the electronics station.
 "They don't realize that their iPhones cost $300 or more, so many of them are asking can they buy a Track Phone or a Go Phone." 
  In today's financial reality check, students were given the chance to spin the Wheel of Reality  because things just happen in life. You could get lucky and win the lottery for up to $1,000 or have to deal with $650 worth of car repairs. Lets test my luck....Woo! looks like I won the lottery!
  7th grader Freddy Daniels wasn't so lucky.
 "I lost my cell phone and had to pay $200 for it...that was hard."
   Freddy decided to be a cartoonist -  making $2400 a month. After a little budgeting, he realized some of his wants had to go.
 "My TV, my car and my pet...(you had to take your car back)...yes...(how did you get to work) I rode a bike."
    Saying it's not as easy as mom and dad make it look.
 "I thought that we had all the money in the world at first and now it's like the money just doesn't land in our house now."

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