Greater Nevada Credit Union offers lessons in managing a budget, dealing with surprise expenses and learn the value of money management
Adulting is tough. For many, money and finances can be some of the trickiest yet unavoidable parts of adulthood. While most adults know that money doesn’t grow on trees, it can be challenging to teach kids the important financial skills needed to set themselves up for success. To help parents teach their children the realities of managing a finite budget, Greater Nevada Credit Union (GNCU) will again be offering Bite of Reality, a virtual financial education program designed especially for teens ages 13 and over.
Designed to give teens hands-on experience with real-world budgeting, the one-hour virtual budgeting simulation takes students through what budgeting as an adult looks like with tasks to purchase housing, transportation, food, clothing, and other needs while also dealing with a few unexpected expenses. Participants will also get to interact with GNCU staff and ask questions throughout the free event, which will be from 3:30-4:30 p.m. Tuesday, Nov. 16.
“Financial education is a critical component of developing life-long skills that will lead to financial well-being,” said John Ahdunko, Vice President of Business Development at GNCU. “That is why Greater Nevada is proud to provide the Bite of Reality program. This highly interactive and fun simulation teaches teens and youth how to make greater financial decisions and better understand the challenges of living on a budget.”
Originally created by the Richard Myles Johnson (RMJ) Foundation, Bite of Reality is a hands-on simulation game designed to give youth a taste of real-world financial situations. Participants receive a fictional occupation, salary, family and other obligations such as student loan debt and medical insurance payments. Using the Bite of Reality app, they ‘purchase’ necessities including housing, transportation, food and childcare, as well as discretionary items such as entertainment.
Parents and youth can learn more about the virtual event and register on Greater Nevada Credit Union’s website. To learn more about Greater Nevada Credit Union, visit gncu.org.
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