During the month of April, credit unions across the country are coming together to celebrate National Credit Union Youth Month and National Financial Literacy Month. To mark the occasion, the Richard Myles Johnson (RMJ) Foundation — California and Nevada’s Credit Union’s financial literacy partner — is hosting 52 Bite of Reality® events nationwide. Of those, 33 will take place in California and Nevada.
Bite of Reality is an award-winning, hands-on simulation that helps teens practice financial decision-making and better understand the challenges and importance of financial responsibility. Credit unions are partnered with local schools or other groups such as nonprofits and after-school programs, where students are assigned a fictional job, salary, credit score, and family and financial scenarios, including a spouse, child, student loan debt, credit card debt, and insurance costs. Along the way, they’ll encounter real-life situations, like working with a pushy car salesperson or a commission-based realtor, and balancing wants versus needs. There’s even a “Fickle Finger of Fate” that introduces unexpected expenses or windfalls — just like in real life. The experience also includes a “credit union” station where students can get guidance and support, highlighting the important role credit unions play in helping people manage their finances.
Since January, Bite of Reality has reached more than 27,000 students across the country, including over 10,000 in California and Nevada. Since the program’s inception, more than 400,000 youth have gone through the program.
“Financial literacy is one of the most important tools we can give young people,” said Tena Lozano, RMJ Foundation’s executive director. “Through Bite of Reality, students don’t just learn about money, they experience the impact of their choices in a safe, supportive environment.”
The Bite of Reality app is currently undergoing a major user interface update, expected to be completed in time for the upcoming school year. The refresh will include updated graphics and improved functionality, bringing the platform up to modern standards.
In addition to the RMJ Foundation, 28 credit unions and state credit union foundations across the country currently use the Bite of Reality app in their reality fairs. If your credit union would like more information or schedule a Bite of Reality event, contact Jenn Lucas at info@rmjfoundation.org.
