Few things are certain in life – but paying bills is one. Graduating seniors at Kenai Central High School were exposed to that reality last week through a program that places them in expected – and unexpected – financial situations.
At one table, a colorful plastic wheel dubbed the “Wheel of Reality” was loaded with financial burdens, like unexpected car repairs or medical bills. It was one of about a dozen financial exercises the group of seniors were put through at Kenai Central’s annual Get Real Financial Reality Fair.
“Those are expenses that they have to deal with sometime coming up in their life,” said KCHS principal Daniel Beck, who says the exercise is like the board game “Life.” He says it helps students realize that their time relying on mom and dad may soon be over.
“At some point, their resources are going to be limited to what they earn and how hard they work for it,” Beck said.
The reality check event brings together financial advisors, teachers and parents to help students formulate an adult budget. They account for expenses like medical insurance, mortgage or rent payments and entertainment purchases.
Senior Sarah Baisden never realized until participating in the exercise how small financial moves could have spillover effects. To save money for entertainment, like concerts, she opted for a less comprehensive health insurance plan. She says that was a mistake.
“I got bad insurance, and then two seconds later, I had an accident and I had to pay a bunch of money," Baisden said. "I didn't realize, like, how much goes into all these little details about life, like, I didn't know.”
Baisden’s also the mother of three children in the exercise. She says that’s made budgeting a real challenge. She was also shocked by the general cost of living, especially for things like streaming services.
“I would say it gives me more respect for my parents, because I didn't realize how many things that they're really doing," Baisden said. "Like, my Netflix and Disney+, they're paying like $50 a month for that. I had no idea.”
“It's an awareness, and for most of them, a realization that this is coming soon," said Renee Ryback, Kenai Peninsula Area Vice President of Global Credit Union. She helped organize the event.
"Whether they're going to go to college, they still have to budget, whether they're going to get a job, go to trade school, wherever they go in life, they're gonna have to do some kind of budgeting,” Ryback said.
She says the exercise makes for a more financially knowledgeable community. And they’ve expanded the program to other schools.
