The Credit for Life Fair or Reality Fair is a proficient tool for empowering young adults with financial knowledge. The Credit for Life Fair is a hands-on model of realistic circumstances and it sets the highest of standards for students to resolve difficult financial decisions that they will be faced with as adults. The Financial Education Division of Massachusetts State Treasurer Tim Cahills Office administers a number of programs that are dedicated to teaching individuals to take personal responsibility for their money management. In particular, the Caution with Credit program encourages cities and towns to learn more about these fairs for the model shares the ultimate goal to protect young adults from acquiring unnecessary consumer debt and teaches how to maintain healthy credit lifestyles.
The Credit for Life Fair teaches students about the importance of credit, the impact of their spending decisions, and how to budget and manage their money through a fun and interactive exercise. Students are assigned a salary and will then make financial choices to work within their allotted budget. There are credit counselors and financial experts on hand to help guide the students and explain aspects of a household budget that they might not fully understand. This hands-on learning experience will better prepare students to make smart financial choices in the future.
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