Forty percent of Americans can’t come up with $400 in case of an emergency.

Seventy-eight percent of Americans live paycheck to paycheck.

Although alarming, these statistics are a powerful reminder of the need to educate the nation’s younger generation on real-world financial decision-making.

Over the last 20 years, MMAC member Educators Credit Union has helped prepare thousands of students across southeastern Wisconsin to make informed financial decisions through a fun, interactive simulation called “Reality Check.”

“Reality Check” is an in-person experience that enables students to make real-life financial decisions without any of the scary real-life consequences. Powered through a mobile app, each student picks a career, learns how to budget, makes credit card payments and practices saving for retirement. While navigating the app, students move to different “life stations” run by the Educators Credit Union team and community volunteers. At each station, they can enter codes into the app to make purchases related to housing, transportation, personal care and more.

“‘Reality Check’ isn’t just a one-day simulation,” said Victor Frasher, the Director of Community Engagement at Educators Credit Union. “It’s our long-term commitment to equipping young people with the real-world financial knowledge, confidence and decision-making skills they need to thrive for a lifetime.”

Last week, 21 schools across Milwaukee Public Schools participated in Reality Check at UW-Milwaukee’s Student Union.

“I feel like [Reality Check] is going to give us a better way of how to work with money…and how to stretch your money so that you can pay for everything you need when you’re an adult,” said Julianna Piraino, a ninth-grade student at Ronald Reagan High School.

Students move through the simulation at their own pace and come together as a large group at the end to discuss their experience and the challenges that can arise when making real-life financial decisions.

Last week’s “Reality Check” was one of approximately 30-40 simulations held annually. Educators Credit Union’s next simulation will take place on April 22 at Reuther Central High School.

Visit https://www.ecu.com/ to learn more about Educators Credit Union.