Students get financial reality check

Desco Federal Credit Union gave 633 students a chance to understand the financial responsibility their parents face each day during the credit union’s Financial Reality Fair held in nine different schools in Scioto County. Schools participating were Minford, Wheelersburg, Green, Portsmouth, West Portsmouth, Portsmouth East, Valley, Notre Dame and South Webster.

The fairs were supported by area businesses, teachers, parents and volunteers. Students experienced what it is like to manage a day-to-day budget, and what they discovered made them realize that being a teen living at home isn’t that bad.

During the Financial Reality Fair, several students were assigned an occupation, while others picked jobs they wanted and given salaries associated with that job. The students had to create a budget and manage expenses for housing, utilities, food, clothing, vehicle, insurance, phone, entertainment and other things, including a pet, if they wanted to own one.

The students visited various stations and were made aware of the monthly expenses that are incurred when they live independently. The fair also included an acting collection officer present to meet with those who found themselves in hypothetical financial difficulty, revealing a possible real-life situation that occurs if they misjudge their everyday expenditures and get hit with an unforeseen amount that keeps them from making their regular monthly payments.

A part-time job option station was available to offer students with stressed incomes some relief with extra pay to supplement their regular salary. They also learned the importance of saving money and being prepared for an emergency. Charitable organizations, like the Scioto Foundation, helped students realize the value of helping others.

As a result of the fair, the students realized the importance of getting a good education, obtaining a favorable job, maintaining a healthy budget, paying bills on time and keeping a reliable savings.

Contact Desco Federal Credit Union at 800-488-0746 or, or visit

DESCO serves communities with financial services in Portsmouth, Minford, Wheelersburg, and Ironton, Ohio; Ashland, Ky.; and Huntington, W.Va. All accounts are federally insured by the NCUA up to $250,000, with an additional $250,000 of excess deposit insurance provided by American Share Insurance, the nation’s largest private deposit insurer.