Community Outreach Education Coordinator of Directions Credit Union Jennifer Paramore spoke at the Ontario Growth Association (OGA) meeting on Thursday morning about a program called the Reality Store.
“Business programs that work with the Reality Store Program need a pat on the back. It is a great program and without these people the Reality Store wouldn’t exist,” said Paramore.
Paramore explained that the Reality Store was developed by Crystal Escalera, a guidance councilor at Pioneer Career and Vocational Center, who traveled to Kentucky when she heard about a program that was similar to the Reality Store.
“She went and observed this program. When she came back, she wrote this wonderful program called the Reality Store,” said Paramore.
The Reality Store was created for eighth-graders, but Paramore said that the program can be used with all different ages of children who are older than that of eighth-graders. “Through this program we want them to understand how important it is to always continue to educate yourself,” said Paramore.
To participate in the Reality Store, students are assigned jobs. Paramore said that schools have different ways of choosing what types of jobs the students will be assigned to.
“Some schools let the kids pick their jobs at random and some schools use testing scores as a way to match the student up with a job, said Paramore. “Other schools let the kids pick a certain field of study or work that is interesting to them.”
During the Reality Store, students receive a paycheck and the paycheck reveals their income. They also receive 10 percent automatically for 401K to emphasize the importance of saving for their future.
Students are also assigned an unemployed spouse and have the possibility of having between zero and four children. If the student went to college, they are assigned student loan debt and Paramore revealed that every student is assigned credit card debt. “We want to discuss the importance of not having a lot of credit card debt and the importance of paying your credit card debt off as soon as possible,” said Paramore.
On the day of the Reality Store, community businesses attend and station the tables of the different areas that students must purchase from. “The businesses are the ones that make the Reality Store happen, without their help this wouldn’t be possible. The kids have the opportunity to interact with these businesses and to me that is the single most important part of this is that the kids can see the benefit with being part of the community,” said Paramore.
Students first deposit a “paycheck” at the Reality Store. The students are encouraged to deposit 10 percent of what they earn into their savings account. Then they go on to purchase cars, homes, food and other needs.
The goal of the Reality Store is to assist students in being financially responsible for their futures. “The impact that the Reality Store has on kids is very important and there is such a positive influence that the Reality Store has on kids,” said Paramore.
A number of area schools participate host Reality Stores and local businesses are encouraged to participate: financial institutes, realtors, car dealerships, grocery stores, law enforcement, child care, etc.
To learn more, contact Paramore at 419-526-7862 or email her at jparamore@directionscu.org or Tina Wilson at twilson@directionscu.org.
“The businesses are the ones that make the Reality Store happen, without their help this wouldn’t be possible. The kids have the opportunity to interact with these businesses and to me that is the single most important part of this is that the kids can see the benefit with being part of the community,” said Jennifer Paramore.
