SANDPOINT — Last Friday, the community came together to offer high school seniors a simulative experience that many volunteers described as a “real life Game of Life.”

The event, held Oct. 6, marks Lake Pend Oreille School District’s 10th annual Finance Fair. Around 260 students from across the district's high schools joined in on the activities, which took place at North Summit Church.

Prior to the simulation, called “My Life, My Money,” students are given a workbook that allows them to organize their money into different categories such as “my electronics,” “my kid” or “my closet.” They are also given personas on “about me” cards that determine their occupation, relationship status, number and age of kids, salary and current financial situations. The event is designed to gives students a practice run in financial responsibility before they’re launched into real world budgeting

At the event, students visit “merchants,” many of whom represented real life local businesses. STCU hosted a banking station where students could seek advice from a financial advisor or learn how to manage acquired debt. Yoke’s Fresh Market hosted a “my food” table where students determined the most suitable dining package for their lifestyle, which in turn determined how much the student needed to budget for food. At the food station, Yoke’s also provided name brand snacks next to generic brands for students to test and compare. After trying the “Crav’n Flavor” wheat crackers, many decided it would be worth saving a dollar by purchasing those instead of Wheat Thins.

The “my car” station was hosted by Taylor and Sons Chevrolet, and the “my house” station was hosted by Selkirk Association of Realtors. Other local groups that made the fair possible include Horizon Credit Union, North Summit Church, Sandpoint High School, Larson’s, Panhandle Alliance for Education, Super 1 Foods, Taylor and Sons Chevrolet, North 40 Outfitters, and the Community Assistance League.

Students are also given “luck cards” that may present unexpected financial setbacks like a flat tire or car accident. Some luck cards present positive situations that may improve the individual’s financial success.

Just like in the real world, merchants tried to upsell the students to make things more realistic, one volunteer said. Many realized the consequences of their financial decisions a few stations in, and determined that they would need to be more cautious with their decisions when interacting with other merchants.

"Even though I had fun, it really makes you realize how much things cost and how much you have to think ahead before you purchase something,” student Alandra Doran said. “For example, I had purchased my food plan [and] my house, but I wasn't as cautious as I could have been with my money, so when I had to pay for my kid's expenses, it ran me so low. I eventually didn't have enough money to buy good vehicles and I had to budget the rest of my money so I didn't go into debt."

Another student said the fair helped him realize that as an adult, you have to decide which things you want to prioritize in regard to quality, and which things are still worth the less expensive version.

"I was surprised that there are so many expenses you have to account for that I never realized,” student Evan Schwenk said. “This event also made me really think about what kind of items I want to purchase as an adult. I learned in life you have to assess what quality of things you want to own. For example, after attending the Finance Fair, I have seen the merit in purchasing recycled items such as used furniture and a used car. You definitely do not have to have everything brand new."

Once their workbook is complete, students submit their work for an “IRS audit” that examines how engaged they were throughout the event. Attendees also had the chance to participate in a finance based game show hosted by STCU.

Jeralyn Mire, post-secondary transition counselor at Sandpoint High School, said she is always impressed by how businesses, nonprofits, and local groups collaborate to make the finance fair possible.

“It’s a community event,” Mire said. “So many community groups contribute funding, contribute prizes, volunteer their time and volunteer their workers — and I think that’s what makes our finance fair so special.”