GENOA - Rent, groceries and medical bills are all things that can take a chunk out of your wallet.

On Wednesday, Twin River Public Schools hosted seniors from five different school districts at their finance fair.

“In the spring, we saw that a school in Oklahoma was doing a finance fair and it looked amazing," said business teacher Mindi Reardon.  "So we decided ‘hey, what not do that here?’”

It's the first such event Twin River has hosted.

Students are faced with scenarios over how much money they get to spend.  They go to different stations representing services and expenses and try to budget accordingly.

“Your hot water heater goes out or your car needs new brakes or new tires, those types of things that are unexpected," Reardon said.  "Plus, on the entertainment end where ‘hey, my friends are going out to the movies.  Do I have the money to do that?’”

“There’s also optional expenses, which is like getting a hair cut or buying clothes," said Twin River senior Irelynd Pearson.  "So it really shows students what they need to spend their money on when it comes to needs versus wants.”

Pearson said she appreciates her school providing this opportunity to learn about finances.

"Teachers teach us life skills and stuff, but we don’t actually get to see the numbers and how much things actually cost on a daily basis like we do today,” she said.

Organizers said they hope this helps kids avoid getting into debt before they've even started their adult lives.