LIMESTONE — Nearly 400 high school students had the opportunity to get a glimpse of their potential financial future at a Financial Fitness Money Management Experience event, held March 25, at the Loring Job Corps Center in Limestone. This is the sixth year the event has been held in Maine and the second time it has been held in Aroostook County. It was the largest Financial Fitness Fair ever held in the state.
Contributed photo
Nearly 400 caught a glimpse of their potential financial future at a Financial Fitness Money Management Experience event, held March 25, at the Loring Job Corps Center.
Attendees included high school students from Ashland, Caribou, Central Aroostook High School, Easton, Fort Fairfield, Van Buren, Limestone, Washburn, Presque Isle High, Madawaska, Fort Kent, Wisdom, Loring Job Corps, Greater Houlton Christian Academy, Houlton, Hodgdon, East Grand and the Carleton Project.
The Financial Fitness Money Management Experience was created to address the growing need for increased financial literacy in Maine schools and the lack of understanding that many teens experience with regard to their personal finances. The half-day event is unique because it allows students to consider a serious issue in a fun way. Students are asked to participate in an interactive ‘game of life,’ in which they map out what their financial future would be at the age of 22, according to a scenario packet that they receive, which determines their occupation, income and credit history. Students then have the task of creating a ‘Spending Plan’ according to their income and expenses.
The students came away with a better understanding of the financial challenges that they may face in the future. “Today I learned that credit is something that you have to be very careful with, and how important it is to save,” one student remarked. Another participant said, “I realized how expensive things really are, and that when you are starting out you can’t always buy what you want, but should save so you can afford things later on.”
“Financial Literacy is so important, especially at this time of year, when students are nearing graduation and getting ready to get out into the ‘real world,’” remarked Dan Bagley of the County FCU, who helped to organize this year’s Fair. “Maine’s credit unions are proud to be part of the educational process and to once again be presenting this program that has proven to be very popular with students. Our goal is not only to educate participants of the Financial Fitness Money Management Experience, but also to make it enjoyable for them to learn.”
Representatives from the Aroostook Chapter of Credit Unions, the Maine Credit Union League and Loring Job Corps have helped to organize the Financial Fitness Money Management Experience. The event also served as a preview of the month ahead, as Gov. Baldacci has again proclaimed April as “Financial Literacy for Youth” month, a proclamation that praises the efforts of Maine’s credit unions on behalf youth financial education.
Due to these efforts, Maine’s credit unions have received five consecutive national awards for youth financial education.
