AT THE FOOD BOOTH, Betsy Sibley, left, of Community Credit Union, helps students figure out their food budget at the annual Financial Fitness Fair held recently at the Lewiston Armory. Nearly 200 students from seven area high schools from the Lewiston/Auburn and Bath/Brunswick areas participated.
Nearly 200 students from seven area high schools attended this year’s fair, the state’s oldest Financial Fitness Fair, including: Lewiston High School, St. Dominic Regional High School, Monmouth Academy, Oak Hill High School, Lisbon High School, Brunswick High School and Edward Little High School.
The day, which can be compared to an interactive “game of life,” builds awareness for youth education and for credit unions’ dedication to financial literacy in their communities.
The Financial Fitness Money Management Experience is a half-day event during which students will check in and receive a scenario packet of their life at age 22, which includes their occupations, income and credit history. From there, students have to map out their financial future, from financing their housing to purchasing food and clothing.
Student feedback
Feedback from students participating in the event was overwhelmingly positive. One student said, “Managing money is hard work but I really feel like I have a better understanding because I was here today.” Another student said the “importance of credit was something I had no idea about. A bad credit score is not something I ever want to have.”
Jon Paradise, Governmental and Public Affairs manager for the Maine Credit Union League, said the experience is an effort to help students understand the importance of making smart financial decision at any age.
“With these students having heard a lot said on the troubled economy in the last few years, this event actually gives them the opportunity to better prepare themselves by truly understanding the importance of being financially fit,” he said. “These students are preparing to enter the real world, be it through applying to college or joining the work force. In order to be successful, it is necessary to have a strong understanding of money and how to spend and save. The interactive nature of this event gives them a hands-on way to gain these important skills.”
Representatives from Atlantic Regional FCU, Five County CU, Lisbon Community FCU, Midcoast FCU, Central Maine FCU, Community CU, Great Falls FCU, Lewiston Municipal FCU, Maine Family FCU, Monmouth FCU, Otis FCU, Oxford FCU, Rainbow FCU, Sabattus Regional CU and the Maine Credit Union League helped to organize the event.
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