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Financial Fitness FairsFounded in 2004, Maine credit unions introduced a new concept in youth financial education through Financial Fitness - A Money Management Experience. This half-day event targets high school juniors and seniors and is similar to the game of "LIFE," where participating students are given a career and monthly income and then have to visit booths associated with various expenses that the average adult is faced with each month. Costs, such as transportation, housing, clothing, food, student loans, insurance and several other everyday expenses, are filled in on a monthly budget form by each student. At the end of the event, the goal is for students to have monthly budget that does not exceed monthly income.
In 2008, Maine credit unions are holding four Financial Fitness - A Money Management Experience fairs across Maine:
- Wednesday, March 26 (Aroostook County) - Loring Job Corps Center, Limestone
- Wednesday, April 2 (Lewiston/Auburn) - Central Maine Community College, Auburn
- Thursday, April 17 (Augusta/Waterville) - Kennebec Valley Community College, Fairfield
- Thursday, May 22 (Eastern Maine) - University of Maine, Orono
Sample comments from fair participants:
"I never realized that managing money was so important. I'm so glad I had a chance to come today. When I go off to college in a year, what I learned today will give me a lot more confidence in how to budget." - Madawaska High School Junior, Age 16
"I have a much greater understanding for what my parents go through every month, trying to figure out how to pay all of the bills." - Oxford Hills High School Senior, Age 17
"This event opened my eyes. It costs a lot of money to live and this has caused me to re-evaluate my future career plans and to think about the importance of saving money." - Erskine Academy Senior, Age 19
"My respect for my mom in making our finances work has grown from attending this event. I will now think twice before giving her a hard time about not giving me money everytime I ask for it." - Brewer High School Senior, Age 18
For more information about participating and/or attending one of the 2008 Money Management Experience events, email Jon Paradise at the Maine Credit Union League or call him at (207) 773-5671, ext. 273.
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