April 8, 2008 The second of four Financial Fitness - Money Management Experience events was held for Maine high school students, most recently, in Lewiston/Auburn, where the first event was held in 2004. Created and coordinated by Maine's credit unions, this year's event was held on Wednesday, April 2, at Central Maine Community College in Auburn. This marked the fifth consecutive year that this event has been held in the Lewiston/Auburn area.
In attendance were nearly 150 students from eight area high schools: Elan High School, Brunswick High School, Poland High School, St. Dominic Regional High School, Edward Little High School, Oxford Christian Academy, Leavitt High School and Monmouth High School.
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 learn about a serious topic in a fun and challenging 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, based on 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.
"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 Jon Paradise, Governmental and Public Affairs Manager for the Maine Credit Union League and Master of Ceremonies for the day. "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."
Feedback from participants was again consistently positive with students making comments like, "I am going to rethink my career path because I need to make enough money to have options available on where I can live. This fair was a real eye-opener," and "I really didn?t know what to expect but was pleasantly surprised. I learned a lot and I am going to have a conversation with my parents tonight to help me better understand our own family budget." A participating teacher was equally impressed noting, "What credit unions are doing with this event is such a service to students. I will certainly be back next year with even more students."
Representatives from the Norm Nolette Chapter of Credit Unions, which is comprised of the following credit unions (listed alphabetically): Central Maine FCU, Community CU, Great Falls FCU, Lewiston Municipal FCU, Maine Family FCU, Monmouth FCU, Otis FCU, Oxford FCU, Rainbow FCU, RCH FCU, and Sabattus Regional CU, the Maine Credit Union League, and Central Maine Community College all contributed to organizing and coordinating this year's event.
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