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Conn. CUs sponsor youth financial reality fair
BRIDGEPORT, Conn. (4/26/10)--Local and state politicians joined high school students in the third Financial Reality Fair sponsored by Connecticut credit unions this spring. The fair is an exercise in financial reality that young people need to experience for successful transition from school and familial
Click to view larger image Bridgeport, Conn., Mayor William Finch, (left) with constituent students at a Financial Reality Fair’s “Wheel of Reality” when student spinners learn if they receive a windfall or an unexpected expense for their budgets. Students spin the wheel as part of working out a hypothetical monthly budget based on their career choice.
dependence to independent adult living on their own, said the Connecticut Credit Union Association (CTCUA). Nearly 300 students from seven high schools in the Bridgeport, Conn., area gathered at Housatonic Community College to move from booth to booth making decisions about adult life choices such as housing, transportation, clothing, food, and social amenities all on a projected monthly budget based on their career choice. Connecticut State Rep. Theresa Conroy (D-105th) and Bridgeport Mayor William Finch assisted students from constituent schools at the Wheel of Reality, a spinning assortment of windfalls and unexpected expenses that illustrate how life can reward or penalize-- often by chance. Dozens of volunteers from 19 credit unions and related businesses
Connecticut State Rep. Theresa Conroy (D-105), left, watches as Nick, Ansonia High School senior, spins the ‘Wheel of Reality’ at a Financial Reality Fair held at Housatonic Community College. Students spin the wheel as part of working out a hypothetical monthly budget to learn if they receive a windfall or an unexpected expense. (Photos provided by the Connecticut Credit Union Association)
managed the booths, offering advice and temptations along with the choices, after which students met with financial counselors to see how well they did or did not manage their budgets. “This is an outstanding opportunity for the students,” said Conroy. Mayor Finch added: “It’s a great start on their way to learning to manage their money wisely.” Connecticut credit unions are completing their second year of offering Financial Reality Fairs statewide as part of a commitment to foster financial literacy among youth. The Housatonic Community College Business Department partnered with Connecticut credit unions and donated the space for the fair.
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