Richmond, Va. (2/7/12)--Virginia CU, with $2.2 billion in assets, Richmond, Va., recently hosted a financial education session for students who serve as Senate of Virginia pages and messengers.
Cherry Hedges (middle), financial education director for Virginia CU, works with two of the 34 Virginia Senate pages who participated in a financial education session offered by the credit union Jan. 30. (Photo provided by Virginia CU)
Cherry Hedges, Virginia Credit Union's financial education director, led the students through an hour-long presentation that included hands-on budgeting activities.
The students developed budgets based on the average income for several occupations. The students were randomly assigned careers, such as short-order cooks, child-care workers, legal secretaries, mail carriers, financial planners, physicians and others. The students considered the impact of careers on future-earning potential and learned to construct a realistic monthly budget based on the salaries they were assigned.
The lesson also included information about debit cards, credit cards, cash and checks. The students discussed opportunity cost and the importance of managing credit as adults.
The 34 students, most of whom were 13 or 14 years old, are in Richmond during the General Assembly session and serve the Senate clerk's office. The financial education session was one of several educational sessions offered while the General Assembly is in session.