LANSING, Mich. — More than 100 Perry High School sophomores received a dose of financial reality at an event organized by LAFCU.
The two-hour Financial Reality Fair simulated one month of independent adult living. Students chose a career and were informed of their salary and assigned a credit score. Next they identified purchases of goods and services, and borrowed and saved at a mock credit union. They then balanced their budget and visited a financial counselor to explore ways to improve their financial future.
“The concepts taught through the Financial Reality Fair are enthusiastically endorsed by the Perry community,” said Mike Foster, Perry Public Schools superintendent. “These are the practical things students learn in school, which do not show up on standardized tests but rather show up on the ‘test of life.’"
The fair was presented with help from the Michigan Credit Union Foundation. The MCUF provided materials and training designed to have a lasting impact on the financial understanding of participating teens.
“This activity illuminated things the students had not considered,” said Jamie Antcliff, LAFCU Owosso and Corunna branch assistant manager. “For instance, some were surprised by car expenses beyond the purchase cost, such as insurance, gas and maintenance.”
Antcliff, who coordinated the fair with Alyssa Sliger, LAFCU marketing and communications specialist, said some students gained a new appreciation for what their parents have provided and the decisions they have made with regard to finances.
More than 30 volunteers assisted with the event including LAFCU representatives, Perry High School teachers, principal and National Honor Society students, and Mike Foster, Perry Public Schools superintendent.
The fair is an extension of the LAFCU-Perry Public Schools partnership forged in 2014. It includes programming for all students. Piggy banks and stickers provide learning lessons for elementary school students, and portable branches operated in school buildings with assistance from Perry students help older students understand personal finance.
“Our goal is to help students learn useful, real-life skills in a safe environment that will prepare them to succeed financially in the real world,” Antcliff said.
At right, among those who facilitated the Financial Reality Fair at Perry High School are, from left, LAFCU’s Kelli Ellsworth Etchison, senior vice president of marketing, Jamie Antcliff, Owosso and Corunna branch assistant manager, and Angie Ruzinsky, regional vice president; and Perry Public Schools Superintendent Mike Foster.