Engaging Young People through Financial Literacy
Financial Education Programs
The Southeastern Credit Union Foundation and the League of Southeastern Credit Unions are committed to teaching financial literacy to as many people as possible. Financial literacy empowers people with the information they need by helping them to understand how to live on a budget and manage their finances.
By using programs like the National Endowment for Financial Education’s High School Financial Planning Program (NEFE), Mad City Money Reality Fairs, seminars and workshops, the LSCU brings easily understandable, free financial education to teachers, students and adults across the Southeast.
The Foundation also offers the Financial Fitness Tournament.
Join in on the fun this year learning through Cash Hash! Here are the dates and topics:
01/24: Get off the pay day advance train, or don’t get on in the first place!
02/28: Movin’ on up…and out: Preparing to live on your own.
03/21: What’s the real deal…should I rent/lease or buy?
04/25: The secret sauce that makes up a credit score!
05/23: Don’t be a victim!
06/27: Car buying 101, knowing how to deal like the dealers!
07/25: Investing made easy, sort of.
08/23: Budgeting is NOT a 4 letter word!
09/26: Ready, set, CHARGE…but know the do’s and the don’ts!
10/24: College bound!
11/14: Be your own boss!
Financial Literacy Resources:
Money as you grow website now on the CFPB site:
- Handout for middle childhood financial education
- Activities for children aged 6-12
- Jumpstart Clearinghouse
NEFE’s Smart About Money (SAM)
- Have the family make a SMART goal for a vacation, or even the child’s birthday party using this worksheet (give parents talking points that when a child asks for a toy at the store that they can remind him/her about this goal and that they as a family are choosing to save their money for the goal rather than buy the toy)
- Use the mindful spending worksheet to have parents complete with their child to start the conversation about something the child might want for their birthday/holiday.
- Share this article on how to teach kids the value of money, which includes activities and conversations for different age groups.
- Budget resources
Online budget wizard
- Self-paced courses for parents to complete, or to do as a family with children, to learn money basics or to make specific financial decisions, such as making a family transportation plan.
Mad City Money Reality Fairs
Mad City Money is a hands-on, real-life simulation that gives young people the opportunity to experience their futures in a fun and exciting way. They are encouraged to make healthy and wise lifestyle choices similar to those that adults face on a daily basis.
During the simulation, students assume they are 25 years old and they are the primary or sole support of their household. They may work individually or with a partner (but if working with a partner, they must agree on all decisions). Some have children that they must consider in their decision making. After being assigned an occupation and monthly gross income, participants make routine deductions at a variety of life stations. Using sample checks and registers, they learn how to record and manage their bank accounts.
Mad City Money is an easy exercise for credit unions and chapters to provide for local students that will give them real-world experience with money. Financial education for young people is vital to their success in the future. Learning about money and economics is an important life skill. Contact Juli if you would like more information.
Financial Reality Fairs
Now, more than ever, young people need our help to learn how to skillfully plan a budget, save for the future and invest with confidence – before money management becomes a struggle. This is critical to their abilities to become financially healthy and fulfill their passions and goals.
In 2016, CUNA Mutual Group worked with the National Credit Union Foundation to deliver 20 Financial Reality Fairs for high school students across the country. The series resulted in 40 credit unions reaching 5,000 students in nine states. Through these fairs, students learned how to maintain and improve their financial health and experienced all of the opportunities and benefits credit unions can provide. The financial health and education of the next generation is an ongoing investment that we are committed to building. We’re continuing to engage and interact with young people to boost their financial literacy, and we hope our peers – credit unions, leagues, financial advisers, teachers and friends – will join us.
Help us reach new members by watching and sharing this financial literacy video, and then get involved by contacting the National Credit Union Foundation or your state credit union foundation to host a fair. Together, we can make a difference.
Reality Fair Volunteer Training
REAL Solutions® works with LSCU to provide credit unions the tools to make a difference in the financial lives of members, families and communities.
REAL Solutions builds member and consumer financial capability by offering toolkits for product development, credit union financial counseling certification, experiential learning programs (Reality Fairs, Retirement Fairs, and Life Simulations), planning/coaching, and speaking/training.
For more information, visit the National Credit Union Foundation website.