A recent guest visitor to the Altmar-Parish-Williamstown Junior/Senior High School had students thinking about a different form of fitness, financial fitness.
Cheryl Welles, Director of Community Relations at Empower Federal Credit Union spent two days at the school speaking to seventh grade students in the Family and Consumer Science class about budgeting, lending, loans, and credit.
On day one of the visit, Ms. Welles’ presentation included a discussion about using credit responsibly and making wise financial decisions. She also talked about the process of lending and loans, and helped the students understand how interest rates and a repayment terms can impact the bottom line of a loan as well as what happens if a person defaults on a loan.
On day two of the visit, she gave students a budgeting exercise and explored the idea of financial stability and success. Students were grouped into families and given a real-life financial scenario – careers, children, a home, vehicle(s) and more. Using a spreadsheet each group tracked their family’s income versus expenses and explored ways to save money, change spending habits, and manage their money more responsibly.
The Empower visit was held in conjunction with a money management unit in the Family and Consumer Science class were students learned about managing personal resources.
Teacher Sybil Ruffels introduced the five seventh grade classes to checks, balances, and banking and each student opened a mock checking account to utilize during classroom activities and exercises where the gained experience in how to write a check, deposit money into an account, record transactions in a ledger, and balance a checking account.