Businesses and Nonprofits Hold First Reality Fair with Federal Reserve to Educate Young Americans on Financial Literacy

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A collaborative effort among American Consumer Credit Counseling (ACCC), Leader Bank and the Federal Reserve, this event teaches young students valuable money management skills for the real world.

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"Many of today’s teens are unfamiliar with basic money management skills and often overlook some of the realities of living independently such as the cost of rent, utilities and transportation."

Boston-based nonprofit American Consumer Credit Counseling partnered with the Federal Reserve and Leader Bank to host the Federal Reserve’s first Reality Fair for young students last week. The fair addressed the dire need for financial education for students in Massachusetts and teach students about critical budgeting and money management skills. During the fair, students engaged in lectures, teamwork stations, and discussions. They also had the unique opportunity to learn about spending, budgeting, and managing their finances, based on future career choices and lifestyle decisions.

“Many of today’s teens are unfamiliar with basic money management skills and often overlook some of the realities of living independently such as the cost of rent, utilities and transportation,” said Matthew Paradise, Chairman of the Boston Reality Fair Committee. “Our goal is to educate students to avoid unnecessary financial mistakes and to empower them to develop positive financial behaviors.”

The daylong event began with an opening remarks by Paradise. Teams of students then moved throughout the Fair visiting each “station” or table as a group, discussing and making decisions regarding a specific budget item. Expert matter specialists from ACCC, Leader Bank and the Federal Reserve were stationed to guide discussion and assist students in making their budget decisions.

This workshop is one of several Reality Fairs held throughout the Commonwealth each year and is part of an ongoing effort to teach young Americans about the realities of money management, debt, credit cards and ultimately the consequences of developing bad spending habits.

ACCC is a 501(c)3 organization, that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:

  •     For credit counseling call 800-769-3571
  •     For bankruptcy counseling. call 866-826-6924
  •     For housing counseling, call 866-826-7180
  •     Or visit us online at ConsumerCredit.com

About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management and debt relief through education, credit counseling, and debt management solutions. ACCC provides individuals with practical debt solutions for solving financial problems and recognizes that consumers’ financial difficulties are often not the result of poor spending habits, but more frequently from extenuating circumstances beyond their control. As one of the nation’s leading providers of financial education and credit counseling services, ACCC’s certified credit advisors work with consumers to help them determine the best plan of action to get out of debt and regain financial stability. ACCC holds an A+ rating with the Better Business Bureau and is a member of the Association of Independent Consumer Credit Counseling Agencies. For more information or to access free financial education resources, log on to ConsumerCredit.com or visit TalkingCentsBlog.com.

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Krista Robinson
American Consumer Credit Counseling
+1 617-646-1028
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