The new program challenges high school students and young adults to manage budgets in real-life scenarios that simulate actual costs and expenses their families face every day.
FOLSOM, Calif., April 27, 2023 /PRNewswire-PRWeb/ -- While state legislators weigh requiring financial literacy curriculum in California high schools, SAFE Credit Union's financial education team is already focused on preparing teens to successfully budget as adults.
SAFE kicked off its new Budget Cents program during Financial Literacy Month. The "gamified" Budget Cents program challenges students to manage budgets during real-life scenarios – simulating the Sacramento area's actual costs and expenses.
"Financial literacy in general is going to be more important in the coming years as the conversation shifts to making this a requirement in schools," says SAFE Credit Union Financial Wellness Manager Hector Madueno. "Until that does occur, we want to deliver financial education to schools and be poised to help in the future wherever it's needed."
SAFE established its financial wellness team to fulfill the credit union cooperative principle of sharing profits within communities through financial education.
"What surprises students the most during the simulations without a doubt is how much things cost," Madueno says. "When we built this program, we looked at data for the Greater Sacramento area. So, when they are running through it, they're going to see actual housing costs. Actual transportation costs. The actual costs of food or dining out."
Students receive an income with regular expenses, including random costs they must fit into their financial plans.
"We have randomization elements occur throughout the game where students may have their budgets squared away, but then they encounter a broken windshield or maybe a flat tire," Madueno says.
SAFE recently facilitated the program for El Centro High School students at Sacramento County's Youth Detention Facility.
About SAFE
SAFE Credit Union is a not-for-profit, state-chartered credit union in Northern California with over $4.5 billion in assets and more than 245,000 members. Insured by NCUA. http://www.safecu.org.
Media Contact
Carole Ferguson, SAFE Credit Union, 916-836-6318, [email protected]
SOURCE SAFE Credit Union
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