(Pictured above: First Financial staff members and students from the Jackson Academy of Business teach fellow students about the financial realities of life at Jackson Memorial High School).
Freehold, N.J. – First Financial Federal Credit Union held their first student run LIFE™ (Learning Independent Financial Education) financial reality fair events at both Jackson Liberty and Memorial High Schools with the Jackson Academy of Business (JAB) students. While the credit union has hosted financial reality fairs in the past, this fair was actually staffed by high school students, who sat behind each of the financial tables and worked with other students to help plan their financial future. Approximately 160 students at each school participated in this hands-on version of the “game of life,” during which they were required to make on-the-spot financial decisions.
The LIFE™ Fair consists of a full day hands-on experience where students, after identifying their career choice and starting salaries, are provided a budget sheet requiring them to live within their monthly salary while paying for basics such as housing, utilities, transportation, clothing, and food. Once the students visit all the booths, they balance their budget and sit down with a financial counselor to review their expenses and get a “financial reality check.” At the student run fairs, First Financial staff members worked at the financial review tables with each of the participating students to provide insight.
In regard to the school’s experience with their first ever student run LIFE™ Fair, Laurie Shupin, Jackson Liberty teacher and the high school’s JAB coordinator stated, “The students felt it was an excellent learning experience and became more knowledgeable of the subject matter as the day progressed. They are looking forward to more presentations and would love to extend it to the fall and spring semesters.” Laura Fecak, Jackson Memorial teacher and JAB coordinator stated, “The LIFE Fair was a great opportunity for all of our students involved. It was an eye opening experience for the Financial Literacy students that came through to get a dose of reality, connecting classroom concepts to real life situations. As well as, for the Jackson Academy of Business students that got to act as the sales representatives in a variety of situations (housing, transportation, technology, furniture, etc.).”
While the LIFE™ Fair was certainly full of temptations, the students had to spend their money wisely while being able to save and budget themselves for the future – while also enjoying everything life has to offer. First Financial President and CEO, Issa Stephan, concluded, “Our mission for our first student run LIFE™ Fair was to help the students understand the value of money and how to manage their money, so as they grow as an adult they’ll become more financially responsible. The student run fair was able to show the high school students even more about the financial realities of the real world. Our credit union puts a high priority on financial education, after all – that’s how First Financial began in 1936, with a group of schoolteachers in Asbury Park.”
(Pictured above: Jackson Liberty LIFE Fair).
Additional photos from the event can be seen on First Financial’s Facebook page. To inquire about or set-up a LIFE™ Fair for a Monmouth or Ocean County, NJ school or business – please contact the Business Development Department at firstname.lastname@example.org.