Partnership teaches students financial literacy

//Partnership teaches students financial literacy

Video link originally posted on wlfi.com

Some local students are getting a hands-on lesson in financial literacy to better prepare them for adulthood. They’re doing it thanks to the help of a local bank.

Ann Morrow is introducing her seventh-grade students at Lafayette’s Central Catholic High School to a lesson they’ll eventually be using every day of their lives.

“They’re learning about financial literacy. It’s their first exposure,” Morrow said.

It’s a hands-on program all about money, how money comes and how it goes: budgeting, bills, emergency expenses, debt, savings and the decisions that affect it all.

“They’re experiencing needs and wants,” Morrow said. “What’s the difference in wanting something, a new car versus needing a new car.”

The program, called Banzai Financial Literacy, is offered at Central Catholic and at other schools for free from Purdue Federal Credit Union.

Purdue Federal Credit Union began offering this program years ago after starting to see people applying for their first car loan or mortgage and weren’t exactly in the best position.

“It’s really sad when we see they’ve kind of made some poor decisions along the way or almost really uninformed decisions that may limit their ability to get that car or to get that loan,” PFCU CEO Bob Falk said. “So we want to be able to get ahead of those and get out in front and teach our folks in the community, here are some things you should know about how this stuff works.”

Student Paul Schwartz says the program helps him plan for the real world.

“I think it just gives me a head start on how to know what to do so if I ever run into these problems in real life. I know that there could be consequences if I do it this way, and consequences the other way, and some of them could be worse than the other,” Schwartz said.

Students are receiving a lesson in life that, for many of us, can take a lifetime to learn.

The program is roughly about four weeks long and is offered to students from sixth to 12th grade.

By |2017-01-25T20:06:48+00:00April 29th, 2016|Tags: |