SAVANNAH, Ga., July 16,
2024 /PRNewswire/ -- VyStar Credit Union held a
Reality Fair at Enmarket Arena Saturday,
July 13, from 9:00 am to 12:30
pm. This free large-scale simulation event was designed to
equip approximately 200 teenagers (ages 13–18) and their parents
with essential money management skills for real-world financial
challenges. Participants in the Reality Fair received a new
identity with a career, an income, a credit score, and instruction
on how to create a monthly budget. They then visited a variety of
booths where they were presented with real world monthly expenses
like housing, groceries, transportation and some unexpected events
like a broken dishwasher or an emergency room visit. The teen
participants had to figure out how to cut expenses or earn more
income to have money left over at the end of the month.
![VyStar Credit Union Logo (PRNewsfoto/VyStar Credit Union) VyStar Credit Union Logo (PRNewsfoto/VyStar Credit Union)](https://mma.prnewswire.com/media/2462494/VyStar_Logo.jpg)
The exercise generated eye-opening experiences about the
importance of budgeting, building emergency savings and
prioritizing needs over wants. "I learned that not everything is as
cheap as we might have thought it was as a teenager," said
Participant Zoe Daniels. "I'm learning how to budget my money
more." The Reality Fair is geared to teach teens that learning
financial planning now will help them for their future and it helps
parents have money conversations using these experiences.
Saturday's Reality Fair was one of hundreds facilitated over the
last decade in educational environments reaching thousands of
students as part of the credit union's Financial Fitness
educational programming aimed at empowering youth to enhance their
money skills.
Several area non-profit organizations that include financial
education in their programming brought members to participate in
the event. "We had about two dozen kids who came here today to take
part in this amazing event, and we are encouraging them to take
full advantage of the learning opportunity," said President of 100
Black Men of Savannah Harold
Ogelsby. "We find that not only are the younger individuals
lacking the knowledge but also the parents. So simple things like
how to balance your checkbook, the importance of having a good
budget, having an emergency fund and not only do the kids learn but
also the parents so it becomes a family and a generational change
in the way they practice their finances."
At the end of the simulation, the parents and teens participated
in a wrap-up discussion on how they navigated their assigned
scenarios. Teens shared it was often a challenge making decisions
about whether to buy a new or used car or covering their expenses
when they had spent money on extras like vacations and concert
tickets. "They had to make lifestyle choices based on their career,
their finances, and on their credit score," said VyStar Vice
President of School Programs Michael J.
Rathjen. "It is a great way for them to feel the peace that
comes with having those resources and making sound decisions or the
stress that comes with what many face of not having enough money to
make it through the month. It is a powerful way to bring the
learning to life."
In addition to interactive financial education events VyStar has
18 High School Branches to provide work-site experience and
internship opportunities to students. Through the in-school
programs VyStar has delivered financial education training to over
130,00 students to prepare youth for their financial future.
VyStar recognizes the importance of teaching students these
vital skills now, to set them up for success later in
life. VyStar representatives were on site to assist students
with opening a youth account to learn how to manage their money in
a safe way. All participating students also received two
ticket vouchers valid for Monster Jam coming up in September at
Enmarket Arena.
Click here to access interviews and download video of the event
for use.
To access the latest financial tools and resources for every
stage of life and a list of resources for students along with
future Financial Fitness events and initiatives go to
vystarcu.org.
VyStar Credit Union is the second-largest credit union
headquartered in Florida, with
over 80 branches and now serves more than 975,000 members with
assets of over $14 billion. VyStar is
the top mortgage lender in Northeast
Florida and a major employer in the region with over 2,500
employees across the communities it serves. VyStar membership is
open to everyone who lives or works in the 49 contiguous counties
of Central to North Florida, 29
Georgia counties, and past and
present military members and their families all over the world. For
more information, visit vystarcu.org, and follow us
on Facebook, Instagram, X
(Twitter), and LinkedIn.
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SOURCE VyStar Credit Union