MEXICO, Maine - Oxford Federal Credit Union gave nearly 200 Oxford Hills Comprehensive High School seniors some "real world" experience during its first C Ur Financial Future money management event at their school.
The fair is a one-day financial decision-making simulation that teaches basic personal financial management skills. Students are given a financial profile of a person at age 22 with figures on income, debt and savings. They visit various booths manned by credit union personnel and community volunteers. These booths include housing, furniture, transportation, food, insurance, credit and savings. Their job is to develop a balanced budget.
A "fun booth" is also included as part of the process, with booth attendants tempting students to purchase cell phones, vacations, VCRs and other luxury items.
During their shopping spree, announcements were made of events that cost them extra money or bring a windfall income. Students enjoyed the day, calling it "eye-opening," "educational," and one full of surprises.