Some 400 Lowell High School seniors got quite the reality check during Jeanne D'Arc Credit Union's sixth annual MoneyStrong for Life Fair, held at the Tsongas Center in Lowell, Mass.

During the event, students role played themselves at age 25 and were tasked with managing their income, savings, credit cards and the high cost of living.

“The MoneyStrong for Life Fair fits in perfectly with our mission of helping people make smart financial choices,” Mark S. Cochran, president/CEO of Jeanne D'Arc CU said. “It is crucial for students to learn the skills necessary to navigate the twists and turns of life's financial waters. We were pleased to provide them with an innovative and interesting way of gaining some real-life financial experience.”

Students chose their desired profession and were assigned the realistic income along with credit card debt, a savings account and student loan debt. Aspiring policemen and women, veterinarians, writers, choreographers, medical assistants, engineers and more moved from booth to booth making spending decisions on life essentials while managing a budget based on their monthly income.

At each of the 13 booths, students had to make choices such as what kind of apartment they would live in, whether or not to have roommates, to purchase a car or opt for a bus pass, and which insurance plan was best while weighing the delicate balance of needs vs. wants.

“This is definitely going to be useful to me because it's going to teach me the importance of spending money wisely,” Brianne, one of the student participants said.

“I'm glad we have this because my mom never taught me this stuff. I need this,” Alyssa said.

Students were tempted by high-cost items at the Luxury booth and some were also presented with unexpected scenarios at the Reality Check booth. There were students who lost their job, had babies or received an unanticipated bonus at work. They then had to determine how to cope with these scenarios based on the cash and credit available to them.

Alexandra, 18, was one of the students who got a reality check when she had a baby. “This will definitely make things harder for me as I go through because it's an extra $200 a month and that's a lot with everything else,” she said.

As the final step, students were required to visit the Counseling booth where they discovered whether they were living within their budgets. Many had to make changes to their lifestyles when it was revealed they were spending far more money than they were earning.

A total of 77 people, the majority of which were employees from Jeanne D'Arc CU, volunteered to help students in their decision-making processes. The credit union underwrote the cost of the event, including lunch for students and volunteers.

Instant Insights /

Lowell HS Students Get Reality Check: Jeanne D'Arc

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