Meriwest Credit Union Teaches Middle School Students - Students Learn Fiscal Responsibility in Real World Budgeting Class
04/29/08
SAN JOSE, CA - Meriwest Credit Union, one of the largest credit unions serving Silicon Valley, the Greater Bay Area and Tucson, Arizona, announced the launch of a pilot program designed to provide student budget training. The program was launched with participation of nearly 400 7th grade pre-algebra students at Windemere Ranch Middle School in San Ramon. Several Senior Managers from Meriwest Credit Union presented "Real World Budgeting," a simulation program that assumes the students are college graduates who are venturing into the job market and required to live independently. The students were given a job with a salary and then challenged to live within their means and replenish their savings account while managing a car, an apartment, and the other necessities of independent living.
"Real World Budgeting is just that; it challenges the students to make some tough choices that they normally wouldn't be exposed to. Do they want to be flashy and drive a sports car or be thrifty with a modest economical car?" said Greg Meyer, Community Relations Manager with Meriwest Credit Union. "As they get closer and closer to going over budget, it becomes more difficult to justify money for entertainment and eating out when you need it for necessary items like rent, groceries or apparel."
The students learn to make some financial sacrifices in order to maintain a comfortable yet modest lifestyle. At the same time, the trainers impress upon the students the need to "pay yourself first" by treating their savings accounts as a bill; the first bill paid after rent. In nearly every simulation run in the classrooms, students preferred to take money from their apparel budget or other discretionary funds rather than use money from their savings budget.
"Meriwest's presentations tied directly to the state math standards and gave our students a chance to apply what they have been learning to an important real-life situation," said David Bolin, Principal at Windemere Ranch Middle School. "We appreciate that Meriwest's managers volunteered an entire day to come to our school and deliver this program to so many of our students."
About Meriwest Credit Union
Meriwest Credit Union, one of Silicon Valley's largest and established financial institutions, has been providing proactive, personal, convenient and innovative financial services to more than 90,000 businesses and families throughout the San Francisco Bay Area and Tucson, Arizona, for more than 46 years.
Contact:
Meriwest Credit Union
Gregory Meyer
Community Relations Manager
408-365-6328
gmeyer@meriwest.com |
