Health and fitness are a big focus for many Millennials. Fighting obesity and health-related issues with exercise and healthy diets is a priority for many young adults.
But how are we fighting back financially? With all of the talk of the importance of being healthy, it is important not to ignore another component of your overall health and well-being: money. With American households “worried about money,” and the average student debt climbing to $30,000, it’s a good time to be learning how to take control of your finances.
Maine’s credit unions are helping students to do just that. With Financial Fitness Fairs, credit unions are teaching students at high schools how to budget, and how to maneuver some of life’s financial obstacles. The timing is perfect. Students will be graduating from high school, and will now be equipped with the basics of budgeting for housing, transportation, food, utilities, savings, fun, home furnishings, and more. They also get an understanding of credit scores, and how to use credit to their advantage.
What Students Learned:
“I learned what my average budget would be for my career, and it is very helpful.”
“I learned that budgeting is very important!”
“If I save $32 per week, every week, I’ll retire a millionaire!”
“Looks like dining out is not for me…”
“I learned that you pay almost double with a bad credit score as I would with a good score.”
“I learned that your credit score is imperative to living comfortably.”
“My truck payment is going to be my most expensive payment…”
“I learned that paying your bills on time and a little extra can make payments go down faster and help your credit score.”
Being able to manage your own money and take control of your financial life is the key to living the life that you want.