makingCHANGE and Junior Achievement of Central Maryland (JACMD) will present “Y-Fi,” a youth finance event, Saturday, January 28, from 10 a.m. to 2 p.m., at Howard Community College (Kittleman Room,Duncan Hall - 10901 Little Patuxent Pkwy.) in Columbia, MD. Nearly 1,000 students, ages 12-18, and their parents are expected to attend the event, which will feature a “real life” simulation of financial planning, goal setting and decision making experiences.
“This is a great event that allows parents and students to explore financial understanding and budgeting together,” said makingCHANGE President Michelle Glassburn and Junior Achievement of Central Maryland President Jennifer Bodensiek, who created the Y-Fi event series to ensure that youth and their families are financially literate and understand the connection between earning, spending and savings.
During a one-hour session, students will choose a career,find out how much the job pays and learn to stretch their paychecks to cover all of their expenses. They also will go “shopping” and stick to a budget while making choices about transportation, housing, utilities, food, clothing and more.
“The simulation is a great way for parents to start a conversation with their teens about their own financial values and priorities,” said Kari L. Staddon, makingCHANGE’s assistant director of program development and outreach. “Teens will gain a better perspective of what it means to engage in financial planning/budgeting when they identify their ‘wants vs. needs.’”
Staddon added: “Parents should view this exercise as a hands-on learning tool for their kids to understand the importance of choosing their education levels that provide different career options, in turn, helping them to realize their financial goals for spending and saving.”
The simulation will utilize concepts from Junior Achievement’s comprehensive economics education programs such as JA Finance Park, currently debuting in Howard County Public Schools, Baltimore City Public Schools, Kent County Public Schools and Archdiocese of Baltimore schools.
“This program will engage our students in a virtual world where they must apply learned financial concepts to "real life" situations in order to complete the challenge,” said Ellen Flynn-Giles, board member of Howard County Public School System.
“And, because parents are included in the journey, we believe that the shared experience will provide a springboard for important family conversations about fiscal responsibility and sound decision-making that will help prepare their children for productive and rewarding futures.”
Admission to Y-Fi is free, courtesy of the following sponsors: APL Federal Credit Union, Nationwide Insurance and Shoppers Food. Registration is encouraged, but not required. To register, visit www.yfichallenge.eventbrite.com.
For more information, call 410-446-8635, email info@makingchangecenter.org or visit www.facebook.com/YFiChallenge.
About makingCHANGE
makingCHANGE is dedicated to developing and delivering financial education programs that help individuals create their own financial success story. The Center teaches people the financial education skills they need in a way that encourages lasting behavioral change. Its online and in-person programs are offered in schools, human service agencies and businesses. For more information, visit www.makingchangecenter.org.
About Junior Achievement of Central Maryland
Junior Achievement of Central Maryland is dedicated to inspiring and preparing young people to succeed in a global economy. Through a dedicated volunteer network, Junior Achievement provides in-school and after-school programs for kindergarten through 12th grade students which focus on work readiness, entrepreneurship and financial literacy. Founded in 1957, the non-profit organization annually serves more than 20,000 students throughout Central Maryland. For more information, visit www.jamaryland.org.
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(source: Lawrence Howard & Assoc.)
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