More than 200 Wakefield Memorial High School seniors learned how to budget and manage money at the recent Credit for Life Financial Literacy Fair coordinated by The Savings Bank and funded through a grant from the Bank’s Donald E. Garrant Foundation.
The participating students were asked to select an occupation and given a salary and credit score. Working within those parameters, the students met with advisors to make choices regarding housing, transportation, and other important lifestyle decisions. Representatives from the local business community, local officials, volunteers, and school staff assisted the students in making their selections and decisions, based on several factors including their monthly salary, budget, and the cost of goods and services. The students were given electronic padfolios to use during the fair to record and keep track of their earnings, savings, and expenses as they learned how to make sound financial decisions in preparation for life beyond graduation.
“This is a great opportunity for WMHS seniors to learn financial skills in preparation for life beyond graduation,” Ally Houghton, Marketing Coordinator at The Savings Bank and coordinator of the interactive event said. “Many thanks to the volunteers who shared their expertise with the students. We appreciate the time and talent of all the professionals who helped us at the Credit for Life Fair.”
Community volunteers and Bank staff who participated in the Credit for Life Financial Literacy Fair include Paul Adams, Sal Barbagallo, Chris Barrett, Karen Benedetti, Kathy Boyle, Katie Cafferty, Denise Carbone, Cheryl Carroll, Maureen Courtenay, James Fitzgerald, Anthony Guardia, Maureen Jennings, Laurie Jordan, Maria Melo, Scott Myers, Paula Pustorino, John Smolinsky and Barbara Worley.
“We are grateful to The Savings Bank and the Donald E. Garrant Foundation for sponsoring and coordinating this valuable educational opportunity that focuses on financial literacy and problem-solving,” Jacqueline Simmonds, Business Teacher at Wakefield Memorial High School added. “This fair creates financial scenarios that show students the importance of making balanced decisions based on credit histories, credit scores, and life necessities like housing and car payments.”