PSCUnow.com 734.641.8400 October 2015
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2015 PSCU
Board of Directors
 
Frederick W. Morgan
Chairperson

Carol Palazzolo
Vice Chairperson

Dean J. Trudeau
Treasurer

Edward A. Carey, Jr.
Secretary

George Sciotti
Bernard Hanus
Nora Sharpley
 
Credit Committee
Veronica Massey
Huey Ferguson
Juanita Henry
Michael McMicken
Financial REALITY Fair

On Saturday, October 3, 2015 in Southfield at the Torch of Wisdom Center, PSCU hosted A Financial REALITY Fair allowing teens to actively discover for themselves the choices that will affect their financial future.  The event started with a budget worksheet customized with a realistic starting annual salary and student loan debt appropriate to a career of each participants choosing starts them off.

Making Choices

Students then visit several stations operated by credit union and community volunteers to make decisions on the monthly expenses they will face when living on their own.  The object is to find a place to live, purchase furniture, transportation and services to support themselves for one month in the real world.  Teens must figure out how to balance their budget and support a savings goal.  If they don�t make ends meet, they must look at options such as obtaining a part-time job, finding a roommate or canceling a service.

They Really Get It

After struggling with their budgets and making some hard choices, the teens are eager to absorb important money management advice.  They sit down to review their financial profile with a credit union financial counselor and discuss the importance of saving from every paycheck and strategies for paying down debt.

PSCU had over 40 employees and Torch of Wisdom people volunteer to work with the youth on this event.  It was a wonderful success, and would love the opportunity to participate in this kind of workshop in the future.  Thanks to all that made it possible.


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Disclaimer - All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only.  




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