Students learn the real meaning of budgeting at a Financial Reality Fair

FORT WASHINGTON, Pa. — Two hundred high school seniors participated in a Financial Reality Fair sponsored by TruMark Financial^® Credit Union and the Pennsylvania Credit Union Foundation at William Tennent High School, Warminster, Pa., on Nov. 2, and experienced what life would be like having a career and managing their own finances.

Students from the Eastern Center for Arts and Technology, Bensalem High School, George Washington High School, and William Tennent High School participated in a practical exercise in personal financial management aimed at helping them understand the art of budgeting. They chose a career, complete with a salary, and were given a budget worksheet. Students were required to visit 14 booths to make spending decisions on necessities such as housing, transportation, food and clothing, insurance, and other categories within their budget. Following their selections, students met with financial counselors who reviewed their worksheets and advised them on adjustments that might be necessary to live within their salary constraints.

The Fair provides a birds-eye view of what financial challenges students might face when tasked with managing their own finances. After completing the exercise, one Bensalem student commented, “I need to make some better financial decisions. My food bill is out of control and as a result I’m $300 in the negative. I might have to either get a part-time job or go on a diet.”

The Financial Reality Fair brought together representatives from Sun East Federal Credit Union, Merck Sharp and Dohme Federal Credit Union, Norristown Bell Credit Union, and TruMark Financial along with retired teachers and local business owners who share a strong commitment to teaching financial lessons to young people in a way that is both engaging and realistic.

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About TruMark Financial

TruMark Financial is one of the strongest, most progressive credit unions in the nation, offering a full range of banking, investing, and insurance services to more than 116,000 members in Southeastern Pa.

Founded in 1939, TruMark Financial is headquartered in Fort Washington, Pa., and has approximately $1.8 billion in assets through its 22 branches, a Call Center, and a suite of innovative online services. To learn more about TruMark Financial, visit www.trumarkonline.org or call 1-877-TRUMARK. Connect with TruMark Financial at www.facebook.com/trumarkonline and twitter.com/trumarkonline.

About The Pennsylvania Credit Union Foundation

The Pennsylvania Credit Union Foundation, a subsidiary of the Pennsylvania Credit Union Association, was formed in 1996 to benefit consumers and credit unions alike. The Foundation is a non-profit, tax-exempt organization with a main purpose of providing individuals, credit unions, and their communities with the human and financial resources to stimulate socio-economic growth.