MARQUETTE, Mich. (WLUC) – Students across Marquette County Schools underwent a program that simulates real-life financial scenarios.
For the approximately 350 high school students who participated in the financial fair, what was designed as a simulation may have been a glimpse into their future.
“It’s stressful, but at the same time I’m having fun and trying to get this done without going into debt,” said Maya Frederickson, a Negaunee high school student.
This event is the result of a partnership between Northern Michigan University College of Business and Honor Credit Union.
“We want to support them, but they need to learn the reality of having a career, and this is their chance to do that as practice before they go out into the real world,” said Carol Johnson of NMU’s College of Business. the dean said.
Students practiced financial responsibility through an app that tracks purchases and simulates what life will be like as an adult.
“They need to buy things just like the rest of us: housing, transportation, clothing, technology,” said Jamie Gollachner, director of community development at Honor Credit Union.
Honor Credit Union helped develop the program, which Gollakner said is designed to create situations that mimic real life.
“Understanding whether they need an iced coffee or whether they need to be on time for work helps them develop decision-making skills,” Gorachner said.
Johnson believes it is essential that everyone has these tools before they graduate from high school.
“They receive a credit score, they receive a monthly salary, and then they go to different stations and buy things they need to live,” Johnson said.
While it may have been a stressful experience, participants said it was also a successful one.
“I’m learning a lot about how to use money, how to act responsibly, how to talk to bankers,” said Mattie Vaughn, a student at Negaunee High School.
Gorakner and Johnson hope to revive the finance fair in the future.
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