Students at Jeremiah Burke High School in Boston recently participated in a financial literacy fair organized by Early Investors Group. The fair featured interactive activities and presentations by financial experts aimed at enhancing the students’ knowledge in budgeting, investing, and financial planning. The objective was to equip these young individuals with the necessary financial skills for their future.
The fair had a positive impact on students like senior June Zaporojan, who gained valuable insights into budgeting and the real implications of her spending habits. Zaporojan expressed gratitude for the event, emphasizing its role in helping her comprehend the financial aspects of earning, spending, and debt avoidance.
Prior to the fair, students researched various professions and assessed potential earnings. Zaporojan, for instance, selected teaching as a career option with an expected income of $55,000 annually. This exercise served as a crucial tool in assisting her decision-making process and reaffirming her goal of becoming a teacher.
The fair included a simulation that allowed hands-on practice in financial decision-making.
Empowering students through financial literacy fair
For instance, Zaporojan initially planned for an $1800 per month apartment rental but later opted for a more affordable choice to stay within her budget. The simulation helped her grasp the importance of balancing income and expenses effectively.
Nislo Galvao, one of the co-founders of Early Investors, described how the simulation enabled students to plan their budgets by making choices regarding different expenses at various stations. These expenses ranged from groceries to vehicle costs, giving students a realistic view of budgeting. The exercise also covered topics such as taxes, savings, and investments.
The central message focused not only on spending but also on managing money efficiently. Including unforeseen and emergency expenses provided students with a broader understanding of how financial well-being could be impacted. The feedback from students was overwhelmingly positive, underscoring the effectiveness of this immersive approach.
The organizers emphasized the importance of financial stewardship, especially in light of the economic challenges faced by local communities. There are plans to expand such programs to more schools in Boston and eventually nationwide, as they believe that financial literacy is an essential life skill.
