The 6th annual financial reality exercise for high school sophomores for 2018 will be posted here as soon as the date is set.
What is Future Finance?
Called ‘Future Finance’ the premises of the program is for students to look 10 years into the future when they will be about 26 years old, in the workforce and providing for themselves and possibly a family. Prior to the day of the Future Finance event, a survey is completed at school with questions regarding future career, lifestyle such as type of home and car and how they would spend their money recreationally. Their current GPA and how they would use credit cards are also considered as a life situation is formed for each student.
At the event, each students is assigned a monthly income based on career choice and GPA, a family situation such as married, single or divorced (40% of students who indicated they would be married are given a divorce status, since sadly that is about the current divorce rate), if there are children and how many and student loan debt payments.
Students are then given 90 minutes to make mock purchases at fourteen booths manned by volunteers in the business community. Housing, insurance, medical, groceries, internet and phone, transportation, utilities, childcare and banking are a few of their stops. In addition, SOS where they receive financial counseling, Chance where they might receive coupon savings or an unforeseen medical expense, and Charitable Giving where they may make a mock donation of time or money.
The hope is the students make it to every booth without running out of money, but often you see students trading in their car for a bus pass or downgrading cell phone and internet plans. While there are many lessons to be learned in this exercise, the event is geared towards sophomores as their income potential is based on freshman GPA. For some students, their freshman year was tough and there is still time to improve their GPA and for others it reinforces that they are headed in the right direction.
We are always looking for volunteers and sponsorship as 100% of the program expenses are on us, Cowley First. Anyone interested, please email to firstname.lastname@example.org or call (620) 221-9951 or (620) 442-3094.