BATAVIA – More than 120 students from Batavia High School learned the complications of household budgets during a recent “Mad City Money” program facilitated by Great Lakes Credit Union.
The program helps young adults learn what it is like to try to budget and manage a real life salary and real life situations. Students were given an occupation along with a salary, family, student-loan debt, credit-card debt, and cost of medical insurance to create a monthly budget as they visited various merchants and made decisions based on the management of their income.
“When young adults are provided with the ‘hands on’ tools and learn about resources available to them, they will be able to have and retain a positive relationship with money that will provide a healthy financial balance as they become adults,” said Vicki Schultz, GLCU’s AVP of Business Development and the organizer of the program, in a news release.
Students had to make decisions, such as buying a house or renting an apartment; choosing affordable day care; whether or not they could afford to go out to a restaurant for dinner; and they experienced a financial windfall and financial setback.
Great Lakes Credit Union serves Kane, Lake, McHenry, DuPage, Kendall, Will and parts of Cook Counties in Illinois and Kenosha County in Wisconsin.
For more information on Great Lakes Credit Union and “Mad City Money,” call 800-982-7850.