TUKWILA, Wash.–BECU once again held its annual Day of Service during which it closed its branches and nearly 2,000 employees hosted financial reality fairs for more than 8,000 students at 16 high schools in Puget Sound and Spokane.
At the fairs, students used an app to balance a budget while making tough life-based financial choices, the credit union said.
According to BECU, at the beginning of the event, students are each assigned a persona, family and income, and then have to manage their expenses through a budgeting simulation. Students visited stations to make spending decisions about transportation, housing, entertainment and more.
“The goal of our Annual Day of Service is to create realistic financial choices for teens in a setting where they can evaluate each choice and receive coaching while navigating the decision-making process,” BECU said.
The credit union said that in order to extend its financial education resources to all students and families, it is providing parents with the information, tools and encouragement necessary to speak with their teens about finances. Its Next Big Talk conversation guide (available in English and Spanish on BECU.org) features questions, tips and activities for parents and teens that reinforce the four areas of financial health: spend, save, borrow and plan.