HANSCOM AFB, Mass.–Hanscom Federal Credit Union recently hosted more than 60 Air Force JROTC cadets from two area high schools at the credit union’s annual CU 4 Realityfair. The event gave student-cadets from Lowell and Bedford (Mass.) high schools the opportunity to apply lessons they learned in their personal finance classes in a test run of financial responsibility.
The cadets attending the event chose jobs and were provided with virtual money representing entry-level salaries commensurate with their career choices. Each was assigned a list of fixed, variable, and optional expenses. Some cadets also were required to make student loan payments or carry special insurance, depending on the careers they chose.
“CU 4 Reality is an eye-opening opportunity for students to learn how many financial decisions impact their daily lives,” said HFCU Chairman Paul Marotta. “The experience makes them consider almost every aspect of their lives…from their career choices to how they balance wants versus needs.
“We pull together as a community to make this important event happen every year,” Marotta continues. “The credit union sponsors the event, but we couldn’t do it without the support of many volunteers. We’re grateful so many of our employees and volunteers from the Air Force base community come back every year to help out. They’re showing these young people how critical it is to watch their spending and create a savings plan.”