JAY, Maine—Eight employees of OTIS Federal Credit Union visited Spruce Mountain High School and hosted a Financial Fitness Fair in conjunction with the Jobs for Maine Graduates program. This year marks the second year that OTIS has partnered with JMG in holding the event.
Approximately 150 SMHS Juniors and Seniors participated in the “Real Life Game of Life.” Each student was assigned an annual income, and was tasked with budgeting for life’s essentials without exceeding their assigned income after taxes. All of life’s basic necessities were represented by booths manned by OTIS staff members, including categories such as groceries, student loans, housing, and transportation. After the students had made stops at each booth, some were assigned a random, disruptive life event, such as a car accident. Students were then prompted to reconceive their budgets in light of these new developments by re-visiting each station.
Each student who completed the Financial Fitness Fair was entered into drawings at the Fair’s conclusion for prizes, which included wireless phone charging stations, two laptop computers, and ten $50 Cumberland Farm gift cards.
“The Financial Fitness Fair at Spruce Mountain High School was a great opportunity for the students to get a glimpse into what life is like after high school and college,” said Kim Turner, president/CEO of OTIS FCU. “This exercise was a huge success, and I am excited that we were able to help them understand the different expenses associated with living on your own. I think it will be great when the students can reflect on this experience when they are going through the various milestones that they had to budget for!”
Added Jamie Turcotte, Loan Manager at OTIS FCU: “I attended the Financial Fitness Fair as an employee of OTIS Federal Credit Union; the best part was both of my daughters were in attendance also. It was so much fun! The students had no idea how much everything costs. I feel it was an eye opener to the real world. Both of my daughters said to me now I know I cannot afford everything I want. What a great thing for the students of Spruce Mountain High School.”