The Cornerstone Credit Union Foundation and BALANCE are now offering two turnkey personal finance simulations credit unions can purchase to help students in their communities learn the importance of managing a household budget for long-term financial success.
This program, known as BALANCED Life™, is made up of a reality fair and a classroom simulation. Delivered at affordable rates, credit unions can purchase one or both options. To view the purchasing options, click here.
What is a reality fair?
A reality fair is a hands-on simulation whereby students experience financial challenges they will face as they begin navigating life on their own in the real world. Students will complete the fair as couples to better understand compromise while making decisions about how to spend their household’s money. Each student will be assigned a career and a starting salary and will receive one family budget sheet. Students will refer to their budgets as they visit nine lifestyle booths that can include fixed, variable, or discretionary expenses. Following the fair, students will have the opportunity to visit with a financial counselor. For more information on what is included in the reality fair, click here.
What is a classroom simulation?
Much like a reality fair, the classroom simulation also mimics the real world. Unlike the fair, students are engaged through the power of visuals and one-on-one interaction in a classroom setting, eliminating the need for volunteers and decreasing the time needed to execute. To learn about what’s included in the classroom simulation, click here.
Why two products?
Credit unions come in all shapes, sizes, and differ in member/community needs. Having these options allows credit unions to serve in different capacities that best suit their needs and the needs of their communities.
Comments from credit unions experiencing BALANCED Life
“The reality fair went well,” said Gina Prince, CEO, Coastal Community and Teachers Credit Union. “We like the new format, and the couple idea worked well. A few were even arguing about purchases—ha, that is real life!”
“The kids learned so much through the classroom simulation and had fun doing it,” said Elizabeth Gray, community relations specialist, Abilene Teachers Federal Credit Union. “It was so funny to hear their comments and see them fighting like married couples about what they could and could not afford, and what was important and which things weren't. I thoroughly enjoyed doing it.”
For more information about the programs, contact Marina Garcia, Foundation financial capability director, at 469-385-6445 or mgarcia@cscuf.coop, or Erin Allen, senior vice president, strategic engagement for BALANCE, at 903-319-8463 or eallen@balancepro.org.