High School to host financial literacy workshop for students

Central Valley — The Monroe-Woodbury High School Business Department, in coordination with its sponsor, Hudson Heritage Federal Credit Union, will conduct a financial literacy workshop on Tuesday, Jan. 10, called “Reality Check…And Balances!” for all students enrolled in the College 101 course for the fall semester. Prior to the date of the workshop, students will have determined the entry level salaries for a career researched in College 101 and have calculated their monthly gross and net pay. When they enter the workshop, they will use their “net pay” sheet/checkbook register to construct a monthly budget by visiting stations for loans, savings, housing, utilities, groceries, cell phones, transportation, clothing, insurance, charity and entertainment. In addition, there will be a station where they will spin a “wheel of fortune” for life’s unexpected expenses or income. The students will endeavor to “check-out” of the workshop by having a monthly budget with at least $200 in disposable income. College 101 teachers Elisabeth Hellwege and Jacqueline Palkaunieks along with Business Department chair Lynne Gates and HHFCU Branch Manager Bryanna Levine will be at the check-out table evaluating each student’s budget. If they get to the check-out and do not have a balance of $200, they will have to go back and revisit the other stations to adjust their budgets. Advisors consisting of HHFCU staff and representatives from Time Warner Cable, Hannaford’s and Allstate will assist the students at the stations by explaining their options and choices and distributing various promotional items. There will be calculators at each station for the students to “crunch the numbers.” The students will be able to apply the skills learned in College 101 to the reality of adult responsibilities and decision-making, in a fun and enjoyable fashion. It is planned to make this workshop the “final exam” for the College 101 course.