FROM STAFF REPORTS
The Wake Forest Area Chamber Foundation will host a Financial Literacy Fair from 8 a.m. to 12 p.m. on Wednesday, Oct. 26 at the Ledford Center on the campus of Southeastern Baptist Theological Seminary.
Four area high schools — Wake Forest, Heritage, Rolesville, and Wakefield — are sending ninth grade students to the event. More than 200 students are expected to attend.
“We began hosting financial literacy fairs for middle school students in 2018 and impact more than 750 students each year,” explained Corey Hutcherson, executive director of the Chamber Foundation. “One of the missions for our Foundation is to prepare students for careers and leadership roles in our community. Understanding the realities of money is critical to becoming a successful adult.”
This year’s event will consist of 30 minutes of pre-teaching basic financial literacy principles. The principles include understanding needs vs. wants, budgeting, taxes, and credit. Afterward, each student is randomly given a real-life profile that includes marital status, number of children, student debt, and monthly income. Students must make financial decisions regarding housing, transportation, groceries, childcare, and more, all while staying within their monthly budgets. As the Fair winds down, volunteer banking representatives share different savings strategies with students fortunate enough to have any money left over.
“It’s enlightening for most students to see what things really cost,” added Hutcherson. “You can really see them make the connections between what they earn and what their expenses are. There’s suddenly a lot of appreciation for their parents.”
The program is run by the Wake Forest Area Chamber Foundation with support from Presenting Sponsor Civic Federal Credit Union. Business sponsors are Bumgarner and Martin Orthodontics and State Employees Credit Union. For details, please visit this website https://tinyurl.com/FLFVol2223.
Questions may be directed to Corey Hutcherson, Wake Forest Area Chamber, 919-556-1519 email@example.com.