On May 25 th from 7:30am – 1:00pm, Waterford Union High School will be sending the Senior Class through an interactive financial education program created by Community State Bank; “MyLIFE” (My Local Interactive Financial Education).
MyLIFE is an award winning financial literacy course that puts students in real-life situations, allows them to make real-life purchasing decisions, and shows them how those decisions impact their financial status. The program is hosted by Community State Bank, with Waterford Union High School becoming its 4 th academic partner.
A Day in the Life
Prior to the event, each student will choose a career, years of college they expect to attend, the pet(s) they would like, and their desired retirement age. From there, each student is randomly assigned the rest of their life… marital status, credit card debt, children, credit score, health insurance – all of the variables in our lives that aren’t necessarily planned. Once they receive their “life”, they enter the large gym and visit each station to make their purchasing decisions.
Community volunteers will be “selling” their goods and services to the students and influencing their most significant financial decisions. For instance, a financial planner will inform the students how much they need to set aside to retire; housing experts will be selling homes and leasing apartments based on credit score and ability to pay; a car salesperson will be “upselling” vehicles.
If a student struggles to make ends meet, there are real-life options they can consider to help them get by, such as picking up another job, taking a job interview to increase their income, or trade in parts of their expensive lifestyle for more affordable options.