RICHMOND, Va. (1/25/13)--Youth who serve as pages and messengers in the Virginia Senate received financial education Monday from Richmond-based Virginia CU.
| Cherry Hedges, Virginia CU's financial education director in Richmond, presented an hour-long session on financial education Monday, which included hands-on budgeting activities, to youth who serve as pages and messengers in the Virginia Senate. (Photo provided by Virginia CU)|
The 40 students, most of whom are 13 or 14 years old, are in Richmond during the General Assembly session and serve the Senate clerk's office. They come from all regions of the state and stay on course with their schoolwork while in Richmond. The financial education session was one of several offered while the General Assembly convenes. The credit union's financial-education program is in its second year.
"We have received very positive feedback from the students themselves and from the Senate staff who work with them to coordinate enrichment activities," Glenn Birch, Virginia CU's public and media relations director, told News Now
. "This is an extension of the financial education programs we offer in schools, libraries, community centers, and our own facilities each year. Last year, our financial education programs reached more than 12,000 youth and adults."
"The pages who serve the Senate of Virginia are a very bright group of students," he added. "They become very engaged in the hands-on budgeting activities that our credit union's financial education director leads. It's exciting to see middle school students develop a realistic budget based on the expected take-home pay for real-world jobs and careers."
Cherry Hedges, the $2.33 billion asset credit union's financial education director, presented an hour-long session that included hands-on budgeting activities.
Based on the average income for several occupations, the students developed realistic budgets. They were randomly assigned careers as short-order cooks, child-care workers, legal secretaries, mail carriers, financial planners, physicians and others. They considered the impact of those careers on their future earning potential and learned-- based on the salaries they were assigned--to develop a realistic monthly budget.
The lesson also included information about debit cards, credit cards, cash and checks. The students then discussed the opportunity-cost of certain types of spending and the importance of managing credit as adults.