(MENAFN- PR Newswire) FOLSOM, Calif., Dec. 15, 2023 /PRNewswire/ -- With fewer than
1.5 percent
of California students receiving financial education in the state's schools, SAFE Credit Union is stepping in to fill that gap with a new program that teaches teens and young adults how to make informed financial decisions.
The credit union brought the program, Budget Cents, to California State University, Sacramento students in an event hosted by college's Associated Students Incorporation (ASI). ASI offers services including a food pantry, childcare, a safe ride program and no-cost education events.
"I think it's a wonderful opportunity for students to come learn how to manage their finances, what they should be doing to prepare for the real world while in college and set themselves up for success after they graduate," says Sasha Margulies, ASI marketing coordinator.
Budget Cents is a simulation where each participant receives a persona that includes a family, debt, and income. They visit various stations representing major expenses, including childcare, housing and transportation costs.
At Sacramento State, SAFE representatives helped students with their budget and provided feedback to see how they successfully managed their money.
Student Lorena Rodriguez appreciated the program's insights. "The information to pay extra on the amount due to your credit card was very helpful," she says.
SAFE Credit Union Financial Wellness Manager
Hector Madueno says students attending Budget Cents are most surprised "by how much things cost."
"When we built this program, we looked at data for the Greater Sacramento area. So, when they are running through it, they're going to see actual housing costs, the actual costs of food or dining out," he says.
Budget Cents programs are offered at no-cost.
"A lack of financial education can lead to young adults making mistakes that can impact them for years," says SAFE Credit Union Vice President of Community Relations and Financial Education
Rebecca Delmundo. "Helping young
people learn positive spending and budgeting practices can position them for a better future, especially when it comes time for those major life milestones like buying a house, new car, or starting a family."
About SAFE
SAFE Credit Union is a not-for-profit, state-chartered credit union in
Northern California
with over
$4.7 billion
in assets and more than 236,000 members. Insured by NCUA.
SOURCE SAFE Credit Union
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