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Financial Literacy: A National Issue that Requires Local Solutions
Currently, only 20 U.S. states have or are in the process of providing a semester-long personal finance course as a pre-requisite for high school graduation. Unfortunately for area students, Massachusetts remains one of the states not yet requiring personal financial literacy as a part of the curriculum.
Many years ago, our community’s educational partners and leaders identified this burgeoning issue facing their student population. In response, local area banks (including North Easton Savings Bank and HarborOne Bank) began participating together to produce a unique and practical learning exercise called the Credit for Life Fair.
During these hands-on sessions, students can learn and fail in a live simulation while practicing how to manage one’s finances in the real world. These exercises cover income from chosen careers, implications of taxes on gross pay, budgeting for housing, lifestyle impacts, and similar primary financial decisions we all make in our daily lives.
Over the years, North Easton Savings Bank has evolved from a participant in the fairs to a leader of the program. Most recently, the Bank partnered with FitMoney to enhance the Credit for Life Fair experience by integrating a digital component to the learning exercise. This enhancement makes it easier for students to track the impact of their decisions and financial planning, bringing to life the importance of proper financial planning.
In the past year our local partnerships have enabled the Bank to bring the Credit for Life Fair to 11 different high schools, positively impacting thousands of area students in the process.
We consider this area of Massachusetts to be fortunate to have forward-looking school systems and passionate teachers. Thank you to our friends at: Attleboro High School, Brockton High School, Foxboro High School, Mansfield High School, North Attleboro High School, Norton High School, Oliver Ames High School, Rockland High School, Southeastern Regional Vocational High School, Taunton High School, and Whitman Hanson High School.
As always, we graciously thank the educators and volunteers that help make a difference in the lives of area students and their families. And we also thank our customers for choosing to bank locally; without your support we could not give our time and resources to worthy causes like the Credit for Life Fair.
