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	MIDDLE SCHOOL STUDENTS LEARN REAL LIFE BUDGETING LESSONS AT FINANCIAL LITERACY FAIR Students From Rundlett Middle School in Concord First to Complete In-School Curriculum
	Manchester, N.H. (May 20, 2005) --- Eighth grade students from Concord’s Rundlett Middle School got a reality check when it comes to expected salaries they will earn, expenses they will face and decisions they’ll need to make about purchasing items they want versus things they really need at the first CU 4 Reality Financial Literacy Fair held at America’s Credit Union Museum in Manchester. Students completed a year of in-school curriculum learning about finances, calculating earnings and planning for expenses, and then put those skills to the test at the fair, meeting with mortgage lenders, auto dealers, utility companies and others who opened students’ eyes to the real expenses they will face and the need to save and budget to live their desired lifestyles. “This shows you how to manage your money and that you really have to keep track,” said student Alex Pickering. “I didn’t realize food cost so much, and since you have to eat every day, it really adds up.” At the CU 4 Reality Fair, each student received a folder detailing his or her personal information specific to their career choice. It included their monthly gross income and students had to calculate their take-home pay and create a monthly spending plan as they progressed through the museum to booths representing various categories of expenses they can expect to incur. Students had to make decisions about what they would spend on various items such as food, clothing, housing, transportation, insurance, home furnishings, savings, investments, entertainment and credit. Based on their lifestyle scenario, they were also met with alternatives to help make choices based on their own values, goals and resources. Manchester Mayor Robert Baines spoke with students about the importance of finding a career they are passionate about and fulfilling that passion. He told students it was appropriate that they were learning about budgeting and saving in the very place where America’s credit union movement started, the Manchester site that’s now a museum dedicated to that important time in history. Local businesses who participated in the fair included Best Buy, Comcast, Concord Family YMCA, Consumer Credit Counseling of NH & VT, Credit Bureau Services, Credit Union Consumers Cooperative, Credit Union Direct Lending, CUNA Mutual Group, Everett Sports, Lovering Mistubishi, PSNH, Priscilla H. Caza R.E. Broker, Serendipity Day Spa, US Cellular and volunteers from many credit unions throughout New Hampshire. Many students said after completing the curriculum and participating in the CU 4 Reality Fair, they have a greater appreciation for all their parents do and have a better understanding of costs associated with their own household and families. “I think a lot of us take housing for granted and didn’t realize our parents have to pay for it every month,” said student Mel Lawrence. “Now I know why my parents have to go to work – doing all of this and taking care of three kids, it’s expensive.” CU 4 Reality is a financial management program being taught to seventh and eighth graders as part of the Math curriculum at Rundlett Middle School in Concord. Developed by the Financial Literacy Education Committee (FLEC) of America’s Credit Union Museum in conjunction with the New Hampshire Credit Union League (NHCUL), the CU 4 Reality Fair was held to get students involved in a hands-on event to propel them through the personal financial management process, including career selection, budgeting for housing, transportation, luxuries, and more. “Spending money has never been easier than it is today, especially for America’s young people,” said Lynne Haney, Chairman, ACUM Financial Literacy Education Committee. “Too many students are learning to live beyond their means, because only a fraction of them are learning to manage their personal finances in school.” According to the Jump$tart Coalition for Personal Financial Literacy, nearly a third of all high school seniors use at least one credit card, nearly half use ATM cards and more than three-quarters have a savings or checking account. However, just 20% of high school seniors graduate with any formal instruction in personal finance. Haney said the CU 4 Reality curriculum creates a fun and interactive learning environment where students can practice specific financial management skills and learn early on the consequences of getting in over their head when it comes to financial matters. “One of our missions at America’s Credit Union Museum is to serve as a financial education facility,” said Peggy Powell, executive director of ACUM. “We hope to be a resource to teachers and credit unions and work with them to implement these important financial management lessons into the Math curriculum in schools across New Hampshire.” # # # America’s Credit Union Museum (ACUM) promotes the heritage of the credit union movement through the preservation of the industry’s history. ACUM is housed in the building of the first U.S. credit union in Manchester, NH. Additional information about ACUM can be found at www.acumuseum.com. NHCUL is a trade group which represents New Hampshire’s 31 consumer-owned credit unions. Credit unions are not-for-profit financial cooperatives and offer a variety of consumer financial services to over 363,000 New Hampshire residents and more than 85 million Americans. For more information, visit www.nhcul.org.
			Press/Analyst Contact Peggy Powell Executive Director America's Credit Union Museum 603.629.1553 ppowell@acumuseum.org
	For more information, call the museum at 603-629-1553 or visit its web site at www.acumuseum.org. ### © 2003 America's Credit Union Museum. All rights reserved. This page last updated November 9, 2004 ^top