A group of Springfield business leaders are hosting a financial literacy fair for high school seniors this Friday. The event, called Credit For Life, will be held at the Springfield Technical Community College. It aims to equip students with financial tools they can use to find success post-graduation.
“Seniors are graduating in another month. And whether they like it or not, they're going to be adults,” said Credit For Life volunteer Edward Nuñez. “These are the decisions that they're going to [have to start] make. So why not start them off on the right path before they enter the adult world by going through this budgeting exercise?”
As seniors enter the event, they will begin a role-playing activity and act as their 25-year-old selves. They will first select a career and starting salary, which Nuñez said has been calculated by the Credit for Life Committee based on salary statistics in Western Massachusetts. Then, they will work on building their credit scores and navigating real-world circumstances including budgeting for housing, transportation, and savings.
“It's been an eye opener for a lot of kids,” said Nuñez, a real estate broker and vice president at NRG Real Estate Services in Longmeadow. He has been helping with the event for 15 years. “Many kids have come up and said they didn't realize they had to pay for the expenses that they’ll have to pay for [after graduation].”
The fair is operated by over 70 volunteers who will lead budgeting exercises, encourage networking opportunities, and explain the importance and mechanics of maintaining a strong credit history.
“Credit nowadays impacts so much more than your ability to just buy a house or a car. Employers are checking credit before they hire individuals. Landlords... check credit before they rent to you,” Nuñez said. “So it's not just about being able to purchase something or getting a preferred interest rate. You know, it can hold you back from so many things.”
Since the program launched in 2008, Nuñez said he has had numerous students stop him on the street and express their gratitude and appreciation for the event.
“I just thank them. I think it's awesome,” Nuñez said. “It's a great feeling when you know that the efforts put in by this committee [are] really having an impact on our students and the future of their lives.”
