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Deering To Hold ‘Life’s Dollars and $ense’ Financial Literacy Fair

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Deering To Hold ‘Life’s Dollars and $ense’ Financial Literacy Fair
Posted on 10/09/2015
This is the image for the news article titled Deering To Hold ‘Life’s Dollars and $ense’ Financial Literacy Fair

Deering High School seniors will attend a financial literacy fair on Wednesday, Oct. 14, from 8:30 a.m. to 11:30 a.m. in the Deering gym. The “Life's Dollars and $ense” fair, sponsored by KeyBank and Jobs for Maine Graduates (JMG), will simulate creating a balanced monthly budget in the life of a typical 22-year-old in Maine.

About 40 community and business volunteers from the bank and JMG, as well as from UNUM, Hannaford, the Rotary Club of Portland, the University of Southern Maine and the University of New England, will be volunteering at various booths, helping students to figure out how to live within a monthly budget. The goal of the fair is to help students develop a basic understanding of sensible financial planning and an awareness of how each income and expenditure component impacts the budget’s balance.

In addition, Bill Smith, managing director of ScholarFITS, also will be available to help students better understand college costs, financial planning in general and specifically student loans.

Students are charged with visiting each of the themed booths (plus an income tax station), and using the information to balance a monthly budget. Examples of booths are: banking, groceries, unexpected, transportation, housing and Internet/cellphone.

Additional information, not found at any booth, such as the income associated with students’ selected careers, is on their profile sheets. Profile sheets have been customized based on each student’s responses on a career profile survey. The profile sheets reflect the most up-to-date, entry-level wage data for more than 40 careers in southern Maine, as well as health insurance costs.

The fair also will feature drawings for prizes and plenty of useful financial information for students on the verge of adulthood.