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Navy Federal Helps Students Get "Real" with Finances

VIENNA, Va. - Navy Federal Credit Union staffers have provided some 70 Edison Academy students a dose of financial reality. Designed to give kids a "real life" experience, the two day workshop dubbed the Reality Store helps students learn the importance of making smart decisions and setting realistic financial goals...

By Staff Writer | Updated on November 15, 2005

VIENNA, Va. – Navy Federal Credit Union staffers have provided some 70 Edison Academy students a dose of financial reality. Designed to give kids a “real life” experience, the two day workshop dubbed the Reality Store helps students learn the importance of making smart decisions and setting realistic financial goals first-hand. “The whole experience is beneficial to everyone who participates; the students get a chance to understand financial planning in a real world scenario and Navy Federal employees are able to give back to the community by emphasizing the credit union motto of `people helping people’,” said Navy Federal CU Systems Development Analyst Sally Anthis. As part of the workshop students are given a specific budget and living situation (married, single, single parent) with a time frame of 10 years from their graduation date. Students are encouraged to set aside money from their annual income for retirement, health insurance and savings. To keep things “real” each student is also given a “chance” card that includes unexpected events such as an emergency medical expense or even extra funds in the form of a check sent from a relative.

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