Students had a post-graduation financial reality check on Nov. 7 as Shippensburg’s Career Center teamed up with the Pennsylvania State Employees Credit Union (PSECU) to host a “Financial Reality Fair” for students in the Ceddia Union Building.
The fair gave students a chance to budget and make financial decisions based on the career and lifestyle they predicted to be in after graduation.
When students first entered the fair, they looked up the career they predicted they would have after graduation. Based on their chosen career, students were given an average salary to budget for the rest of the fair.
Each table at the fair represented a different monthly expense that students would have to consider after graduation. Some of the first tables included the basic bills a student could expect to pay as they begin their life independently. This included rent, utilities, furniture and food. Each table helped the students calculate how much they would be spending based on their situation. Fair staff members also helped explain each expense and how it would be applicable in students’ lives.
The fair also represented expenses such as car payments, insurance, clothing, entertainment, television/internet/media, cell phone plan as well as others like hair, nails and spa payments.
PSECU Employees helped students calculate how much money they would spend on paying back student loans and a monthly credit card payment.
Based on each student’s salary, PSECU employees were able to predict if the students would have the capability to afford all their expenses at the end of each month.
Students who could afford their expenses and even had money leftover each month discussed further options for saving and spending money.
Senior Krystal Barone found the event was useful.
“The event was something that was very realistic and beneficial,” Barone said.