CLEARFIELD – CNB Bank recently hosted its Financial Reality Fair at the Clearfield County Fairgrounds, bringing an immersive experience of tangible financial scenarios to more than 400 students from five local high schools.
The financial reality fair gives students the opportunity to go through a simulation of real-life experiences related to spending, saving and budgeting.
“The fundamentals of personal finance, including budgeting, saving and investing, impacts every part of our lives,” said Mike Peduzzi, president and chief executive officer of CNB Bank.
“We’re thrilled that our team of professionals from so many specialized areas of our bank come together to offer financial education programming to help our young people think about how to best prepare for managing their money.
“We are hopeful that our investment of time in covering these relevant topics in a fun, interactive exercise will help them better plan for, and achieve, a successful financial future.”
The purpose of the financial reality fair is to expose students to the financial decisions they will face as they move into adulthood and take that beyond the classroom as a realistic experience to budgeting and managing their money.
During the event, students had the opportunity to challenge their assumed lifestyle against their career choice and a realistic corresponding salary.
They were tasked with making financial decisions including where to live, what kind of car to buy, if they are going to have a pet, choosing a health insurance plan, and much more.
“Finances are understandably one of the major causes of stress for adults,” says Carrie Wood, assistant vice president of financial literacy.
“Understanding how to budget and living within your means are key to a lifetime of good financial habits. We want to set our kids up for long-term success and financial wellness.”
As a local community bank, community involvement goes well beyond the mission to offer high-quality banking products and services. CNB is committed to serving the continued growth and well-being of the areas in which it operates.