FITCHBURG — Financial literacy was the focus of a class presented to a group of high school students last month.
The topics that Workers Credit Union Assistant Vice President, Area Manager James Monette covered in the hour-long March 24 class for Fitchburg High School students included credit, debt, student loans, the importance of setting up a budget that balances needs and wants with saving, and more as well as answering questions as they came up.
“It’s important for young people to get their finances off to a good start,” the Leominster resident stated in a press release. “If you don’t know about money and fail to develop good spending habits, you can easily get in trouble.”
According to the press release, as part of Workers Credit Union’s commitment to improving the lives of its members and the community through financial wellness at any age the Littleton-based credit union is offering financial literacy classes to high school and college students. Monette will be teaching the class at Leominster High School this week.
The release went on to convey that financial literacy is rarely taught in school but affects everyone. The National Financial Educators Council found a lack of personal finance knowledge cost the more than 3,000 people they surveyed an average of $1,819 in 2022. The TIAA Institute-GFLEC tested more than 3,500 adults and on average, adults could only answer half of 28 basic money questions correctly.