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Cape ,Financial <br /> Cod.jfiducation <br /> • -•mm• DRAFT COPY <br /> HOW DOES IT WORK? <br /> The fair is a simulation that requires the students to imagine they are in their mid- <br /> twenties and making daily financial planning decisions that may include: <br /> • What career profile matches their personal goals? <br /> • Does their budget permit them to own a home or should they rent an <br /> apartment or continue to live with their parents? <br /> • Can they afford a new or used car or is public transport more prudent? <br /> • Will they save for retirement or choose to spend those funds on a flat screen <br /> TV at the luxury booth? <br /> Fairs typically last 3-4 hours and begin with a brief orientation to ensure all <br /> students understand the event's various components and have an opportunity to <br /> ask any questions. Students'selected career profile will determine their education <br /> requirements and monthly income. Many fairs do career planning classroom <br /> activities prior to the fair and others encourage students to choose a career profile <br /> on the day of the fair. Students should have a basic understanding of what the fair <br /> entails, however they should not be too aware as it is important that their own <br /> knowledge is tested. <br /> With their career profile and spending plan in hand, students begin the interactive <br /> component of the fair by visiting every booth listed on their spending plan. <br /> Volunteer Booth Captains organize their volunteers to ensure their booth operates <br /> efficiently and effectively. Those running the booth will present their options to the <br /> students and ensure that the students understand these options. The booth <br /> volunteer that the student is interacting with will simply present all the facts and <br /> allow the student to make their own decision. After visiting all the booths, students <br /> must visit the Credit Counseling booth as a final step to review their spending plan. <br /> While they must conclude the fair at this booth,students should check in with the <br /> Credit Counseling booth throughout the fair. <br /> A volunteer from the Credit Counseling booth must sign off on a student's spending <br /> plan for the student to complete the exercise. Often the credit counselors offer <br /> advice when students find they are not able to afford their hypothetical lifestyle. At <br /> the conclusion of the fair,all students are required to have a final review and <br /> conversation with the credit counselor about the good decisions, challenges, and <br /> mistakes they made along the way. Lastly, students and volunteers fill out fair <br /> evaluations about their fair experience. The evaluation requests for specific <br /> examples of how the fair has helped sharpen the crucial consumer skills and <br /> financial literacy of the participants. <br /> Credit For Life Development Toolkit Page 6 <br />