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J 1 <br /> Cape5Pinancial <br /> Cod Education <br /> • F- • •�- DRAFT COPY <br /> BOOTH DESCRIPTIONS <br /> FINANCIAL MANAGEMENT <br /> Credit/Lending: Provides loans to students. The booth functions like a typical <br /> lender and is usually staffed by financial industry employees. Volunteers will help <br /> students figure out what type of loan they need and present them the terms,which <br /> the students can either accept or reject. They explain credit scores and the <br /> consequences of bad credit scores,which is a key component of the fair. They also <br /> help students understand how they would have to pay back their loans. Students <br /> can also sign up for credit cards at this booth as well. <br /> Credit Counseling:Assists students in their spending plan. The booth consults <br /> students throughout the fair on their spending plan,helping them cut costs and <br /> determine what kind of borrowing they may need. Booth volunteers should be <br /> trained financial counselors who can help students understand everything from <br /> interest rates to brokerage fees. Booth volunteers will do a final assessment of the <br /> student's spending plan after the student has completed each booth. <br /> Investment/Savings: Helps students plan for retirement and manage a financial <br /> portfolio. Students will choose how to invest their savings with the advice of a <br /> booth volunteer,who is typically a financial industry employee with knowledge of <br /> savings and investment. <br /> Insurance: Explains the costs of auto, rental,and life insurance. Typically captained <br /> by an insurance broker, students must visit this booth when purchasing or leasing a <br /> car and after choosing their living space. Booth volunteers will explain insurance <br /> plans and ensure that students have all necessary coverage. <br /> NECESSITIES <br /> Housing: Students choose what size apartment or house they want to live in. <br /> Typically captained by a real estate broker or property manager,booth volunteers <br /> will present the various housing options and how much they will costs short term <br /> and long term. If students wish to own a home,they must receive a mortgage from <br /> the lending booth. Students will have to account for utilities costs and also choose a <br /> TV, Internet, and,if desired, a phone plan. <br /> Furniture: Explains to students how to furnish their home, accounting for the size <br /> of the living space and the budget. Booth captains tend to be furniture salespeople <br /> who have an expertise for the costs of furniture and the appropriate amount of <br /> furniture for a specifically sized home/apartment. Some apartments are furnished <br /> at minimum all students must purchase a bed. <br /> Food/Health: Helps students create a food budget and choose health insurance. <br /> Typically captained by a health insurance professional,this booth explains the costs <br /> Credit For Life Development Toolkit Page 28 <br />