Folsom, Calif. –(April 21, 2023) – While state legislators weigh whether to require financial literacy curriculum in California high schools, SAFE Credit Union’s financial education team is already focused on preparing teens to successfully budget as adults.
SAFE is kicking off its new Budget Cents program during Financial Literacy Month. The “gamified” Budget Cents program challenges students to manage budgets during real-life scenarios – simulating the Sacramento area’s actual costs and expenses.
SAFE certified financial educators will facilitate the new program in April at Mesa Verde High School in Citrus Heights.
"Financial literacy in general is going to be more important in the coming years as the conversation shifts to making this a requirement in schools,” says SAFE Credit Union Financial Wellness Manager Hector Madueno. “Until that does occur, and I do believe it will, we want to deliver financial education to schools and be poised to help in the future wherever it’s needed.”
California does not currently require financial literacy as part of its statewide curriculum. Assembly Bill 984, if passed, would require high school students to take personal finance courses to graduate. The bill is scheduled to go before the California Assembly’s Committee on Education on Wednesday, April 26.
SAFE established its financial wellness team to fulfill the credit union cooperative principle of sharing profits within communities through financial education.
“What surprises students the most during the simulations without a doubt is how much things cost,” Madueno says. “When we built this program, we looked at data for the Greater Sacramento area. So, when they are running through it, they’re going to see actual housing costs. Actual transportation costs. The actual costs of food or dining out.”
SAFE Credit Union Financial Wellness Manager Hector Madueno
Students are not only given an income with regular expenses but also random costs they must figure out how to fit into their financial plans.
“We have randomization elements occur throughout the game where students may have their budgets squared away, but then they encounter a broken windshield or maybe a flat tire just like you or I experience on a day-to-day basis,” Madueno says. "That’s just an example of some of the fun things that we introduce to keep them on their toes.”
Mesa Verde's Spencer Murrish, the high school's college and career technician, says SAFE's Budget Cents staff have been "amazing to work with and we are so excited that they have been able to develop this program."
“We are looking forward to seeing them learn how to budget, how to save and when to utilize credit appropriately in their lives,” Murrish adds.
SAFE also recently facilitated the program for students attending El Centro High School at Sacramento County’s Youth Detention Facility.
Budget Cents programs are free to schools and other participants. Madueno says the program is already gaining steam with 30 sessions booked for the remainder of 2023. Those interested in booking a Budget Cents workshop can email [email protected] for more information.
Another way SAFE is celebrating Financial Literacy Month is by challenging talented area high school students to design the credit union’s three 2023 stickers.
The popular decals show off SAFE’s YOU logo and this year will feature the theme "What Motivates YOU." The contest runs through Sunday, April 30. For more details visit our Sticker Contest page.
SAFE’s 2022 sticker designs
For more information email [email protected].
About SAFE
SAFE Credit Union has made members an integral part of its vision since 1940. Over the years the credit union has kept the focus on what really matters, putting members first, a formula that has seen SAFE grow into a leading financial institution in Northern California with $4.5 billion in assets and about 234,000 members. SAFE crafts every cutting-edge product and sterling service with members’ needs foremost in mind. In addition to banking services conveniently available through online, chat, mobile, or phone options, SAFE offers in-person services for members and small businesses at service centers across the Greater Sacramento region. SAFE is a not-for-profit, state-chartered credit union with membership open to businesses and individuals living or working in Sacramento, Placer, Yolo, El Dorado, Sutter, Butte, Nevada, Solano, San Joaquin, Contra Costa, Yuba, Amador, and Alameda counties. Insured by NCUA. www.safecu.org