On September 23, students from the Honors College learned the importance of budgeting and saving from Michelle LaVoy, Senior Membership Development Officer at First New York Federal Credit Union. In her presentation, Michelle covered the basics and the real-world applications on what to do with money, from covering living essentials to building a savings. Students were encouraged to think deeply about their expenses to help them realize where their money was going and the practicality of keeping a budget. They were able to see how daily expenses like buying coffee, monthly expenses like car insurance, and larger expenses like rent could quickly add up and consume their paychecks. Michelle had them participate in a fun budget simulation activity where they were each assigned a different career with a designated income and varying expenses. As the students completed their budget simulation worksheet gasps could be heard throughout the room! They began to appreciate the intricacies of living within a budget and make smarter choices in certain purchases such as housing, clothing, and transportation. The lessons learned from the workshop gave them real-life applications to help them understand the value of financial stability and the tools to help them achieve it.
The Honors College is proud to have First New York, FCU as a sponsor, helping to support student success. A special thanks to Michelle LaVoy for the insightful presentation and Denise Woodman for assisting with the activities.
A sincere thank you to Amy Posner, Director of Donor Experience and Alumni Engagement, for her help organizing this workshop and her support of students at HVCC.
