Immersive experience designed to provide participants with realistic financial scenarios, choices
With the increasing complexities of the modern financial landscape, Truist recognizes the critical importance of equipping young adults with the knowledge and tools necessary to make informed financial decisions. But with only 25 states requiring high school students to take a personal finance course, many young people are entering adulthood without real-world financial skills. Truist Life, Money, and Choices will provide students with comprehensive resources and interactive learning opportunities designed to enhance their understanding of key financial concepts-all free through community organization partners.
"As we close out National Financial Literacy month, we are thrilled to launch this initiative, which directly aligns with our purpose to inspire and build better lives and communities," said
Truist Life, Money, and Choices, which kicked off with a session at
Each participant is assigned a personal financial profile outlining his or her occupation, income and family composition, along with a transaction ledger to record financial transactions. With their profiles and ledgers in hand, participants make their way through each station, receiving guidance and support from Truist teammates, and making their own decisions. The stations cover common expense categories, including:
- Acts of Care - giving back to community and loved ones
- Banking - maintaining and adding to savings
- Childcare - daycare, babysitting and more
- Education - student loan repayment
- Food and Grocery - food costs and eating out
- Health and Wellness - healthcare costs, inclusive of any employer-provided insurance options
- Housing - renting vs. owning, insurance and maintenance
- Just for Fun - pets, fitness, hobbies and more
- Looking Good - hair, clothing, footwear
- Making Ends Meet - earning additional income or lowering expenses
- Transportation - various options for transportation including cars and public transit
- Utilities - electric/gas, water/sewer, trash
At some point as they progress through the simulation, each participant will receive a "Life Happens" scenario that represents an unexpected financial situation. Working alongside Truist facilitators, participants will determine if the scenario represents a credit-such as getting a promotion and raise, or a debit-like needing to replace a broken cell phone screen, and record it appropriately in their ledger. Both the stations and the "Life Happens" scenarios help students develop practical skills and understanding that are vital for long-term financial success.
At the end of the training, participants will gather to debrief on key learnings and provide feedback on the simulation. This will be accompanied by an overview of key budgeting principles they can apply to their own financial decision making. Truist facilitators will also help connect students to additional resources and tools, such as Truist Money & Mindset content, so participants can continue their journey toward financial confidence.
Truist invites high schools, colleges and other community organizations to participate in this transformative program and take advantage of the valuable learnings it offers. Any organizations interested in hosting this training can reach out to CRAinitiatives@truist.com.
To learn more about how Truist invests in communities, please visit www.truist.com/purpose/community.
About Truist
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