Local young people ages 14 to 24 are encouraged to take part in Travis Credit Union’s free annual Mad City Money Young Adult Financial Boot Camp, where they will participate in a fun activity that equips them with financial literacy.
Participants learn about budgeting, savings, debt, credit worthiness and other financial matters at Mad City Money, which is scheduled to take place Thursday, June 21 from 12:30 p.m. to 4:30 p.m. at the East Bay Center for the Performing Arts, 339 11th St. in Richmond.
Mad City Money is a simulation and financial boot camp that teaches basic money management in a fun setting. The simulation offers real-world scenarios where teens can get a sense of the challenges of affording to live, eat and provide for a family.
At the boot camp, participants become adults with budgets who encounter pushy car salespeople, commission-based realtors and credit unions and must decipher between their wants and needs, all while attempting to stay on an assigned budget.
“And if this were not enough, the fickle Finger of Fate is always on the lookout, ready to remind attendees how life can happen at the most inconvenient times,” organizers said.
As recognized by one young participant at a previous event: “If I choose to purchase an expensive car and a house, I end up struggling to provide for basic needs like food and clothing.”
The program wants kids to make their mistakes at this boot camp so that they will know better when they’re out in the real world.
“A lack of basic financial knowledge contributes to the uphill battle many youth face when entering adulthood,” says Barry Nelson, President and CEO of Travis Credit Union. “Through our ‘Awesome Cause’ of financial education, financial literacy, and financial advocacy, we strive to be a part of the solution for our members and the communities we serve.”
The event will include refreshments, prizes and a drawing for an Apple Watch.