Money Smart 08-09
In observance of Money Smart Week, the FBLA sponsored a presentation by the SIFE organization from Wayne State College. SIFE (Students in Free Enterprise) members presented to the Introduction to Business class. The topic of their presentation was Saving and Investing, Using Credit. In the presentation, the importance of saving and investing was stressed by going through simulations. These simulations showed a young high school graduate who had to decide if she wanted to take out a student loan. Another scenario involved a salesman who was eyeing a new car—he had to decide whether or not to take out a loan. From these examples, then the amount of interest was determined, minimum payments were discussed, and total amount paid back were calculated. After this work was done, the students had to look at what it means to have a good credit rating.