MakingCHANGE and Junior Achievement of Central Maryland will present “Y-Fi” this month.

The youth finance event will be held from 10 a.m. to 2 p.m. Jan. 26 at Howard Community College, in the Kittleman Room, Duncan Hall, 10901 Little Patuxent Pkwy., Columbia, MD.

Approximately 500 students, ages 12-18, and their parents/guardians are expected to attend the event, which will feature a “real life” simulation of financial planning, goal setting and decision making experiences.

“Y-Fi is a fun way for students to learn about the daily financial decisions made by their parents in managing the household budget,” said makingCHANGE President Mike Couch. “The event was created to challenge students to make the decisions needed to spend less than their income.”

Each student will receive a different life situation, including marital status, income, education level and family size to consider while moving through each station. They are required to balance their “needs” (i.e. food and housing) with their “wants” for entertainment and dining out, while introducing savings and philanthropy into the process.

“The interaction between the parents and students during the financial simulation is intended to start the conversation about developing good financial habits during the teen years,” Couch added. “Many teens don’t realize the costs involved in running a household. Y-Fi will provide them with an initial understanding of how multiple spending decisions need to fit within their budget.”

The simulation will utilize concepts from Junior Achievement’s comprehensive economics education programs such as the JA Finance Park middle school capstone program which is taught in Howard County Public Schools, Baltimore City Public Schools, Kent County Public Schools and Archdiocese of Baltimore schools.

Admission to Y-Fi is free, courtesy of the following sponsors: The Wendy Slaughter Team / REMAX Advantage Realty, Northwest Savings Bank, The Columbia Bank, Simmerer Insurance, M&T Bank, Howard Bank, Sandy Spring Bank, The Lisa Higgins-Hussman Foundation, Ken Danker/Morgan Stanley and the Maryland College Savings Plan.

For more information or to register for Y-Fi, call 443-364-8202, email info@makingchangecenter.org or visit the Y-Fi website.

About MakingCHANGE

MakingCHANGE is dedicated to developing and delivering financial education programs that help individuals create their own financial success story.

The center teaches people the financial education skills they need in a way that encourages lasting behavioral change. Its online and in-person programs are offered in schools, human service agencies and businesses.

For more information, visit the MakingChange Center website.

About Junior Achievement

Junior Achievement of Central Maryland is dedicated to inspiring and preparing young people to succeed in a global economy.

Through a dedicated volunteer network, it provides in-school and after-school programs for kindergarten through twelfth-grade students. Those programs focus on work readiness, entrepreneurship and financial literacy.

Founded in 1957, the non-profit organization annually serves more than 33,000 students throughout Central Maryland. For more information, visit the Junior Achievement of Central Maryland website.