The fair is a culmination of a year-long financial literacy and career exploration course. After choosing a career and corresponding salary, the students used their monthly paycheck to make “purchases” at the fair on necessities such as transportation, utilities and food, as well as entertainment and other discretionary expenses. The volunteers helped them review the cost of their expenses and financial choices, put away money for savings, manage pitfalls encountered as part of the exercise and make budget adjustments accordingly.
This is one of many volunteer activities coordinated by the company’s Transamerica Professional Network (TPN), a Cedar Rapids-based employee organization that, among other activities, engages in community service.
“We helped the students experience firsthand the importance of living within their monthly budget and making financially responsible choices. Many were surprised at how much things cost and realized they couldn’t live with all the luxuries they’d hoped for,” said Kayla Kremer, one of the Transamerica volunteers. “At Transamerica, our purpose is to help people achieve a lifetime of financial security; I love having the opportunity to reinforce that with young people in our community.”