Columbus City School students experience "real" game of life to learn financial responsibility
Nationwide Insurance & the CW join forces with Columbus City Schools to help teens “Get Real”
FOR IMMEDIATE RELEASE
April 20, 2010
Nationwide – Mike Switzer
WWHO – Deirdre Conley
Columbus, Ohio — On Tuesday, April 20, Columbus City School students participated in Get Real, a financial literacy program hosted by Nationwide and WWHO-TV, to help them understand what it’s like to manage their money in the real world after graduation.
Students started the event with a quick lesson in balancing a checkbook. They then were told their monthly salary, which was based on their current grade point average. They opened a mock Nationwide Bank checking account to manage money they used to “pay” for housing, taxes, education, transportation, utilities, groceries and other expenses. If a student was forced to declare bankruptcy, he or she had to obtain a second job or attend credit counseling.
“Get Real is a life experience opportunity where students learn about financial rewards and challenges for today and after graduation,” said Chad Jester, president of the Nationwide Insurance Foundation. “It helps young people understand what it takes to budget, save and use credit wisely. Nationwide’s sponsorship of Get Real reflects our commitment to Columbus City Schools students and their future.”
The all-day event at the Northgate Center involved more than 700 Columbus City Schools students and was attended by Columbus City Schools Superintendent/CEO, Dr. Gene T. Harris Ohio Treasurer of State, Kevin L. Boyce.
"We are pleased to partner with Nationwide to provide this excellent, hands-on learning experience for our students on how to best manage their finances," said Columbus City Schools Superintendent/CEO Dr. Gene T. Harris.
“Ohio’s economy suffered significantly during the worst economic slump since the Great Depression,” said Treasurer Boyce. “As we move forward, learning financial literacy is more important than ever for young people. My hope is that participants will learn how to use these techniques and tools to help them succeed in this economy.”
Sponsors participate by hosting booths where students learn about and pay for certain adult necessities. For example, when students visit the insurance booth sponsored by Nationwide Insurance, they will learn about various insurance products for their home or car and write a “check” to cover their monthly costs.
“We are proud to see this program, now in its seventh year, continue to grow”, said Ellen Daly, vice president/station manager for WWHO-TV. “Get Real is an excellent eye-opener for students. They are given the opportunity to examine career goals, learn to manage money and understand how choices affect their lives.”
In partnering with the Get Real event, Nationwide Bank offered an exclusive one time offer available only to students attending the Get Real event. If they deposited $50 of their own money into a Nationwide Bank savings account, Nationwide put in an additional $501 to help them start off their savings with $100 in their account. For students with less than $50 to deposit, Nationwide also matched whatever amount they could deposit up to $50.
The mission of the Ohio Treasury is to protect and invest state funds, while providing innovative financial education and resources, empowering Ohioans to make smart money choices.
WWHO-TV, a CW affiliate, is a LIN Television station. LIN Television
(NYSE: TVL) owns and/or operates thirty television stations across the
Nationwide, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by A.M. Best. The company provides a full range of personalized insurance and financial services, including car insurance, motorcycle, boat, homeowners, life insurance, farm, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans and health and productivity services. For more information about Nationwide, please visit, www.nationwide.com.
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1. APY represents Annual Percentage Yield. APY is effective as of 04/06/2010 and subject to change. Fees may reduce the earnings on the account. Per month transaction limitations may apply. Limited to one person. Savings account must be opened by 7/31/2010. Nationwide Bank will match your deposit up to $50 incentive. To receive incentive you must open with the amount you want Nationwide bank to match up to $50. Funds deposited must be new money and not from a Nationwide Bank account. Please allow five weeks after the 60-day period for the incentive to post. Nationwide Bank reserves the right to withdraw incentives and offers.
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