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Duke in Pics: Teens Build a Budget

Duke Credit Union financial planning workshop is among offerings for the Duke community

Duke Credit Union financial counselor Scottie Dowdy, center in the Duke blue shirt, leads a financial workshop for 13- to 17-year-olds on Wednesday.

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What is wealth? “Wealth is being able to live without the worry of money.”“Being able to give and provide for your family for generations to come.”“It gives you the freedom to achieve your goals.”About 30 teenagers scribbled these sentiments in a workbook Wednesday then shared how they define wealth. The all-day financial workshop, organized by Duke Credit Union, was held in the Yoh Football Center and taught 13- to 17-year-olds how to form financial goals, control their money, and save and invest. “People develop habits,” said Duke Credit Union CEO Dan Berry. “So the earlier you can create a saving habit rather than a spending habit, the more you can save for the future.”The students, all children of Duke employees, alumni or family members associated with the university, also wrote their short and long-term life goals, such as becoming a biomedical engineer or starting an interior architecture business. Credit Union staff shared ways to achieve those goals, such as saving money early and getting good grades in school. One of 15-year-old Armani Williams’ long-term goals is to play basketball in the NBA. During the day-long workshop, he said he learned more about savings accounts and how to save money.“I’m definitely saving my money a whole lot more, that’s for sure,” said Williams, whose mother works as a staff assistant and program coordinator in Duke Neuroradiology.  The financial seminar is among free workshops offered by Duke Credit Union to the Duke community and family members. Topics include home ownership, creating a will, buying a car and budgeting. Credit Union staff also hold individual counseling sessions with Duke community members and offer short financial seminars to Duke departments. The next workshop, “The Dream of Homeownership: Making it a Reality,” is July 23 and helps participants determine if they’re ready to buy a home. The workshop is free for the Duke community, but registration is required.

Fifteen-year-old Armani Williams, center in the light-blue shirt, talks with Duke Credit Union financial service specialist Michael Curry and financial counselor Cassandra Taylor about budgeting.