Photo contributed | Incoming Fresno State students participate in Golden 1 Credit Union’s Financial Wellness Challenge during the Summer Bridge Program, where they make simulated budgeting decisions involving housing, transportation, food and other expenses to build practical money management skills before starting college.
Golden 1 Credit Union is helping incoming Fresno State students prepare for the financial realities of college through an interactive budgeting exercise designed to teach practical money management skills before classes begin.
Golden 1 partnered with Fresno State’s Summer Bridge Program to host its annual Financial Wellness Challenge, where nearly 80 incoming freshmen navigated simulated financial decisions based on career paths and lifestyle choices.
Students balanced budgets that included housing, transportation, food and childcare while deciding whether discretionary purchases fit within their financial limits.
Megan Kolofer, a member of Golden 1’s financial education team, said the exercise helps students build financial fluency before they begin managing tuition, housing and other everyday expenses.
“One of the most common challenges that I see is that young adults are constantly focusing on the cost of buying something, but not necessarily the cost of owning it,” Kolofer said.
She pointed to the program’s mock car-buying station, where students often overlook expenses such as insurance, fuel, maintenance, registration and parking when considering what they can afford.
Kolofer said financial institutions have a responsibility to complement the work of parents, schools and community organizations by helping young adults understand real-world financial decisions before they face them independently.
Rather than emphasizing memorization, Golden 1 aims to help students gain confidence by practicing financial decision-making in a risk-free environment.
“Financial education isn’t just teaching the kids about how money works,” Kolofer said. “It’s really about helping them build the confidence to make informed financial decisions.”
Golden 1 recently expanded its presence at Fresno State with the opening of an on-campus branch that offers financial services, coaching and educational resources.
Golden 1 said programs like the Financial Wellness Challenge help strengthen long-term financial literacy while supporting workforce readiness and broader economic development across the Central Valley.