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Family Economics and Financial Education

Family Economics and Financial Education. Welcome! . THE UNIVERSITY OF ARIZONA. John & Doris Norton School of Family and Consumer Sciences Take Charge America Institute for Consumer Financial Education and Research. FEFE Mission.

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Family Economics and Financial Education

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  1. Family Economics and Financial Education Welcome!

  2. THE UNIVERSITY OF ARIZONA • John & Doris Norton School of Family and Consumer Sciences • Take Charge America Institute for Consumer Financial Education and Research

  3. FEFE Mission “Provide educators with no-cost curriculum materials and the skills and confidence to effectively teach family finance”

  4. It is our DNA! By Educators…For Educators

  5. National Master Educators • 10-13 current classroom educators • Enhanced professional development program component • Lesson plan development, evaluation and modification • Guide programming through weekly updates and discussions Hallmark of the FEFE Program

  6. By Educators… For Educators Goal: Enhance meaningful opportunities for educators to be involved with the FEFE program and receive recognition

  7. New and Updated Resources Today’s workshop You should also know… Life Cycle of Financial Planning Updated to enhance brainstorming and higher quality conclusion and assessment tools Semester course recommendation Has been updated Test banks New questions Gumball machine New lesson for throughout a course News Interview Great new active learning tool to promote critical thinking • Savings unit • 100% re-written • Introduction to Investing • 100% new lesson • Credit unit • 100% re-written to reflect the Card Act changes • Identity theft • 100% re-written Check out the updated resources handout in your folder!

  8. Updated Resources Personal Download History Home Page Lesson Plan Page Description of Changes

  9. Savings Unit 14.0 * Edited Version

  10. Choosing to Save1.14.1 Take Charge of Your Finances *Edited Version Replaces the Introduction to Saving and Time Value of Money lesson plans

  11. Objectives

  12. Introduction Option 1 (30-45 min) Option 2 (10-15 min) Educator reads Bernstein Bears’ Trouble With Money Discuss key messages Savings habits and setting goals Opportunity cost Well-being • Break into small groups • Read a children's book • 5 options; each with a different message • Complete the graphic organizer and report to the class • Make connections between their life and the story

  13. Vocabulary Bingo Side 1 Identify words you are unfamiliar with Reference the information sheet to learn the definition Write the word and its definition (stated in your own words) on a square Not all words will be used Word: Savings Definition: Income not spent on consumption Playing Bingo is an optional conclusion!

  14. Vocabulary Bingo Side 2 Optional Draw pictures or write a sentence using the word Gather signatures from adults for using the word outside the classroom Word: Savings Use in real world: Small groups are recommended to promote greater comprehension through discussion

  15. My Wish List Brainstorm a personal wish list for yourself now and in the future. Throughout the lesson students are creating a personal spending plan to immediately apply the concepts to their lives My Wish List Your wish list can include anything of monetary value as well as personal goals.

  16. What does this statement mean to you? “Today’s self has an impact on future self” An emphasis is placed upon getting students to consider what they want their financial future to look like!

  17. Time Value of Money Money paid out or received in the future is not equivalent to money paid out or received today Three factors affect how an investment will grow.

  18. How Do Interest Rates Affect Time Value of Money? MoreMoney Interest rate

  19. Wish List Refer to your wish list. How will you receive these items? Set Goals! Goal setting helps you think about your future self.

  20. Opportunity Cost Opportunity cost of a decision is the value of the next best alternative that must be forgone • Allows you to analyze the consequences of choices to decide which trade-offs to make

  21. Conclusion options In addition to Bingo and a traditional review worksheet…. Online game Sponsored by Wells Fargo Assessment: Savings Campaign in your community Math reinforcement worksheet

  22. Rolling Jenga 1.14.1.J1 Set up Flow of the Activity Participant: Pull a piece from the within the tower without it tumbling and place it on the top of the tower Building Supervisor: The building supervisor reads the vocabulary word from their list that matches the number on the tower piece Participant: Roll the die and complete the assignment for the vocabulary word If correct: earn the number of points on the die and it is the next persons turn If incorrect: no points are earned and it is the next persons turn • Work groups of 5 • Select one person to be the “building supervisor” • Choosing to Save Vocabulary List 1.14.1.E1

  23. Rolling Jenga 1.14.1.J1 • The numbers on the die correspond to the following options: • Wild: Choose any of the other five dice options • Definition: Explain the definition of the word. • Picture: Draw a picture that describes the word. • Sentence: Use the word in a sentence. • Importance: Describe why this word is important. • You: Describe how this word relates to you. Options are provided to enhance vocabulary comprehension

  24. Teaching Tips • Use a marker to write numbers on each activity piece, or print off Avery Standard #2181 Mini File Folder labels • Use a regular die instead of a jenga rolling die • Provide students with the answer key the first few rounds • Use play doh to have students “mold” a picture of the word

  25. Any Questions?

  26. Savings Tools1.14.2Take Charge of Your Finances *Edited Version Replaces the Managing Your Cash lesson plan

  27. Objectives

  28. Facilitation

  29. Savings Tools Grid • Each group will receive a deck of Four of a Kind cards, a and a large piece of butcher paper with 6 x 6 grid • Separate the “unlabeled” cards from the deck and set them aside • As a group, spend 2-3 minutes completing the grid based upon what you already know about savings tools Grid is in Note Taking Guide & answers are in Information Sheet

  30. Content Presentations • Divide participants into five equal groups • Each group creates a presentation to educate their peers • A planning guide is included in the note taking guide • A presentation rubric is available • During the presentation, students complete their note taking guide

  31. Conclusion/Assessment Analyze a scenario and determine which savings tool is most appropriate Account information is provided to assess tools in the context of features and depository institutions!

  32. Savings Tools Scenarios Mariah has twin daughters who will be graduating from high school in two years. They both have a goal to attend college after graduation, and Mariah wants to help them reach this goal by paying for some of their schooling. She has $2,000 for each daughter that she would like to save and then be able to access in two years. Which savings tool would you recommend Mariah utilize and why? Scenarios are used to help students think about the situation in which a particular savings tool would be the most appropriate

  33. Any Questions?

  34. Investing Unit 12.0 Replaces the Rule of 72 and Introduction to Investing lesson plans!

  35. Introduction to Investing 1.12.1

  36. Financial Risk Pyramid Speculation Increasing potential for higher returns Increasing risk

  37. Types of Investment Tools

  38. Support Tools

  39. Any Questions?

  40. Credit Unit 4.0 *Edited Version Updated to reflect The Card Act legislation!

  41. 100% New Lesson Plan! Confessions of a Shopaholic 5.0.44

  42. Confessions of a Shopaholic 5.0.44

  43. Confessions of a Shopaholic 5.0.44 Confessions of a Shopaholic 5.0.44.A2 Have students complete during the movie Confessions of a Shopaholic is also a book!

  44. Lesson Plan Assessment • Create a new magazine about financial practices • Design a magazine cover • Write a magazine article • Magazine Article Creation rubric 5.0.44.B1 has guidelines The assessment is designed to provide students with the “choice” to determine a credit topic of interest to them

  45. Understanding A Credit Card 1.4.1 Take Charge of Your Finances * Edited Version

  46. Integrating Music • Keep in mind the following questions: • What do you believe is the overall meaning or purpose of the song? • What do the lyrics of the song mean to you? • How do you believe the lyrics relate to our current society? • The song that is going to be played is Ka’-Ching by Shania Twain

  47. AlternativeAnticipatory Set Participants view a short video clip regarding college student’s knowledge of credit The class then participates in a full discussion regarding the clip that they viewed and discussion prompting questions provided

  48. Vocabulary Reinforcement Step 1: Highlight on the Sample Credit Card Offer (see next slide) each of the vocabulary words Step 2: Choose 8 of the words highlighted that are unfamiliar and record in the word column Step 3: Using the Understanding a Credit Card Information Sheet record the definitions for each of the words in the definition column Step 4: Explain how the words are related to one another and then create a graphic organizer (see next slide)

  49. Examples Sample Credit Card Offer Example of a Credit Card Graphic Organizer

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