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NEFE High School Financial Planning Program

2. Why Financial Planning?. 3. Teens Have A Lot of Money and They Spend It!. $155 billion in 2000$172 billion in 2001$170 billion in 2002 . 4. Test Scores. YearsScore2002 50.2% 2000 51.997 57.3%. 5. Signs of Increasing Financial Vulnerability. More consumer credit delinquenciesSky-rocketing personal bankruptciesInadequate retirement savingsDecreasing personal savings rateLost workplace productivity due to financial problems.

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NEFE High School Financial Planning Program

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    1. 1 NEFE High School Financial Planning Program® Patrice Dollar,CFP Family Financial Management Specialist-University of Georgia Introduce Amy and have her say a few wordsIntroduce Amy and have her say a few words

    2. 2 Why Financial Planning?

    3. 3 Teens Have A Lot of Money and They Spend It! We get these statistics annually from Teenage Research Unlimited in Chicago, ILWe get these statistics annually from Teenage Research Unlimited in Chicago, IL

    4. 4 Test Scores Years Score 2002 50.2% 2000 51.9% 1997 57.3% Looking a little more closely at test scores: In the adult group: 49% received an F 20% passed with a D 15% scored a C 10% earned a B 6% excelled with an A In the student group: 66% got an F 13% managed a D 11% got a C 7% accomplished a B 3% excelled with an A Now don't you wish you knew what separated the top two groups from the bottom two groups? Unfortunately, that information was either not gathered or has not yet been shared.Looking a little more closely at test scores: In the adult group: 49% received an F 20% passed with a D 15% scored a C 10% earned a B 6% excelled with an A In the student group: 66% got an F 13% managed a D 11% got a C 7% accomplished a B 3% excelled with an A Now don't you wish you knew what separated the top two groups from the bottom two groups? Unfortunately, that information was either not gathered or has not yet been shared.

    5. 5 Signs of Increasing Financial Vulnerability More consumer credit delinquencies Sky-rocketing personal bankruptcies Inadequate retirement savings Decreasing personal savings rate Lost workplace productivity due to financial problems From the perspective of adults….From the perspective of adults….

    6. 6 The NEFE High School Financial Planning Program® We have always looked at the HSFPP as being a preventive programWe have always looked at the HSFPP as being a preventive program

    7. 7 Partners

    8. 8 What is the HSFPP? Fully developed personal finance curriculum Materials include instructor's manual, student guide for each student Easily integrated into math, social studies, economics, or family and consumer education classes

    9. 9 Purposes of HSFPP Learn the process Apply to their lives Begin taking control TODAYLearn the process Apply to their lives Begin taking control TODAY

    10. 10 HSFPP Curriculum is... comprehensive flexible easy to implement educational all materials free!

    11. 11 Easy Implementation Can be completed in as few as 10 class periods

    12. 12 Results of National Evaluation After completing HSFPP 54% saved money 38% achieved financial goals 35% tracked expenses 31% used spending plan 27% compared prices IT WORKS! It’s doing what we want it to do Bottom line is…IT WORKS! Refer to Greenspan’s remarks Economic educators…please raise handsIt’s doing what we want it to do Bottom line is…IT WORKS! Refer to Greenspan’s remarks Economic educators…please raise hands

    13. 13 New Instructor’s Manual Unit Description Learning Objectives Concept Lessons (1-3 per unit) Exams & Answer Key Go to IM, Unit 1, page 1—Unit Description Learning Objectives National Standards A variety of flexible lesson plans…intended to fit your many different schedules Where we will spend most of our time today will be with the “Learn By Doing” lesson plans… Concept Lessons Unit Project suggestions…community service learning (JROTC) Measurement…have they got it??? Visuals… Exam but also other suggestions for assessment tools Go to IM, Unit 1, page 1—Unit Description Learning Objectives National Standards A variety of flexible lesson plans…intended to fit your many different schedules Where we will spend most of our time today will be with the “Learn By Doing” lesson plans… Concept Lessons Unit Project suggestions…community service learning (JROTC) Measurement…have they got it??? Visuals… Exam but also other suggestions for assessment tools

    14. 14 National Standards Learning Objectives Cross referenced to National Standards Family and Consumer Economics Mathematics Social Studies-Economics National Standards/Benchmarks set by Jumpstart Coalition for Personal Financial Literacy

    15. 15 Lesson Plans Step-by-Step Plan outlines and visuals Learning by Doing 4-phase process Optional Unit Projects Service Learning Opportunities

    16. 16 Energizer Inquire Gather Process Apply Learning By Doing

    17. 17 NEFE High School Financial Planning Program® 6 Units

    18. 18 NEFE High School Financial Planning Program® Unit 1 Financial Planning: Your Roadmap

    19. 19 NEFE High School Financial Planning Program® Unit 2 Career: Labor You Love

    20. 20 NEFE High School Financial Planning Program® Unit 3 Budget: Don’t Go Broke

    21. 21 NEFE High School Financial Planning Program® Unit 4 Savings and Investments

    22. 22 NEFE High School Financial Planning Program® Unit 5 Credit: Buy Now, Pay Later

    23. 23 Instructions Unit 5 – Lesson 1 –Inquire “Give Me Credit” Choose a fun name for your group Pick one person to play the role of the “teacher” The rest of the group will be “students” Turn to page 299 in the Instructors Manual Follow instructions in the Instructors Manual You group has 10 minutes to present to the entire group.

    24. 24 Instructions Unit 5 – Lesson 1 –Gather “Credit Masquerade” Choose a fun name for your group Pick one person to play the role of the “teacher” The rest of the group will be “students” Turn to page 301 in the Instructors Manual Follow instructions in the Instructors Manual You group has 10 minutes to present to the entire group.

    25. 25 Instructions Unit 5 – Lesson 1 –Process “Let’s Break Down a Deal” Choose a fun name for your group Pick one person to play the role of the “teacher” The rest of the group will be “students” Turn to page 303 in the Instructors Manual Follow instructions in the Instructors Manual You group has 10 minutes to present to the entire group.

    26. 26 Instructions Unit 5 – Lesson 1 –Apply “Loan Ranger” Choose a fun name for your group Pick one person to play the role of the “teacher” The rest of the group will be “students” Turn to page 309 in the Instructors Manual Follow instructions in the Instructors Manual You group has 10 minutes to present to the entire group.

    27. 27 Reflection What did you learn that surprised you about how credit works? How do you feel about using credit? What advice would you give to someone who is about to use credit for the first time?

    28. 28 Reflection How does it feel to be “in the dark” when you are trying to get a particular piece of information? What strategies did you learn about asking questions? How can an activity like this help you learn to investigate credit offers you will receive after you graduate?

    29. 29 Reflection Which variable carried the most weight in your group’s decision-making process? Why? How can you use a credit analysis process like this in your own life? How would feel about committing yourself to two, three or four years of monthly payments? Which is more important to you: a smaller payment or paying less interest?

    30. 30 NEFE High School Financial Planning Program® Unit 6 Insurance: Your Protection

    31. 31 Personal Finance Web Sites http://www.nefe.org/webtraining/index.html www.nefe.org www.ntrbonline.org www.jumpstart.org www.cuna.org www.asec.org www.ecs.org www.kiplingers.com www.younginvestor.com www.ultra.zacks.com/invest101/ www.ihatefinancialplanning.com

    32. 32 Personal Finance Web Sites www.ftc.gov www.superstarinvestor.com www.ed.gov www.collegeboard.org www.nelliemae.org www.bankrate.com www.finaid.org www.Salliemae.com

    33. 33 The NEFE High School Financial Planning Program® Helping Students Make Their Dreams a Reality!!

    34. 34 Working together to increase the financial literacy of America’s youth!!

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