NEFE HSFPP High School Financial Planning Program Financial Education for a New Generation

1. NEFE HSFPP High School Financial Planning Program Financial Education for a New Generation

2. NEFE HSFPP High School Financial Planning Program Financial Education for a New Generation Presented by: Susan H. Gubing CareerSmarts Professional Development Consultant Buffalo State Instructor October 28, 2011 http://hsfpp.nefe.org/home/

3. www.teachersmarts.com/

4. Training Program Objectives • Establish basic financial literacy benchmarks • Identity Theft • Handling Debt and Bankruptcy • College & Career Ready • Explore the NEFE HSFPP materials • Examine NEFE FL instructional units • 21st Century instructional methods • Explore financial education resources

5. “Top 10" Financial Myths Held by 14- to 21-year-olds Video– Fool Proof Me.com http://www.foolproofme.com

6. “Top 10" Financial Myths Held by 14- to 21-year-olds • I don't have to worry about credit at my age • Bad credit can't keep me from getting a job • All loan companies have the same rates • All credit cards are alike • The job of financial advertising is to tell the truth Video– Fool Proof Me.com

7. “Top 10" Financial Myths Held by 14- to 21-year-olds • It's OK to bounce a few checks • It's OK to make minimum payments on a credit card • Paying late occasionally can't hurt my credit • Fine print isn't important • Young people don't have credit scores

8. Why is financial education important for teens?

9. Why is financial education important for teens? • They don’t always learn about FL at home • Lack of experience handling money • High level of personal debt among young people after high school • High bankruptcy rate among young people • Career decisions are affected by FL

10. Who is teaching financial literacy?

11. Who is teaching financial literacy? • K- 12 • College • Employers • Community Family Consumer Science Collaborate !

12. Financial Literacy Resources URLs on resource sheet

13. NEFE High School Financial Planning Program® HSFPP Content 1. Your Financial Plan: Where It All Begins 2. Budgeting: Making the Most of Your Money 3. Investing: Making Money Work for You 4. Good Debt, Bad Debt: Using Credit Wisely 5. Your Money: Keeping It Safe and Secure 6. Insurance: Protecting What You Have 7. Your Career: Doing What Matters Most Free!

14. What Should a 5 Year Old Know?

15. Financial Literacy Knowledge .. Insurance IdentityTheft Needs vs. Wants Savings Budgeting Debt/Credit Investing Career Choices Online Banking Check Writing

16. 5 - 11 Years Old Savings Identity Theft Needs vs. Wants Insurance Debt/Credit Budgeting 1/3 Rule Piggy Me You Check Writing Investing Online Banking Career Choices Money does not grow on trees!

17. 12- 14 Years Old Identity Theft Savings Insurance Needs vs. Wants Debt/Credit Budgeting Decisions You Make today affect your future. Check Writing Investing Career Choices Online Banking

18. 15- 18 Years Old Savings Identity Theft Needs vs. Wants Debt/Credit Budgeting\ Smart goals Insurance Career Choices Investing Online Banking Hard work pays dividends! Academic vs. Athletics Check Writing • Out of 100 9th graders: • 68 will graduate from high school • 40 will enter college directly • 27 are still enrolled in college in their second year • 18 will graduate from college in 6 years. • US Dept. of Education

19. Good Debt…..Bad Debt? College tuition + books + room + food + travel College debt should not be greater than your first yearly job salary.

20. College Cost Calculator How fast will your money grow? When will you be a millionaire? Compare Cost of Living in Two Cities

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22. Words of Wisdom From Our Parents

23. Words of Wisdom From Our Parents • Don’t spend money that you don’t have! • Pay yourself first! • Money does not grow on trees. • Save your money before your make a purchase! • Carry a “buffer balance” in your checkbook. • Save for emergencies! • A woman needs her own money. • Make a budget and follow it. • You can’t take it with you, but you can make people happy by leaving some behind. • Know the difference between a luxury and a necessity.

24. Financial Literacy andCollege & Career Ready

25. COLLEGE READY • Enter college ready to do college work – no remediation • Complete academic requirements and graduate within a reasonable time. • Plan and budget finances • Make decisions about career choices. • Exit college minus a mountain of debt.

29. Financial Literacy 21st Century Delivery of Content • Engage our Students • Interests • Aptitudes • Abilities • Learning Styles • Multiple Intelligences

30. NEFE High School Financial Planning Program® HSFPP Content 1. Your Financial Plan: Where It All Begins 2. Budgeting: Making the Most of Your Money 3. Investing: Making Money Work for You 4. Good Debt, Bad Debt: Using Credit Wisely 5. Your Money: Keeping It Safe and Secure 6. Insurance: Protecting What You Have 7. Your Career: Doing What Matters Most Free!

31. Instructor Manual Presentation Visuals Student Guide Certificate of Completion Online Training Data Disk Program Materials Take-Home Brochure Spanish Version http://hsfpp.nefe.org/home/

32. http://www.p21.org/

33. 20th Century Instruction Teacher – Lecturer……Student works independently. • 20th Century • Red brick school house • Class assignments • Homework assignments • Projects • Tests • Learning is restricted to the classroom

34. 21st Century Instruction Teacher – Facilitator……..Students Collaborate Engagement...Empowerment…Excitement • 21st Century • Classroom with no walls. • Group discussion • Individual application • Group application • Individual or group data recall assessment • Plus: • Internet research • Hands-on demonstration • Use of technology such as audio/video • Project based and/or authentic learning

36. Group Collaboration

37. NEFE High School Financial Planning Program Unit 1: Financial Plan Student Guide Instructor’s Guide PowerPoint Excel Files

38. 1: Your Financial Plan Target Competency: Create a personal financial plan. Learning Activities

40. Salary Quick Tips To compute your yearly salary…. multiply your hourly wage by 2 and then add three 000’s. For example: $10 an hour = $20,000 a year. To compute your hourly salary…. divide your yearly salary by 2 and then drop the three 000”s. For example: $30,000 a year = $15 an hour. To computer your weekly salary…. multiply your hourly salary by 4 and add a zero. For example: $8 an hour = $320.

41. NEFE High School Financial Planning Program Unit 2: Budgeting Student Guide Instructor’s Guide PowerPoint Excel Files

42. 2. Budgeting: Making the Most of Your Money Competency: Prepare a Personal Budget Project-based/Authentic Learning NYS CAREER ZONE – Creating a Budget Shipping Clerk - $22,000 NEFE Assignments: Expenses, Income. Saving, Building a Budget, Speakers: Accountant, Credit Union Videos: Bill Cosby, Saturday Night Live www.teachersmarts.com/money/videos.htm

45. Kick-off a topic with a video! Bill Cosby’s Financial Literacy Series BudgetingApartment LivingGetting A jobReferencesTheo Needs a Loan www.teachersmarts.com/money/videos.htm

47. Susan H. Gubing, CareerSmarts Professional Development Consultant Buffalo State Online Instructor

49. Key to Career and Personal Success