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4-H Financial Champions September 2011 1. Marsha A. Goetting Ph.D., CFP ®, CFCS Professor & Extension Family Economics Specialist Department of Agricultural.

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Presentation on theme: "4-H Financial Champions September 2011 1. Marsha A. Goetting Ph.D., CFP ®, CFCS Professor & Extension Family Economics Specialist Department of Agricultural."— Presentation transcript:

1 4-H Financial Champions September

2 Marsha A. Goetting Ph.D., CFP ®, CFCS Professor & Extension Family Economics Specialist Department of Agricultural Economics & Economics 2

3 Why a 4-H Project in financial management is needed!!!!! 3

4 12% of population--MT (ages ) Census 2010 (ages ) Census ,848 4

5 Teens Have Resources-2011 Spend $18.50/weekSpend $18.50/week $962 per year$962 per year 5

6 Charles Schwab: 2011 Teens & Money Survey 86% of teens say they would rather learn about money management in class 86% of teens say they would rather learn about money management in class 6

7 Test Scores-2008 YearsScore % % % % 7

8 Topics Teens would like their Parents to talk about 44%: How to invest money 44%: How to invest money 42%: How to establish good credit 42%: How to establish good credit 34%: Their career aspirations 34%: Their career aspirations 33% How to budget money 33% How to budget money 8

9 4-H Financial Champions Curriculum Curriculum year olds year olds 9

10 2 Youth Booklets Money Fun- damentalsMoney Fun- damentals Book 1 Book 1 Money MovesMoney Moves Book 2 Book 2 10

11 Helpers Guide Personal Finance Helpers GuidePersonal Finance Helpers Guide 44 pages 44 pages 11

12 Ordering Information 4-H Mall 4-H Mall 3 Booklets 3 Booklets Cost $12.00 plus shipping Cost $12.00 plus shipping Shipping =$3.95 one set Shipping =$3.95 one set 12

13 Experiential Learning Model Try activity before being told or shown how Try activity before being told or shown how 13

14 Money Fun-damentals Book 1 Book 1 28 pages 28 pages 6 Activities 6 Activities 14

15 Money Fun-damentals Book 1: A Youth Guide for Learning about Money Book 1: A Youth Guide for Learning about Money Name______________ Name______________ 15

16 Money Fun-damentals Life Skills Life Skills Decision MakingDecision Making Managing YourselfManaging Yourself 16

17 Activity #1: p. 2 Your Money PersonalityYour Money Personality 17

18 The Bottom Line: Book 1: p. 2 Book 1: p. 2 Youll better understand what motivates your money decisionsYoull better understand what motivates your money decisions 18

19 Money Personality Profile: p. 3 GeneralGeneral ShoppingShopping Eating OutEating Out LifestyleLifestyle SavingSaving GiftsGifts 19

20 Financial Families p. 4 Frank & Frances Frugal Frank & Frances Frugal Patricia & Paul Pleasure Patricia & Paul Pleasure Sergio & Sasha Success Sergio & Sasha Success Nicole & Ned Not Important Nicole & Ned Not Important Pedro & Pamela Powerful Pedro & Pamela Powerful Sharise & Steven Self-Worth Sharise & Steven Self-Worth 20

21 Abe Lincoln: Talk it over p. 5 Helper, parent or friendHelper, parent or friend 21

22 Share Questions: p. 5 Talking Money with the Champions Talking Money with the Champions 22

23 Process Questions: p. 5 Champions Maneuvering Money Champions Maneuvering Money 23

24 Generalize Questions: p. 5 Making Cents with the Champions 24

25 Apply Questions: p. 5 Financial Champions: Heroes for Life 25

26 Champions Challenge p. 5 Provides youth more ways to deepen their understanding of the activity Gray box 26

27 Champions Challenge p. 5 Have family member & best friend take the quizHave family member & best friend take the quiz 27

28 Pocket Change Phrases & quotes about personal finance p. 5 Phrases & quotes about personal finance p. 5 Pocket Change 28

29 Book 1: p. 5 Pocket Change The highest use of capital is not to make more money, but to make money do more for the betterment of life.The highest use of capital is not to make more money, but to make money do more for the betterment of life. Henry FordHenry Ford 29

30 Activity #2: p. 6 I Need It, Want It I Need It, Want It Learn how needs & wants affect financial decisionsLearn how needs & wants affect financial decisions 30

31 Activity #3: p. 10 Money MotivatorsMoney Motivators Learn why you make financial decisions & how to deal with them Learn why you make financial decisions & how to deal with them 31

32 Activity #4: p. 15 Money Talks Money Talks Learn more about money & communication Learn more about money & communication 32

33 Activity #5: p. 19 Get Smart Get Smart Learn how to plan for financial success by setting goals Learn how to plan for financial success by setting goals 33

34 Activity #6: p. 22 Show Me the Money Show Me the Money Learn how a money plan affects your financial success Learn how a money plan affects your financial success 34

35 Achievement Program: p. 26 Complete all 6 activities Complete all 6 activities 2 Champions Challenge 2 Champions Challenge 2 Leadership Experiences 2 Leadership Experiences Helpers Initials Helpers Initials 35

36 Leadership Experiences p.27 Presentations/Demo Presentations/Demo Exhibits Exhibits Speech Speech Community Service Community Service Field Trip Field Trip Invite Speaker Invite Speaker 36

37 Achievement Program Guidelines When filled out, Copy p. 26 & 27 When filled out, Copy p. 26 & 27 Place in 4-H Record Book Place in 4-H Record Book 37

38 Money Fun-damentals Achievement Program Certificate 38

39 Glossary Definitions Book 1 Book 1 p. 28 p Definitions 23 Definitions 39

40 Glossary Activity Word--write a definition Definition-- write the word 40

41 Money Fun-damentals Book 1 Book 1 Questions Questions 41

42 Money Moves Book 2 Book 2 40 pages 40 pages 8 Activities 8 Activities 42

43 Money Moves Book 2 Book 2 A Youth Guide for Saving, Spending & Other Money Skills A Youth Guide for Saving, Spending & Other Money Skills Name______________Name______________ 43

44 Money Moves Skills Skills How to acquire & evaluate informationHow to acquire & evaluate information 44

45 Activity #1: p. 2 Taking Care of Your MoneyTaking Care of Your Money Learn ways of handling moneyLearn ways of handling money 45

46 Activity #2: p. 6 Turning Cents into DollarsTurning Cents into Dollars Learn how interest is calculated on saving & savings optionsLearn how interest is calculated on saving & savings options 46

47 Credit Cards 47

48 Credit Card Average balance Average balance $1,825 bank credit card$1,825 bank credit card 18% APR 18% APR 48

49 Credit Card Pay $28 minimum payment Pay $28 minimum payment How long to pay off?????? How long to pay off?????? 49

50 $28 monthly payment 21 years 21 years 16 years 16 years 11 years 11 years 5 years 5 years 50

51 Interest Paid $5,325 $5,325 $3,460 $3,460 $2,377 $2,377 $956 $956 51

52 Interest Charges $28 = $5, $29 = $3, $32 = $2, $46 = $ yrsinterestpayment 52

53 Activity #4: p. 15 Check it Out Check it Out Learn how to manage a checking account Learn how to manage a checking account 53

54 MSU Check Register Tracking System MontGuide

55 Activity #5: p. 22 Selecting Financial ServicesSelecting Financial Services Learn the basics of how to select financial services Learn the basics of how to select financial services 55

56 Activity #6: p. 25 It All Ads Up It All Ads Up Learn to evaluate advertising & how to use it to make better purchasesLearn to evaluate advertising & how to use it to make better purchases 56

57 Activity #7:p. 28 You Be the Judge You Be the Judge Learn how to make decisions & evaluate information in the marketplace Learn how to make decisions & evaluate information in the marketplace 57

58 Activity #8: p. 31 Shop Til You Drop Shop Til You Drop Learn how to make good decisions when shoppingLearn how to make good decisions when shopping 58

59 Achievement Program: p. 34 Complete 5 of 8 activities Complete 5 of 8 activities 2 Champions Challenge 2 Champions Challenge 2 Leadership Experiences 2 Leadership Experiences Helpers Initials Helpers Initials 59

60 Leadership Experiences: p. 35 Presentations/Demo Presentations/Demo Exhibits Exhibits Speech Speech Community Service Community Service Field Trip Field Trip Invite Speaker Invite Speaker 60

61 Glossary Words Book 2 Book 2 Pages 36-37Pages definitions45 definitions 61

62 Money Moves Book 2 Book 2 Questions Questions 62

63 Helpers Guide Personal Finance Helpers Guide Personal Finance Helpers Guide 44 pages 44 pages 63

64 Table of Contents: p. 1 8 Activities to enhance or expand concepts learned in youth guides 8 Activities to enhance or expand concepts learned in youth guides 64

65 Brief Overview p. 2 Money Fun- damentalsMoney Fun- damentals Book 1 Book 1 Money MovesMoney Moves Book 2 Book 2 65

66 Experiential Learning Model P. 3 P. 3 Learn by doingLearn by doing 66

67 Ages & Stages of Youth: p. 4 Grades Grades Ages Ages

68 Young Teens: p year olds year olds Rapid changes in growthRapid changes in growth Small groupsSmall groups Self definitionSelf definition 68

69 Mid-Teens: p year olds year olds Absorbed in themselves & peer groupsAbsorbed in themselves & peer groups Thoughts about futureThoughts about future Set goals based on personal needs & prioritiesSet goals based on personal needs & priorities 69

70 Objectives p. 6 Youth will learn Personal Finance Skill to Practice Success Indicator 70

71 What You Need: p. 8 Time involved Suggested Group Size Materials Needed 71

72 Background Information for Each Activity p. 8Advertisement Actionp. 8Advertisement Action p. 14Before and afterp. 14Before and after p. 19Shopping Cents Field Tripp. 19Shopping Cents Field Trip Green Box 72

73 Activity #1: p. 6 At Your ServiceAt Your Service Identify services in communities & learn how to evaluate them as consumersIdentify services in communities & learn how to evaluate them as consumers 73

74 Activity #2: p. 8 Advertising Action Advertising Action Create Advertisement Create Advertisement 74

75 Activity #3: p. 12 Take a StandTake a Stand Form opinions about debt, credit & loansForm opinions about debt, credit & loans 75

76 Activity #3: p. 13 Line ContinuumLine Continuum Strongly Agree Strongly Disagree 76

77 Activity #4: p. 14 Before & After Before & After Identify money mgt experiences & sharing them Identify money mgt experiences & sharing them 77

78 Activity #5: p. 16 Conducting a Quiz Bowl Conducting a Quiz Bowl 78

79 Activity #6: p. 19 Shopping Cents Field Trip Shopping Cents Field Trip 79

80 Activity #7: p. 24 Go for the Goal Go for the Goal Identifying goals & sharing opinionsIdentifying goals & sharing opinions 80

81 Activity #8: p. 26 Money In, Money OutMoney In, Money Out Recognizing income sources & expensesRecognizing income sources & expenses 81

82 Make it Fun: p. 29 More Group Activities More Group Activities 82

83 Ice Breakers: p. 29 Money Puzzle Partners Money Puzzle Partners Price is Right Price is Right Financial Popping Financial Popping 83

84 More Group Activities: p. 29 Freeze Frame Freeze Frame Clip it, Glue it Clip it, Glue it Ad Thoughts Ad Thoughts 84

85 More: p. 30 Role Play/ Charades Role Play/ Charades TV or Movie Diary TV or Movie Diary Glossary Games Glossary Games 85

86 More: p. 30 Career Shadows Career Shadows Banker, auditor, credit counselor, financial planner Banker, auditor, credit counselor, financial planner 86

87 More: p. 31 Can of Squirms Can of Squirms Financial Squirms Financial Squirms 87

88 $$$ Squirms Discuss your squirm with person sitting next to youDiscuss your squirm with person sitting next to you 88

89 Activity Write a short financial squirm for ages Write a short financial squirm for ages Be sure to put your name on back.Be sure to put your name on back. 89

90 Winner????? Financial Squirms Financial Squirms 90

91 More: p. 31 Crazy MatchesCrazy Matches Make Mine a PuzzleMake Mine a Puzzle 91

92 Financial Drama Volunteers Youre on!!! Youre on!!! 92

93 Financial Planning Drama p

94 Financial Planning Drama JudgeJudge ChorusChorus 94

95 Activity Ideas: p 37 Presentations/Demo Presentations/Demo CareersCareers Write a CheckWrite a Check Use a financial calculatorUse a financial calculator 95

96 Field Trip: p. 37 Bank Bank Insurance Insurance Investment Investment 96

97 Community Service Ideas p. 37 Read Money Related Stories at Library Read Money Related Stories at Library Money on BookshelfMoney on Bookshelf 97

98 Exhibit Ideas p. 37 Comparison Shopping Comparison Shopping 98

99 Leadership Opportunities Organize local America Saves program Organize local America Saves program 99

100 Answers p Money Moves Money Moves Book 2 Book 2 Turning Cents into DollarsTurning Cents into Dollars State Capitol, Here I ComeState Capitol, Here I Come Charging upCharging up 100

101 Additional Resources: p. 41 Print Resources for Educators Print Resources for Educators Sites for educatorsSites for educators Sites for StudentsSites for Students 101

102 Academic Standards: p. 43 Family & Consumer Sciences Family & Consumer Sciences Economics Economics Personal Finance Personal Finance 102

103 Financial Champions Web Game u.edu/4H/FinancialCham pions/default.htm u.edu/4H/FinancialCham pions/default.htm 103

104 Financial Champions Academy 104

105 Financial Champions 105

106 Financial Champions 106

107 Montana Financial Champions Web Site 107 financialchampions/index.html

108 4-H Financial Champions September


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