Presentation on theme: "Financial Peace for YOUR Students!"— Presentation transcript:
1Financial Peace for YOUR Students! Financial Peace for the Next GenerationFinancial Peace for YOUR Students!Jim KingCurriculum Department LeaderDave Ramsey’s OfficeThe Lampo Group, Inc.
2Financial Peace for the Next Generation Welcome!Thank you!
3Financial Peace for the Next Generation Goals for Today…Fired up to teach Financial LiteracyBenefits to…IndividualSchool (retention, default rates, graduation rates, academic success)Community
4Financial Peace for the Next Generation Authored 3-NYT BestSellers: Financial Peace, More than Enough, and Total Money MakeoverNationally syndicated Radio Talk-Show Host in over 300 radio marketsFeatured on 60 Minutes, The Early Show, The 700 Club and Good Morning American, among othersHis school education curriculum – Financial Peace for the Next Generation
5Curriculum Department Financial Peace for the Next GenerationCurriculum DepartmentMission“Empowering students to make sound financial decisions for LIFE.”
6What does Financial Peace really mean? Financial Peace for the Next GenerationWhat does Financial Peace really mean?“NEVER worry about money”“OWNING a home”“EDUCATION for my kids”“RETIREMENT”“AMERICAN DREAM”
7Financial Peace for the Next Generation Candy Time!
8Who Wants to be a Millionaire? Kit Kat Financial Peace for the Next GenerationWho Wants to be a Millionaire? Kit KatStatistically speaking, you represent a portion of society that adheres to the game plan, avoids debt, invests early, and is wise with their resources.
9Debt Free & Living Large! Smarties Financial Peace for the Next GenerationDebt Free & Living Large! SmartiesYou received a college scholarship, paid cash for your car, your house is paid off, and you have a fully-funded emergency fund.You started saving for retirement a little late, but other than that you’re looking good.
10Normal, Broke, Busted & Disgusted! Hard Candy/Mint Financial Peace for the Next GenerationNormal, Broke, Busted & Disgusted! Hard Candy/Mint23 year old college graduate.Total debt is $30K ($16K car loan, $10K student loan, $4K credit card).Annual income is $25K.It will take you 70 months or 6 years to pay-off your $30K debt.
11Bankrupt – Zero – Zilch – Nada! Dum Dums Financial Peace for the Next GenerationBankrupt – Zero – Zilch – Nada! Dum DumsThe American Dream.Married, 26 years old, 2 kids, and a dog.You and your spouse bring debt to the marriage totaling $60K.$32K car loan, $20K school loan, $8k credit card.Annual income is $50K.It will take you 193 months (or 16 years) to pay off your $60K debt.You are now 42, no money in the bank, and kids need to go to college.90% of divorces stem from financial disagreements.
12Financial Peace for the Next Generation Death by Visa! M & M’sSame as the American Dream, however add another $100,000 in credit card debt.Too much pressure, you lose hope and commit suicide.The #1 cause of male suicide is financial stress.
14Financial Peace for the Next Generation The Problem…
15Financial Peace for the Next Generation High school seniors scored an average of 52.4% on a basic financial survey.(Jump$tart Coalition for Personal Financial Literacy, 2006)
16Financial Peace for the Next Generation TRU (Teenage Research Unlimited), the nation’s foremost researcher specializing in the teen market, supplies information to Mastercard, Visa, Capital One, etc.The research is used to target teens, to get a card in their hand and to create brand loyalty for their card.
17Financial Peace for the Next Generation Persons entering college are offered an average of 8 credit cards in their first week of school.- Jump$tart Coalition for Personal Financial Literacy, Annual Summary
1825 to 50 Financial Peace for the Next Generation Number of Credit Card solicitations students receive per semester…25 to 50*according to United College Marketing Services
19Financial Peace for the Next Generation A major success of the credit card industry’s marketing campaign is in persuading students that they can only build a good credit history with credit cards. This is simply not true.* Robert D. Manning, Author of Credit Card Nation
20Financial Peace for the Next Generation College-Branded Credit Cards include an agreement between the credit card companies and colleges where the college receives bonus payouts once balances reach certain levels.-NewsChannel 5, Nashville, TN – November, 2006
21Financial Peace for the Next Generation The Outcome…
22Financial Peace for the Next Generation According to VISA USA, 49% of college-age adults believe they are more likely to become millionaires by…Reality ShowBudget & Save
23Financial Peace for the Next Generation Percentage of college students with credit cardsOver 80% of undergraduates have at least oneNearly 50% have 4 or more, and according to the Department of Education, the average balance carried by these students is more than $3,000.- Senator Chris Dodd, CT
24Financial Peace for the Next Generation A study by Robert D. Manning says:Three out of five students with credit cards max them out during their freshman year.Three out of five freshmen with multiple cards used bankcards to pay for other revolving credit accounts.Nearly three-fourths of students use their student loans to pay for their credit cards.
25Financial Peace for the Next Generation Loans to Payback = NO Degree Half of all entering freshmen borrow, and more than 20% of borrowers drop out!Loans to Payback = NO Degree-National Center for Public Policy and Higher Education
26Financial Peace for the Next Generation According to American College Testing (ACT)1 in every 4 students leaves college before completing sophomore year!
27Financial Peace for the Next Generation Top Reasons Studentsdrop-out of college…MoneyHomesick/Home NeedsPoor Academic Performance due to Poor Prep or Inattention*Study by University of Boulder
28Financial Peace for the Next Generation More students drop-out of college due to financial pressure than academic pressure.*according to United College Marketing Services AND several college administrators!
29Financial Peace for the Next Generation The Consumer Federation of America relayed the story of a University of Oklahoma freshman named Trish Johnson who applied for three credit cards during her first semester – and charged up to her credit limit on all three. After losing her part-time job in December, 1997, she committed suicide in her dorm room with her checkbook and $2,500 worth of bills spread out on her bed.Although suicide is rare, bankruptcy and dropping out of school to work off credit card debt are not.
30Financial Peace for the Next Generation Average college student graduates with:$27,000 in student loan debt$6,000 in credit card debt
31Financial Peace for the Next Generation 19% of all bankruptcies are filed by college students (ages 18 – 24).Fastest growing group of bankruptcy filers are those who are 25 years of age or younger. – Senate Committee on Banking, Housing and Urban Affairs
32have filed for bankruptcy than graduated from college. Financial Peace for the Next GenerationSince 1997 more peoplehave filed for bankruptcythan graduated from college.
33Financial Peace for the Next Generation The Solution…
34FINANCIAL PEACE FOR THE NEXT GENERATION Designed by educators for educators!Easy to implement!
35Financial Peace for the Next Generation 4 Keys of SuccessSimpleEducationalEntertainingReal Value
36Financial Peace for the Next Generation Curriculum Highlights Dave teaching via DVDShort segmentsChapters are stand-alone
37Financial Peace for the Next Generation Teacher’s Pack Includes: 7 Disc Media Library:12 Lessons on 4 DVDsTeachers Guide on CD-RomReality Bytes Audio CDBonus DVD1 year subscription to
38Financial Peace for the Next Generation SPECIAL FEATURES OF TEACHER’S GUIDE(CD-ROM)Chapter Lesson PlansChapter quizzes & keys4 Unit tests & 1 final with keysObject lessons & activitiesReview Keys for Student WorkbookSpecial Power Point Presentations for Each Chapter
39Financial Peace for the Next Generation Student MaterialsSoft Cover Workbookor.PDF Workbook
41Financial Peace for the Next Generation CHAPTER TITLES:UNIT 1Chapter 1 Super SaversChapter 2 Understanding InvestmentsChapter 3 Retirement and College PlanningUNIT 2Chapter 4 Cash Flow PlanningChapter 5 Dumping DebtChapter 6 Relating With MoneyUNIT 3Chapter 7 Buying Only Big, Big BargainsChapter 8 Buyer BewareChapter 9 Understanding InsuranceUNIT 4Chapter 10 Real Estate and MortgagesChapter 11 Careers and Extra JobsChapter 12 Collection Practices and Credit Bureaus
42Financial Peace for the Next Generation ImplementationWest KY Community and Technical CollegeKCTCS GE101James Madison UniversityWallace State Community College (AL)Missouri Western State University
43Financial Peace for the Next Generation Benefits of Program…Student becomes a wise-consumerStudent positively contributes to their communityIncreased academic success and graduation ratesIncreased Retention in CollegeLower student loan default rateStudents fired-up and interested in materialImproved community and nation
44Financial Peace for the Next Generation The Curriculum Department To Make A DifferenceContact:The Curriculum Department