1. Saving Through Tax Refunds:
Florida Prosperity Partnership
May 31, Wednesday
3 to 4 PM
Saving Through Tax Refunds:
Helping Low- to Moderate-Income Americans Reach Their Saving Goals
Use limitations: These materials may be used only for nonprofit, noncommercial educational purposes. These materials may not be used in connection with any sale, advertisement, endorsement, or promotion of any service, product, person, or business and may not be sold or offered for sale. 1

2. Welcome & Introductions
Introduce yourself and express your pleasure at having the opportunity to help adult learners imagine a new life.
Have participants introduce themselves and, if they are comfortable, briefly explain why they are there.
?Ask participants: “What is holding you back?” Write some of the answers on the board, expecting answers such as lack of money, childcare, and time.
Explain how information in the workshop will help them overcome any obstacles. For example, financial aid can ease concerns over money.
Note that you will be using the term “college” as shorthand for all forms of continuing education.

3. Program Overview Mission
Help VITA clients save money through their tax refunds. 3

4. Takeaways/Action Items
Examples could include: Carrying only one credit card, have a backup plan to restore lost items, Review credit card and bank statements on designated date monthly.

5. Program Overview Message
Adopting saving habits is a process.
Before building assets (saving money), clients may need success in other areas of their lives. 5

6. Program Overview Message (continued)
Clients may want to:
Purchase a car to get to a better job.
Visit a doctor to improve a health condition.
Live in a better neighborhood with better schools. 6

7. Program Overview Message (continued)
Pay off debt.
Take any action that will lead clients to improve their financial well-being and eventually to build assets. 7

8. Empathy Map: How do you feel about Money?

9. How do you feel about money?
I want to know what you think about money. Why is it important to you? What reminds you about money? What do you think when you see money? Why does money have power over your life? Take a couple of seconds and put something on a sticky note on this poster.

10. Program Overview Your Role
When meeting with clients, your role is to:
Guide clients further down their paths to financial well-being.
Encourage them to start saving now with their tax refunds. 10

11. Program Overview Audience
Live paycheck-to-paycheck and have little-to-no room for error in financial decision making.
Tend to be unbanked (using alternative financial services or AFS only) or underbanked (using a combination of AFS and mainstream financial services). 11

12. Program Overview Audience (continued)
Understand that using AFS is expensive.
Use AFS for immediate relief to financial emergencies.
Some may not know lower-cost alternatives are available through financial institutions. 12

13. Program Overview VITA Client Demographics
Majority are single women with children.
Age range somewhat evenly split among 20-, 30-, 40-, 50-, and 60-year-olds. 13

14. Program Overview VITA Client Demographics
Caucasian: 42 percent
African American: 27 percent
Hispanic or Latino: 22 percent
Asian/Pacific Highlander: 5 percent
American Indian/Alaskan Native: 1 percent 14

15. Possible Client- Meeting Outcomes
Raise awareness of how money is spent and identify spending leaks.
Learn from poor choices made in the past.
Convey the big picture of personal finances and create a spending plan (budget). 15

16. Skipping the Scams
Con artists target students with Internet phishing, job and money wiring scams and scholarship search services.
You should not have to pay money to get money.
If something sounds too good to be true, it probably is.
Explain that con artists often target students, especially international students, with financial scams such as:
Internet phishing—such as requests to confirm your bank account number or password.
Job scams—including the infamous “Make millions from home!”
Money wiring—such as “I’m stranded on vacation.”
Scholarship search services—the information is available for free.
Emphasize that remembering two things will help participants avoid falling victim to scams:
You should not have to pay money to get money.
If something sounds too good to be true, it probably is.
See more signs of scams on the Scams and Identity Theft tab at

18. Dealing with Identity Theft
Identity theft is expensive, time consuming, and stressful.
Protect personal papers and online accounts.
Review bills, statements, and credit reports.
Report identity theft immediately:
Request a fraud alert.
Create an Identity Theft Report at
?Ask participants if anyone has a story about identity theft to share. If not, describe how stressful it might be if your bank accounts were suddenly empty, you could no longer qualify for credit, and creditors were calling you all day. Then imagine if this went on for years as you tried to unravel the problem.
Explain that being a victim of identity theft can be expensive, time consuming, and very stressful. There are three keys to dealing with identity theft: protecting, spotting, and reporting.
Note that consumers need to protect their identity on paper and online.
Store important papers in safe places, shred trash that includes identifying information, use secure mailboxes when possible, and don’t provide personal or financial information on the phone or through .
Create secure passwords, don’t store login and password information in browsers on public computers, and never respond to s requested personal or financial information.
Remember that banks and businesses should not contact you for your information—they know your account number and address.
Explain how to spot identity theft by regularly reviewing personal financial information:
Review your bank statements and credit card statements at least monthly for purchases you did not make.
Review all three credit reports for accounts you did not open and other suspicious spending at least one a year.
Watch for mail or about address changes you did not make.
Take notice of bills that stop arriving—this may be a sign that someone is intercepting your mail.
Emphasize that participants must take immediate action at the first signs of identity theft.
First, call one of the three credit reporting companies and request a fraud alert. Find details at
Second, create an Identity Theft Report. Find details on the Federal Trade Commission website at Click the Privacy & Identity link.
?Ask participants if they have any more questions about managing money before you move on to talking about paying for college.

19. Financial Scavenger Hunt
How safe is your money?
How safe is your identity?
What do you do to save money?
Financial Scavenger Hunt (Slide 9)
(2) Explain that participants can enjoy a fun competition while they learn about keeping their money and their identity safe.
To demonstrate this, divide participants into two or three teams (depending on the total number of participants). Ask each team to elect a team spokesperson‑that person will be the player for their team.

20. Possible Client- Meeting Outcomes (continued)
Compare the costs of AFS to mainstream financial services.
Compare VITA services to refund anticipation loans (RALs).
Raise awareness of Individual Development Account (IDA) programs for saving. 20

21. Possible Client- Meeting Outcomes (continued)
Use IRS Form 8888 to allow clients to deposit a refund in three separate accounts and purchase saving bonds.
Help client open a savings account and save part of a refund. 21

22. Possible Client- Meeting Outcomes (continued)
Get clients to use direct deposit for their refunds.
Ask if client wants to purchase savings bonds.
Illustrate how saving even small amounts adds up over time.
Remind clients they can start saving anytime—not just at tax time. 22

23. Client Meetings The Process
Conduct client interviews while you review the intake form and before you begin completing the tax return.
An interview script is provided for the workshop.
The script is a guide to customize to each client’s needs. 23

24. Client Meetings The Process (continued)
Pick scenarios in the script to discuss with clients based on how they answer initial questions about saving.
Review and complete activities with clients. 24

25. Client Meetings The Process (continued)
Complete the client’s tax return.
Reiterate financial or savings goals.
Implement what you and your client discussed—one of the possible Client-Meeting Outcomes. 25

26. Client Meetings Preparation (continued)
Become familiar with the activities included with the workshop materials.
Because of time constraints, you may have to pick and choose parts of the activities to go over with your clients— or even send them home with them. 26

27. Government Savings Bonds
Clients can invest part of their refund in a savings bond. They might be thinking:
I do not have a bank account so I do not have access to certain savings vehicles.
I do not understand or trust complex saving and investing tools.
I need a trusted savings method that does not require a large initial amount. 27

28. Government Savings Bonds
(continued)
To invest in a savings bond:
Low $50 minimum.
No credit screen.
Purchase a bond through their federal tax return using IRS Form 8888. 28

29. Government Savings Bonds
(continued)
Risk-free principal.
Government backing.
No fees, solid return.
Bank account not required.
Earn interest for 30 years.
Can access after 12 months. 29

30. Government Savings Bonds
(continued)
Buying bonds promotes saving.
Add co-signers, such as children or grandchildren.
Easy to access when the money is needed. 30

31. Government Savings Bonds
(continued)
Speak with your tax preparer.
VITA representatives can help as well. 31

32. Prepaid Cards Work very much like a debit card.
Require sufficient funds in the account to make purchases.
Not really “credit cards” at all, but can be used like them. 32

33. Prepaid Cards (continued)
Typically used when recovering from bankruptcy or while repairing credit.
Encourage clients to use these if they cannot get credit cards. 33

34. Summary What is your role in this program?
What are some of the possible Client-Meeting Outcomes?
Encourage clients to save now using IRS Form 8888. 34

35. Summary (continued) Describe the client meeting process.
What do you need to do to prepare for client meetings?
Can you explain savings bonds and prepaid/debit cards? 35

36. The National Endowment for Financial Education is . . .
A nonprofit, noncommercial, independent, 501©(3), self-funded, private foundation based in Denver Colorado.
The National Endowment for Financial Education (NEFE) provides financial education and practical information to people at all financial stages. NEFE believes that regardless of background or income level more financially informed individuals are better able to take control of their circumstances, improve their quality of life, and ensure a more stable future for themselves and their families. You can find this information about NEFE as we call ourselves on

37. Tools & Strategies for Community Financial Literacy Programs
November 18, 2011
NEFE Overview
We Serve . . .
Youth up to retired adults
Particularly “underserved”
People in difficult or unusual life circumstances
We Provide. . .
Grants for research about the field of financial literacy
Resources for consumers, educators, and facilitators
We Partner with . . .
Coalition of Adult Basic Education
Habitat for Humanity
American Indian College Fund
American Red Cross
Dress for Success
Generations United
Others . . .
Whether you are a financial planning professional, social service expert, community volunteer or financial educator, teacher or college professor, we have resources to help you facilitate financial education workshops or classes in your classroom and your community and evaluate your success.

38. Take Out Your Cell Phone

39. Financial Workshop Kit
Tools to enhance effectiveness
Customizable programs and presentations
Content
Delivery
Each workshop consists of
Presentation
Script (facilitator's guide)
Handouts
Other resources
FAQs
Relevant information for audiences
Customizable workshop kits are organized by topic area and include PowerPoint presentations, scripts, handouts, and other resources you might find helpful. Additionally, we provide answers to frequently asked questions about how to effectively reach your specific audience.

40. About Financial Workshop Kits
Video
About Financial Workshop Kits
Here’s a short video to summarize everything about Financial Workshop Kits.

41. Call to Action
Sign up for free quarterly newsletter at www. FinancialWorkshopkits.org.
Curious about webinar, me at
Share this information with a colleague.
Consumer resources:
Consumer.gov:
Federal Trade Commission: Consumer Information:
Smart About Money:
College and financial aid resources:
Federal Student Aid:
World Education:
National College Transition Network:
College for Adults:

42. Any Additional Questions

43. Thank You Jeannette Schultz (303) 224-3502 Jeh@nefe.org
The National Endowment for Financial Education (NEFE), appreciates your participation during this employee-oriented workshop. NEFE strives to empower educated financial decision making for all.
Jeannette Schultz
(303)