1. Making Cent$ A Family Financial Literacy Program
for James A. Shepherd Middle School

2. James A. Shepherd Middle School
Located in Durham, NC
Magnet International Baccalaureate Program
Total 496 students; 91% capacity
Racial Make-up:
82% African-American 15% Latino
1.6% White .2% Asian
Title I School (66.4% receive free lunch)
Source: dpsnc.net/about-dps/district-stats-and scores

3. School Improvement Plan Goal
SIP Goal: To ensure achievement of high academic performance by all students
System Targeted: Parents Community
Components: Parent involvement
Strategies: 2 Parent Nights
Source: dpsnc.net/images/pdf/school-improvement-plans/sip

4. What is Financial Literacy?
The ability to use knowledge and skills to manage one’s financial resources effectively for lifetime financial security.
Source: jumpstart.org
A 21st Century skill as outlined by the NC DPI*
Curriculum is currently being taught in Social Studies in NC schools
Source:

5. Why Financial Literacy?
34% of adults surveyed gave themselves a grade of C, D, or F for knowledge about their personal finances and felt like they could benefit from more financial education.
53% of teens surveyed said they would like to know more about managing money but only 27% of teens reported that their parents discussed money or banking concepts with them.
Source: Making a Case for Financial Literacy, 2011

6. Essential Components Financial literacy includes: Income and Careers
Money Management
Credit and Debt Care
Savings and Investing
Benefits of Banking

7. Best Practices
Materials are informative and do not promote a specific brand
Information is provided in an objective tone and provides differing viewpoints
Presenters use plain language appropriate for your target audience.
Technical terms are clearly defined.
Materials are culturally sensitive
Content is aligned with NC educational standards
Source: Jumspstart.org/best-practices.htlm

8. Program Description
Two family nights at school for parents and students for a family financial literacy program
RSVP required. Educational needs assessed before the first session via registration materials.
Program will be in two 90 minute modules
Sign-in sheet will be utilized
FDIC Money Smart curriculum (free) that provides scripts for teacher/trainers

9. Program Description Spanish speaking sessions provided if needed
An information packet with all training materials will be provided to each participant
Pre and post tests will be given to assess the efficacy of educational program
A variety of community partners (banks, credit unions, IDA programs) will be represented after the educational program

10. Planning Goals Income and Careers

11. Goals and Accountability

12. Money Management

13. Credit and Debt Management
Types of consumer credit
Purpose of a credit report
Credit management skills
Debt management skills
Ways to avoid and correct debt problems
Consumer credit laws

14. $aving$ Create different savings account Why Should I Save?
Emergencies are not predictable!
Write down all monthly expenditures
Look for ways to cut costs & grow income
Start young! Start now!
Set goals
Identify Savings Options
Recognize options that help you meet your goal
Create different savings account

15. Investing 401 K IRA Roth IRA Stocks Bonds Mutual Trust Funds
Real Estate

16. Check It Out! The Benefits of Banking
Major types of financial institutions (commercial banks, credit unions, etc.)
Reasons to use a bank
Different types of bank accounts and services
How to open a bank account
Review banking terminology to help compare services (i.e. APR, APY, ATM, minimum balance requirement, monthly fees, etc.)

17. Youth Bank Accounts Financial Institution Wells Fargo Bank
State Employees
Credit Union
North State
Bank
Type of:
Commercial bank
Regional Bank
Minimum to open the account
$100 to open
$5 to open
No minimum
Minimum
Balance
No minimum balance
$25
Monthly Fees
None
$1.00
Interest Rates
(APY)
0.5% 1%
.25%

18. A 21st Century Skill
“The financial preparedness of our nation’s youth is essential to their well-being and of vital importance to our economic future.” -Ben Bernanke, Chairman United States Federal Reserve, 2008