Financial Education

1
Welcome!

• Financial Education
• Teachers Academy
• June 18-20

2
Beginnings

• Sign in Sheet
• Rest Rooms / Snack Machines
• Welcome - Introductions of all
• Discuss Evaluations and Expectations
• Course
• Materials
• Students

3
Graduate Credit Option

• 15 Econ 539 Section 101
• 3 credits available for attendance and
  evaluations
• 50 reduced rate for teachers (195/hr)
• Grades posted in Summer
• See me for forms

4
Introductory Video

• State Farm Insurance
• Johnny Gullible
• Its not in your box
• FLIC Committee Report
• Sample course outlines
• Advance Standing Credit
• Certificate Program

5
Why Personal Finance

• NY Times Article
• Knowledge Works Statistics
• Facts on Savings (NEFE/Jump Start)
• SB 311
• Intent and goals
• Students in a global environment

6
Outline of 2 days

• Unit 1 Decision Making and Money
• Unit 2 Career Working and Earning
• Unit 3 Getting your moneys worth
• Unit 4 Credit
• Unit 5 Wealth Creation
• Unit 6 Protecting yourself

7
Unit 1

• Open your teachers manual to Unit 1 outline
• Look at the terms, Lets review
• What are the differences between needs and
  wants, Is this important to teach?

8
Maslows Hierarchy of Needs
Self- Actualization
Esteem Needs
Social Needs
Safety Needs
Satisfied
Physiological Needs
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CHOICES!

• Choices are important, Understanding Choices is
  the key!
• Choices revolve around Wants.
• Morris Funnel of Wants
• Financing your Future Video 2

10
Scarcity

• Gasoline is expensive!
• Who would rather have a car than ran on bottled
  water?
• 9oz. Evian 1.49 21.19 gallon
• 20oz. Generic .79 10 gallon
• Even tap water is not free! Does the world have
  excess drinking water?

11
Activities

• Planning the prom
• Find two partners and decide what choices you
  will make for prom given our budget
• Introduce your group
• Tell us your prom plans

12
Individual Activity

• Activity 2 Prepare a budget for Corny
• Choices, Choices, Choices

13
Activity Reviews

• First two activities introduced
• - Scarcity
• - Choices
• - Trade offs (cost/benefit)
• - Opportunity Costs

14
Introduction to Resources

• Open laptops
• Go to www.economicscenter.org
• Introduce and Explore links
• go to www.econedlink.org
• search for cost/benefit
• find are the best things in life free?
• - opportunity cost of freebies

15
Unit 1

• Return to terms in teachers manual
• - Any questions?
• Money
• - What are functions?
• - What are characteristics?

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Money

• - What are functions?
• - Store of Value, Medium of Exchange,
  Standard of Value
• - What are characteristics?
• - Familiar
• - Divisible
• - Acceptable

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Do we need a break?
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Comparative Economic Systems

• Why should we even introduce?
• - Poverty is relative
• - You dont know what youve got until its gone
• - We must teach appreciation for opportunities
  in this country

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Comparative Economic Systems

• Money Fluctuates in value
• Pass out Comparative sheets
• Work in groups to find data and complete sheets
  with info on the internet
• Complete the questions
• Report out and discuss Unit 1

20
Unit 2

• Show Risky Business Video 1
• - Complete assignment 1.1 while watching /
  discuss
• Do activities 1.2 and 1.3
• Discuss

21
Is it time for Lunch?

• Well walk to Center Court
• great buffet selections

22
Unit 2 continued

• Go to www.nefe.org
• you need to register to get into some
  information
• Look in NEFE book
• student page 100
• teacher page 206

23
Career Development Resources

• Ohio Career Information System
• http//ocis.ode.state.oh.us
• each district should have log in
• log in user name reading
• password ohiocis03
• Kuder

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Other resources

• www.thinkfinity.com
• formerly Marco Polo
• www.maping-your-future.org
• www.fefe.arizona.edu/curriculum.php
• Family Economics Financial Ed

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Taxes

• Pass out chart from www.irs.gov
• lesson 1 (with answers)
• Go through IRS ppt
• Free forms, tax lessons
• Fairness is a key issue to discuss
• Tax refunds are not lottery wins

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Unit 3

• Budgets
• Spending
• Saving
• Banking
• Philanthropy

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Budget Bead Game

• Find it in your box
• Read the instructions on the back
• Use your skittles

28
Visa Practical Money Skills for Life

• Find PMSFL, open it and insert disk now,
• Browse Unit 3, Budgets
• Student Activities (missing?)
• Budgets are not a one time activity
• Quicken or Money at home

29
Saving

• Find overhead 12A in PMSFL
• Savings/CD/Money Market Accts
• Ask students
• 82,000 or .01 doubled everyday for 30 days
• After 15 days about 10k
• After 34, over 1 billion

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Take the Savvy Spending Quiz

• www.moneycentral.msn.com
• - planning
• - savings
• - savings tools

31
Banking

• Find Virtual Economics CD Rom
• Visit www.ncee.net (scavenger hunt)
• On VE 3, find Financial Fitness for Life
• Student Version
• theme 5, exercise 21.1
• Introduces Banks, Checks, reading a statement,
  etc.

32
Financing Your Future DVD

• Unit 3 Get banked!
• Find Teacher Resources for Unit 3 on DVD-Rom and
  review.

33
Philanthropy

• www.learningtogive.org
• Visit site, view lessons, report out on
  something you find
• SAGE
• Students for the Advancement of
• Global Entrepreneurship

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More Philanthropy

• NEFE activity, teacher manual page 51
• In your teacher manual,
• Time Treasure activity

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DAY 2

• Reminder on available graduate credit
• Questions from Day 1?

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Credit

• PFMSFL Lesson 7
• NEFE Unit 4
• Activity 4G (pg 56 / 110)
• Pass out CPI sheet
• bridge to economics
• Review and Discuss ABCs brochure and Dude

37

• ARE YOU READY?
• I said, ARE YOU READY?
• READY for some FOOTBALL?
• Play Financial Football

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More Credit activities

• www.econedlink.org
• Credit activities
• My credit rating why should I care?
• Drag and Drop

39

• PFMSFL Unit 8 ppt and activities
• Virtual Econ FFL lesson 15
• Financing your Future Video 4
• Get into groups and review Activities for lesson
  4

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Break?

• Its time for Unit 5

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Wealth Creation

• Goal Setting / Budgets
• These units are not stand alone
• Go to NEFE page 7 / 15
• Take out a piece of paper and write down 3 SMART
  goals for yourself

42
Saving vs. Investing

• What is the difference?
• Time Horizons / Risk vs. Reward
• What a difference 2 makes
• - Credit rating / mortgage

43
Quiz Time

• Risk Factor / Money Style Quiz
• Must Introduce your students to terms and
  options, products like SMG
• Investment terms ppt

44
Does a product like SMG fit in your class?

• Perhaps it should
• Why?
• Brian Page can discuss in depth

45
Creating an Investment portfolio

• As a class, econedlink market guru activity,
  heres your chance..
• Asset allocation recommendations
• As individuals, lets make choices

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Other good investment points

• Rule of 72
• NEFE page 32 / 70
• Mutual funds
• NEFE page 33 / 71
• Investor Island simulation from ING

47
Is it time for lunch?

• Back to the buffet

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Unit 6 Protecting yourself

• Nothing in life is a sure thing
• Insurance
• Risk Responsibility Reality DVD
• The truth bell

49
Insurance Resources

• www.theiei.org
• Contest / folder
• www.ohioinsurance.org

50
Identity Theft

• www.ftc.gov
• Short video
• http//www.ftc.gov/bcp/edu/microsites/idtheft/vide
  o/avoid-identity-theft-video_higher-res.html

51
Laptop search

• Explore www.idtheftcenter.org
• Kids give away information all day long
• Myspace
• Blogs
• Facebook

52
Key Terms

• Teachers Manual pages 85-92

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Fraud

• www.ftc.gov
• scholarship scams
• Do we need to be paranoid?
• Careful and smart, Think before we act
• www.fraud.org

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Consumer Issues

• Pg 99 Teachers Manual
• Consumer Bill of Rights
• Visit www.consumer.gov and search for all that
  there is

55
Questions

• Time for Jeopardy?

56
Evaluations

• Course Evaluation
• Financing your Future Evaluation