Financial Education-Adults Workshop Curriculum The National Economics Department, NAACP Financial Freedom Campaign Program Outline Total Workshop Time: 90mins I. II. Overview a. Purpose of workshop i. To provide accurate personal finance information so that attendees can make better fiscal decisions ii. To facilitate constructive dialog around sensitive financial matters iii. To direct participants to creditable resources b. NAACP’s Financial Freedom Campaign’s mission/ goals of implementing these program(s): 1. To educate and empower 2. To serve as advocates 3. To build capacity c. Benefits of attending this workshop 1. Access to accurate information 2. Opportunity to ask questions of an expert 3. Access to local and national resources 4. Opportunity to network with other people of similar backgrounds, etc. d. Ice Breaker i. Do you track your money? Activity Participants will provide an estimated percentage of where their income goes on a monthly/yearly basis. A short discussion will be had about the importance of knowing your spending patterns, etc. Personal Finance: Fundamentals a. Section 1:Banking Basics i. What is Credit? ii. Where does one get Credit? 1. What are the various forms of credit 2. Financial Institutions a. Credit Unions; Banks: etc b. Section 2: Developing a Spending Plan i. What is a spending plan? ii. How do I develop a spending plan? 1. Identify financial goals 2. Identify Income 3. Track your spending 4. Evaluate your income v. spending 5. Set Savings Goals c. Section 3: Managing Debt & Credit i. Tips on improving your credit score ii. New overdraft rules for debt and ATM cards iii. Organizational tools to help you manage your debt/credit Activity: Scenarios- Participants will evaluate the fictional incomes, spending patterns, and budgets of fictional characters and assess whether or not that character is financially stable III. IV. Planning for the Future a. Section 6: Saving and Investing i. A closer look at 401k, Roth IRA’s, Investment Portfolios ii. Basic Investment and Savings tips b. Section 7: Getting Insured i. What is Insurance? 1. Why is it important? ii. Basic types of insurance: 1. Homeowners insurance 2. Renter’s Insurance 3. Automobile insurance iii. Tips for purchasing insurance c. Section 8: Know Your Rights i. The latest credit card policies ii. Key consumer advocacy policies you should know about iii. Key Consumer financial privacy laws d. Section 9: Scams/Frauds i. What are the most common scams/frauds ii. Tips on how to protect your financial information Activity: (Self Assessment) Participants will write down five things they will incorporate into their personal finance plan as a result of attending the workshop e. Ask the Expert i. General questions 1. Participants write questions down on slips of paper, only those questions are answered) Closing a. Thank everyone for coming (including expert) b. Remind people to complete evaluation form c. Remind People to take home folders/packets and utilize information ______________________________________________________________________________________ Notes for Trainer Length: 1 hour 30 mins Probing Questions: Do you know how much you spend each week/month? Have you compared your monthly income to your monthly expenses? How do you decide what to spend on? Do you have a plan for saving and spending money? Learning Objectives: By the end of this workshop, participants will learn: Develop financial goals Develop a financial plan for the future Have the tools necessary to make better financial decisions Key Activities/Quizzes: Scenarios Self Assessments Materials & Preparation Included in each folder: PowerPoint Presentation Printout Note pad Handouts (Resource information) Worksheets Workshop Evaluation Form Expert ‘s Business Card