4-H
Financial
Champions
September 2011
1
Marsha A. Goetting
®
Ph.D., CFP , CFCS
Professor & Extension Family
Economics Specialist
Department of Agricultural
Economics & Economics
2
Why a 4-H Project
in financial
management is
needed!!!!!
3
12% of population--MT
(ages 10 - 19) Census 2010
127,848
4
Teens Have
Resources-2011
•Spend
$18.50/week
•$962 per year
5
Charles Schwab: 2011
Teens & Money Survey
• 86% of teens say
they would rather
learn about money
management in class
6
Test Scores-2008
Years
2008
2006
1997
Score
48.3%
52.4%
57.3%
7
Topics Teens would like
their Parents to talk about
• 44%: How to invest
money
• 42%: How to establish good
credit
• 34%: Their career aspirations
• 33% How to budget money
8
4-H Financial
Champions
• Curriculum
•12 - 15 year olds
9
2 Youth Booklets
•Money Fun-damentals
• Book 1
•Money Moves
• Book 2
10
Helper’s Guide
•Personal Finance
Helper’s Guide
• 44 pages
11
Ordering Information
• 4-H Mall
•www.4-hmall.org
• 3 Booklets
• Cost $12.00 plus shipping
• Shipping =$3.95 one set
12
Experiential
Learning Model
• Try activity
before being
told or
shown how
13
Money
Fun-damentals
•
Book 1
• 28 pages
• 6 Activities
14
Money
Fun-damentals
•
Book 1:
A Youth
Guide for Learning about
Money
• Name______________
15
Money
Fun-damentals
• Life Skills
•Decision Making
•Managing Yourself
16
Activity #1: p. 2
•Your
Money
Personality
17
The Bottom Line:
• Book 1: p. 2
•You’ll better
understand what
motivates your
money decisions
18
Money Personality
Profile: p. 3
• General
• Shopping
• Eating Out
• Lifestyle
• Saving
• Gifts
19
Financial
Families p. 4
•
•
•
•
•
•
Frank & Frances Frugal
Patricia & Paul Pleasure
Sergio & Sasha Success
Nicole & Ned Not Important
Pedro & Pamela Powerful
Sharise & Steven Self-Worth
20
Abe Lincoln:
Talk it over p. 5
•Helper, parent
or friend
21
Share Questions:
p. 5
• Talking
Money with
the
Champions
22
Process Questions:
p. 5
•
Champions
Maneuvering
Money
23
Generalize
Questions: p. 5
• Making
Cents with
the
Champions
24
Apply Questions:
p. 5
•
Financial
Champions:
Heroes for
Life
25
Champions’
Challenge p. 5
Gray box
Provides youth more
ways to deepen their
understanding
of the activity
26
Champions’
Challenge p. 5
•Have family
member & best
friend take the
quiz
27
Pocket Change
•
Phrases &
quotes about
personal finance
p. 5
Pocket
Change
28
Book 1: p. 5
Pocket Change
• “The highest use of
capital is not to make
more money, but to
make money do more for
the betterment of life.”
•Henry Ford
29
Activity #2: p. 6
• I Need It, Want It
•Learn how
needs & wants
affect financial
decisions
30
Activity #3: p. 10
•Money
Motivators
• Learn why you make
financial decisions &
how to deal with
them
31
Activity #4: p. 15
• Money Talks
• Learn more
about money
& communication
32
Activity #5: p. 19
• Get Smart
• Learn how to plan
for financial success
by setting goals
33
Activity #6: p. 22
• Show Me the Money
• Learn how a money
plan affects your
financial success
34
Achievement
Program: p. 26
• Complete all 6 activities
• 2 Champions’ Challenge
• 2 Leadership
Experiences
• Helper’s Initials
35
Leadership
Experiences p.27
•
•
•
•
•
•
Presentations/Demo
Exhibits
Speech
Community Service
Field Trip
Invite Speaker
36
Achievement
Program
Guidelines
• When filled out, Copy p.
26 & 27
• Place in 4-H Record Book
37
Money
Fun-damentals
Achievement
Program
Certificate
38
Glossary
Definitions
•
Book 1
• p. 28
• 23 Definitions
39
Glossary Activity
• Word--write a
definition
• Definition-write the word
40
Money
Fun-damentals
•
Book 1
•
Questions
41
Money Moves
•
Book 2
• 40 pages
• 8 Activities
42
Money Moves
•
Book 2
• A Youth Guide for Saving,
Spending & Other Money
Skills
•Name______________
43
Money Moves
•
Skills
•How to
acquire & evaluate
information
44
Activity #1: p. 2
•Taking Care of
Your Money
•Learn ways of
handling money
45
Activity #2: p. 6
•Turning Cents into
Dollars
•Learn how
interest is calculated
on saving & savings
options
46
Credit Cards
47
Credit Card
• Average balance
•$1,825 bank
credit card
•
18% APR
48
Credit Card
• Pay $28
minimum payment
• How long to
pay off??????
49
$28 monthly payment
• 21 years
• 16 years
• 11 years
• 5 years
50
Interest Paid
• $5,325
• $3,460
• $2,377
• $956
51
Interest Charges
payment interest
• $28
= $5,325
• $29
= $3,460
• $32
= $2,377
• $46
= $ 956
yrs
21
16
11
5
52
Activity #4: p. 15
• Check it Out
• Learn how to manage
a checking account
53
MSU Check Register
Tracking System
MontGuide 198703
54
Activity #5: p. 22
•Selecting Financial
Services
• Learn the basics of
how to select financial
services
55
Activity #6: p. 25
• It All Ads Up
•Learn to evaluate
advertising & how
to use it to make
better purchases
56
Activity #7:p.
28
• You Be the Judge
• Learn how to make
decisions & evaluate
information in the
marketplace
57
Activity #8: p. 31
• Shop ‘Til You Drop
•Learn how to make
good decisions when
shopping
58
Achievement
Program: p. 34
• Complete 5 of 8 activities
• 2 Champions’ Challenge
• 2 Leadership Experiences
• Helper’s Initials
59
Leadership Experiences:
p. 35
•
•
•
•
•
•
Presentations/Demo
Exhibits
Speech
Community Service
Field Trip
Invite Speaker
60
Glossary Words
•
Book 2
•Pages 36-37
•45 definitions
61
Money Moves
•
Book 2
• Questions
62
Helper’s Guide
• Personal
Finance
Helper’s Guide
• 44 pages
63
Table of Contents:
p. 1
• 8 Activities to
enhance or expand
concepts learned in
youth guides
64
Brief Overview p. 2
•Money Fundamentals
• Book 1
•Money Moves
• Book 2
65
Experiential
Learning Model
• P. 3
•Learn by
doing
66
Ages & Stages
of Youth: p. 4
• Grades 7 - 9
•Ages 12 - 15
67
Young Teens: p. 4
•
12 - 13 year olds
•Rapid changes in
growth
•Small groups
•Self definition
68
Mid-Teens: p. 5
• 14 - 15 year olds
•Absorbed in themselves &
peer groups
•Thoughts about future
•Set goals based on
personal needs & priorities
69
Objectives p. 6
• Youth will learn
• Personal Finance
Skill to Practice
• Success Indicator
70
What You Need: p. 8
• Time involved
• Suggested Group
Size
• Materials Needed
71
Green
Background
Box
Information
for Each Activity
•p. 8—Advertisement
Action
•p. 14—Before and after
•p. 19—Shopping Cents
Field Trip
72
Activity #1: p. 6
•At Your Service
•Identify services in
communities & learn
how to evaluate
them as consumers
73
Activity #2: p. 8
Advertising
Action
• Create
Advertisement
•
74
Activity #3: p. 12
•Take a Stand
•Form opinions
about debt,
credit & loans
75
Activity #3: p. 13
•Line Continuum
Strongly
Agree
Strongly
Disagree
76
Activity #4: p. 14
• Before & After
• Identify money
mgt
experiences &
sharing them
77
Activity #5: p. 16
• Conducting a
Quiz Bowl
78
Activity #6: p. 19
•
Shopping
Cents Field
Trip
79
Activity #7: p. 24
• Go for the
Goal
•Identifying
goals & sharing
opinions
80
Activity #8: p. 26
•Money In,
Money Out
•Recognizing
income sources &
expenses
81
Make it Fun: p. 29
More Group
Activities
•
82
Ice Breakers: p. 29
• Money Puzzle
Partners
• Price is Right
• Financial Popping
83
More Group
Activities: p. 29
• Freeze Frame
• Clip it, Glue it
• Ad Thoughts
84
More: p. 30
• Role Play/
Charades
• TV or Movie Diary
• Glossary
Games
85
More: p. 30
• Career Shadows
• Banker, auditor,
credit counselor,
financial planner
86
More: p. 31
• Can of
Squirms
• Financial
Squirms
87
$$$ Squirms
•Discuss your
squirm with
person sitting
next to you
88
Activity
•Write a short
financial squirm for
ages 12 - 15.
•Be sure to put your
name on back.
89
Winner?????
Financial
Squirms
•
90
More: p. 31
•Crazy Matches
•Make Mine a
Puzzle
91
Financial Drama
Volunteers
You’re
on!!!
•
92
Financial
Planning
Drama
p. 33 - 36
93
Financial
Planning Drama
•Judge
•Chorus
94
Activity Ideas: p
37
• Presentations/Demo
•Careers
•Write a
Check
•Use a financial
calculator
95
Field Trip: p. 37
• Bank
• Insurance
• Investment
96
Community Service
Ideas p. 37
• Read Money
Related Stories
at Library
•Money on Bookshelf
97
Exhibit Ideas p. 37
• Comparison
Shopping
98
Leadership
Opportunities
• Organize local
America Saves
program
99
Answers p. 38 - 39
• Money Moves
• Book 2
•Turning Cents into Dollars
•State Capitol, Here I Come
•Charging up
100
Additional Resources:
p. 41
• Print Resources for
Educators
•Sites for educators
•Sites for Students
101
Academic
Standards: p. 43
• Family & Consumer
Sciences
• Economics
• Personal Finance
102
Financial
Champions
Web Game
http://downloads.cas.ps
u.edu/4H/FinancialCham
pions/default.htm
103
Financial
Champions
Academy
104
Financial Champions
105
Financial
Champions
106
Montana Financial
Champions Web
Site
www.montana.edu/extensionecon/
financialchampions/index.html
107
4-H
Financial
Champions
September 2011
108