money matters!
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Money Matters!
ByDvora InwoodTamecia JonesAnitra Waller
Ed 208B Winter 2004
Why Money Matters!• Only 56% of households are
adequately prepared for retirement
U.S. Department of Labor 2002
• 60% of American credit card holders carry credit card debt
Cambridge Consumer Credit Counseling 2004
Why Money Matters!
• Personal bankruptcy filings doubled from 1990 to 2000
American Bankruptcy Institute
Why Money Matters!
• Personal bankruptcy filings hit a record high in 2003
– over 2 million people!
Administrative Office of the U.S. Courts
Why parents matter
94% of students turn to their PARENTS for financial education and guidance
AND YET…
Why parents matter
55% of parents roll over credit card debt each month
Why parents matter
58% of parents are unfamiliar with mutual funds or stocks
Why parents matter
69% of parents cannot cite 2 examples of what they have done to teach their kids
about financial matters
American Savings Education Council, 2001
Why Money Matters matters
We’re educating PARENTS who want to learn
The Boys and Girls Club of Palo Alto
The Initial Site Using the Money Matters
Curriculum
The Boys and Girls Club of the Peninsula• An organization that
provides safe, friendly fun environments for children after school in community clubhouses
• Its Mission is to inspire and enable all young people, especially those from disadvantaged circumstances, to achieve their full potential as productive,responsible, and caring citizens.
*The Boys & Girls Club of the Peninsula is a tax-exempt 501(C)3 non-profit organization. http://www.bgcp.org
Meet Joe. Who are his parents?
Little Joe Member
HispanicAfrican-AmericanPacific Islander
Caucasian
Working ClassMiddle Class
Graduates of:High SchoolTrade School
College
Single parentsCouples
GuardiansRelatives
Consumers
Boys and Girls Club MemberJoe
BorrowersCredit Risks/
Account Holders
Owners
Why Joe’s parents matter… They provide his needs or wants
Clothes
Shelter
Health Care
Food Transportation
Money
Books/Toys
Tuition
Boys and Girls Club MemberJoe
And model money management
The Money Matters Curriculum
A Five Lesson Curriculum Plan
Enduring Goal
Students will be able to navigate economic situations with present and
future consequences.
Desired Outcomes
Declarative GoalsProcedural Goals
Attitudes, Values, and Habits of Mind Goals
Declarative Goals:
Students will:
• Understand financial terminology
• Identify print, online and organizational resources that inform and guide financial decisions
• Be familiar with the financial “rules of thumb”
Procedural Goals
Students will develop an ability to:• Make decisions based on given
information• Identify a desired financial identity
and create a plan toward building that identity
• Create monthly and annual budgets based on assessments of needs, wants, and resources
Attitudes, Values, and Habits of Mind Goals
• Students will be proactive money managers and apply these ideas to their daily living for attainment of their short-term and long-term goals
• Students will demonstrate responsible financial behavior for their children
Lessons Overview
1. Managing Income & Expenses
2. Managing Consumer Credit and Planning for Major Purchases
3. Savings & Investment
4. Insurance
5. Financial Record-Keeping
Individual Lesson Format
IcebreakerSelf-AssessmentActivities
IndividualPairedGroup
Individual Reflection
We use scenarios, real-life contexts, and document examples for teaching and modeling!
Curriculum Contents
• Lessons• Appendix
– Student Worksheets– Instructor’s Resource Guide– Glossary of Terms
Questions?
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