the youth financial education fair tool kit

$O

�ce

of t

he M

assa

chus

etts

Stat

e Tre

asur

er

THE YOUTHFINANCIAL EDUCATION FAIRTOOL KIT

Created in partnership with the Financial Education Fair Advisory Committee

What’s In This Tool Kit?

Everything You Need to Run a Successful Youth Financial Education Fair!

• 10StepPlanningGuide• BestPractices&PersonalAnecdotes• MasterChecklist• FairMentors&Advisors• ModelFloorPlan• SampleBoothTopics• SampleBoothPricePages• StudentSpendingPlan• SampleDonorLetter• SampleCurricula• ProvenOnlineReferences

The Youth Financial Education Fair Tool Kit - Office of the Massachusetts State TreasurerPage 2

Contents

Introduction………………………………………………………. 3History, Acknowledgments, Purpose, & Goals

A 10 Step Fair Planning Guide……………………………. 9Development, Execution, & Timeline

Best Practices…………………………………………………... 15Innovative Ideas, Organizational Structure & Advisory Committee

Sample Materials………………………………………......… 23 Fair Coordinator…………………….......………………… 23 Volunteers……………………………………….................. 33 Students…………………………………......................…… 41 Teachers…………………………….....................…………. 53

Tool Kit Evaluation………………………………………....… 83

Introduction• History• Acknowledgements• Purpose• Goals


HISTORY FinancialEducationFairshavebeentakingplacethroughoutMassachusettsforoveradecade.TheBrocktonHousingPartnershipandHarborOneBank(FormerlyHarborOneCreditUnion)coordinateoneofthelongestrunningfairsintheCommonwealth.ThisgroupacknowledgesConsumerCreditCounselingofSouthernNewEngland(nowMoneyManagementInternational,Inc.)withintroducingthemtothefairconcept.

Since2009,HarborOneCreditUnionhascarriedthephilosophyofsharingthefairmodelandhostsanannual“bestpractices”meetingforcreditunions,banks,schoolsandnon-profits.Thiseventimpartsvaluabletipsonhowtorunasuccessfulfair.IthasalsobeeninstrumentalinmotivatingtheformationoffairsinnewcommunitiesacrossMassachusetts.

TheOfficeofFinancialEducationattheMassachusettsStateTreasurydevelopedthismanualtoprovidea10stepguidefordevelopingafairandtosharevaluablelessonslearnedthroughtrialanderror.Thisguideservesasalinkbetweennewfaircoordinatorsandmoreexperiencedeffectivefaircoordinators.

InJune2011,theFinancialEducationFairAdvisoryCommittee,agroupofcivic-mindedprofessionals,convenedtocarefullyreviewthistoolkit,suggestedcontentandconfirmitsaccuracy.Inaddition,committeemembersshareduniqueapproaches,favoriteelementsoftheirfairsandofferedinsightonhowtorunasuccessfulfair.


ACKNOWLEDGEMENTS TheMassachusettsStateTreasurer’sOfficewouldliketothankthemanyindividualsandorganizationsthatassistintheproductionoftheYouthFinancialEducationFairToolKit,includingTreasuryExecutiveOfficestaffandJessieSaintcyr,DeputyTreasurer.ThetoolkitgreatlybenefitsfrominvolvementoftheFinancialEducationFairAdvisoryCommittee.Thecommitteeisinstrumentalinsharingfairplanningexpertiseforthistoolkit,supportingtheexpansionoffairdevelopmentinMassachusetts,andestablishingacoregroupofmentorstohelpfuturefaircoordinators.

Development By: LeanneMartinFay DirectorofFinancialEducation SheilaO’Loughlin FinancialEducationCoordinatorLauraRooney GraduateIntern,BrandeisUniversityJaredWeiss UndergraduateIntern,BostonUniversity

AimeeBronhard DurfeeHighSchool [email protected] MassHousing [email protected] JeanneD’ArcCreditUnion [email protected] HolyokeCreditUnion [email protected] CreditUnionLeagueofConnecticut [email protected] HarborOneCreditUnion [email protected] FranklinCountyRegionalHRA [email protected] MetroCreditUnion [email protected] MarlboroughHighSchool [email protected] AssabetValleyRegionalTechnicalHighSchool [email protected] MassachusettsCreditUnionShareInsuranceCorporation [email protected] RetiredBanker [email protected] AmeripriseFinancialServices,Inc. [email protected] FoxboroHighSchool [email protected] HudsonSchoolDepartment [email protected] LeominsterCreditUnion [email protected] OfficeoftheMassachusettsStateTreasurer [email protected] CountryBank [email protected] MoneyManagementInternationalofMassachusetts [email protected] CapeCodFiveCentsSavingsBank [email protected] AmeripriseFinancialServices,Inc. [email protected] JeanneD’ArcCreditUnion [email protected] PawtucketCreditUnion [email protected] OfficeoftheMassachusettsStateTreasurer [email protected] HarborOneCreditUnion [email protected] MassHousingFinanceAgency [email protected] RetirementSpecialist [email protected] MassachusettsCreditUnionLeague,Inc. [email protected] InstituteforSavings–Newburyport [email protected] AmericanCreditCounselingServices [email protected] HarborOneCreditUnion [email protected] InstitutionforSavings-Newburyport [email protected] FinancialEducationEntrepreneur [email protected] Citizens-UnionSavingsBank [email protected] CapeCodFiveCentsSavingsBank [email protected] MassachusettsCreditUnionLeague [email protected] SouthShoreRegionalVoc.Tech.HighSchool [email protected] CambridgePortugueseCreditUnion [email protected]


PURPOSE & GOALWHATISAFINANCIALEDUCATIONFAIR?

Afinancialeducationfairisafun,interactivesimulationofsaving,spending,andbudgetingbasedoncareerchoicesandlifestyledecisions.Studentparticipantschooseanoccupationandmakeavarietyoffinancialdecisions,rangingfromwheretoliveandhowtosaveforretirementtobuyingatelevisionorowningapet.InMassachusetts,thesefairshavebeengivenseveraltitles,suchas“CreditforLife,”“RealityFair,”“RealityCheck!”andmanyothers.

Thetargetaudiencesthatparticipateinsuchfairsarehighschoolstudents.Atthisstagemanystudentsbegintoearnarealincomefromjobs,sothefairexperiencehasanimmediateapplication.However,thefairconceptcanbeadaptedforothergradelevelsorforumssuchasafterschoolprogramsoryouthcamps.

PURPOSEOFTOOLKIT

Thepurposeoftheyouthfinancialeducationfairtoolkitistoprovideanall-purposeguidetohelpschools,teachers,communityorganizations,financialinstitutionsoranyotherentityinterestedindevelopingafair.Intime,thisguidecanbolstertheincreasingnumberoffinancialeducationfairsthatareadministeredinMassachusettscommunities.

GOALSOFAFAIR

Ayouthfinancialeducationfairshouldengagestudentsinthevariouslevelsoffinancialdecisionmakingthattheywillfaceintheirmid-20s.Everystudent’sscenarioforthepurposesofthefairwillbebasedonthepathchosenbythatstudent.Thesepathscanincludeworkingasyoungprofessionalwithstudentloans,servinginthemilitarywithlimitedhousingcosts,orevenattendinglawschoolandliving“athome”withparents.Studentswillexperiencethetaskofmanagingabudgetwhilemaintainingabalancebetweenfutureneedsandwants.

Thebroadergoalofallfairsistohelpempowerstudentstobeproactiveabouttheirfinancialfuturesbybeginningtodevelopsolidpersonalfinancehabits.

Accordingtoa2008study1conductedbyUniversityofWisconsin-Extension,97%ofstudentparticipantsinafinancialeducationfairexperiencedanincreaseinconfidenceoffinancialmanagementandthemajorityoftheseparticipantsplannedtocontinuetotracktheirspending.

1UniversityofWisconsin-Extension,CooperativeExtension(2008).Programevaluationreport:Youthfinancialeducation.Madison,WI:UW-Extension,ProgramDevelopmentandEvaluation.http://www.uwex.edu/ces/pdande/evaluation/evalstud-ies.html


Awellrunfairshouldfocusonthefollowinggoals:

Awareness:Anincreaseinstudentexposureandunderstandingoftheimportanceregardingpracticalmoneymanagementhabits

Interest: Increasedexcitementinlearningaboutearning,spending,andsaving

Experience:Deliverstudentexposuretoexperientiallearningwithouttheriskoffacinganyrealharmfulfinancialrepercussions

Skills:Improvedfinancialdecisionmakingandconsumerconfidence

OUTCOMESOFAFAIR

Themostimportantoutcomeofayouthfinancialeducationfairisthatstudentsbegintoascertainthefollowingfinancialliteracyskill-set:

•Find,evaluate,andapplyfinancialinformation•Setfinancialgoalsandplantoachievethem•Developincome-earningpotentialandtheabilitytosave•Usefinancialserviceseffectively•Meetfinancialobligations•Buildandprotectwealth

Bringingafinancialeducationfairtoyourcommunitywillfosterinteractionandcollaboration.Thisevent,bydesign,canprovideauniqueopportunityforlocalbusinesses,non-profits,governmentleaders,colleges,andothervolunteerstoengagewithlocalteenagersinapurposefullearningexperience.

Measurablelearninggoalscanbeachievedbyfairs,butexpectationsvarygreatly,dependingontheamountofclassroompreparationbuiltintothedesign.Fairsrangefrombeingarequiredcapstoneactivityinacomprehensivefinancialeducationprogramtoastandalone,one-dayevent.Thisguideincludessuggestions,surveys,andresourcesformeasuringimportantoutcomeslikewhatastudenthaslearnedfromparticipatinginafinancialeducationprogramversusastand-alonefair.(SeeSampleMaterialsforFairCoordinator,Page23)


DON’T REINVENT THE WHEEL! MostMassachusetts-basedfairshavebeenrunbyafinancialinstitution,ateacher/administrator,orcombinationofboth.Thefairisasimulationthatrequiresthestudentparticipantstoimaginetheyareintheirmid-twentiesandmakingdailyfinancialdecisions.

Astandardfairisapproximatelythreehourslong.Thisincludesabrieforientation,questionsabouttheprogram,acoupleofhourstovisitvendorbooths,andawrap-updiscussion.Vendorboothsaretableswithvolunteersandarelabeledaccordingtotheexpensecategories,suchas,food,housing,transportation,utilities,luxuries,andmore.Thestudentspickupcareerprofilesandspendingplansattheregistrationbooth.Theircareerselectionwilldeterminetheireducationrequirementsandmonthlyincome.Careerselectioncanbepresentedasaclassroomorguidanceactivitypriortofairdayorchosenuponarrivalatthefair.Withmaterialsinhand,studentsbegintheinteractivecomponentofthefairbyvisitingeverybooth.Ateachbooth,theymustdecidehowtousetheirincomewithoutlivingbeyondtheirmeans.

Everyvendorboothhasaboothcaptainwhoisresponsiblefororganizingboothvolunteerstoensuretheirstationoperatesefficientlyandeffectively.Boothvolunteersrelaytothestudentstheproductorservicethatisofferedattheirgivenbooth,oftentryingtoenticestudentsintooverspending.(SeeSampleBoothDescriptionsonpage34)Additionally,whenstudentsarefalteringorneedguidancethroughoutthefair,reminderannouncementscanencouragethemtovisittheCreditCounselingboothfortrustedguidance.Aftervisitingallofthevendorbooths,studentsmustvisittheCreditCounselingboothonefinaltime.Atthistime,volunteercreditcounselorsdiscussthegooddecisionsandmistakesthatstudentsmadealongtheway.Lastly,amoderatoraddressesthestudentsandvolunteersasagrouptosummarizetheirexperiencesthroughdiscussion.

Fairevaluationsareprovidedorrequiredbybothstudentandvolunteerparticipants.Theevaluationrequestsforspecificexamplesofhowthefairhassharpenedthecrucialconsumerskillsandfinancialliteracyoftheparticipantsandasksforwaysinwhichthefaircouldbeimproved.(SeeSampleEvaluationForms,page40-volunteers,page49-student)


10 STEPS TO PLAN & EXECUTE THE FAIRTheintentionofthistoolkitistosimplifythefairplanningprocesswitha10-stepstrategy:1.FormaPlanningCommittee2.DetermineDate&Location3.VolunteerRecruitment4.PrepareStudents&Teachers 5.FundraisingfortheFair6.PlanOutreachStrategy7.PlanningCareerProfiles&SpendingPlans8.ConfirmArrangements9.PromotetheFair10.Survey&ReviewtoPlanforFutureFairs

1.FORMAPLANNINGCOMMITTEEAplanningcommitteeshouldconsistofafewkeyplayerswhowilltaketheleadoncoordinatingthefair.ThiscommitteeshouldbeledbyoneFairDirector.Committeememberswillbestafforvolunteersfromtheorganization(s)thatarethemostinvolvedinplanning.Forexample,yourplanningcommitteecouldhaverepresentativesfromthefollowinggroups:•BankingInstitution•School(s)•LocalNon-profitOrganization•Parent-TeacherOrganization•AlumniAssociation•LocalBusiness

Mapshowslocationsofhighschoolsthatparticipatedinacreditfairduringthe2012-2013schoolyear.

Foradetailedlist,visithttp://www.cautionwith-credit.com/creditfair.aspx

PARTICIPATING HIGH SCHOOLS MAP


Theplanningcommitteewillbetakingonthemostresponsibilityinorganizingthefair.Membersneedtobeabletomakethecommitmentofattendingallmeetings,volunteeringduringthefairandwillgivethemosttime.Asaresult,mostplanningcommitteesaremadeupofstafffrombankinginstitutionsand/orschools.

Securecommitmentofparticipatingschool(s):Ifanon-schoolentity,suchasabank,creditunion,ornon-profitorganizationiscoordinatingthefair,afirststepshouldbetosecurethesupportoftheadministrationand/ordepartmentsatyourtargetschool(s).Thiscanbedonethroughaleadteacher,theguidancedepartment,principal,superintendentand/orschoolcommittee.

Usingamultimediapresentationwhenpitchingthefairtotheadministrationhelpsdepicttheeducationalvalue,communityparticipationandstudentengagement.Thefollowingvideosareafewexamplesofexistingfairsthatmaybehelpfulinpresentingthesuggestedfair:

• CU4Reality/ The Credit Union Museum:http://www.youtube.com/watch?v=0jshr6FVoJs• Credit for Life Fair / Institution For Savings: http://www.youtube.com/watch?v=fvynxONrlps• Money Strong for Life / Jeanne D’Arc Credit Union: http://let22.org/events-around-lowell/the-money-strong-for-life-credit-fair/

2.DETERMINEDATE&LOCATIONThefairdirectorshouldresearchpotentialfairvenuesandselectalocationthatcanaccommodatetheanticipatedattendees,volunteersandboothswhilefallingwithinthepricerangeagreeduponbytheplanningcommittee.Offeringthefaironaschoolcampusinalargespacesuchasagymnasiumorfieldhousecansignificantlyreducethecostofthefairandeliminatetravelexpenses.

Othervenuestoconsiderarecommunitycollegegymnasiums,communitycenters,oralocalhotelballroom.(SeeSampleMaterialsforfairlayoutsonpage25)Gatheryourleadplanningpartnersforaninitialmeetingtodeterminethefollowingitems:operationalcosts/fundraisinggoals,potentialfairdatesandlocation.Presentaprojectedbudget.(SeeSampleMaterialsforasamplebudgetonpage26)Assignboothcaptainstorecruitvolunteersanddisplaysfortheirbooths.

3.VOLUNTEERRECRUITMENTRecruitmembersofthepublic,privatebusiness,andnon-profitsectorsinyourcommunitytogetinvolvedinthefairasvolunteers,sponsors,orplanningpartners.Typicallytheratioofvolunteerstostudentsis1:3.Commitmorevolunteersthanneededatleastonemonthpriortothefair,asoftentimesconflictscomeupforvolunteers.Also,allowthevolunteerstoofferfeedback,basedontheirexperienceinspecificindustries,tohelpretaintheaccuracyofthefinancialchoicesavailableto


students.(SeeSampleBoothDescriptions,onpage34)Alsonotethatwhensearchingforvolunteersand/orsponsors,beclearthatbusinessesarenottheretosellproduct(s),buttoeducate.

BoothCaptain:Thispersonisresponsibleforpreparingtheboothdesign,recruiting/preparinganadequatenumberofboothvolunteers,andtheoptionstheywillofferthestudentsduringthefair.Forexample,afinancialinstitutionisoftenbestequippedtoprovideacaptainforasaving/investingorlendingbooth.Amemberofthenon-profitsectormayhavetheexperiencetooperatethecreditcounseling,charity,orhealth/nutritionbooth.Boothcaptainsarealsoresponsiblefor“training”theirboothvolunteersontheirdutiesduringanassignedtimefororientation.

Additionally,boothcaptainsmaychoosetogoaboveandbeyondbyhelpingorsittingontheplanningcommittee.

BoothVolunteers:Thesearethepeoplethatwillbetrainedbytheboothcaptainstorunaparticularbooth(i.e.clothing,housingorluxury).

OtherVolunteers:Manyfairshaveothervolunteerstohelpinsettingup,breakingdown,cleanupordirectingstudentsduringthefair.Youwillneedsomevolunteerstodealwiththeseandothermiscellaneoustasks.

4.PREPARESTUDENTS&TEACHERSStudents:Priortothefair,itishelpfultoprovideteachersorguidancecounselorswithturn-keylessonstohelpintegratefinancialeducationintotheclassroom.Theresourcesectionofthistoolkitprovidessamplelessons.Faircoordinatorscanalsoinviteguestspeakersfromthecommunitytopresenttostudentsabouttheirareaofexpertise.Forexample,acommunitybankercantalktothestudentsaboutsavingandborrowingmoneytoreachtheirlongtermgoals.(SeeSampleActivities&Resourcesonpage80)

Atsomeschools,classroompreparationforthefairisnotalwaysfeasible.Inthiscase,studentsshouldbeassembledpriortooratthebeginningofthefairtoteachthemhowthespendingplanworksandhowtochooseacareerprofile.Itisimportantthatstudentsunderstandwhatisexpectedofthemasparticipantsofthefair.

Teachers:Agreatwaytoinformteachersorguidancecounselorsaboutthefairandhowtheycanbeinstrumentalistopresentthegoalsofthefairduringaprofessionaldevelopmentday.Ideally,studentswillberequiredtoparticipateinthefair,butifthefairisoptional,likeafieldtrip,teacherscanplayaroleinhelpingtopromotestudentparticipationbydispersingpermissionslips,assigningrelatedclassroomactivities,orevenofferingextracreditforattending.


5.FUNDRAISINGFORTHEFAIR2Fundraisingcanbehelpfultocoverthecostofrentingequipment,avenue,marketing,foodandanyotherexpensesincurredwhileplanningthefair.Thefaircoordinatororavolunteerbookkeeperwillberesponsibleforkeepingalogofanyexpensesincurred,financialorin-kinddonationsmade,andcurrentorpotentialsponsors.

Manyfairshavereportedreceivingin-kinddonationstocoverexpensessuchasthevenue,food,signage,boothequipment,andaudio/video.Arecommendedmethodofacceptingdonationsisbypartneringwithanon-profitactingasafiscalconduit.The501(c)(3)statusofthenon-profitallowsdonationstobetaxexempt.Somenon-profitplanningpartnersthathavebeeninvolvedwithexistingfairsinclude:alumniassociations,housingauthorities,HUDapprovedcreditcounselingagencies3orothercommunitygroupsthatsharethemissionoffinancialsustainabilityandempowerment.

Privateentitiesandnon-profitsshouldbesuretodiscusstheirdonationstothefairwiththeirlegaldepartment.Oftenaprojectneedstohave501(c)(3)taxexemptstatusforafinancialinstitutiontocontributefunding.Inaddition,aschoolorschooldistrictmayhavepoliciesagainsttheuseofcommerciallogosataneventlikethe

fairorinpromotionalmaterials.Ifthispolicyexists,thensomeschoolshavechosentofeaturethelogosinaneventprogram,ratherthandisplaythelogosatthefair.

Anaveragefairmaycostapproximately$30perstudent;howeverthiscanbereducedsignificantlybycuttingexpensessuchasgiftsforstudents,venueselection,marketing,andfood.

6.PLANOUTREACHSTRATEGYCoordinateonandoffcampusmarketingstrategiestoraiseawarenessofthefair.Generatingawarenessamongstpotentialstakeholderswillbecentraltofundraisingandgettingvolunteersoutsideoftheschoolcommunitytovolunteer.Sendinvitationstolocalbanks,creditunions,communityorganizations,non-profitsandlocalbusinessestospreadthewordaboutyourplannedevent.

Gettingteachersandstudentsinvolvedcanleadtobetterparticipation,akeyconsiderationwhenitisnotrequiredbytheprincipal.Utilizestudentstocreate2PleasebeadvisedthatthisinformationconcerningfundraisinghasbeenprovidedforinformationalpurposesonlyandshouldnotbeconsideredfundraisingpoliciesandpracticesthathavebeenapprovedbytheTreasurer’sOffice.Eachentity,school,schooldistrictorparticipatinggroupshouldlooktotheirowninternalfundraisingpracticesandpolicies,andwhereappropriate,conferwiththeirownlegalcounsel,todeterminethebestwaytoproceedwithfundraisingandsponsorshipefforts.3HUDapprovedcreditcounselingagenciesreferstotheagenciesthattheU.S.DepartmentofHousingandUrbanDevelopmentsponsorsthroughoutthecountrythatcanprovideadviceonbuyingahome,renting,defaults,foreclosures,andcreditissues.http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm


promotionalflyers,emails,andpeertopeerpromotingtoengagetheschoolcommunity.Thesematerialscanalsobeusedforfundraisinginthecommunityandrecruitingvolunteers.7.PREPARINGCAREERPROFILES&SPENDINGPLANSCareerprofilesandspendingplansareessentiallytheactivityworksheetsthatprovidestudentswiththeirsalary,taxdeductions,educationrequirements,creditscores,andanybudgetcalculationsduringthefair.

Thefairdirectorwillpreparethecareerprofilespriortostudents’selection.Thekeypiecesofdatasuchaseducationcostsandaverageyearlysalaryareaddedtoanexcelspreadsheetforeachcareeroption.Thedatainthespreadsheetisusedtocreatethecareerprofilesinaworddocumentusingthemailmergetool.Sampledocumentsareincludedintheresourcesection.(Seepage31)Thespendingplanswillreflecttheexpensesrelatedtotrainingandhighereducationrelevanttotheircareerchoice.

Thereareanumberofapproachestohandlingthecareerprofileselectionprocessandthisguidedescribestwoexamples.Thefirstmethodrequiresclassroomtimeandresearchbythestudentsintheweeksleadinguptothefairwhilethesecondallowseverythingtobedoneonthedayofthefair.

Thefirstmethodasksstudentstoresearchandselecttheircareerspriortothefair.Oncetheyhavedonesostudentsareinstructedtoeithercompleteclassroomactivityorfilloutacareerselectionformatschoolandreturnittoadesignatedpersonbyacertaindate.Withthismethodanindividualizedspendingplanandinformationonthestudent’scareerchoicearethencollatedaspacketsandlabeledwiththestudent’sname.Studentspickuptheirpersonalizedpacketsattheregistrationboothuponarrivalatthefair.

Thesecondmethodforcareerselectionistohavestudentschoosetheircareeratanassemblydirectlybeforethefair.Thismethodwouldjustrequireabriefoverviewofthechoicesavailabletostudents.Studentsthenmakeamoreimpulsivechoice.Withthismethodcareerprofilesandspendingplansarenotassignedtostudentspriortothefair.Thismethodisdesignedwithalimitednumberofcareerprofilesforeachoccupationprovidinganinterestinglessonforstudentstoexperienceacompetitivejobmarket.Forexample,therearemanyserviceworkerprofilesavailablebutonlyafewaccountantprofiles.

(SeeClassroomActivities,onPage54andStudentParticipantProfileonpage46)

8.CONFIRMALLVOLUNTEERSANDEXPENSESIntheweekspriortothefair,alwaysre-confirmthemanymovingparts.Useyourchecklistintheweeksleadinguptothefairtoensureyouhaveallmaterialsreadyfortheevent.(SeeSampleChecklistonpage24)


BoothCaptains:Contacteachboothcaptainonthestatusoftheirvolunteerrecruitmentandtheirresponsibilitiestounderstandthespendingplan,trainvolunteers,anddecoratetheirbooth.Ifpossible,provideabrieforientationfortheboothcaptainstoensurethatalloftheboothsareequallyprepared.

Food&Venue:Averyimportanttaskisconfirmingthequantityoffoodandrefreshments,asthiscanbeoneofthelargestexpenses.

9.PROMOTETHEFAIRToStudents:Studentscanberequiredbytheirschooltoattend,butparticularlyifaschoolallowsthiseventtobeoptional,thestudentsshouldreceiveaninvitationwitheventdetails,procedures,dresscodes,andamediarelease.Anyfairnottakingplaceontheschoolpremisesshouldalsoincludeapermissionslip.(SeePermissionSlip,onpage78)

Ifthefairisnotmandatorytoattend,ithelpstopostpromotionalmaterialsontheschoolcampus,makeannouncementsovertheloudspeakeratschool,orencourageteacherstoofferextracredittoparticipatingstudents.

TotheCommunity:Garneringmediacoveragecanhelpfundraisersandvolunteerrecruitmentforfuturefairs.Afewdaysbeforethefair,thecoordinatorshouldprepareamediaadvisorytodrawlocalnewsoutletstotheevent,followedbyapressreleasewithphotos,sentonthedayofthefair.(SeeMediaReleaseForm,onpage78)

UpdatetheStateTreasury:NotifytheStateTreasurer’sOfficeaboutthedate,time,andlocationofyourfairinordertoreceivecrediteducationmaterials,hand-outsforthefair,andhaveyourcityortownbelistedontheOfficialTreasurywebsiteforhostingayouthfinancialeducationfair.ContactLeanneMartinFay,DirectoroftheMassachusettsStateTreasuryFinancialEducationDivision,[email protected]

10.SURVEYTHEFAIR&PLANFORFUTUREFAIRSAttheendofthefair,allvolunteersandstudentparticipantsshouldassesstheirexperience.Thiswillallowyoutodetailwhattheylearned,andofferanysuggestionstoimprovetheeffectivenessofthefairs.Reviewtheevaluationsandsummarize.Includethissummaryoftheevaluationswithyourthank-younotestoallofthevolunteersandsponsors,whichwillinformthecommitteeofanychangestoconsiderwhenplanningfuturefairs.Theplanningcommitteeshouldsetadatetoreconvene,debrief,andplanforfuturefair(s).

Foradditionalguidanceonmanagingthecareerprofileselectionprocess,membersoftheadvisorycommitteeareavailabletosharehowtheyhandlethiscomponentofthefair.(SeeAdvisoryCommittee,onpage5)

BEST PRACTICES

• Fair-Planning• FairImplementation• AnecdotesfromAdvisoryBoard• SampleFairDevelopmentTimeline


FAIRPLANNING

FindaMentor:MembersoftheMassachusettsStateTreasury’sFinancialEducationFairAdvisoryCommitteeareavailableuponrequesttoanswerquestionsaboutplanningafair.SimplyidentifyingaFairAdvisorclosesttoyourcommunity,observingthefairplanningprocess,andattendinganexistingfaircanprepareafaircoordinatorforlaunchinganewfair.

StayingOrganized:Keepmeetingminutesanddisseminatethemtothecommitteeswithinaweekofeachmeetingforreviewandapproval.Thiswillhelpallplanningcommitteemembersrecalltheprioragendaandhowthegroupcametodecisions.Meetingsmaybemonthlyandwillhelptoinformthosethatwereunabletoattendeverymeeting.

Materials:Studentsneedapencil,aspendingplan,careerprofile,andaccesstocalculators.Ensurethevenuehasanareawithsufficientseatingforstudentstocommunicateandhelpeachotherwithcalculationsandplanning.Somefairsprovidestudentswithanotepadorleatherpadfolioswithbuiltincalculatorsformoreportablecalculations.

CurriculumIntegration:Schoolstendtouseatleastoneprofessionaldevelopmentdaytointroducethefairtoteachersandcoordinatewaystointegratepersonalfinancelessonsintoothersubjectmatter.Keylessonsforteacherstobefamiliararehowtocompleteaspendingplan,howtoselectacareerprofile,andreviewofafairagenda.

EngagingtheCommunity:Invitelocalelectedofficialstoaddressthestudentsatthefairand/orprovideaquoteforyourpressrelease.

EngagingAcademia:Inviteyourlocaluniversitytoevaluateandreporttheeffectivenessofyourfairwithapreandposteventsurveymeasuringthestudents’financialliteracy.

EstimatingSalariesforCareerProfiles:Goto:www.masscis.intocareers.comtoaccessahighlyrecommendedtoolforfindingaccurateandappropriatesalariesforcareerprofiles.


DeterminingCreditScores:Ifyourfairhasbuiltinclassroomtimewiththestudents,afewinterestingideasonhowtoassignstudentsacreditscoreare:1.Baseitongrades,classbehavior,orattendance.2.Baseitonthestudent’sknowledgewithaquizatwww.creditscorequiz.org3.Drawscoresatrandomfromabowlatthelendingbooth.4.Randomlyindicateonthestudents’spendingplanandofferachancetoimprovethescorebyansweringcreditrelatedquestionscorrectlyatthecreditcounselingorlendingbooth.

FAIRIMPLEMENTATION

TeachersonFairDay:Someteachersareabletospendsomeclassroomtimepreparingthestudentsforthefair.However,teacherscanserveashelpfulvolunteersbyparticipatinginthefairsimulationtohaveanunderstandingoftheexperienceandsharethisfeedbackduringthepost-fairanalysis.

CrowdControl:Duringthefair,someboothsmayendupwithlongerlines.Herearesometipstochangeorutilizethoselines:1.Announceunexpectedsalesatslowerboothstoencouragemovementtoboothswithoutlines.2.Askstudentsinlinecreditquestionsandrewardcorrectanswersbyimprovingtheircreditscores.3.Insteadofjusthavingarealitybooth,haveavolunteergiverealitycheckstostudentsinline.

MakeitRealistic:Thefollowingsuggestionshelpthefairexperienceimitatereality.1.Attachastipulationtosomeboothsthattheyshallnotacceptcreditcardsandasimilarstipulationthatotherboothswon’tacceptcash.Thestudentswillnotbeawareofthesestipulationsuntiltheyareprocessingtheir“transaction”atthebooth.2.Weaveapredatorybusinesspracticeintosomeoftheboothdesigns,forexample,alowinterestcreditcardthatdramaticallyincreasesduringthefair.Thiscouldsendsomestudentstothecredit-counselingboothforadvicewheretheywilllearnabouthowtorecognizescamsandpredatoryoffers.3.Makealimitednumberofpart-timejobsavailablethroughthefairforstudentsneedingtosupplementtheirfulltimeincomes.

FilmtheFair:Inordertocapturethefaironfilm,afaircoordinatorcanaskavolunteer,astudent,orhirealocalfilmcrewfromyourpublicaccesschannel.


PrivateBusinessInteraction:Afaircoordinatormustbeveryspecificabouttheschoolpolicy’sregardingthemarketingofsponsorcompanies’productsandservices.Agoodsolutiontoforthedistricttoallowsponsorstoputtheirlogoongiveawayssuchasgiftbags,keychains,refrigeratormagnets,etc.

CLASSROOMPREPARATION

Howmuchclassroomtimedoesafinancialeducationfairrequire?Everydistrict,school,principalorteacherisuniqueandwillneedtoworkwiththefaircoordinatorwiththeintenttomaximizepreparationtimeforstudentspriortoparticipatinginthefair.ThefollowingfairmodelshavebeendescribedbymembersoftheStateTreasury’sFinancialEducationFairAdvisoryCommittee.

TheCapstoneModel:Thisfairmodelintendsforallfairparticipantstohavebeenpreparedforthefair.PreparationhasbeenreportedbytheAdvisoryCommitteetorangefromsixclassroomlessonstoadedicatedfinancialeducationcourseontopicsthatcoverthecorecompetenciesoffinancialcapability;earning/spending,saving,investing,borrowing,andprotecting.Theselessonsaretaughtintheweeksormonthspriortothefair.

Stand-AloneModel:Thisfairmodelisbestforschoolsthatdonotoffercoursesthatintegratefinancialeducation.Theschoolswillsimplyassemblethestudentstoreviewthebasicprinciplesandformatofafair.AgoalofthisfairmodelisforstudentstoexperiencetheshockwhenfacedwithunfamiliarexpenseslikeIncomeTax,Medicare,healthinsuranceandother“grown-up”necessities.Studentswillbechallengedwiththedifficultyoflivingonone’sownwithverylimitedfinancialeducation.

HybridModel:ThisfairmodelfallssomewhereinbetweenaCapstoneModelandtheStandAloneModel.Withthehybridmodel,onlysomestudentsarepreparedforthefairthroughfinancialeducationmodulestaughtintheweekspriortothefair;andotherstudents,duetoanyvariationoflogistical,scheduling,orstaffingcircumstances,willparticipateinthefairwithoutanyformalclassroompreparationaswiththe“Stand-Alone”modelexperience.Studentsshouldbeencouragedtotalktoeachotherandconsultwiththecreditcounselorswhentheyneedhelp.


LeoMacNeilSeniorVPCommunityRelations

HarborOneCreditUnion

CharityBooth:In2007,BrocktonintroducedanewCharity-CommunityServiceBoothwherestudentsmakedonationsorspend15minuteswritingletterstoourtroopsthatwesubsequentlymailoverseas.Itteachesthestudentsthatit’snotjustabout“me”.

JodieGerulaitisFinancialEducationOfficer

CountryBank

CreditScores:WareHighSchool’sCreditforLifeFairassignedcreditscoresatrandomandhadthestudentswearacardwiththeirscorearoundtheirnecksonalanyard.Inordertoimproveone’sscore,studentscouldansweracreditrelatedquestioncorrectly.

AimeeBronhardGuidanceCounselor

DurfeeHighSchool[FallRiver]

CareerProfiles:AtDurfeeHighSchoolinFallRiver,studentsdoawholecareerexplorationprograminclass.Theyalsolearnwhattheycanaffordforeducation.Theseprogramsarecoordinatedbetweenthemathandhistorydepartments.

MonicaCurhanFirstVP/DirectorofMarketingCitizens-UnionSavingsBank

DressforSuccess:Wehaveaboothwherekidslearnhowtotieatie.KnowtheReturnPolicy:Anothertrickwethrewintherewasknockingdowntheresalevalueofcars(forinstancededucting$1,000invalueassoonasitleavesthelot).

BarbaraBaranBusinessDevelopmentOfficer

HolyokeCreditUnion

VolunteerRecruitment:Theenthusiasmisinspiring.Retiredteachersareshowingup,withoutevenbeingofficialvolunteers,justtohelpout.Analumnusofthefairwasthekeynotespeakerandisnowrunningformayorthisyear.

KristinRojasPawtucketCreditUnion

EntryLevelSalaries:StudentstellmewhatcareerpaththeywanttopursueandIgivethemabudgetsheet.Iexplainthepotentialcareersalariesbasedontheirchosencareerpath,helpingthemunderstandhowlowsalariesimmediatelyaftergraduating.Theyneedtomanagetheirexpectationswhenfactoringincollegeloandebts.

DebraMarkAmeripriseFinancialServices

ANo-FrillsFair:Leatherpadfolioswerenotinthebudget,sowesetupatablewithcalculatorswherethestudentswenttodocalculations.Itwasagreatcommunicationforumforthestudents.

BarbBassCreditUnionLeagueofConnecticut

StudentPreparation:Ourstudentsresearchthesalariesfortheirchosenoccupationsthemselves.Thisallowsthemtofigureoutiftheirchosenprofessionwillsupportthemfinanciallyandcovertheirmonthlystudentloanpayments.

ANECDOTES FROM FINANCIAL EDUCATION FAIR ADVISORY BOARD(InordertocontactanyofthemembersoftheAdvisoryCommittee,seepage5)


SUGGESTED DEVELOPMENT TIMELINE FOR FAIR COORDINATOR4-6 months before Fair• Contactschool(s)regardingparticipation• Identifyresources(monetary,locations,suppliesandpersonnel)• ProvideinformationonFair• Engageteachersorguidancedepartment• Establishmutualexpectationswithteacherorguidancedepartment• IdentifytargetdateforFair• Getschoolcommitment,anoncampuspointperson,andestimateattendees• StartvolunteerassignmentstoprepareforFair• CreateaMarketingPlanoridentifyaMarketingVolunteerforFair• ReviewtheMarketingPlanwithvolunteers• Verifydistributionofplanningresponsibilities• Createmediacontactlist• IdentifyFairboothcaptainsandexplaintheirresponsibilities.• Assistboothcaptainswithidentifyingpotentialboothvolunteers

3 months before Fair• Meetingwithvolunteersandboothcaptainsforupdatesonresponsibilities• Sendandcollectpre-Fairteachersurveys• Createguestlist• (ForFairswithAttendanceOptional)Beginpromotingtheevent

2 months before Fair• MeetwithonandoffCampusLeadersforupdatesontheirresponsibilities• MeetwithMarketingCoordinatorand/orcommitteeforupdate• Sendandcollectpre-Fairstudentsurveys• Sendstudentworksheetsandexcelspreadsheettoteachers• Establishclassroomtopicsandschedulesforeducationsessions• Confirmboothvolunteers• Finalizemediacontactlist• Finalizeguestlist• Confirmnumberofstudentsattendingandordersuppliesand/orgifts,i.e.:

-padfolios-pencils-backsacks

• Create/Reviewsignageforeachbooth• Create/Reviewoptionsheetsforeachbooth• Create/Reviewboothcaptainvolunteerorientationscript• 10-15minuteoverviewofFair


1 month before Fair• Meetwithboothcaptainsforupdatesontheirresponsibilities• Collectexcelspreadsheetswithstudentchoicesfromteachers• Sendinvitationstoguestlistandmedia• IdentifyaudioandvideoneedstovenueforFair• ReviewPowerPointcreatedbymarketingcommittee• Marketingcommitteecompleteanymaterialstobeincludedinpadfolio

-studentresourceguide-layoutofFair-Fairinstructions

3 weeks before Fair• Createstudentspendingplans• Createadditionalspendingplanswithnostudent

name,extrasforgueststeachersorothersthatwanttoexperienceFair

• Re-confirmvolunteersforbooths• Sendemailconfirmationtovolunteerswith

orientationandboothinformation• Holdgeneralmeetingwithcommittee• Reviewandupdaterealitywheeloptions

asneeded

2 weeks before Fair• MeetwithOnandOffCampusforupdatesontheir

responsibilities• Collectmediareleaseforms(ifapplicable)• Followuponinvitedguests• Confirmfilmcrew• Arrangetransportationofmaterialstofair

1 week before Fair• Sendemailremindertovolunteers–includeinformationontime,location,

parking,emergencyphonenumber,etc.• Followuponmediaattendingevent• Arrangefoodforvolunteersdayofevent• Ensurematerialsareready: -leatherfolders(forstudents) -signage -boothoptions -standstoholdsignage -tablesandchairsavailableatsite


Fair Date• Setupvolunteercheckinandensurethereisfoodforvolunteers• Meetwithvolunteersbeforestudentsarrivefororientation• Distributet-shirtsandnametagsforvolunteers(ifapplicable)• Boothcaptainsshouldreviewboothspecificswithvolunteers• Ensureaudioandvideoisinplaceandworking

After Fair• Sendthankyouletterstoteachers,volunteers,principalsandguests• Meetwithteachersfordebriefofexperience–focusonwaysto

improveexperience• Schedulepost-fairmeetingwithcommitteeandreviewwhatworkedand

whatdidn’t• Distributepost-Fairsurveystovolunteers• Sendthankyoutohostfacility• Sendmediareleasewithphotostomediaoutlets• Sendthankyoutomediathatattendedevent

SAMPLE MATERIALS FOR FAIR COORDINATORS • Check-List• OptionalFloorPlan• AnticipatedFairCosts• SponsorDevelopmentLetter• OrganizationalChart• GeneratingCareerPlans


FAIR DEVELOPMENT & EXECUTION CHECKLISTTASK VOLUNTEERRESPONSIBLE

� Establishcoregroupofplanningpartners_________________________

� Recruitmembersoftheschoolcommunity_________________________

� Coordinatecurriculumintegration_________________________

� Surveystudentsonoccupationoptions_________________________

� Determinetheidealstudentattendance_________________________

� Engagemulti-sectorcollaborators_________________________

� Identifyboothcaptains_________________________

� Researchpotentialfairvenues_________________________

� Gathercollaboratorstodeterminedetails_________________________

� Assignplanningofficers_________________________

� Coordinateoutreachstrategy_________________________

� Preparepressrelease _________________________

� Establishfairbudget _________________________

� Keeporganizedlistofsponsors_________________________

� ConfirmArrangementswithallpartners_________________________

� Promotethefairtothecommunity_________________________

� Disseminateformalinvitationstothestudents_________________________

� NotifytheStateTreasuryofyourfair_________________________

� Conductthefair_________________________

� Surveystudentsaftertheyfinishthefair_________________________

� Analyzesurveyresults_________________________

� Disseminatethankyounotestopartners_________________________

� Disseminatesurveyresults&analysis_________________________

� JointheCreditforLifeBestPracticesgroup_________________________

� Contactpartnersaboutrepeatingfair_________________________


SAMPLE FAIR LAYOUT

Clothing2Tables

Furniture2Tables

Housing2Tables

Luxury2Tables

RealityCheck1Table

Nutrition&Health1Table

CareerCounseling1Table

Education1Table

Saving&

Retirem

ent

1Table

Insurance

1Table

Transportation

2Tables

Credit&Lending

3Tables

CreditCounseling

6Tables

StudentSeating


ANTICIPATED FAIR COSTSRatesreflectpricesreportedbytheAdvisoryCommittee

TheexpensesinvolvedinhostingaFinancialRealityFairaredependentuponavarietyofthingsincluding,butnotlimitedto:location,numberofattendees,materials,andvolunteers.Thefollowinginformationisprovidedasageneralguide,withtheunderstandingthatcostswillvaryuponcircumstancesandresources.

Location-Thisrangesfrom$0(noadditionalcostifhostedatschoollocation)torentalcostsatalargefacility($900-$2,000forafair).-Ifhostingmultipleschools,searchforaconvenientcommunitycollegeoruniversitythatmaydonatethespacetothecommunitybasedevent.

Materials: Costs per student-Leatherfolder(withcalculator)-$11-$15-Mechanicalpencil-.50-$1.50(alternative–regularpencilat.05)-Paperandprinting-$2.00-$4.00-Food-$3.00-$11.00

Additional materials: Start up costs vary and must be researched-Stands-Signage(onesignperboothexcept‘CreditCounselors’(2-3signs),add‘Orientation’,‘Registration’and‘FinancialEducationFair’toindividualboothsigns).-Boothoptions–3copiesofeachsheet,laminated.Thesesheetsidentifythedifferentpurchaseoptionsforeachboothandmustbecreatedtoreflectthe‘local’expenses.-Realitycheckwheelorgameboard

Volunteers: Typical costs per volunteer-T-shirt-$5.00-$8.00(optional)-Food-$3.00-$11.00-Nametag$.10-$.50


SAMPLE SPONSOR LETTER[OrganizationName][HeadOrganizer][ContactInfo]Date

Dear[PotentialDonor],

[OrganizingEntity]isaskingforyoursponsorshipofanefforttoenhancethefinancialliteracyofthestudentsinyourcommunity.

On[Date]wewillhostafinancialeducationfair;asimulationofthefinancialobstaclesstudentswillfacethroughouttheirlives.Studentswilllearneverythingfrommanagingabudgettousingacreditcardwisely.Inthiscurrenteconomicclimate,itismoreimportantthaneverthatouryouthbeequippedwiththeknowledgeandtoolstomanagetheirfinanceseffectively.Studentswillcompletevariousboothsinwhichtheyinteractfrommembersofthebusiness,non-profitandpublicsectorstolearnaboutthecostsoflivingandthefinancialdecisionstheywillmakewhentheyareadults.

[OrganizingEntity]isaskingyoutohelpuscompletethismissionbyrequestingyoursupportthroughasmallinvestmentintothisprogram.Therearemanyopportunitiesforsponsorshipofthefair,including[Xamount]tobefeaturedinthepromotionalmaterials,[Yamount]toputyoursignageonyourboothorsimplyvolunteeringtime.Ifyouhavenotvolunteeredtobeaboothcaptain,therearestillplentyofopportunitiestoputyoursignageupthroughoutthefair.

Ifyouwishtotakeadvantageofthisopportunity,pleasecontact[Name],theprojectbookkeeper,at[(xxx)-xxx-xxxx]tolearnmore.

Kindly,[Name],LeadCoordinator


SAMPLE VOLUNTEER RECRUITMENT FORMHigh School Financial Education Fair

Volunteer RegistrationWeinviteyoutoparticipateinthe___annualHighSchoolFinancialEducationFairat________in_____on______________20___.Yourpresencewillhelpusmaketheeventafun-filledandrewardingexperienceforthe250highschoolstudentsinvitedtoattend.

WeareholdingaVolunteerOrientationsessiononThursday,[DATE,TIME,LOCATION]Pleaseconfirmyourattendanceatthebottomofthisform.Duringthemeetingyouwillreviewthematerialstobeusedbythestudentsandmeetwithothervolunteers.Intheeventofinclementweather,call[NUMBER].

Pleaseprint.COMPLETEONEFORMFOREACHVOLUNTEERReturnto[ORGANIZER]viaFax[NUMBER]ore-mail[EMAIL]nolaterthan[DUEDATE]

Name:_______________________________________________Organization___________________________

Address_______________________Phone_____________Fax________________e-mail_________________Pleasemarkyourpreferencesforboothbyplacinga1(firstchoice),2and3nexttoyourchoices.Experiencedvolunteerswillbegivenfirstchoice.Otherwisewewilldoourbesttogiveyouyourchoice,butwecannotguaranteeit.

____IwillparticipateintheFairbutIwillnotbeattendingtheOrientationsession.

____IwillbeattendingtheOrientationsessionon___________________________.

Thanksforyoursupport.Ifyouneedmoreinformation,call[ORGANIZER,NUMBER]

___Housing___Transportation___Clothing___Credit(Lending)___Insurance___TrafficControl,etc.

___CareerChange___Transportation___Nutrition___Education___CreditCounseling___Savings&Retirement

___Furniture___Leisure/Luxury___Registration/Info___RealityCheck___Whereverneeded


Planning Committee:Thisisthegroupofindividualsthatwillmeetmanytimesduringtheplanningprocess.Thisincludesyourfairdirector(s),boothcaptains,on/offcampusleaders,bookkeeperandotherindividualsthatarewillingtobeheavilyinvolvedintheplanningprocess.Thiscommitteetypicallymeetsonceamonthandholdsconferencecallsasneededbetweenthosemeetingstoensureeveryoneisontask.

Fair Director(s):Thisindividualrepresentstheentitythatisinitiatingthecreationofthefairandisresponsibleforschedulingthefairmeetings,creatingatime-line,delegatingresponsibilitiesandmakingcertainthatalloftherequiredstepsaretakentohostasuccessfulfair.

On/Off Campus Leaders:Theseindividualsaretaskedwithcoordinatingalleffortseitheronoroffcampus.Usuallytheoncampusleaderisanadministratororteacherwhohasbeenheavilyinvolvedwiththefair’sdevelopmentsinceitsconception.Atypicaloffcampusleaderisamemberofafinancialinstitutionornon-profitthathasbeenheavilyinvolvedsincethebeginningaswell.Itisimportantthattheseleadershaveenoughtimeontheirschedulestocoordinatetheplanningprocessandfairdevelopment.

Booth Captains:Theseindividualsarefairvolunteersthathaveofferedtopreparevolunteerstoworktheirparticularbooth.Aboothcaptainisalsoresponsibleforverifyingtheaccuracyofthematerialsattheboothandthegeneraldesignofthe

SAMPLE ORGANIZATIONAL STRUCTURE

On/OffCampusLeaders

FairDirector

BoothCaptains

BoothVolunteers

Sponsors

BookKeeperTeachers

GuidanceCounselors


booth.Forexample,avolunteerfromalocalbankorcreditunionwouldbeanexcellentmatchforbankingandsavingboothcaptain.

Booth Volunteers:Theseindividualscomefromanysectorofthecommunity—private,public,ornon-profit—thatofferstofacilitateboothresponsibilitiesand/orcontributestimetoplanningthefair.However,anothervolunteerrolecouldbeworkingwithastudenttofilmthefairinactioninordertoproduceapromotionalvideotohelpraisefuturefundingsourcesforthefair.

Teachers/Administration/Guidance Counselors:Forthepurposesofthistoolkit,itisrecommendedthatthePrincipalsand/orDepartmentHeadsdeterminethebestmethodfordeliveringthefairrelatedclassroommaterialandthenumberofhoursspentdoingso.Someschoolsinvitevolunteersfromlocalfinancialinstitutionstoexplainsomeofthefinancialdecisiontheywillbefacedwithatthefair.Othergroupsbuildthefairpreparationintoalargegroupassembly.Inaddition,manygroupshavefounditmosteffectivetoallowtheguidancedepartmenttointegratecross-curriculaprep-workforthefairinavarietyofsubjects.

Book Keeper:Selectonepersontokeeptrackofallcostsandexpenditurestomakesurethefairstayswithinbudget.

Sponsors: Manyfairsaremadepossiblewhenlocalbusinessesconsidertheirinvolvementasociallyresponsibleactivity.Theseentities,includingbanksandcreditunions,maycontributein-kinddonations,financialdonations,and/orvolunteerresources.

BRINGING IT ALL TOGETHER!TheFairDirectoroverseesmanymovingpartsofafairandoneofthemostinvolvedcomponentsofthefairishowtocoordinatethestudentsspendingplans.Theoverallspendingplanisdependantupontheselectedcareer,income,andeducationalcosts,federalandstatetaxwithholding,socialsecuritywithholding,creditscore,creditandcardlimit.SupplementalinstructionstoassistfaircoordinatorswithtakingtheinformationcollectedintheStudentParticipantProfileandhowittranslatesontotheirpersonalizedspendingplan.


SAMPLE CAREER SELECTION

Scenario GrossAnnualSalary

GrossMonthlyIncome

FederalTax(28%)

StateTax(5.3%)

Soc.Security&Medicare(7.65%)

TotalDeductions

NetMonthlyIncome

Savings StudentLoans

StudentLoanPayment

CreditCardBalance

1 32,500 2,709 759 144 208 1,111 1,598 2,350 5,000 75 8002 34,000 2,834 794 151 217 1,162 1,672 2,525 5,100 75 9003 38,750 3,230 905 172 248 1,325 1,905 2,575 6,000 100 1,1254 39,500 3,292 922 175 252 1,349 1,943 2,625 8,500 100 9505 37,250 3,105 870 165 238 1,273 1,832 2,675 8,250 100 7506 38,500 3,209 899 171 246 1,316 1,893 2,750 4,000 100 9007 44,150 3,680 1,031 196 282 1,509 2,171 3,150 12,500 150 1,1008 43,000 3,584 1,004 190 275 1,469 2,115 3,325 15,000 125 1,0509 45,000 3,750 1,050 199 287 1,536 2,214 3,375 17,000 175 1,10010 47,000 3,917 1,097 208 300 1,605 2,312 3,400 25,000 185 1,17511 53,000 4,417 1,237 235 338 1,810 2,607 3,450 30,000 200 1,07512 58,750 4,896 1,371 260 375 2,006 2,890 3,525 45,000 205 1,200

NOTE: For Sample Occupations list, see page 43.

SAMPLE MATERIALS FOR VOLUNTEERS • BoothDescriptions• Product/PriceWorksheets• VolunteerEvaluationForm


BOOTH DESCRIPTIONSThefollowingboothdescriptionsexplainthetransactionsthattakeplaceateachbooth.EachactivityalignstotheNationalJump$tartStandardsinK–12FinancialEducation(www.jumpstart.org).Thesestandardsdescribewhatpersonalfinanceinstructionshouldenablestudentstoknowanddo.Thestandardsfallintosixmajorcategoriesofpersonalfinancewithafocusonanoverallcompetency:

1.FinancialResponsibilityandDecisionMaking2.PlanningandMoneymanagement3.IncomeandCareers4.CreditandDebt5.RiskManagementandInsurance6.SavingandInvesting

Financial Responsibility and Decision MakingApplyreliableinformationandsystematicdecisionmakingtopersonalfinancialdecisions

All Booths:Thiscategorypertainstotheoverallfairexperienceandthetransactionsmadeateverybooth.Studentsmustmakeconsumerdrivendecisionsbasedontheinformationathand,theirindividualvalues,andtheirfinancialknowledge.

Planning and Money Management BoothsOrganizeandplanpersonalfinancesanduseabudgettomanagecashflow

Housing:Studentschoosewhatsizeapartmentorhousetheywanttolivein.ARealEstateCompanyorHousingAuthoritymaybeinterestedinservingastheboothcaptain.Boothvolunteerswillpresentthevarioushousingoptionsandhowmuchtheywillcostsshorttermandlongterm.Ifstudentswishtoownahome,theymustreceiveamortgagefromthelendingbooth.Studentswillhavetoaccountforutilitiescostsandalsochoosetelevision,Internet,and,ifdesired,aphoneplan.Ifrenting,someapartmentscouldcomefurnishedandmustbebuiltintotheprice.

Furniture:Thisboothpresentsvariousqualityandcostoffurniturebrandsrangingfromluxurytoitemsfoundatayardsale.Boothcaptainstendtobefurnituresalespeoplewhohaveanexpertiseforthecostsoffurnitureandtheappropriateamountforaspecificallysizedhome/apartment.Someapartmentsmaycomefurnished.

Health/Nutrition:Helpsstudentscreateafoodbudgetandchoosehealthinsurance.Somenon-profitsorhealthinsuranceagenciesareagoodfittorunthisbooth.Thisboothpresentsthecostsofthehealthinsuranceprovidedbythestudent’semployerorhowmuchaprivateinsuranceplanwouldcost.Theyalsohelpstudentsestablishagrocerybudgetanddiningoutbudget.


Thisboothcanbeusedtoteachstudentsaboutsmartshoppingideas,likecouponuseanddiscretionaryspending.

Clothing:Thisboothcanrequirestudentstopurchasebothprofessionalandcasualwardrobe.Volunteerswillofferpricingforstudentsonclothingtheywouldneedfortheiroccupationandhelpthemchoosewhatclothestopurchasethatfitintheirbudget.(SeeSampleBoothPricing,onpage39)

Transportation:Presenttransportationoptionsforthestudentsrangingfromcostsofpublictransportationtosellingthemaneworusedcar.Realcardealersareagoodfitasaboothcaptainandvolunteersexplaintostudentsthecostsofowningorleasingacarversusthecostsofpublictransportation.Theywillhelpthestudentsdeterminewhatmodeoftransportationiswisebasedontheirproximitytotheirjobandtheamountofavailablefundstheyhave.Volunteersatthisboothwillalsohelpstudentscalculateadditionalexpenseslikemaintenance,gas,andinsurance.Agreatstipulationforthisboothisthatanemergencyprofessionalthatcouldbeoncallcannotchooseto“takethebus”foritisnotconducivetothecareerchoice.

Reality Check:Thisboothsimulatesunexpectedeventsthatcanleadtomajorfinancialconsequencesorasuddencashwindfall.Theobjectiveofthisboothistopreparestudentsforhowtohandlethesesituationsandlikelyappreciatetheimportanceofhavinganemergencyfund.Inaddition,itpresentsthechallengedirectingacashwindfalltoone’ssavings,investments,debtobligations,orperhapschoosingtopurchaseanewluxuryitem.

Charity/Community Service:Thisboothoffersacommunityserviceactivityforsuchaswritingthank-youletterstomilitaryservicemembersand/ortheoptiontodonateaportionoftheirincometoacharity.

Luxury:Studentsareofferedluxuryitemsor“wants”thatcouldbemistakenbystudentsfor“needs.”Thisisagreatboothforcreativitybutexpensivecellphones,electronics,beautyproducts,andvacationsareagreatplacetostart.

•Cell Phone:Assessesthestudent’sneedforacellphoneandwhattypeofphoneisrecommended.Forstudentswithoutalandlineintheirhome,acellphonewillbeanecessity.Boothvolunteerswillgooverphoneplansandhelpthestudentdecidewhethertheyneedasmartphoneorapayasyougobasicphone.•Beauty:Thiscomponenthelpsstudentsunderstandthecostsofcosmeticsandhairstyling.Volunteerswillhelpstudentsassesshowoftentheyneedtogettheirhaircutandhowoftentheywillneedtopurchasenewcosmetics.•Electronics:StudentswillchoosewhatkindofTVandcomputertheywant,aswellasotherelectronicslikevideogames,soundsystems,etc.•Vacations/Entertainment:Studentswillassesswhatcostsareassociatedwiththeirsociallives,suchasvacationingandnightlife.


Income and Career BoothsUseacareerplantodeveloppersonalincomepotential

Registration:Thisboothchecksinthestudentsandgivesthemallmaterialsforthefair,includingtheircareerprofile,spendingplanandpossiblytheircreditscore.Thisboothislocatedattheentrancetothefairandcanalsobeusedforcareercounseling[bestprovidedbyaguidancecounselor]tohelpstudentschangeoccupationsiftheydesireorfindaparttimejobtosupplementtheirincome.

Education:Thisboothexplainsthecollegeloanpaymentbasedontheirselectedcareerpath.Volunteersexplaintostudentshowmuchtheywillneedinstudentloansandwhatmajortheywouldneedtoenrollin.Thisboothistypicallyrunbyaguidancecounselororfinancialaidofficerfromalocaluniversityorcollege.AgreatresourcetoshareatthisboothisavailablethroughMassachusettsEducationalFinancingAuthority,MEFA,calledYourPlanFortheFuture.www.yourplanforthefuture.org

Career Counseling:Thisboothprovidesoccupationalprofilesandhighereducationadvicerelativetothestudents’chosenprofession.Itprovidesstudentswithinformationoninterviewingtipsanddressforsuccesstips.Theycanalsogetinterviewedforaparttimejob.Thecareercounselorwillinterviewthemanddetermineiftheyarequalified.Usuallyonlyafewdozenparttimejobsareoffered.

Credit & Lending BoothsMaintaincreditworthiness,borrowatfavorableterms,andmanagedebt

Credit/Lending:Providesloanstostudents.Theboothfunctionslikeatypicallenderandisusuallystaffedbyfinancialindustryemployees.Volunteerswillhelpstudentsfigureoutwhattypeofloantheyneedandpresentthemtheterms,whichthestudentscaneitheracceptorreject.Theyexplaincreditscoresandtheconsequencesofbadcreditscores,whichisakeycomponentofthefair.Theyalsohelpstudentsunderstandhowtheywouldhavetopaybacktheirloans.Studentscansignupforcreditcardsatthisboothaswell.

Credit Counseling:Thisboothassistsstudentswithfilling-outtheirspendingplans.Studentscanconsultwiththecounselorsontheirspendingplan,helpingthemcutcostsanddeterminewhatkindofborrowingtheymayneed.Oftenthisboothisrunbyactualcreditcounselorsandcanhelpstudentsunderstandeverythingfrominterestratestobrokeragefees.Boothvolunteerswilldoafinalassessmentofthestudent’sspendingplanafterthestudenthascompletedeachbooth.Pleasenotestudentsshouldcometothisboothwithacompletedspendingplanattheend.


Saving and Investing BoothImplementadiversifiedinvestmentstrategythatiscompatiblewithpersonalgoals

Saving and Investing:Helpsstudentsplanforretirementandmanageafinancialportfolio.Studentswillchoosehowtoinvesttheirsavingswiththeadviceofaboothvolunteer,whoistypicallyafinancialindustryemployeewithknowledgeofsavingsandinvestment.

Risk Management and Insurance BoothsUseappropriateandcost-effectiveriskmanagementstrategies

Insurance:Explainsthecostsofauto,rental,home,andlifeinsurance.Typicallycaptainedbyaninsurancebroker,studentsmustvisitthisboothafterpurchasingorleasingacarandafterchoosingtheirlivingspace.Boothvolunteerswillexplaininsuranceplansandensurethatstudentshaveallnecessarycoverage.

Safety & Taxes:Thisboothteachesstudentshowtomanageonlinepersonalsecurity,advocateagainstbullying,andunderstandhowtaxesaffecttheirincomeandspending.Liketherealitycheckbooth,thisboothoffersstudentstospinawheelordrawacardthatwillresultinapositiveornegativeeventthatimpactstheirpersonalsecurity.Thiscanincludeanythingfromalossofmoneyduetoidentitythefttoasmalltaxrefund.


BOOTH CAPTAIN INSTRUCTIONS FOR A SUCCESSFUL BOOTH 1.Recruiting Volunteers:Proventargetaudiencestoapproachabout

volunteeringatyourboothincludeparents,co-workers,localrotarymembers,localcommunityorstatecollegesandlocalsmallbusinesses.

2.Designing an Engaging Booth:Itisimportanttodesignaneducationalbooth,butithelpsifitisinteractiveandfun.ItisniceiftheFairCoordinatorprovidessignageforallboothsforeasiernavigationforthestudents.Somefairshaveevenorderedtablecloths,pipeanddrape.JustafewcreativeexamplesthattheAdvisoryCommitteehassharedinclude:

3.Providing a Booth Pricing Page(s): Seepage39forasamplepricingpagefortheclothingbooth.Theinformationonthispageisverystraightforwardandisonlyprovidedasaguide.Boothcaptainsareencouragedtoadaptthepricingpagetoincludecolorfulimagesandcustomizedchoicestoappealtothecommunitythefairisserving.

4.Relate the Booth Activity to the National Jump$tart Standards: Ifboothcaptainsarehopingtoquantifywhatstudentsarelearningattheirbooth,theyshouldconsiderhowtheirboothactivityconnectstotheNationalJump$tartStandards.FindtheStandardsat:http://jumpstart.org/assets/files/standard_book-ALL.pdf

Forexample:TheClothingBoothcanapplythePlanning&MoneyManagementCategory/Standard4:ApplyConsumerSkillstoPurchaseDecisions,becausethisboothrequiresthestudentto“applycomparisonshoppingskillstopurchasingdecisions.”


SAMPLE BOOTH PRICING PAGEClothing

It’simportanttochooseawardrobethatallowsyoudressbothprofessionalandcasual.Theclothingboothrequiresyoutochooseyourattireforyourjobandattirefortherestoftheweek.Keepinmindthatmostbusinessattirerequiresprofessionalcleaningeveryfewweeksorso.Youarerequiredtochooseaplanthatincludestheattireappropriateorrequiredforyourchosenoccupation.Pleaseconsulttheboothcaptaintoapproveyourclothingsection.

Clothing Plan Description Cost Per Month

BusinessProfessional Includessuits,sportcoatsandslacksordressesandpantsuitswithdressshirtsanddressshoes.Alsoincludescasualwearlikeshirts,jeans,socks,shoesandshorts.Thisplanisforprofessionalsinindustriessuchasfinance,law,governmentandcommunications/PR.

$150

BusinessCasual Containsmuchofthesameasbusinessprofessional,butwithoutthesuit.Stillrequiresajacketforimportanteventsormeetings.Thisplanisforemployeesinmostofficesandtheserviceindustry.

$100

Casual Consistsofmostlycollaredshirts,teeshirts,shortsandpants.Thisplanismeantforsomeserviceindustryjobsaswellascontractorsandconstructionworkers.Thisplanincludesnon-workcasualwear.

$50

Uniform Includesseveralsetsofuniformsforthoseinthemedical,firefighting,policeorserviceindustrythatrequiresaspecificuniform.Alsoincludescasualwear.Someuniformsrequireprofessionalcleaning.

$100


SAMPLE VOLUNTEER EVALUATION(Pleaseusethebackforadditionalcomments.)

1. Didyoufeelpreparedforpresentingtheboothmaterialstothestudents?

2. Doyouthinkthisfairwillaffectthewaytheparticipantssaveorspendmoney?

3. WhatdidyouenjoymostabouttheFair?

4. WhatdidyoufindthemostchallengingaboutbeingavolunteerattheFair?

5. WhatcanbedonetoimprovetheFair?

SAMPLE MATERIALS FOR STUDENTS• GeneralFairInstructions• OccupationList• ParticipantProfile• StudentEvaluationForms• SpendingPlanwithInstructions


SAMPLE FAIR DAY INSTRUCTIONS FOR STUDENTSThisisasampleformandmayneedtobeadjustedtomatchyourparticularfairformat.

WelcometotheFinancialEducationFair!Youhavetheopportunitytosimulatethetypesoffinancialdecisionsthatyouwillbemakingasadults.Atthiseventyouwillchooseeverythingfromyouroccupationtoyourfurniturewhilemaintainingabalanceofneedsandwants.Beginbyvisitingtheregistrationboothandthenbeseatedfortheintroductoryremarks.Youwillsoonbeinstructedtobeginthefairbyvisitingthevariousboothstosimulateyourlifechoices.PleasevisittheCreditCounselingboothatanytimetoaskquestionsaboutyourchoicesandfinishthefairatthisboothinordertoreceiveafinalassessmentofyourdecisions.You must visit all booths.

1.Gototheregistrationboothwhereyouwillpick-upyourcareerprofile,receiveyourcreditscore,andgetyourspendingplan.

2.Visitallofthebooths.Haveyourspendingplansignedbytheboothcaptainsaftereachtransaction.

3.PeriodicallycheckinattheCreditCounselingboothtodeterminehowmuchyoucanaffordtosaveandhowwellyouaremanagingyourfinances.

4.Ifyourunoutofmoney,youcanvisittheCreditCounselingboothforadviceonhowtotrimyourcostsorfindaparttimejob.

5.Taketimetocalculateeachtransactionandmanageyourmoneycorrectly.Don’tbeafraidtodiscussyourchoiceswithyourfriends.

6.GototheCreditCounselingboothwhenyouhavecompletedalltheboothsandreceiveyourfinalassessment.

7.Saveallyourfairmaterialsforfollowupactivities.

8.FilloutandReturnyourStudentEvaluationForm.


CREDIT FAIR OCCUPATIONS SampleList–useasaguide

�ACCOUNTANT �HAIRDRESSOR�ARCHITECTURE � INTERIORDECORATOR�ARTIST � JOURNALIST�ATHLETICTRAINER �LAWYER�AUTOMECHANIC �ADVERTISING�BANKER �MEDICALASSISTANT�BUSINESSMANAGEMENT �MASSAGETHERAPIST�CARPENTER �MILITARY�CEO �NURSE�CHEF �PHARMACIST�COMMUNICATIONS �PHOTOGRAPHY�COMPUTERENGINEER �PHYSICALTHERAPIST�COMPUTERTECHNICIAN �PHYSICIAN�CONSTRUCTIONMGMT. �PILOT�EARLYCHILDHOODED. �POLICEOFFICER�ELECTRICIAN �GOVERNMENT�ENGINEERING �PROFESSIONALATHLETE�FASHIONDESIGNER �PSYCHOLOGIST�FBIAGENT �REALESTATEAGENT�FIREFIGHTER �SALESPERSON�GRAPHICDESIGNER �SOCIALWORKER�VETERINARYTECH �SPORTSMANAGEMENT�TRANSLATOR �TEACHER


SAMPLE CAREER PROFILE

Significant Points:Mostjobsrequireatleastabachelor’sdegreeinaccountingorarelatedfield.Overall,jobopportunitiesshouldbefavorable,althoughjobseekerswhoobtainprofessionalrecognitionthroughcertificationoflicensure,amaster’sdegree,proficiencyinaccountingandauditingcomputersoftware,orotherspecializedexpertisewillhaveanadvantage.Anincreaseinthenumberofbusinesses,changingfinanciallawsandregulations,andincreasedscrutinyofcompanyfinanceswilldrivegrowthofaccountantsandauditors.

Nature of the Work:AccountantsandauditorshelptoensurethattheNation’sfirmsarerunefficiently,itspublicrecordskeptaccurately,anditstaxespaidproperlyandontime.Theyperformvitalfunctionsbyofferinganincreasinglywidearrayofbusinessandaccountingservicestotheirclients.Theseservicesincludepublic,managementandgovernmentaccounting,aswellasinternalauditing.Beyondthefundamentaltasksoftheoccupation-preparing,analyzing,andverifyingfinancialdocumentsinordertoprovideinformationtoclients-manyaccountantsnowarerequiredtopossessawiderangeofknowledgeandskills.Accountantsandauditorsarebroadeningtheservicestheyoffertoincludebudgetanalysis,financialandinvestmentplanning,informationtechnologyconsulting,andlimitedlegalservices.Specificjobdutiesvarywidelyamongthefourmajorfieldsofaccounting:public,management,governmentandinternal.Licensing, Training, Other Qualifications, and Advancement:Mostaccountantandauditorpositionsrequireatleastabachelor’sdegreeinaccountingorarelatedfield.BeginningaccountingandauditingpositionsintheFederalGovernment,forexample,usuallyrequire4yearsofcollege(including24semesterhoursinaccountingorauditing)oranequivalentcombinationofeducationandexperience.Someemployerspreferapplicantswithamaster’sdegreeinaccountingorwithamaster’sdegreeinbusinessadministrationwithaconcentrationinaccounting.Previousexperienceinaccountingorauditingcanhelpanapplicantgetajob.Manycollegesofferstudentsanopportunitytogainexperiencethroughsummerorpart-timeinternshipprogramsconductedbypublicaccountingorbusinessfirms.Inaddition,practicalknowledgeofcomputersandtheirapplicationsinaccountingandinternalauditingisagreatassetforjobseekersintheaccountingfield.Accountantsandauditorsalsocanseektoobtainotherformsofcredentialsfromprofessionalsocietiesonavoluntarybasis.Voluntarycertificationcanattesttoprofessionalcompetenceinaspecializedfieldofaccountingandauditing.Italsocancertifythatarecognizedlevelofprofessionalcompetencehasbeenachievedbyaccountantsandauditorswhohaveacquiredsomeskillsonthejob,withouttheformaleducationorpublicaccountingworkexperienceneededtomeettherigorousstandardsrequiredtotaketheCPAexamination.

ACCOUNTANT


Job Outlook:Employmentofaccountantsandauditorsisexpectedtogrowaboutasfastastheaverageforalloccupationsthroughtheyear2012.Anincreaseinthenumberofbusinesses,changingfinanciallawsandregulations,andincreasedscrutinyofcompanyfinanceswilldrivegrowth.Inadditiontoopeningsresultingfromgrowth,theneedtoreplaceaccountantsandauditorswhoretireortransfertootheroccupationswillproducenumerousjobopeningsinthislargeoccupation.

Earnings:In2002,themedianwageandsalaryannualearningsofaccountantsandauditorswere$47,000.Themiddlehalfoftheoccupationearnedbetween$37,210and$61,630.Thetop10%ofaccountantsandauditorsearnedmorethan$82,730andthebottom10%earnedlessthan$30,320.In2002,medianannualearningsintheindustriesemployingthelargestnumbersofaccountantsandauditorswere: FederalGovernment $51,070 Accounting,taxprep,bookkeeping&payrollservices 49,520 Managementofcompaniesandenterprises 49,110 LocalGovernment 44,690 StateGovernment 42,680AccordingtoasalarysurveyconductedbytheNationalAssociationofCollegesandEmployers,bachelor’sdegreecandidatesinaccountingreceivedstartingoffersaveraging$40,647ayearin2003;master’sdegreecandidatesinaccountingwereinitiallyoffered$42,241.Accordingtoa2003salarysurveyconductedbyRobertHalfInternational,astaffingservicesfirmspecializinginaccountingandfinance,accountantsandauditorswithuptooneyearofexperienceearnedbetween$29.500and$40,500.

Related Vocabulary:Scrutiny-Aclose,carefulexaminationorstudy.

Credentials-Thatwhichentitlesonetoconfidence,creditorauthority.

Vital-Necessarytocontinuedexistenceoreffectiveness;essential

Auditor-Apersonappointedandauthorizedtoauditorexamineanaccountoraccounts,comparethechargeswiththevouchers,examinethepartiesandwitnesses,alloworrejectcharges,andstatethebalance.

SAMPLE CAREER PROFILE (CONTINUED)


SAMPLE PARTICIPANT PROFILEAsaparticipantintheHighSchoolFinancialEducationFairon[DATE, TIME, LOCATION]youwillreceiveanoccupationalscenariothatdescribesyourlifeatage25includingjobtitle,income,deductions,maritalstatus,healthstatus,assets,debts,creditprofile,etc.Basedonthatinformation,youwillbeaskedtocompleteaonemonthspendingplanbyvisitingboothsthatrepresentthemajormonthlyspendingcategories.Tohelpusdevelopthescenarios,wewouldlikeyoutocompletethisparticipantprofile.

Whattypeofcareerareyouinterestedin?_____________________________

Areyouplanningtoattendcollegeaftergraduation? YESNO IfYES,whatwillyoumajorin?_____________________________________

Areyouplanningtoattendatradeortechnicalschoolaftergraduation?YESNO IfYES,whattradeortechnologyareaareyouinterestin? _______________________________________________

Wouldyouwanttobepairedupwithsomeoneatthefair(tobeamarriedcouple)?YESNO

IfYES,towhom?_________________________________________

(Please Print)

NAME_______________________________________GRADE_______CURRENTCLASS__________________________________________TEACHER______________________________________


Teacher:

Mo. PymntsSavingsCredit

AmountIN Booths Expense Items Money w/ccard Mo. Pymnts

1st & last/securityrentheat & elect.purchaseslaundry/cleaning

Educ. Training cont. ed coursesgroceriesdining outheath clubcell phone servicecable/internetpocket moneyentertainmentmisc. gifts & CDshaircuts/tats/nailsVacationspurchasesyard saleauto insurancelife insurancerenter's insurance Amounthealth insurancesavings accountretirment IRA 5%

Crdt Couseling Late/misc feespublic transport.auto loan pymnt Deposits Subtotalmaint./excise tax Withdrawals Subtotalgasoline

Reality Check any misc. pymntComm. Service money/time gift

Total Total Monthly

Purchases BudgetCareer Counseling Withdrawn

Student Loan AmountMo. Student Loan Pymnt

Student Loan Status

New Purchases

ClothingEducational TrainingHealth & Nutrition

Booth

Personal LuxuryFurniture

Insurance

SavingsAdditional Savings

Total Savings

Credit Score:

Credit Card Status

Cash from Savings

Credit Card Payment

late fee $40/month

Credit Card Purchases

Housing

Income Information For:

SPENDING PLAN - MOUNTHLY BUDGET (Please Complete in Pencil)

Card UsedMo. Payroll Tax

Beginning Credit Card InfoCredit Limit

Available Credit

Profession:Annual Income

Results of Credit Fair

Gross Mo. income

Net Mo. PayAdditional Job Pay

Tot Net Mo. Pay

Housing

Clothing

Savings & Retirement

New Balance

Total Savings

Transportation

Furniture

Initial Balance:

Total of New Purchases:

Credit Card Summary

Monthly Payment

Savings Account Summary

Health & Nutrition

Pers. Luxury

Insurance

Reality Check

Existing Balance

Community Service

Transportation

New Saving Balance

DepositsDescription


SAMPLE STUDENT INSTRUCTIONS FOR SPENDING PLAN

Introduction YouwillusethespendingplanasaroadmaptonavigatingthevariousboothsatFinancialEducationFair.Thisspendingplanisusedduringthefairbutmayalsobeusedbyteachersforlearningandeducationintheclassroom.Yourteacherswillgiveyoufurtherinstructionsaboutthespendingplanduringthefair.TheinformationbelowwillassistyouwiththeSpendingPlan.All booths must be visited during the fair.

IncomeInformation(Topoffrontside)

Thegrossmonthlysalary,minusmonthlydeductionswillequalnetmonthlyincome(takehomepay).

GrossMonthlySalary Federaltax:partofyourpaycheckgoestopayfederaltax.Statetax:partofyourpaycheckgoestopaystatetax.SocialSecurity:partofyourpaycheckgoestopaysocialsecurity,whichwillberepaidtoyouwhenyouareaseniorcitizen.Part-timejobcandidatessuccessfullycompletingtheinterviewingprocesswillhaveadditionalincomeaddedtothespendingplaninother monthly incomeandwillbeprovidedthenewNet Monthly Incomeamount.

SpendingPlanDetail Visiteachboothlistedintheboothcategory.BoothRepresentatives/Volunteerswillbepresentoptionsandthefollowingdecisionswillbemadebasedontheinformationprovidedatthebooth:StudentOptions:• Makeaselectionateachoftheboothandrecorditinyour

CheckingAccount.Theoptionswillbeexplainedclearlyateachbooth(i.e.theHousingBoothwillprovidedifferentlivingoptionsandexpenses).

• DecideiftheexpensewillbepaidbyCash(netmonthlyincomerecordedinyourcheckingaccount),CreditCardoryourSavingsAccount.

• RecordtheexpenseinthecorrectcolumninyourCheckingAccount.Iftheexpenseisfromsavingspleaserecordtheexpenseinyoursavingsaccount.

• Havetheboothvolunteerinitialyourspendingplan.• Continueuntilallboothshavebeenvisited.BesuretofrequentlyvisittheCreditCounselingBooth.BeforeproceedingtotheCreditCounselingBoothbesuretohaveasubtotalineachpaymentchoicecolumn.


SAMPLE STUDENT EVALUATION(STAND ALONE FAIR MODEL)

(Pleaseusethebackforadditionalcomments.)

1. Whatwasthebestinformationaboutmanagingmoneythatyoulearnedtoday?

2. HowhasthisFairchangethewayyousaveorspendmoney?

3. WhatdidyouenjoymostabouttheFair?

4. WhatdidyoufindthemostchallengingabouttheFair?

5. WhatpreparedyouthemostforthedecisionmakingattheFair?


SAMPLE STUDENT EVALUATION(CAPSTONE FAIR MODEL)

PleaseselectonlyoneanswerThis is a sample form and may need to be adjusted to match your particular fair.

1.TheclassroomassignmentsinpreparationfortheFairwere-�veryhelpful �somewhathelpful�nothelpful �IdidnotcompletetheassignmentPleaseexplainyouranswer:HistoryClass(CareerExplorationActivity):______________________________________________________________________________________________________________________________________________MathClass(SpendingPlan):_______________________________________________________________

2.Howcouldtheassignmentsbeimprovedtobetterservestudents?__________________________________________________________________________________________________________________________________________________________________________________________________

3.Beforethefair,howdidyoudecidewhichprofile(job)tochoose?� Iknowsomeonewhodoesthisforaliving�SomethingIalwayswantedtodo� Ithoughtthejobwouldpayalotofmoney� Iwantedtotrysomethingdifferentandlearnmoreaboutit � Ithoughtitwasajobthatwouldalwaysbeindemandandhad

growthopportunities� IusedthehistoryassignmenttogatherinformationinpreparationforFair� Ididnotcompletetheassignmentandmyteacherassignedtheprofile(job)tome

4.Whichcareer(job)didyouselect?_________________________________

5.Whatdidyoulearnfromtheassignmentthatyoudidnotalreadyknow?___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

6.Inyourmathclasswhenyoucompletedyourspendingplan,whatsurprisedyouthemost?______________________________________________________________________________________________________________________________________________________________________________________

7.ThebooththatIfoundmostimportanttomewas-�Transportation �Credit/Lending�Furniture �Housing�Clothing �Savings�HealthandNutrition �Education/Training� Insurance �Other(specify)____________________________


8.WhatdidyouchoosetodoforCommunityService?�donatemoney �donatetime

9.Ifoundthemostdifficultpartofthefairtobe–�understandingwhatthecreditcounselorsweresayingtome� trackingwhetherornotIwasoverspending�decidingonthebestchoicesformeateachbooth�other:________________________________________

10.Didyouapplyforacreditcard? �Yes�No

11.Ithinktherealpurposeofthisfairwasto-�showmehowmanydifferentoptionsthereareforspendingmymoney� teachmehowtoprioritizemybillsandotherspending�showmejusthowexpensiveitistolive� teachmetounderstandcreditandhowtouseitresponsibly

12.Pleaserankyourfavoritethreebooths,numberonebeingthebest.Baseduponthefollowingcriteria:thisboothmademethink,wasvisuallyappealing,thevolunteersatthisboothwerehelpfulandgavemegreatadvice…

Pleaselistanyotherimprovementsyoucanthinkofthatwouldhelpmakethisfairbetter:__________________________________________________________________________________________________________________________________________________________________________________________________

Top Three Booths

Clothing

Community Service

Credit Counselors

Credit/Lending

Education/Training

Furniture

Health & Nutrition

Housing

Insurance

Personal Luxury

Reality Check

Savings

Transportation

SAMPLE MATERIALS FOR TEACHERS

• Pre-FairLessons(IntegratedwithAlgebra2)• PermissionSlips&Scripts• OccupationProfiles• Activities,Challenges&Resources• NationalK-12PersonalFinanceStandardsbytheJump$tartCoalition


PRE-FAIR LESSON PLANSThelessonplansavailableinthistoolkitaremeanttopreparestudentsforthedecisionstheywillmakethedayofthefair.Theycovereachbooththatstudentswillencounter.Teachersshouldfeelwelcometoutilizetheselessonsinthemannerthatworksbestfortheirclassroom.Thelessonsareconsideredanopensourcesoteachersmaymakeadjustmentstothelessonsastheyseefitfortheirclassroom.Teachersmayalsochoosetouseonlyafewofthelessonsbeforethefairiftimeconstraintsareanissue.

ThelessonswereoriginallyauthoredbyMaryC.FrittereroftheMathDepartmentatFraminghamHighSchoolforherAlgebra2class.WewouldliketothankMs.FrittererforhergenerouscontributiontotheYouthFinancialEducationToolkit.


Name: _______________________________ Algebra 2 Finance Project

Introduction & Project Expectations: Forthisproject,youworkinBostonandcurrentlymakeabout$48,000ayearaftertaxes.Inordertosurvive,itisnecessarytogettoandfromwork,haveaplacetolive,andbuyfood.Asayoungprofessional,youneedtomakeimportantdecisions.Inordertodoso,youneedtoknowallofyouroptions.Inthisproject,youwillcreateapersonalbudgetforyourselfbasedonthisincome.Youwillberesearchingcostsassociatedwithtransportation,housing,andmore.Youwillalsogainanunderstandingofinterestratesassociatedwithcarloansand/ormortgages.First,youmustdecidewhethertoliveineitherBostonorFramingham.IfyouliveinFramingham,youwillneedacartogettowork.However,youwillonlyrelyonpublictransportation(theMBTA)ifyouliveinBoston.Afteryouhavedecidedwheretolive,followthesestepstocompletetheproject:

TASK COMPLETED?

1. CompletetheIdealBudgetWorksheet(ontheotherside).

2. CompletetheTransportationCostsWorksheet.

3. CompletetheFoodandEntertainmentCostsWorksheet.

4. CompletetheHouseBuyingGuideWorksheet.

5. CompletetheRenterGuideWorksheet

6. CompletetheCreditCardWorksheet

7. CompletetheHigherEducation:HumanCapitalWorksheet

8. ReturntoyourIdealBudgetWorksheetandmakesuretofillinthe“WHATYOUWANTTOSPEND”andthe“ARESPENDINGMOREORLESS?”columns.

9. CompletetheProjectSummaryWorksheet.

10. Makeanorganizedportfoliobinderofallcompletedworksheetsandprintoutsfromtheinternet.


IDEAL BUDGET WORKSHEET Youryearlyincome(aftertaxes)is$48,000.Usethistoanswerthefollowingquestions.Youaregoingtocreateabudgetbasedonyourmonthlyincome.Atfirst,youwillonlyfillinthe“WHATWERECOMMEND”column.Asyoucompleteeachbudgetworksheet,youmaychoosetodecidetospendhowevermuchmoneyyouwantineachcategory(the“WHATYOUWANTTOSPEND”column).However,keepinmindthatthetotalMUSTequalyourmonthlyincome.BUDGET ITEM WHAT WE

RECOMMENDWHAT YOU WANT TO SPEND

ARE YOU SPENDING MORE OR LESS?

TransportationFraminghamCarPaymentCarInsuranceGasORBostonMBTAPass

15%ofmonthlywages$_____________

Food & EntertainmentFoodCellPhoneBillCable&InternetBillExtras

30%ofmonthlywages

$_____________HousingMortgage PaymentHomeInsuranceORRent PaymentRentalInsurance?

30%ofmonthlywages

$_____________Credit Card 10%ofthetotalcredit

cardbalance

$_____________Student Loan Payment 3%ofmonthlywages

$_____________Savings 25%ofmonthlywages

$_____________TOTAL

$3,320.00 $_____________


LESSON PLAN: TRANSPORTATION COSTSSuggestedTargetAge:HighSchoolTopicsCovered:transportationcosts,totaltransportationresponsibilities

What the Students Will Learn:• Thatit’simportanttoweightthecostsandbenefitsoftransportationinrelationtotheirsalary.• Howtodecidewhattypeofvehicleiswithinyourbudgetarymeansifyouchoosetopurchaseacar.• Tofactorinoutsidecoststhatcomewithavehiclesuchasinsuranceandfuel.

Materials Needed:• Transportationworksheet• Costsfordifferenttransportationoptionsoraccesstotheinternetforstudentstofindtheirownoptions.

Teacher Preparation:1.Readthescenarioandtwooptionsstudentswillusetomaketheirtransportationchoice.2.Ifthereisnointernetaccessthenprovidethestudentswithuptodatepricesfortheoptions.Thisshouldinclude:a)CostofmonthlyMBTApasswithinBostonb)Monthlycarpaymentcostofatleastthree(3)makesandmodelsofcarsinvaryingconditions.c)Estimatedfuelandinsurancecostsforthethree(3)typesofvehicles.

Lesson Plan:1.Gatherthestudentstogetherintheclassroomandtellthemthattodaytheyaregoingtobelearningabouttransportationcosts.2.Handoutthetransportationcostsworksheetandexplainthescenario:•YouworkinBostonandmustchooseaplacetolive•Option#1istoliveinBostonnearyourworkandusetheMBTA.•Option#2istoliveinFraminghamandpurchaseacar.•RememberthatthelivingexpensesinBostonarehigherthaninFraminghamandthesechoiceswillaffectyouwhenyouchoosewheretobuyahouse.


TRANSPORTATION COSTS WORKSHEETIfyoudecidetoliveinBoston,youwillrelyonpublictransportation(theMBTA).IfyouchosetoliveinFramingham,youmustpurchaseacar.

Option #1: BOSTONGotohttp://www.mbta.comandresearchthecostofamonthlypassthatincludesbothSubwayandBusservice.Recordtheamountbelowandprintthepage.

Option #2: FRAMINGHAM Step1:Decidewhichtypeofcaryouwouldliketopurchase(make,model,year,etc.).Usehttp://www.edmunds.comtoresearchtypicalsellingprices.Clickonthe“NewCars”or“UsedCars”linkstobeginresearchingprices.Pleaserecordthemake,model,year,andpriceofyourcarbelowandprintthepage:

Make:__________ Model:__________Year:___________Price:_____________

Step2:Usinghttp://www.edmunds.com/calculators/simplified-pricing.html,inputyourcar’spriceandcalculateyourmonthlypayments.Recordtheamountbelowandprintthepage.MonthlyCarPayment:______________

Step3:Nowusehttp://www.edmunds.com/tco.htmltoestimateyourfuelandinsurancecosts.Inputyourcar’sinformationfromStep1andpress“Go.”Fromthe“5YearDetails”chart,recordthefollowingamountsfrom“Year1”below,andprintthepage.AnnualFuelCost:________________ AnnualInsuranceCost:__________________Pleaseconvertthesetomonthlycosts:MonthlyFuelCost:_______________ MonthlyInsuranceCost:_________________

Step4:UsingthecostsyouresearchedinSteps2and3,findyourmonthlytransportationcosts.

ITEM MONTHLYCOST

MBTAMonthlyPass $

ITEM MONTHLYCOST

MonthlyCarPayment $MonthlyFuelCost $MonthlyInsuranceCost $MONTHLYTOTAL $


LESSON PLAN: FOOD & ENTERTAINMENT BUDGETSuggestedTargetAge:HighSchoolTopicsCovered:independentliving,simplebudgeting,andmanagingexpenses

What the Students Will Learn:• Theywilldeveloptheskillsandknowledgenecessarytointerpretandevaluateleaseandrentalagreements• Theywilllearnthebasicsoflandlordandtenantrightsandresponsibilities

Materials Required: • Food&EntertainmentCostsWorksheet

Teacher Preparation: Toprepareforthislessonyoushouldreviewthefood&entertainmentcostsworksheet.Researchthetypicalcostsforeachitemontheworksheetbyvisitingthewebsitesaccompanyingeachcategory.Researchhistoricalfluctuationsofeachcategoryandreviewthiswithstudents.Forexample,speakwithyourstudentsabouthownaturaldisasterscangreatlyimpactthecostofparticularfooditemsorhowinitialscostsforcable/internetpackagesareusuallyonlyintroductoryratesthatendafteraperiodoftime.

(NOTE:Ifyoudon’thavecomputersavailableforthestudentsandwouldstillliketodothisexerciseinclass,thenpleasevisitthewebsitesforeachcategoryandprintoutpacketsofthemostrecentmonthlycostestimatesofeachitem).

Lesson Plan:Set-Up:Gatherstudentstogetherinaclassroomsettingwithcomputersavailableorhandoutasahomeworkassignment.Introduction:Explainthattoday’sclassfocusedonlivingindependentlyonabudget.Todaythefocuswillbeonbudgetingandlearninghowtoestimatemonthlycosts.


FOOD & ENTERTAINMENT COSTS WORKSHEETStep 1:Estimateyourmonthlygrocery(food)costs.Visithttp://www.cnpp.usda.gov/usdafoodcost-home.htmandselectthemostrecentavailablemonthlyestimatesforfood.Chooseanappropriateestimate,recordtheamountbelow,andprintthepagethatshowstheestimates.

Step 2:Pickacellphoneproviderandplan.Somesuggestedsitesarehttp://www.verizonwireless.com,http://www.sprint.com,http://www.att.com,http://www.t-mobile.com,etc.Pleaserecordthepricebelowandprintthepagethatshowsyourplananditscost.

Step 3:Decidewhetheryouwillhavecableand/orinternetaccess.ForbothBostonandFramingham,youroptionsareComcast(http://www.comcast.com),RCN(http://www.rcn.com),orVerizon(http://www22.verizon.com/?residential=true).Werecommendsearchingfora“Bundle”thatincludesbothcableandinternetaccess.Onceyouhavefoundaplanforcableand/orinternet,recordthepricebelow,andprintthepagethatshowsthecost.

Step 4:Estimatesomeofyourextracosts.Forexample,howoftenwillyouattendthemovieseachmonth?DoyouplantosubscribetoNetflix?Howoftenwillyougotoeatatrestaurants?Pleaseprintanyinformationthatyouusetomakeyourestimatebelow.

Step 5:CalculateyourTOTALMonthlyEntertainmentBudgetfromSteps1–4.

MonthlyFoodEstimate:_________________

MonthlyCellPhoneCost:_________________

MonthlyCable/InternetCost:_________________

ExtrasMonthlyEstimate:_________________

ITEM COSTMonthlyFoodEstimate $

MonthlyCellPhoneCost $

MonthlyCable/InternetCost $

ExtrasMonthlyEstimate $

MONTHLYTOTAL $


LESSON PLAN: RENTINGSuggestedTargetAge:Grades10-12Source:Lessonadaptedfrommaterialsfromwww.practicalmoneyskills.comandwww.consumerjungle.orgTopicsCovered:independentliving,leases,landlord-tenantrelations

What the Students Will Learn:• Theywilldeveloptheskillsandknowledgenecessarytoresearchapartmentrentals

Materials Required: • Accesstonewspaperclassifiedsection.• Rentalworksheet

Teacher Preparation:Beforeyouteachthislesson,youshouldrefreshyourownknowledgeofthebasicsofleasesandlandlord-tenantrelations.Forexample,leasestypicallyarefora12-monthperiod.Renterscanalsolookforrentalagreementsthataremonth-to-month.Aleasewillhaveinitthetermsandconditionsincludinglength,monthlypaymentamount,anddatepaymentsaredueeachmonth,feesforlatepayment,thenameofthelessorandlessee,andtheaddresswheretherentshouldbesent.

Alsoreviewthefollowingdocuments:RightsandresponsibilitiesoftenantsRightsandresponsibilitiesoflandlords

Lesson Plan:1.Usingtheclassifiedads,studentsshouldsearchfortheirown1bedroomapartmentineitherFraminghamorBoston.2.Theyshouldcarefullytaketheadtheychoseandbeginfillingouttheirworksheet.3.Ifastudentchoosestorentinsteadofownahometheyshouldaddtheexpenseoftheapartmenttheychosetotheirfinalbudgetworksheet.4.Ifastudentdecidestorentthisisthetimetoallowtheopportunitytopurchaserentalinsurance.Iftheydecidetopurchasetheyshouldaddanother$25permonthtotheirfinalbudgetworksheet.


RENTER GUIDE WORKSHEET

1. Howmuchismonthlyrent?

2. Areanyutilitiesincludedintherent?(Ifyes,listtheincludedutilities)

3. Howmuchwillyoupayinrentperyear?

4. Isthisayear-longleaseormonthtomonthrental?

5. Howmanybathroomsarethere?

6. Aretherelaundryfacilitiesonsite?(Ifyes,aretheyfree?)

7. Willyouneedtofurnishit?

8. Isitnearanypublictransportation?

9. Arepetsallowed?


LESSON PLAN: BUYING A HOMESuggestedTargetAge:HighSchoolTopicsCovered:independentliving,mortgagecalculation

What the Students Will Learn:• Theywilldeveloptheskillsandknowledgenecessarytointerpretandevaluatemortgageoptions

Materials Required:• HouseBuyingGuideWorksheet• IntroMortgageCalculatorWorksheet

Teacher Preparation:Beforeyouteachthislesson,youshouldrefreshyourownknowledgeofthebasicsofmortgagecalculations,creditreportsandcreditscores.NOTE:Thislessonrequiresthatthestudentshaveaccesstoacomputer.Itcanbealternativelyassignedashomeworkorteacherscanresearchthesitesrequiredontheworksheetandpresenttheinformationneededtothestudents.

Lesson Plan:1.Gatherthestudentstogetherintheclassroomandtellthemthattodaytheyaregoingtobelearningaboutmortgagesandpurchasingahome.

2.First,explaintheoptionsofvariedrepaymentplansinmortgages.•Thereareusuallytheoptionsofa15yearor30yearrepayment

3.Whenstudentsaredoneresearchingtheratesforeachrepaymenttimeaskthefollowingquestions:•Whatarethedifferentratesforeachamountofrepaymenttime?•Whydoyouthinkthereisadifference?

4.Next,askstudentstomoveontotheHouseBuyingGuideandchooseatowntopurchasehomein.

5.Theywillthenchoosethelocationandtypeofloanthattheywilluse.DiscussthedifferencesinthepriceofthecommunitiesandtypesofmortgageforeachcommunitywhentheycompletetheIntrotoHouseBuyingGuide.


INTRO MORTGAGE CALCULATOR WORKSHEETStep 1: Gotogoogle.comandsearch“currentmortgagerates.”Thefirstresultshouldgiveyoutoday’scurrentmortgageratesfora30-yearfixedanda15-yearfixedmortgage.RecordthesebelowandPRINTTHISPAGE.

30-yearfixedrate:______________

Step 2: Gotohttp://www.bankrate.com/calculators/mortgages/mortgage-calculator-tool.aspx

Pretendyouwouldliketobuyahouseworth$1,000,000witha30-yearmortgage.Typethisinformationintothecalculatorunder“MortgageAmount”and“MortgageTerm.”Useyour30-yearinterestratefromStep1.Findyourmonthlypaymentbyclicking“Calculate.”

Howmuchareyourmonthlypaymentsforthe$1,000,000home?

Areyouabletoaffordthishouse,basedonyouridealbudget?


INTRO TO HOUSE BUYING GUIDESHOPPINGFORAHOUSE:Gotohttp://www.trulia.com/MA/Boston/orhttp://www.trulia.com/MA/Framingham/andresearchhousepricesinBostonandFramingham.Intheleft-handcolumn,youcanaddinaminimumandmaximumpricetohelpwithyoursearching.Findahousethatyoulikewithinyourpricerange,andprintthehousepictureandinformation.Sinceyouhavenomoneyforadownpayment,thepriceofyourhousewillbethesameasyourmortgageamount.

Option #1: 15 Year Mortgage

Step1:Re-writethe15-yearfixedratemortgagefromtheIntroMortgageCalculatorWorksheetbelowintheInterestRate(%)column.

Step 2:Gotohttp://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspxandinputtheMortgageAmount,MortgageTermandInterestRateintothemortgagecalculator

Step 3:ClickontheCalculatebuttontocalculateyourmonthlypaymentandrecorditbelow.

Step 4:ClickontheShow/RecalculateAmortizationTableButtonatthebottom

Step 5:Findthetotalinterestcolumn(2ndfromtheright)ontheAmortizationTable.FollowthiscolumnandscrolldowntotheverybottomtofindandrecordtheTotalInterestPaid.Printthispageforyourrecords.

Step 6:TotalInterestPaid+OriginalMortgageAmount=TotalAmountPaid.RecordtheTOTALamountthatwillpayforyourhousebelow.WOW!

MortgageAmount:_____________________

MortgageTerm(years) InterestRate(%)15

MonthlyPayment

TotalInterestPaid


Option #2: 30 Year Mortgage Step 1:Re-writethe30-yearfixedratemortgagefromtheIntroMortgageCalculatorWorksheetbelowintheInterestRate(%)column.

Step 2:Gotohttp://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspxandinputtheMortgageAmount,MortgageTermandInterestRateintothemortgagecalculator

Step 3:ClickontheCalculatebuttontocalculateyourmonthlypaymentandrecorditbelow.



Step 6:TotalInterestPaid+OriginalMortgageAmount=TotalAmountPaid.RecordtheTOTALamountthatwillpayforyourhousebelow.WOW!

Option #3: 30 Year Mortgage (with an extra yearly mortgage payment every April)Step 1:Youwillbeusingallofthesameinformationfromyour30yearmortgage.Re-writeitbelow.

Step 2:EnterallofthedatafromStep 1intothemortgagecalculatorathttp://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx

TotalAmountPaid

MortgageTerm(years) InterestRate(%)15

MonthlyPayment

TotalInterestPaid

TotalAmountPaid

InterestRate MonthlyPayment MortgageTerm(years)


Step 3:TypeinyourmonthlypaymentunderExtraPayments,Adding$:_______________asanextrayearlymortgagepaymenteveryApril.



Step 6:TotalInterestPaid+OriginalMortgageAmount=TotalAmountPaid.RecordtheTOTALamountthatwillpayforyourhousebelow.

Step 7:Comparethesevaluestothepreviousworksheet.Whatdoyouobserve?

Option #4: 30 Year Mortgage (with a 0.5% decrease in interest rate)Step 1: EnterintheMortgageamountandMortgageterm(30years)totheMortgageCalculatorathttp://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx

Step 2: DecreaseyourInterestRateby.5%andenteryournewInterestRateintothecalculator.

Step 3:ClickontheCalculatebuttontocalculateyournewmonthlypaymentandrecorditbelow.

Step 4:ClickontheShow/RecalculateAmortizationTableButtonatthebottomStep 5:Findthetotalinterestcolumn(2ndfromtheright)ontheAmortizationTable.FollowthiscolumnandscrolldowntotheverybottomtofindandrecordtheTotalInterestPaid.Printthispageforyourrecords.

Step 6: TotalInterestPaid+OriginalMortgageAmount=TotalAmountPaid.RecordtheTOTALamountthatwillpayforyourhousebelow.

Step7:Comparethesevaluestothepreviousworksheet.Whatdoyouobserve?

TotalInterestPaid

TotalAmountPaid

TotalInterestPaid

TotalAmountPaid

MonthlyPayment


LESSON PLAN: CREDIT CARDSSuggestedTargetAge:HighSchoolTopicsCovered:responsibleuseofcredit;commoncreditblunders

What the Students Will Learn:• Thatit’simportanttoreadthefineprintoncreditcardoffers• Whatsomecommoncreditcardfeesare(e.g.,over-the-limitfee,latefees)• Tipsforresponsibleuseofcredit

Materials Needed:• Examplecreditcardstatement

NOTE: This lesson does not require computers and Internet access.

Teacher Preparation:1.Readthroughtheexamplecreditcardstatement.2.Reviewthetermsdefinedbelow.

Lesson Plan:o Gatherthestudentstogetherintheclassroomandtellthemthattodaytheyaregoingtobelearningaboutcreditanddebt.o Examinetheexamplecreditcardstatementwithstudents,explainingthatthisisamonthly“bill.”o Discussterminologyinthequestionsbelow.Checkwithyourclasstobesuretheyunderstandcriticalterms.Pointouteachelementonthecreditcardstatementasyoudefinetheterms:•Whatisacredit line?(Acreditlineisatypeofshort-termloan.Thecreditlineonthisstatementis$1,200.)•Whatisabalance?(Abalanceisthetotalamountofmoneyowedonacreditcard.Onthisbillingstatementthenewbalanceis$125.24.)•Whatis interest?(Interestismoneypaidfortheuseofborrowedfunds.Itisalsocalledafinancecharge,asonthisstatement.)•Whatistheprincipal?(Theprincipalistheamountoriginallyborrowedbeforeinterestorfinancechargeshavebeenaddedtothetotalbalance.)•Whatisaninterest rate?(Aninterestrateisthepercentagerateoftheinterestpaid;forexample,thiscreditcardprovidercharges19.80%ayeartoitscustomersontheirbalances.)•Whatisthe minimum payment?(Theminimumpaymentistheamountyoumustpaytoavoidadditionalpenaltiesandfees.Theminimumpaymentforthisstatementis$20.)

o Askstudentstocompletethecreditcardworksheet.o Attheendofthelessonstudentsshouldapplythesamecreditcarddebtasfoundintheworksheettotheirtotalbudgetsanddecideuponthemonthlypaymenttheywouldliketomake.


CREDIT CARD WORKSHEET: PAYING THE MINIMUMHowlongwillittaketopayoffthiscreditcardifnootherchargesaremadethisyear?

PrincipalBalance=$1,000

InterestRate=10%

Payingonlytheminimumpaymenteachmonth(fixedpaymentof$20.00)

Paying10%oftheprincipalbal-anceeachmonth(fixedpaymentof$100.00)

MonthlyPayment $20.00 $100.00

AmountAppliedtoPrincipalAmountAppliedtoInterestTotalTimetoPayOffBalanceTotalCostofBorrowing


LESSON PLAN: HIGHER EDUCATIONSuggestedTargetAge:Grades9-12TopicsCovered:humancapital,jobs,labor,salarySource:PowellCenterforEconomicLiteracyTimeRequired:30-45minutes

What the Students Will Learn:• thattheirskills,talents,interests,andeducationmakeuptheirpersonalhumancapital• thattheirhumancapitalaffectstheirabilitytoearnanincome• investingintheirhumancapitalincreasestheirearningpotential

Materials Needed:• CopyofHigherEducation:HumanCapitalWorksheet• Recentdataabouttuitiontolocal2and4yearcollegesaswellasvocationalschools.oRecentstatecommunitycollegesanduniversitiescanbefoundhere:

http://www.mass.edu/campuses/res_tuition.aspoSearchbasedonaparticularvocationalprogramforaveragetuitionhere:

http://www.american-school-search.com• Recentdataaboutrealpeople’sincomes.Sources:oBureauofLaborStatistics,“WagesbyAreaandOccupation”http://www.bls.gov/bls/blswage.htm

Definitions:Labor: humaneffort(physicalandmentalwork)usedintheproductionofgoodsandservicesCapital:man-maderesourcesusedinproduction:buildings,machines,&toolsIncome:paymentsmadetotheownersofresourceswhentheresourcesareusedinproductionWages and salaries:theincomepaidtolabor,ortheincomepeoplemakewhentheyworkinproductionHuman capital:theskills,talentsandeducationthatincreasethevalueofpeople’slaborInvesting in human capital:spendingtime,effort,andmoneyontrainingandeducationforthepurposeofmakinglabormoreproductiveandvaluableDemand:thedesireforaproduct,andthewillingnessandabilitytopayforit

Lesson Plan:1.Inthislesson,wewillbelookingathowyoucanearnanincomeinoureconomy.2.Let’sreviewwhatwealreadyknowaboutscarcity,resources,productionandincomes,andthenlet’stalkabouthowpeopleearnincomesandwhatdetermineshowmuchincometheyearn.


Review:• productionandjobsresultfromdemandforgoodsandservices• thecircularflowshowshowpeople’sspendingforgoodsandservices

becomesincomeforworkers• laborisaresourcethatweallown• theincomepeopleearnfromcontributingtheirlabortoproductioniscalled

wagesandsalaries3.Sinceeverypersonownsatleastoneresource–hisorherownlabor–mostpeopleearntheirincomesgettingajob–whichsimplymeansagreeingtoletsomeoneelseuseyourlaborinreturnforwagesorsalary.Hereisalistofsomerealpeople,theirjobs,andtheirincomes:

• Michellecoffeeshopclerk,NewYork$8,000• Jasonfireinvestigator,Mississippi$46,000• Joeengineer,Colorado$65,000• Ginaelementaryteacher,Texas$39,000• Carlahighschoolcounselor,Illinois$68,000• Michellecourtreporter,NewJersey$90,000• Jimmiepolicechief,Tennessee$124,000• MegCEOofInternetCo.,California$800,000• JanineBusdriver,Virginia$22,000

4.Whydosomejobspaymorethanothers?Onereasonisthatdifferentjobsrequiredifferentlevelsofknowledgeanddifferentskills.And,theopportunitycostsofgettingtheskillsandknowledgediffersfromoccupationtooccupation.

• Forexample,doesanyoneknowhowlongyouhavetogotoschooltobealawyer?K-12 plus 6 or 7 years of college.• Whataboutalabtechnician?K-12 plus 2 years of tech school.• Whataboutafastfoodworker?Maybe only K-8. Fast Food restaurants hire teenagers.• Whataboutthemanagerofafastfoodrestaurant? K-12 plus 4 years of college, or K-12 plus lots of experience and on-the-job training.• Whataboutateacher? K-12 plus 4 years of college.• Afamousactororartist? It depends. Some have a great deal of education and others just have talent and experience.

Ifyougotoschooltobealawyer,youinvestalotoftimeandmoney.Collegeandlawschoolareveryexpensive.Also,whileyouarestudyingallthistime,youarenotearningmoneyworking.Soyouinvestalottobealawyer.Whenyoufinishlawschool,youhavealotofsomethingeconomistscallhumancapital.Humancapitalistheskills,talent,andeducationthatincreasepeople’svalueinproducinggoodsandservices. Whenwetalkedabouttheresourcecapital,wesaidthatitincludesbuildings,machines,andtools–allofwhichmakeproductioneasier.Thinkofhumancapitalas“mentaltools”thatmakeyouamoreproductiveworker.Ontheotherhand,somepeoplehaveagreatdealofhumancapitalasaresultnotoftheireducation,butoftalentsorskillstheypossess,thatcanbeusedtoproducethegoodsandservicespeoplewant.Somefamousentertainersareinthisgroup.


HIGHER EDUCATION: HUMAN CAPITAL WORKSHEETWriteanoccupationineachoftheblanksbelow.Thefirstoccupationshouldbethejobofsomeoneyouknow.Thesecondoccupationshouldbeajobthatyou’reinterestedin.

Fill out the answers to the following questions with your teacher. Then compare the answers and see how the human capital needed to do a job relates to the income you make and also the investment you must make to develop the human capital.

--Howmuchschoolingdoyouneedtohavetodothisjob?Job#1_______________:Yrsofschooling________________.Costofschooling______________Job#2_______________:Yrsofschooling________________.Costofschooling______________

--Whatspecialcapital(tools,factory,computers,officespace)isneededforthisjob?Job#1_______________:capitalneeded__________________.Costofcapital______________Job#2_______________:capitalneeded__________________.Costofcapital______________

--Whyisthisjobimportanttosociety?Doesitproduceagoodorservice?Whathumanwantdoesitsatisfy?Job#1______________:whyimportant?__________________.goodorservice?__________whathumanwantdoesthisjobaddress?_______________________________Job#1______________:whyimportant?__________________.goodorservice?___________whathumandoesthisjobaddress?_______________________________

--Whataresomethingsyouwouldlikeabouthavingthisjob?Job#1:________________________________________________.Job#2:__________________________________________________.

--Whataresomethingsyoumightnotlikeaboutdoingthisjob?Job#1:________________________________________________.Job#2:__________________________________________________.

--Whichoccupationrequiresagreaterinvestmentinhumancapital?____________________________________________________________________________________________________________________________________________________________________________________________________________________

--Acost/benefitanalysisofchoosinganoccupationshouldincludecomparingtheinvestmentinhumancapitalandtheresultingincome.Ifyoumadeacost/benefitanalysisofthesetwooccupations,whichwouldyouchooseandwhy?__________________________________________________________________________________________________________________________________________________________________________________________________


LESSON PLAN: INSURANCESuggestedTargetAge:Grades9-12Sources:Unit6oftheNEFE’sHighSchoolFinancialPlanningProgram;StateFarm’sCommonCent$siteTopicsCovered:riskmanagementandtransfer,insurance

What the Students Will Learn:• Thedifferenttypesofriskstheyshouldbeawareofasteenagersandwhatriskstheywillneedtoprepareforastheybecomeadults.• Whatinsuranceandinvestmentsareandhowtheyenablepeopletosuccessfullymanagerisks.• Thedifferenttypesofinsuranceandinvestments• Howtodeterminewhichriskmanagementproductsareappropriateindifferentsituations

Materials Needed:• TheHandofFateGame• “SharingtheRisksHandout”• “InsuranceBasicsHandout”

Teacher Preparation:Studentsthathavedecidedtorentwillthenchoosewhetherornottopurchaserentalinsurance.Studentsthatchoosetopurchaserentalinsuranceshouldadd$25/monthtotheirbudgetworksheet.

Lesson Plan:1.Askthestudentswhatriskis(thechanceoflossfromsometypeofdisaster).Havethembrainstormaboutthedifferenttypesofriskstheyfaceasteenagers.Examplesmightincludegettinghurtinacarwreckorwhileridingtheirbike;havingtheirbike,phone,backpack,etc.stolen;orgettingjumpedbyagang.

2.Nexthavethemthinkaboutthesortsofriskstheymayfaceasadults.Examplesmightincludegettingcancer;gettinglaidofffromajob;havingafireorfloodruintheirhome;havingaspousedieorgetveryill.

3.Explaintothestudentsthefourwaysofdealingwithrisk:a)Avoidtherisk.Forexample,don’trideinacarifthedriverhasbeendrinking.b)Reducetherisk.Sincemanyriskscannotbeavoidedaltogether,themorepracticalchoiceistryingtoreducetherisk.Risk-reducingbehaviorscouldincludealwayswearingyourseatbelt,lockingupyourbike,oravoidingwalkingarounddangerouspartsoftheneighborhoodaftermidnight.c)Accepttherisk.Thisisgoodifthelikelihoodofdangerorlossisverysmallorthelossitselfwillnothavemajorconsequencesinyourlife.Forexample,itmightbeveryinconvenienttogowithoutabackpack,soyouuseoneeven


thoughthereissomechanceofitbeingstolen.d)Sharetherisk.Thisiswhatinsuranceandinvestmentsdo,especiallyinsurance.Youpaytheinsurancecompaniesasumofmoneyalittle,andifdisasteroccurs,theyhelpyouhandletheloss.

4.HavethempreparetoplaytheHandofFategame.GoherefortheGameOverview,whichalsoincludeslinkstothedownloadablecomponentsofthegame.Inthisgame,studentswillreadaboutthedifferenttypesofriskmanagementproductsavailable,andtakeaquizonhowtousethemappropriately.Dependingontheabilityofyourclass,youmaywanttogooverthedifferentproductswiththemasaclass.Theproductsarehealthinsurance,homeownerinsurance/condominiuminsurance,rentersinsurance,supplementalinsurance,autoinsurance,lifeinsurance,and“rainydaysavings.”

5.Studentswillthengoontoplaythegame.Inthisgame,theyaregivenashortprofileofdifferentpeopleandtheymustchoosefiveproductstheythinkwillbestcontroltheriskoffinanciallossforthathypotheticalperson.Thegamethengeneratesdifferentcalamitiesordisasters,andthestudentsmustchooseaproductfromthefivethey’vechosentodealwiththeissue.Iftheycandealsuccessfullywithfourlossesandbeunsuccessfulatlessthanthree,theywinthegame.

6.Allowthestudentstokeepplayingforaslongastheyneedtounderstandthedifferentproducts.

7.Nextyouwilltalktothestudentsaboutsomebasicsofinsuranceandhowitworks.

8.Studentswhohavedecidedtopurchaseacarorahomeareobligatedtoalsopurchaseinsurance.Howeverstudentsthatchoosetorentmayalsochoosewhetherornottopurchaserentalinsurancetocovertheirbelongings.

9.Studentsthatchoosetoaddrentalinsuranceshouldthenaddthistotheirbudgetworksheet.


LESSON PLAN: REALITY CHECK!SuggestedTargetAge:Grades9-12TopicsCovered:unexpectedexpenses

What the Students Will Learn:• Tofactorinunpredictableexpensesintotheirmonthlybudgets

Materials Needed:• Realitycheckscenarios• One6sideddie

Lesson Plan:1.Eachstudentwillhaveonechancetorollthedie.2.Eachnumbercorrespondstotherealitycheckscenarioslistedbelow.3.Studentswillhavetofactortherealitycheckscenariotheyreceivedintotheirfinalbudget.

# Senario1 Yourhouse/apartmenthasbeenbrokeninto.Ifyouarearenterwithoutin-

suranceyoumustspend$400tore-furnishyourhome.2 Youwentoveryourdatausageforthemonthsoyourcellphonebillishigh.

Youmustspendanextra$100topaythebill.3 Yourbestfriendhasinvitedyoutobeintheirwedding.Youmustspend$200

topurchasethesuit/dressrequiredandbuythemaweddinggift.4 Thepriceofgasisontherise.Addanextra$50tothecostofcommutingif

youdriveacar.5 Yourcreditcardpaymentwaslate.Nowyoumustpaya$50latefee.6 YourGreatAuntLucyrememberedyourbirthdayafewmonthslateandsent

along$100.Youcanspendthisorsaveit.


SAMPLE LETTER FOR TEACHERS FROM THE FAIR COORDINATOR / PRINCIPAL:To:TeachersFrom:(InsertName),FinancialEducationFairCoordinatorCC:PrincipalXYZ

Pleasereadtheattacheddescriptionaboutthefairtoyourclass.Studentswhoareinterestedinattendingthefairshouldsignupwithyou(formenclosed).

Pleasereturntheformstome[FairCoordinatororOnCampusLeader].

Whenstudentsareinterestedinsigningthesheet,givethemthefollowingnoticefortheirperiod___toexcusethemforamoredetailedinformationmeetingwiththeFairPlanningCommitteeon:

[DATE,TIME,LOCATION]

IFTHEYSIGNUPBUTDONOTATTENDTHEINFORMATIONSESSIONON[DATE],THEY ABSOLUTELY CANNOTATTENDTHEFAIR.

ThankYou!


SAMPLE SCRIPT FOR TEACHERS TO INTRODUCE THE FAIR TO STUDENTS:

It’stimetoputyourknowledgetoworkandtestyourfinancialmanagementskills![Add“Becauseyouhavesuccessfullycompletedthisclass”ifitistrue.]Youareinvitedby[Hosts/MajorSponsors]toattendtheannual“HighSchoolFinancialEducationFair”heldat[Location,Date].

Thefairisaone-day,interactivefinancialdecision-makingfairthatillustratesbasicpersonalfinancialmanagementskills.Youaregivenafinancialprofileofyourselfatage25withtheoccupationthatyouchooseandfiguresonincome,debtandsavings(basedontheinformationyougiveusatthemeeting).

Thedayofthefairyouwillleave[Location,Time]andjourneyto[fairvenue].Oncethere,youwillreceiveapersonalportfoliobinderwithalltheinformationyouneedtovisitvariousboothsincludinghousing,transportation,nutrition,insurance,creditandsavingstodevelopabudgetforonemonth.A“fun,fun,fun”boothisalsoincludedaspartoftheprocess,temptingyoutopurchasecellphones,vacations,cellphones,andotherluxuryitems.

Thisisagreatday!Youwilllearnalotaboutbudgetingandfinanceandtherewillbelotsof“surprises”asthedayprogresses.

SIGNUPWITHYOURTEACHERTODAYSOYOUWILLBEGUARANTEEDASPACE.WEARELIMITEDTO(#____)STUDENTS!

TeacherSignature_____________________________________________


PERMISSION SLIP & MEDIA RELEASE

ATTENDANCE CONSENT(PleasePrint)

Parent/Guardian_____________________________________________________________________________

DaytimePhone_________________________________________________________

I_____________________________________(studentname)amrequestingparticipationintheHighSchoolFinancialEducationFairtobeheldat[DATE/TIME/LOCATION].Iagreetofollowtherulesoftheschoolandrulesofthefairandacceptdecisionsmadebymyteacherandeventorganizers.

MEDIA CONSENT

Bysigningthisform,thisstudentandparent/guardianindicatesconsenttothereleaseofinformationrelativetothestudent’sparticipationintheHighSchoolFinancialEducationFair.Thisincludes,butisnotlimitedto,thereleaseofphotographs,video,andthestudent’scompletedworksheets.TheHighSchoolFinancialEducationFairCommitteeshallhavetherighttoreproduce,use,anddisplay,withoutanyobligationofanykind,toanyperson,theresultsoftheday’sactivities.

____Iam18yearsoldandcansignformyself.IAGREEtothemediarelease.Date___________StudentSignature__________________________________________________________

____Iam18yearsoldandcansignformyself.I DO NOTagreetothemediarelease.Date___________StudentSignature__________________________________________________________

____Iamnot18yearsoldandmyparentsAGREEthemediarelease.Date___________SignatureofParent/Guardian____________________________________________

____Iamnot18yearsold,butmyparentsrequestedthatweDO NOTagreetothemediarelease.Date___________SignatureofParent/Guardian____________________________________________


SIGN-UP SHEET

[ORGANIZERCONTACTINFO]City/SchoolLetterhead

TO: PERIOD___CLASSROOMTEACHERS

FROM:[FairCoordinator]RE: HIGHSCHOOLFINANCIALEDUCATIONFAIRASSEMBLY

PLEASEALLOW____________________________________TOATTENDTHEHIGHSCHOOLFINANCIALEDUCATIONFAIRASSEMBLYSCHEDULEDFOR[DATE,TIME,ANDLOCATION].(S)HEINTERSTANDSTHATITISTHEIRRESPONSIBILITYTOMAKEUPANYMISSEDASSIGNMENTS.IFYOUHAVEANYQUESTIONS,PLEASECONTACTME.

Thank you for your cooperation!

Period___Teacher’sinitials______


ONLINE RESOURCES & SAMPLE ACTIVITIES4

SomeFairsCoordinatorsworkcloselywithschoolstoexplorehowtopreparestudentsforthefair.Classroompreparationneedstobeflexibletoallowteacherstocustomizetheirprogram,integratecertainmodules,orteachcomprehensivematerialasanentirecourse.Thefollowinglistofresourcesisnotintendedtobeanexhaustivelist.TheJump$tartCoalition:www.jumpstart.org

TheNationalJump$tartK-12Standardsdescribewhatpersonalfinanceinstructionshouldenablestudentstoknowanddo.Itisorganizedaccordingtosixcategories,withexpectations,knowledgestatements,andaglossary.

TheNationalJump$tartClearinghouseisapremieronlinelibraryoffinancialeducationresources,forteachers,parents,caregiversandanyonecommittedtofinancialsmartsforstudents.

TheNationalYouthFinancialCapabilityChallenge:www.challenge.treas.gov

TheU.S.TreasuryhostsanactivitycalledtheNationalFinancialCapabilityChallengeannuallyMarch–Aprilalongwithprovidinganeducatortoolkitwithturn-keylessonsforteacherstopreparestudentsforthechallenge.Massachusettsranked6thinthenationforparticipationinthe2012Challengewithnearly4,000studentparticipantsand27perfectscorers.

FairCoordinatorsandteachersmayuseJump$tart’sNationalK-12Standardsasfurtherguidanceinestablishingobjectivesforthefairorselectingclassroommaterialsandplanlessons.Theglossaryisasampleofkeyfinancialtermstoaidintheunderstandingofthestandards.TheJump$tartClearingHouseisagreatplacetoaccesslessonsthatteachtotheNationalStandards,butisnotanexhaustivelist.Additionallessonsandactivitiesarelistedbelow.

MassachusettsStateTreasurer’sOfficeencouragesschoolstoparticipateintheNationalYouthFinancialCapabilityChallenge.Allofthelessonsfoundinthiseducatortoolkitmaybeusefultopreparestudentsfora“CapstoneModelFair.”

4InvisitinganyofthefollowingwebsiteyouareleavingtheMassachusettsDepartmentoftheTreasuryWebsite.Youarego-ingtoaWebsitethatMassachusettsDepartmentoftheTreasurydoesnotcontrolandwhoseprivacypoliciesmaydiffer.


ADDITIONAL PROVEN RESOURCES

National Endowment For Financial Education:www.hsfpp.orgTreasury Direct:www.treasurydirect.gov/kids/kids.htmTreasury Direct Money Math:www.treasurydirect.gov/indiv/tools/tools_moneymath.pdfUS Comptroller:http://www.occ.gov/topics/community-affairs/publications/insights/insights-school-based-bank-savings-programs.pdfSocial Security Administration:www.socialsecurity.gov/kidsFDIC Consumer News:www.fdic.gov/consumers/consumer/news/index.htmlFDIC Money Smart:www.fdic.gov/consumers/consumer/moneysmart/young.htmlIRS Understanding Taxes:www.irs.gov/app/understandingTaxes/teacher/downloads.jspUS Mint:www.usmint.gov/kids/teachersBureau of Engraving & Printing:http://www.newmoney.gov/education_resources/youth.aspxUS Department of Education:www2.ed.gov/programs/econeducation/index.htmlFederal Reserve of New York:http://www.newyorkfed.org/education/highschool.htmlBiz Kid$:www.bizkids.comNational Council for Economic Education:www.councilforeconed.orgYoung Americans Center For Financial Education:www.yacenter.orgCenter For Student Credit Card Education:www.theabcsofcredit.com/#/Home-01-00/Family Economics & Financial Education:www.fefe.arizona.eduFoolproof Teacher:www.foolproofteacher.comIt All Adds Up:www.italladdsup.orgJunior Achievement Student Center:studentcenter.ja.org/Pages/default.aspxThe Stock Market Game:www.smg2000.org/index.htmlThirteen Ed:www.thirteen.org/edonline/lessons/index.htmlCaution with Credit:www.cautionwithcredit.com


SAMPLE CAREER SELECTION ASSIGNMENTName_________________________________________________________Occupation___________________________________________________SocialScienceDepartment/FinancialLiteracyStudentAssignmentforthe___________________FinancialEducationFairPleaseusethewww.masscis.intocareers.orgorwww.collegeboard.orgsite,andanyotherresourcesavailabletoyou,tocompletethisassignment.

What is an occupation?Anoccupationisajobwithuniquefeatures.Thefeaturesthatmakeanoccupationdifferentfromothersareduties,levelsofresponsibility,skills,knowledge,andphysicaldemands.Choosinganoccupationthatyoulikeisimportant.Makesuretheoccupationalsoinvolvesdoingsomethingyoufindinteresting.Thinkaboutbothyourlong-termandyourshort-termgoals.www.MassCIS.intocareers.org

1. List some of the tasks and common work activities specific to your occupation.

2. What skills and abilities are required?

3. What education or training is required?

4. What is the employment/job outlook for skilled/trained workers in your occupation?

5. What is the starting yearly wage (salary) you can expect to make?


TOOL KIT EVALUATION FORMPleaseinformMassachusettsStateTreasurer’sOfficeifthetoolkithasbeenhelpfulforfaircoordinatorsandhowitcanbeimproved.WestrivetohelpcommunitiesthroughouttheCommonwealthestablishsuccessfulfairsthathelpthenextgenerationofstudentstograduatehavingbeentaughtthecorecompetenciesoffinancialeducation;earning/spending,saving,investing,borrowing,andprotecting.

Howdidthetoolkitspecificallyhelpyoudevelopyourfair?_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Whatismissingfromthistoolkitthatshouldbeincludedinfutureeditions?______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Didyoutrytoincludeanythingthatwasnotinthistoolkit?Wasitsuccessful?_____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Whatchangesdoyouwanttomaketoyourfairnextyear?_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________


Optional Fair Info

ContactName(s): _________________________________________________________________________________________________

Phone(s):_________________________________________________________________________________________________

E-mail(s):_________________________________________________________________________________________________

Name&addressofschool(s)participating:_________________________________________________________________________________________________Date(s)ofFairs:______________________________________________________________________________NumberofStudentParticipants:____________________________________________________________NumberofBooths:____________________________________________________________________________

Please Return via Mail: MassachusettsStateTreasurer’sOfficeTheStateHouseRoom227Boston,MA02133

Scan and email: [email protected]: 617-248-0372

Questions? Please call 617-367-6900 x615

Your feedback is greatly appreciated!

the youth financial education fair tool kit

Documents