ele:Vate Economic Literacy Education: Vital Assets for Transformation & Empowerment Training for the 3 rd “R”

1. ele:Vate • Economic Literacy Education: • Vital Assets for • Transformation & Empowerment • Training for the 3rd “R”

2. ele:Vate • Mission: to help Christian community ministry practitioners educate and excite urban youth about economics, financial literacy, and entrepreneurship.

3. CCDA’s 3rd “R”: It’s About Community Economic Development • Developing the capacities and potentialities of people and of neighborhoods to bring greater hope and renewal to economically distressed areas • Small business development & job creation • Job training, job placement, job retention • Raising up indigenous entrepreneurs • Successful integration into the mainstream economy – e.g., managing credit, building assets

4. CCDA’s Method • With each of the 3 “R”s, workshops try to discuss… • WHAT it is • WHY it matters • WHAT the Word has to say about it • WHAT it looks like • HOW to advance it • HOW others have done it

5. This Workshop’s 2 Mandates • Lay the Biblical foundation or framework • (2) Offer introductory thoughts on practical application

6. The ele:Vate Workshop Track Thurs 1:00: Biblical Foundations of Economic Literacy Thurs 2:45: Economic Education for Urban Youth Friday 1:00:Can you trust me with your credit card? Friday 2:45: The Job Club Sat 1:00-4:00 Creating True Wealth—Youth Entrepreneurship Parts I & II

7. FOUR BIBLICAL PARADIGMS • THE CREATION PARADIGM • THE CONSUMATION PARADIGM • THE WISE LAW PARADIGM • 4.THE KINGDOM PARADIGM

8. The CREATION Paradigm • 4 Central Themes • CREATIVITY: man is made in God’s image (Gen. 1:26). The main characteristic we see of God in this part of scripture is that God is creative. • 2. Our VICEREGENCY: God grants humankind dominion over nature, to steward it with authority, responsibility & care; man names things (Gen. 1:28-30; 2:15; 2:19) • 3. WORK that is pleasurable, fruitful, productive, satisfying • 4. FREEDOM (it’s implicit and makes possible the first three themes)

9. The CONSUMMATION Paradigm • Central Themes • Our VICEREGENCY: Rev. 22:5 talks about how we–the fully redeemed people of God–will reign forever and ever. • 2. We see CREATIVITY & pleasurable WORK

10. The Consummation Paradigm A Radical Reality: The kings of the earth will bring their splendor into it [the New Jerusalem]. -- Rev. 21:24

11. The WISE LAW Paradigm • Central Themes • Sabbath rest for people, animals, and land • Stewardship, not exploitation of nature • Individual responsibility & freedom • Just weights and measures (Lev 19:35-36) • Special safety nets for the widow, the orphan and the • stranger • Avoid sloth & folly (Prov. 12:27; 28:19) • Practice thrift (Prov. 21:20) • Future orientation (Prov. 13:22) • Invest and take risks (Prov. 31)

12. The KINGDOM Paradigm • Central Theme: Principles for our “In Between” Time • How God wants us to BE and to LIVE in this world that is still fallen but that has begun to be restored because the Kingdom has broken into it. • Continued assumptions (from the Wise Law) • But a new orientation, because of the Kingdom’s “now-ness”

13. The Kingdom Paradigm • SomeContinued assumptions • (from the Wise Law) • Necessity of hard work • Assumption of private property • Mercy and justice for the vulnerable • The folly of hoarding • The need for risk assessment

14. The Kingdom Paradigm • But A New Charge, in light of the Kingdom’s Presence: • How to give people a foretaste of the consummation? • How do we promote God’s ideal today?

15. Challenges of the Urban Ministry Setting • Economic distressed communities – few job opportunities, few home-owners • 2. Lack of hope for the future – crime, poor schools, domestic violence, drugs, unemployment all influence youth • 3. Street culture that vigorously promotes present-day orientation; “props” • 4. Socially isolated communities – lack of networks through which to hear about good opportunities; “spatial mismatch” of jobs and workers and poor public transport • 5. Less-than-ideal consumer habits – e.g., rent-to-own; little trust in/use of financial institutions (banks); high mark-up convenience shopping • 6. Economic injustices – redlining, lack of business entry, discrimination in hiring

16. Applications: What Can Ministries Do? Sow hope! (the Anathoth principle)

17. Applications: What Can Ministries Do? • Teach financial life skills

18. FAST FACTS: Why Financial Literacy is SO Crucial • Only 10.2% of high school seniors score a “C” or better on the Basic • Financial Survival Skills Test. • 79% of students ages 16 through 22 have never taken a class in personal • finance. • 42% of teenagers between ages 18-19 have credit cards. • 64% of teenagers don’t know what an “interest rate” is. • Two-thirds of teens admit that they could use more lessons on money • management. • 70% of college students hold credit cards. One-fifth carry debts on these • cards of more than $10,000. • Average American household owns 14.7 bank, store, & credit cards & carries • an unpaid balance of $5900 on them! • In the 1998 "USA Weekend" survey, 42% of teenagers who responded • expect to earn $75,000 or more per year by age 30. (According to • government statistics, the average annual salary for a 30-year-old is • about $27,000.)

19. Applications: What Can Ministries Do? • Practice integration • into the economy • (as it is)

20. Applications: What Can Ministries Do? Economic Justice Advocacy (to reform it as it should be)

21. Applications: What Can Ministries Do? • Promote entrepreneurship