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4-H Financial Champions

4-H Financial Champions. September 2011. Marsha A. Goetting Ph.D., CFP ® , CFCS. Professor & Extension Family Economics Specialist Department of Agricultural Economics & Economics. Why a 4-H Project in financial management is needed!!!!!. 127,848. 12% of population--MT

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4-H Financial Champions

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  1. 4-H Financial Champions September 2011

  2. Marsha A. GoettingPh.D., CFP®, CFCS Professor & Extension Family Economics Specialist Department of Agricultural Economics & Economics

  3. Why a 4-H Project in financial management is needed!!!!!

  4. 127,848 12% of population--MT (ages 10 - 19) Census 2010

  5. Teens Have Resources-2011 • Spend $18.50/week • $962 per year

  6. Charles Schwab: 2011 Teens & Money Survey • 86% of teens say they would rather learn about money management in class

  7. Test Scores-2008 Years Score 2008 48.3% 2006 52.4% 1997 57.3%

  8. Topics Teens would like their Parents to talk about 44%: How to invest money 42%: How to establish good credit 34%: Their career aspirations 33% How to budget money 8

  9. 4-H Financial Champions • Curriculum • 12 - 15 year olds

  10. 2 Youth Booklets • Money Fun-damentals • Book 1 • Money Moves • Book 2

  11. Helper’s Guide • Personal Finance Helper’s Guide • 44 pages

  12. Ordering Information • 4-H Mall • www.4-hmall.org • 3 Booklets • Cost $12.00 plus shipping • Shipping =$3.95 one set

  13. Experiential Learning Model • Try activity before being told or shown how

  14. Money Fun-damentals • Book 1 • 28 pages • 6 Activities

  15. Money Fun-damentals • Book 1: A Youth Guide for Learning about Money • Name______________

  16. Money Fun-damentals • Life Skills • Decision Making • Managing Yourself

  17. Activity #1: p. 2 • YourMoney Personality

  18. The Bottom Line: • Book 1: p. 2 • You’ll better understand what motivates your money decisions

  19. Money Personality Profile: p. 3 • General • Shopping • Eating Out • Lifestyle • Saving • Gifts

  20. Financial Families p. 4 • Frank & Frances Frugal • Patricia & Paul Pleasure • Sergio & Sasha Success • Nicole & Ned Not Important • Pedro & Pamela Powerful • Sharise & Steven Self-Worth

  21. Abe Lincoln: Talk it over p. 5 • Helper, parent or friend

  22. Share Questions: p. 5 • Talking Money with the Champions

  23. Process Questions: p. 5 • Champions Maneuvering Money

  24. Generalize Questions: p. 5 • Making Cents with the Champions

  25. Apply Questions: p. 5 • Financial Champions: Heroes for Life

  26. Gray box Champions’ Challenge p. 5 Provides youth more ways to deepen their understanding of the activity

  27. Champions’ Challenge p. 5 • Have family member & best friend take the quiz

  28. Pocket Change • Phrases & quotes about personal finance p. 5 Pocket Change

  29. Book 1: p. 5Pocket Change • “The highest use of capital is not to make more money, but to make money do more for the betterment of life.” • Henry Ford

  30. Activity #2: p. 6 • I Need It, Want It • Learn how needs & wants affect financial decisions

  31. Activity #3: p. 10 • Money Motivators • Learn why you make financial decisions & how to deal with them

  32. Activity #4: p. 15 • Money Talks • Learn more about money & communication

  33. Activity #5: p. 19 • Get Smart • Learn how to plan for financial success by setting goals

  34. Activity #6: p. 22 • Show Me the Money • Learn how a money plan affects your financial success

  35. Achievement Program: p. 26 • Complete all 6 activities • 2 Champions’ Challenge • 2 Leadership Experiences • Helper’s Initials

  36. Leadership Experiences p.27 • Presentations/Demo • Exhibits • Speech • Community Service • Field Trip • Invite Speaker

  37. Achievement Program Guidelines • When filled out, Copy p. 26 & 27 • Place in 4-H Record Book

  38. Money Fun-damentalsAchievement Program Certificate

  39. Glossary Definitions • Book 1 • p. 28 • 23 Definitions

  40. Glossary Activity • Word--write a definition • Definition--write the word

  41. Money Fun-damentals • Book 1 • Questions

  42. Money Moves • Book 2 • 40 pages • 8 Activities

  43. Money Moves • Book 2 • A Youth Guide for Saving, Spending & Other Money Skills • Name______________

  44. Money Moves • Skills • How to acquire & evaluate information

  45. Activity #1: p. 2 • Taking Care of Your Money • Learn ways of handling money

  46. Activity #2: p. 6 • Turning Cents into Dollars • Learn how interest is calculated on saving & savings options

  47. Credit Cards

  48. Credit Card • Average balance • $1,825bank credit card • 18% APR

  49. Credit Card • Pay $28 minimum payment • How long to pay off??????

  50. $28 monthly payment • 21 years • 16 years • 11 years • 5 years

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