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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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marsha a goetting ph d cfp cfcs

Marsha A. GoettingPh.D., CFP®, CFCS

Professor & Extension Family Economics Specialist

Department of Agricultural Economics & Economics

12 of population mt ages 10 19 census 2010

127,848

12% of population--MT

(ages 10 - 19) Census 2010

teens have resources 2011
Teens Have Resources-2011
  • Spend $18.50/week
    • $962 per year
charles schwab 2011 teens money survey
Charles Schwab: 2011 Teens & Money Survey
  • 86% of teens say they would rather learn about money management in class
test scores 2008
Test Scores-2008

Years Score

2008 48.3%

2006 52.4%

1997 57.3%

topics teens would like their parents to talk about
Topics Teens would like their Parents to talk about

44%: How to invest money

42%: How to establish good credit

34%: Their career aspirations

33% How to budget money

8

4 h financial champions9
4-H Financial Champions
  • Curriculum
    • 12 - 15 year olds
2 youth booklets
2 Youth Booklets
  • Money Fun-damentals
    • Book 1
  • Money Moves
    • Book 2
helper s guide
Helper’s Guide
  • Personal Finance Helper’s Guide
    • 44 pages
ordering information
Ordering Information
  • 4-H Mall
    • www.4-hmall.org
    • 3 Booklets
    • Cost $12.00 plus shipping
    • Shipping =$3.95 one set
experiential learning model
Experiential Learning Model
  • Try activity before being told or shown how
money fun damentals
Money Fun-damentals
  • Book 1
    • 28 pages
    • 6 Activities
money fun damentals15
Money Fun-damentals
  • Book 1: A Youth Guide for Learning about Money
    • Name______________
money fun damentals16
Money Fun-damentals
  • Life Skills
    • Decision Making
    • Managing Yourself
activity 1 p 2
Activity #1: p. 2
  • YourMoney Personality
the bottom line
The Bottom Line:
  • Book 1: p. 2
    • You’ll better understand what motivates your money decisions
money personality profile p 3
Money Personality Profile: p. 3
  • General
  • Shopping
  • Eating Out
  • Lifestyle
  • Saving
  • Gifts
financial families p 4
Financial Families p. 4
  • Frank & Frances Frugal
  • Patricia & Paul Pleasure
  • Sergio & Sasha Success
  • Nicole & Ned Not Important
  • Pedro & Pamela Powerful
  • Sharise & Steven Self-Worth
abe lincoln talk it over p 5
Abe Lincoln: Talk it over p. 5
  • Helper, parent or friend
share questions p 5
Share Questions: p. 5
  • Talking Money with the Champions
process questions p 5
Process Questions: p. 5
  • Champions Maneuvering Money
generalize questions p 5
Generalize Questions: p. 5
  • Making Cents with the Champions
apply questions p 5
Apply Questions: p. 5
  • Financial Champions: Heroes for Life
champions challenge p 5

Gray box

Champions’ Challenge p. 5

Provides youth more ways to deepen their understanding of the activity

champions challenge p 527
Champions’ Challenge p. 5
  • Have family member & best friend take the quiz
pocket change
Pocket Change
  • Phrases & quotes about personal finance p. 5

Pocket

Change

book 1 p 5 pocket change
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
activity 2 p 6
Activity #2: p. 6
  • I Need It, Want It
    • Learn how needs & wants affect financial decisions
activity 3 p 10
Activity #3: p. 10
  • Money Motivators
    • Learn why you make financial decisions & how to deal with them
activity 4 p 15
Activity #4: p. 15
  • Money Talks
    • Learn more about money & communication
activity 5 p 19
Activity #5: p. 19
  • Get Smart
    • Learn how to plan for financial success by setting goals
activity 6 p 22
Activity #6: p. 22
  • Show Me the Money
    • Learn how a money plan affects your financial success
achievement program p 26
Achievement Program: p. 26
  • Complete all 6 activities
  • 2 Champions’ Challenge
  • 2 Leadership Experiences
  • Helper’s Initials
leadership experiences p 27
Leadership Experiences p.27
  • Presentations/Demo
  • Exhibits
  • Speech
  • Community Service
  • Field Trip
  • Invite Speaker
achievement program guidelines
Achievement Program Guidelines
  • When filled out, Copy p. 26 & 27
  • Place in 4-H Record Book
glossary definitions
Glossary Definitions
  • Book 1
    • p. 28
    • 23 Definitions
glossary activity
Glossary Activity
  • Word--write a definition
  • Definition--write the word
money fun damentals41
Money Fun-damentals
  • Book 1
    • Questions
money moves
Money Moves
  • Book 2
    • 40 pages
    • 8 Activities
money moves43
Money Moves
  • Book 2
    • A Youth Guide for Saving, Spending & Other Money Skills
    • Name______________
money moves44
Money Moves
  • Skills
    • How to acquire & evaluate information
activity 1 p 245
Activity #1: p. 2
  • Taking Care of Your Money
    • Learn ways of handling money
activity 2 p 646
Activity #2: p. 6
  • Turning Cents into Dollars
    • Learn how interest is calculated on saving & savings options
credit card
Credit Card
  • Average balance
    • $1,825bank credit card
  • 18% APR
credit card49
Credit Card
  • Pay $28 minimum payment
  • How long to pay off??????
28 monthly payment
$28 monthly payment
  • 21 years
  • 16 years
  • 11 years
  • 5 years
interest paid
Interest Paid
  • $5,325
  • $3,460
  • $2,377
  • $956
interest charges
Interest Charges

payment

interest

yrs

  • $28 = $5,325 21
  • $29 = $3,460 16
  • $32 = $2,377 11
  • $46 = $ 956 5
activity 4 p 1553
Activity #4: p. 15
  • Check it Out
    • Learn how to manage a checking account
activity 5 p 22
Activity #5: p. 22
  • Selecting Financial Services
    • Learn the basics of how to select financial services
activity 6 p 25
Activity #6: p. 25
  • It All Ads Up
    • Learn to evaluate advertising & how to use it to make better purchases
activity 7 p 28
Activity #7:p. 28
  • You Be the Judge
    • Learn how to make decisions & evaluate information in the marketplace
activity 8 p 31
Activity #8: p. 31
  • Shop ‘Til You Drop
    • Learn how to make good decisions when shopping
achievement program p 34
Achievement Program: p. 34
  • Complete 5 of 8 activities
  • 2 Champions’ Challenge
  • 2 Leadership Experiences
  • Helper’s Initials
leadership experiences p 35
Leadership Experiences: p. 35
  • Presentations/Demo
  • Exhibits
  • Speech
  • Community Service
  • Field Trip
  • Invite Speaker
glossary words
Glossary Words
  • Book 2
    • Pages 36-37
    • 45 definitions
money moves62
Money Moves
  • Book 2
    • Questions
helper s guide63
Helper’s Guide
  • Personal Finance Helper’s Guide
    • 44 pages
table of contents p 1
Table of Contents: p. 1
  • 8 Activities to enhance or expand concepts learned in youth guides
brief overview p 2
Brief Overview p. 2
  • Money Fun-damentals
    • Book 1
  • Money Moves
    • Book 2
experiential learning model66
Experiential Learning Model
  • P. 3
  • Learn by doing
ages stages of youth p 4
Ages & Stages of Youth: p. 4
  • Grades 7 - 9
    • Ages 12 - 15
young teens p 4
Young Teens: p. 4
  • 12 - 13 year olds
    • Rapid changes in growth
    • Small groups
    • Self definition
mid teens p 5
Mid-Teens: p. 5
  • 14 - 15 year olds
    • Absorbed in themselves & peer groups
    • Thoughts about future
    • Set goals based on personal needs & priorities
objectives p 6
Objectives p. 6
  • Youth will learn
  • Personal Finance Skill to Practice
  • Success Indicator
what you need p 8
What You Need: p. 8
  • Time involved
  • Suggested Group Size
  • Materials Needed
background information for each activity

Green

Box

Background Information for Each Activity
  • p. 8—Advertisement Action
  • p. 14—Before and after
  • p. 19—Shopping Cents Field Trip
activity 1 p 6
Activity #1: p. 6
  • At Your Service
    • Identify services in communities & learn how to evaluate them as consumers
activity 2 p 8
Activity #2: p. 8
  • Advertising Action
  • Create Advertisement
activity 3 p 12
Activity #3: p. 12
  • Take a Stand
    • Form opinions about debt, credit & loans
activity 3 p 13
Activity #3: p. 13
  • Line Continuum

Strongly

Disagree

Strongly

Agree

activity 4 p 14
Activity #4: p. 14
  • Before & After
    • Identify money mgt experiences & sharing them
activity 5 p 16
Activity #5: p. 16
  • Conducting a Quiz Bowl
activity 6 p 19
Activity #6: p. 19
  • Shopping Cents Field Trip
activity 7 p 24
Activity #7: p. 24
  • Go for the Goal
    • Identifying goals & sharing opinions
activity 8 p 26
Activity #8: p. 26
  • Money In, Money Out
    • Recognizing income sources & expenses
make it fun p 29
Make it Fun: p. 29
  • More Group Activities
ice breakers p 29
Ice Breakers: p. 29
  • Money Puzzle Partners
  • Price is Right
  • Financial Popping
more group activities p 29
More Group Activities: p. 29
  • Freeze Frame
  • Clip it, Glue it
  • Ad Thoughts
more p 30
More: p. 30
  • Role Play/ Charades
  • TV or Movie Diary
  • Glossary Games
more p 3086
More: p. 30
  • Career Shadows
    • Banker, auditor, credit counselor, financial planner
more p 31
More: p. 31
  • Can of Squirms
    • Financial Squirms
squirms
$$$ Squirms
  • Discuss your squirm with person sitting next to you
activity
Activity
  • Write a short financial squirm for ages 12 - 15.
  • Be sure to put your name on back.
winner
Winner?????
  • Financial Squirms
more p 3191
More: p. 31
  • Crazy Matches
  • Make Mine a Puzzle
activity ideas p 37
Activity Ideas: p 37
  • Presentations/Demo
    • Careers
    • Write a Check
    • Use a financial calculator
field trip p 37
Field Trip: p. 37
  • Bank
  • Insurance
  • Investment
community service ideas p 37
Community Service Ideas p. 37
  • Read Money Related Stories at Library
    • Money on Bookshelf
exhibit ideas p 37
Exhibit Ideas p. 37
  • Comparison Shopping
leadership opportunities
Leadership Opportunities
  • Organize local America Saves program
answers p 38 39
Answers p. 38 - 39
  • Money Moves
  • Book 2
    • Turning Cents into Dollars
    • State Capitol, Here I Come
    • Charging up
additional resources p 41
Additional Resources: p. 41
  • Print Resources for Educators
  • Sites for educators
  • Sites for Students
academic standards p 43
Academic Standards: p. 43
  • Family & Consumer Sciences
  • Economics
  • Personal Finance
financial champions web game
Financial Champions Web Game

http://downloads.cas.psu.edu/4H/FinancialChampions/default.htm

montana financial champions web site
Montana Financial Champions Web Site

www.montana.edu/extensionecon/financialchampions/index.html

4 h financial champions108
4-H Financial Champions

September 2011

108