Financial Literacy Family Feud Style Presented by: Ruth Sharp, Caltech Bursar & Rosemary Martinez-Kepford, ECMC

What is Financial Literacy (FL)? The possession of knowledge and understanding of financial matters. www.investopedia.com/terms/f/financial-literacy.asp

Educational FL Topics Loans Budgeting Other financial responsibilities

Loans: Knowledge students should have before they enter repayment Know the grace period dates Know the loan interest rate Knowledge of the loan servicer contact information Knowledge of deferment options

Budgeting: Concepts students should understand to be successful at budgeting Balance of earnings vs. expenses Understand how to manage the bottom line: surplus or deficit Savings and investing, ratios and techniques Understand options or tools for managing budget

Other FL Concepts to Introduce How to read the student account statement Understanding the process of bill payment and the consequences of late payment Debt management What to do to guard against identity theft

Different Approaches for Delivering FL Education Interactive webinars Articles or blog Video’s Games Academic programs Workshop Peer to peer program Online platform

Introducing FL via Games Why games? The elements of group competition and prize rewards make it fun for participants Students become engaged in the learning process Team work eliminates individual peer pressure

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