1 NEFE High School Financial Planning Program® Patrice Dollar,CFP Family Financial Management Specialist-University of Georgia

2 Why Financial Planning?

3 Teens Have A Lot of Money and They Spend It! $155 billion in 2000 $172 billion in 2001 $170 billion in 2002

4 Test Scores YearsScore % % %

5 Signs of Increasing Financial Vulnerability  More consumer credit delinquencies  Sky-rocketing personal bankruptcies  Inadequate retirement savings  Decreasing personal savings rate  Lost workplace productivity due to financial problems

6 Developed by by the National Endowment for Financial Education® The NEFE High School Financial Planning Program ®

7 Partners Cooperative Extension System

8 What is the HSFPP? Fully developed personal finance curriculum Materials include instructor's manual, student guide for each student Easily integrated into math, social studies, economics, or family and consumer education classes

9 Purposes of HSFPP Teach the financial planning process what it is what it can do for students Help students apply the process stimulating exercises realistic assignments Encourage students to take control of their finances—beginning now!

10 HSFPP Curriculum is...  comprehensive  flexible  easy to implement  educational  all materials free!

11 Easy Implementation Can be completed in as few as 10 class periods Suitable for block or traditional class schedule

12 Results of National Evaluation After completing HSFPP  54% saved money  38% achieved financial goals  35% tracked expenses  31% used spending plan  27% compared prices  IT WORKS! Source: NEFE High School Financial Planning Program, Boyce and Danes, 1998

13 New Instructor’s Manual Unit DescriptionUnit Description Learning ObjectivesLearning Objectives Concept LessonsConcept Lessons (1-3 per unit) Exams & AnswerExams & AnswerKey

14 National Standards Learning ObjectivesLearning Objectives Cross referenced to National StandardsCross referenced to National Standards –Family and Consumer Economics –Mathematics –Social Studies-Economics National Standards/Benchmarks Jumpstart CoalitionPersonal Financial LiteracyNational Standards/Benchmarks set by Jumpstart Coalition for Personal Financial Literacy

15 Lesson Plans Step-by-Step Plan outlines and visuals Learning by Doing 4-phase process Optional Unit Projects Service Learning Opportunities

16 EnergizerEnergizer InquireInquire GatherGather ProcessProcess ApplyApply Learning By Doing

17 NEFE High School Financial Planning Program ® 6 Units

18 NEFE High School Financial Planning Program ® Unit 1 Financial Planning: Your Roadmap Setting Financial Goals Effective Decision Making Financial Planning Process

19 NEFE High School Financial Planning Program ® Unit 2 Career: Labor You Love Successful Careers Education and Training Pays

20 NEFE High School Financial Planning Program ® Unit 3 Budget: Don’t Go Broke Budgeting Process Consumer Spending

21 NEFE High School Financial Planning Program ® Unit 4 Savings and Investments Time Value of Money Investing Savings

22 NEFE High School Financial Planning Program ® Unit 5 Credit: Buy Now, Pay Later How Credit Works Managing Debt

23 Instructions Unit 5 – Lesson 1 –Inquire “Give Me Credit” Choose a fun name for your group Pick one person to play the role of the “teacher” The rest of the group will be “students” Turn to page 299 in the Instructors Manual Follow instructions in the Instructors Manual You group has 10 minutes to present to the entire group.

24 Instructions Unit 5 – Lesson 1 –Gather “Credit Masquerade” Choose a fun name for your group Pick one person to play the role of the “teacher” The rest of the group will be “students” Turn to page 301 in the Instructors Manual Follow instructions in the Instructors Manual You group has 10 minutes to present to the entire group.

25 Instructions Unit 5 – Lesson 1 –Process “Let’s Break Down a Deal” Choose a fun name for your group Pick one person to play the role of the “teacher” The rest of the group will be “students” Turn to page 303 in the Instructors Manual Follow instructions in the Instructors Manual You group has 10 minutes to present to the entire group.

26 Instructions Unit 5 – Lesson 1 –Apply “Loan Ranger” Choose a fun name for your group Pick one person to play the role of the “teacher” The rest of the group will be “students” Turn to page 309 in the Instructors Manual Follow instructions in the Instructors Manual You group has 10 minutes to present to the entire group.

27 Reflection What did you learn that surprised you about how credit works? How do you feel about using credit? What advice would you give to someone who is about to use credit for the first time?

28 Reflection How does it feel to be “in the dark” when you are trying to get a particular piece of information? What strategies did you learn about asking questions? How can an activity like this help you learn to investigate credit offers you will receive after you graduate?

29 Reflection Which variable carried the most weight in your group’s decision-making process? Why? How can you use a credit analysis process like this in your own life? How would feel about committing yourself to two, three or four years of monthly payments? Which is more important to you: a smaller payment or paying less interest?

30 NEFE High School Financial Planning Program ® Unit 6 Insurance: Your Protection Understanding Risk Types of Insurance

31 Personal Finance Web Sites

32 Personal Finance Web Sites

33 The NEFE High School Financial Planning Program ® Helping Students Make Their Dreams a Reality!!

34 Working together to increase the financial literacy of America’s youth!!