Financial Literacy Helping your students to handle their finances.

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Presentation transcript:

Financial Literacy Helping your students to handle their finances

Successful Financial Literacy Education Pizza does not a program make It doesn’t happen overnight It can happen on your campus

Financial Literacy Definitions Knowing enough about managing money to make wise decisions and to avoid fraud. Ability to make informed decisions regarding the use and management of money.

Why Financial Literacy 10 million people (annually) are victims of identity theft Nine out of ten Americans claim credit card debt has never been a source of worry…. 47% refuse to tell a friend how much they owe. The average college student carries a balance on their credit card

Why Financial Literacy Our nation is suffering through a small economic crisis “Involuntary simplicity” is part of being a student

Getting Started Target existing resources –After school programs –Consumer math –Academic probation targeted students –Every community has unique resources Programs that educate families

Getting Started Assess where you are today What’s already on campus Who is talking about financial literacy? Finding allies

Who Teaches Financial Literacy? Parents Schools Colleges and universities Peer to peer Other agencies –Banks, Credit unions, Community outreach, federal and state agencies

Financial Literacy Standards Developed by Jump$tart –National coalition promoting financial literacy –National clearinghouse of financial literacy materials –

Baby Steps Place educational materials where students can grab them Consider partnering to offer orientation session Build money management talk into exit/entrance counseling

Baby Steps Partner with other offices Educate your staff with talking points Applaud your successes Different ideas work for different campuses

Bigger Steps Name your program Mission statement Definition of success Evaluate and track what you do

Bigger Steps Find paths to captive audiences Build buy in with other offices Follow through

Resources

Thank you Jeff Southard Financial Awareness Trainer ECMC