Money Matters! By Dvora Inwood Tamecia Jones Anitra Waller Ed 208B Winter 2004

Why Money Matters! Only 56% of households are adequately prepared for retirement U.S. Department of Labor % of American credit card holders carry credit card debt Cambridge Consumer Credit Counseling 2004

Why Money Matters! Personal bankruptcy filings doubled from 1990 to 2000 American Bankruptcy Institute

Why Money Matters! Personal bankruptcy filings hit a record high in 2003 –over 2 million people! Administrative Office of the U.S. Courts

Why parents matter 94% of students turn to their PARENTS for financial education and guidance AND YET…

Why parents matter 55% of parents roll over credit card debt each month

Why parents matter 58% of parents are unfamiliar with mutual funds or stocks

Why parents matter 69% of parents cannot cite 2 examples of what they have done to teach their kids about financial matters American Savings Education Council, 2001

Why Money Matters matters We’re educating PARENTS who want to learn

The Boys and Girls Club of Palo Alto The Initial Site Using the Money Matters Curriculum

The Boys and Girls Club of the Peninsula An organization that provides safe, friendly fun environments for children after school in community clubhouses Its Mission is to inspire and enable all young people, especially those from disadvantaged circumstances, to achieve their full potential as productive, responsible, and caring citizens. *The Boys & Girls Club of the Peninsula is a tax-exempt 501(C)3 non-profit organization.

Meet Joe. Who are his parents? Little Joe Member Hispanic African-American Pacific Islander Caucasian Working Class Middle Class Graduates of: High School Trade School College Single parents Couples Guardians Relatives Consumers Boys and Girls Club Member Joe Borrowers Credit Risks/ Account Holders Owners

Why Joe’s parents matter… They provide his needs or wants Clothes Shelter Health Care FoodTransportation Money Books/Toys Tuition Boys and Girls Club Member Joe And model money management

The Money Matters Curriculum A Five Lesson Curriculum Plan

Enduring Goal Students will be able to navigate economic situations with present and future consequences.

Desired Outcomes Declarative Goals Procedural Goals Attitudes, Values, and Habits of Mind Goals

Declarative Goals: Students will: Understand financial terminology Identify print, online and organizational resources that inform and guide financial decisions Be familiar with the financial “rules of thumb”

Procedural Goals Students will develop an ability to: Make decisions based on given information Identify a desired financial identity and create a plan toward building that identity Create monthly and annual budgets based on assessments of needs, wants, and resources

Attitudes, Values, and Habits of Mind Goals Students will be proactive money managers and apply these ideas to their daily living for attainment of their short-term and long-term goals Students will demonstrate responsible financial behavior for their children

Lessons Overview 1.Managing Income & Expenses 2.Managing Consumer Credit and Planning for Major Purchases 3.Savings & Investment 4.Insurance 5.Financial Record-Keeping

Individual Lesson Format  Icebreaker  Self-Assessment  Activities Individual Paired Group  Individual Reflection We use scenarios, real-life contexts, and document examples for teaching and modeling!

Curriculum Contents Lessons Appendix –Student Worksheets –Instructor’s Resource Guide –Glossary of Terms

Questions?