ASSETS MATTER Your Financial Road Trip High School Financial Education Training March 14-15, 2011 Washoe County School District

ASSETS MATTER Assets Matter Assets enable families to:  Weather economic crisis  Make choices  Invest in their futures  Plan for retirement  Transfer wealth to future generations Bottom Line: Income helps people get by, assets help people to get ahead.

ASSETS MATTER Assets Build Better Lives Families without savings and assets are more likely to experience: Divorce Increased health problems for themselves and their children Less stable housing Greater job turnover Higher drop-out rates for their children Less connection to their community

ASSETS MATTER What is Asset Poverty? A household is asset poor if it has insufficient net worth to support itself at the federal poverty level for three months in the absence of income. Federal poverty line for a family of four is $22,350 year (or, $430 per week) In Nevada, 34% of those earning $44,801-$68,800 are asset poor.

ASSETS MATTER Asset Poverty by Race/Ethnicity Source:

ASSETS MATTER Asset Poverty by Education Asset Poverty 33% Source:

ASSETS MATTER Financial Education Matters Nearly one-third of teens owe money to a person or company, with an average debt of $230. Average debt of young adults ages is $16,120. People in the 18 to 24 age bracket spend nearly 30% of their monthly income just on debt repayment - double the percentage spent in 1992 (10% of net income is a recommended amount for debt obligation). The number of 18 to 24-year-olds declaring bankruptcy has increased 96% in 10 years.

ASSETS MATTER Financial Education Matters While 71% agree that the best way for teens to learn about money is from guided, hands-on experience or their own example, only 20% involve their teen in the family’s budgeting and spending decisions. Americans shelled out more than $24 billion in credit card fees in 2004, an 18% increase over the previous year. In 2005, savings rates dipped to minus 0.5 percent, something that hasn't happened since the Great Depression in 1932 and A negative savings rate means that Americans spent all their disposable income and dipped into past savings or increased their borrowing. Collected from Jumpstart Coalition as of April 2010

ASSETS MATTER Teacher Survey Source:

ASSETS MATTER Questions for Me?

ASSETS MATTER Question for You Do you think financial education is a stand-alone subject (like a physics course), or is it like reading – a skill to be learned and applied throughout life?

ASSETS MATTER 1.Review NEFE HSFPP material 2.Review Recommended Curriculum Flow 3.Walk through a lesson 4.Review additional supplemental materials, including tests 5.Brainstorm – ideas, tips, deficits, outstanding issues to be covered. Roadmap of Today’s Trip

ASSETS MATTER Recommended Resources Building Wealth – Federal Reserve Bank of Dallas Practical Money Skills for Life Money Guide for Teens Hands On Banking – Wells Fargo