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Financial Education Novice Training

Financial Education Novice Training. Pamela Walley Dottie Record Brenda Leighty June 28, 2019. The Millionaire Game. The Importance of Financial Education. Decision Making. Financial Fitness for Life Grades 6-8 Lesson 2: Making Decisions. Alternatives

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Financial Education Novice Training

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  1. Financial EducationNovice Training Pamela Walley Dottie Record Brenda Leighty June 28, 2019

  2. The Millionaire Game

  3. The Importance of Financial Education

  4. Decision Making

  5. Financial Fitness for LifeGrades 6-8Lesson 2: Making Decisions • Alternatives • Cost/benefit analysis • Criteria • Decision-making • Opportunity cost • Trade-offs

  6. 1. Define the Problem 2. List Your Alternatives 3. State Your Criteria 4. Evaluate Your Alternatives 5. Make a Decision Five Step Decision Making Process

  7. Lets have some fun! Which Graham Cracker is best?? A & B ONLY

  8. Financial Fitness for LifeGrades 9-12Lesson 3: Making Decisions • Opportunity Cost • Decision Making • Scarcity

  9. Earning an Income

  10. Financial Fitness for LifeGrades 9-12Lesson 6: Why Some Jobs Pay More than Others

  11. Working Lunch

  12. Saving

  13. Financial Fitness for LifeGrades 6-8Lesson 10: Why Save? • Investing • Long-term goals • Medium-term goals • Opportunity Cost • Saving • Scarcity • Short-term goals

  14. Let’s roll for a goal together!

  15. Financial Fitness for LifeGrades 9-12Lesson 20: What’s the Cost of Saving and Spending? • Interest • Opportunity cost • Risk and return • Saving

  16. Save Early and Often These factors affect the growth of savings: • Time The earlier or longer you save, the more total savings (wealth) you will have. • Investment Size The more you save each year from your income, the more total savings (wealth) you will have. • Rate of Return The higher the interest rate or rate of return, the more total savings (wealth) you will have.

  17. Let’s do this lesson together!

  18. Financial Fitness for LifeGrades 9-12Lesson 9: Financial Institutions and Services

  19. EXERCISE 9.2 Financial Services

  20. Interest

  21. Credit

  22. Financial Fitness for LifeGrades 6-8Lesson 15: Cash or Credit? • Annual Fee • Payment • Credit Limit • Interest Rate • Grace Period • Minimum Payment • Interest • Late Fee • Credit • Finance Charge

  23. Exercise 15.2 Cash or Credit Let’s do this together!

  24. Financial Fitness for LifeGrades 9-12Lesson 12: Making Credit Choices

  25. Establishing Credit

  26. Which Credit Card is Best?

  27. Credit Card Statements

  28. Questions? THANK YOU!!

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