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BUILDING STUDENT’S MONEY SKILLS

BUILDING STUDENT’S MONEY SKILLS. Interactive Financial Literacy Activities for Pre-College Students. Presenters. Rebecca Contreras M.A. Coordinator, Talent Search Advising/GEAR UP to College Avenue Advising Phone: (619) 594-0859 E-mail: rcontreras@projects.sdsu.edu Melani Wright, M.A.

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BUILDING STUDENT’S MONEY SKILLS

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  1. BUILDING STUDENT’S MONEY SKILLS Interactive Financial Literacy Activities for Pre-College Students

  2. Presenters • Rebecca Contreras M.A. • Coordinator, Talent Search Advising/GEAR UP to College Avenue Advising • Phone: (619) 594-0859 • E-mail: rcontreras@projects.sdsu.edu • Melani Wright, M.A. • Academic Advisor, Talent Search • Coordinator of Professional Development Services/Pre-College Institute • Project Coordinator/BioBridge/Goodman Research Group, UCSD, and SDSU • Phone: (619) 594-2954 • E-mail: mwright@projects.sdsu.edu • Katherine Arias, M.A. • Academic Advisor, Talent Search/ HS Research Coordinator, HCOP • Phone: (619) 594-6451 • E-mail: karias@projects.sdsu.edu

  3. Presenters • Christyna Prounh • Talent Search Advising/GEAR UP to College Avenue Advising • Phone: (619) 594-3474 • E-mail: cprounh@projects.sdsu.edu • Karlo Roshnaye • Counselor Intern, Talent Search • Phone: (619) 594-3474 • E-mail: kroshnaye@projects.sdsu.edu

  4. Workshop Overview • Why “Financial Literacy”? • Interactive Activities/ Group Work • Resources • Questions

  5. Why “Financial Literacy”? • What is financial literacy? • "...the ability to read, analyze, manage, and communicate about the personal financial conditions that affect material well being. It includes the ability to discern financial choices, discuss money and financial issues without (or despite) discomfort, plan for the future, and respond competently to life events that affect everyday financial decisions, including events in the general economy." (National Endowment for Financial Education, 2002, p. 4) • The 2008 passage of the Higher Education Opportunity Act made amendments to the TRIO programs' required services, including the addition of financial literacy education.

  6. Why “Financial Literacy”? High school graduates in the US are not prepared to make financial decisions necessary as adults. Lack of preparation and education leaves our society subject to a high percentage of people who lack financial success. The earlier students are taught skills to manage personal finances and debt, the less likely they are to encounter problems later in life. Insufficient debt management skills lead to late payment or loan default, poor credit, tax seizure, wage garnishment, legal action, and even bankruptcy.

  7. Activity 1- What’s In A Budget? • Budgeting • Objectives: • Students will learn: • What a budget is • How to make a budget • The difference between wants and needs • Group work- Handout

  8. Activity 2- Budget Game • Concepts Covered: • Lifestyle choices • Personal Finance • Labor Markets • Learning Objectives: • Identify the relationship between education and income level • Develop a budget • Explore changes in labor market trends

  9. Activity 2- Budget Game • In today’s activity you will participate in a budget game. • Handout cards

  10. Team Budget

  11. Activity 3- Credit Card Quiz • Objectives: • To increase knowledge of how credit cards and credit really work. • To educate students of the responsibility of having a credit card. • To expose students to credit terminology.

  12. Activity 4- Hollywood Squares: Financial Literacy Activity • The purpose of this activity is to quiz students in a fun interactive game after learning about credit card terminology and responsibility.

  13. Resources • www.whatsmyscore.com • Money 101 • PowerPoint presentation with Presenter’s Guide Topics: Budgeting your money; Online Banking; Checking Account; Savings Account; Understanding Credit; Debit Cards; • Practical Money Skills • www.practicalmoneyskills.com • 14 Lesson plans, including: Making Decisions; Making Money; The Art of Budgeting; Living on your Own; Buying a Home; Banking Services; Credit; Credit Cards; • www.edfund.org/BuildingFutures • PowerPoint presentations with “Teacher Notes” • The ABC’s of Credit Card Finance (PDF) • Essential Facts for Students by Carol A. Carolan, Ph.D. • WSECU Financial Literacy Program • Student activities along with “Teacher Notes”

  14. Resources Continued… • www.themint.org • Activities • www.edutopia.org/financial-literacy-resources • Lessons for elementary, middle school and high school students. Can also create your own. • www.frbsf.org/publications/education/newsletter/summer06/activity.html • Activity #2 • www.hotchalk.com/mydesk/index.php/financial-literacy-for-students-list • Activities for elementary, middle school and high school students

  15. Moneyinstructor.com A website with some free resources about budgets and interactive information about financial literacy.

  16. QUESTIONS?

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