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NEFE High School Financial NEFE High School Financial Planning ProgramPlanning Program®®

Patrice Dollar,CFPPatrice Dollar,CFP

Family Financial Management Family Financial Management Specialist-University of GeorgiaSpecialist-University of Georgia

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Why Financial Planning?Why Financial Planning?

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Teens Have A Lot of Teens Have A Lot of MoneyMoney

andand

They Spend It!They Spend It!

$155 billion in 2000$155 billion in 2000

$172 billion in 2001$172 billion in 2001

$170 billion in 2002 $170 billion in 2002

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Test ScoresYears Score

2002 50.2%

2000 51.9%

1997 57.3%

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Signs of Increasing Signs of Increasing Financial VulnerabilityFinancial Vulnerability

More consumer credit delinquencies

Sky-rocketing personal bankruptcies

Inadequate retirement savings

Decreasing personal savings rate

Lost workplace productivity due to

financial problems

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Developed by

by the National Endowment for Financial Education®

The NEFE High SchoolThe NEFE High SchoolFinancial Planning ProgramFinancial Planning Program®®

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PartnersPartners

CooperativeExtensionSystem

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What is the HSFPP?What is the HSFPP?• Fully developed personal finance

curriculum

• Materials include instructor's manual, student guide for each student

• Easily integrated into math, social studies, economics, or family and consumer education classes

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Purposes of HSFPPPurposes of HSFPP

• Teach the financial planning processwhat it is what it can do for students

• Help students apply the process stimulating exercises realistic assignments • Encourage students to take controlof their finances—beginning now!

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HSFPP Curriculum is...HSFPP Curriculum is...

comprehensive flexible easy to implement educational all materials free!

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Easy ImplementationEasy Implementation

Can be completed in as few as 10 class periods

Suitable for block or traditional class schedule

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Results of National EvaluationResults of National Evaluation

After completing HSFPP 54% saved money 38% achieved financial goals 35% tracked expenses 31% used spending plan 27% compared prices IT WORKS!

Source: NEFE High School Financial Planning Program, Boyce and Danes, 1998

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New Instructor’s ManualNew Instructor’s Manual

• Unit DescriptionUnit Description

• Learning Objectives Learning Objectives

• Concept Lessons Concept Lessons

(1-3 per unit)(1-3 per unit)

• Exams & Answer Exams & Answer

KeyKey

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National StandardsNational Standards• Learning ObjectivesLearning Objectives

• Cross referenced to National StandardsCross referenced to National Standards– Family and Consumer Economics

– Mathematics

– Social Studies-Economics

• National Standards/BenchmarksNational Standards/Benchmarks set by Jumpstart CoalitionJumpstart Coalition for Personal Financial Personal Financial LiteracyLiteracy

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Lesson PlansLesson Plans

• Step-by-Step Planoutlines and visuals

• Learning by Doing4-phase process

• Optional Unit ProjectsService Learning Opportunities

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• EnergizerEnergizer

• InquireInquire

• GatherGather

• ProcessProcess

• ApplyApply

Learning By DoingLearning By Doing

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NEFE High School NEFE High School Financial Planning ProgramFinancial Planning Program®®

66 Units Units

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NEFE High School NEFE High School Financial Planning ProgramFinancial Planning Program®®

Unit 1Unit 1Financial Planning:Financial Planning:

Your RoadmapYour Roadmap

• Setting Financial Goals

• Effective Decision Making

• Financial Planning Process

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NEFE High School NEFE High School Financial Planning ProgramFinancial Planning Program®®

Unit 2Unit 2Career: Labor You LoveCareer: Labor You Love

• Successful Careers

• Education and Training Pays

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NEFE High School NEFE High School Financial Planning ProgramFinancial Planning Program®®

Unit 3Unit 3Budget: Don’t Go BrokeBudget: Don’t Go Broke

• Budgeting Process

• Consumer Spending

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NEFE High School NEFE High School Financial Planning ProgramFinancial Planning Program®®

Unit 4Unit 4Savings and InvestmentsSavings and Investments

• Time Value of Money

• Investing

• Savings

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NEFE High School NEFE High School Financial Planning ProgramFinancial Planning Program®®

Unit 5Unit 5Credit: Buy Now, Pay LaterCredit: Buy Now, Pay Later

• How Credit Works

• Managing Debt

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Instructions Unit 5 – Lesson 1 –Inquire

“Give Me Credit”

• Choose a fun name for your group• Pick one person to play the role of the

“teacher”• The rest of the group will be “students”• Turn to page 299 in the Instructors Manual• Follow instructions in the Instructors Manual• You group has 10 minutes to present to the

entire group.

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Instructions Unit 5 – Lesson 1 –Gather

“Credit Masquerade”

• Choose a fun name for your group• Pick one person to play the role of the

“teacher”• The rest of the group will be “students”• Turn to page 301 in the Instructors Manual• Follow instructions in the Instructors Manual• You group has 10 minutes to present to the

entire group.

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Instructions Unit 5 – Lesson 1 –Process“Let’s Break Down a Deal”

• Choose a fun name for your group• Pick one person to play the role of the

“teacher”• The rest of the group will be “students”• Turn to page 303 in the Instructors Manual• Follow instructions in the Instructors Manual• You group has 10 minutes to present to the

entire group.

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Instructions Unit 5 – Lesson 1 –Apply

“Loan Ranger”• Choose a fun name for your group• Pick one person to play the role of the

“teacher”• The rest of the group will be “students”• Turn to page 309 in the Instructors Manual• Follow instructions in the Instructors Manual• You group has 10 minutes to present to the

entire group.

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Reflection

• What did you learn that surprised you about how credit works?

• How do you feel about using credit?

• What advice would you give to someone who is about to use credit for the first time?

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Reflection

• How does it feel to be “in the dark” when you are trying to get a particular piece of information?

• What strategies did you learn about asking questions?

• How can an activity like this help you learn to investigate credit offers you will receive after you graduate?

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Reflection

• Which variable carried the most weight in your group’s decision-making process? Why?

• How can you use a credit analysis process like this in your own life?

• How would feel about committing yourself to two, three or four years of monthly payments?

• Which is more important to you: a smaller payment or paying less interest?

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NEFE High School NEFE High School Financial Planning ProgramFinancial Planning Program®®

Unit 6Unit 6Insurance: Your Insurance: Your

ProtectionProtection

• Understanding Risk

• Types of Insurance

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Personal Finance Web Sites

• http://www.nefe.org/webtraining/index.html• www.nefe.org• www.ntrbonline.org• www.jumpstart.org• www.cuna.org• www.asec.org• www.ecs.org• www.kiplingers.com• www.younginvestor.com• www.ultra.zacks.com/invest101/• www.ihatefinancialplanning.com

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Personal Finance Web Sites

• www.ftc.gov• www.superstarinvestor.com• www.ed.gov• www.collegeboard.org• www.nelliemae.org• www.bankrate.com• www.finaid.org• www.Salliemae.com

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The NEFE High School The NEFE High School Financial Planning ProgramFinancial Planning Program®®

Helping Students

Make Their

Dreams

a Reality!!

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Working together

to increase

the financial literacy of

America’s youth!!