Good morning and Welcome My name is Bertell Davis and I am with Capital One. I work on the Community Affairs team and part of my responsibility is to promote financial literacy programs for Capital One. We care about the consumers in our markets and have created an exciting new program that, we think, will change the way parents and teens talk about and manage money. This program, called Bank It, was developed in partnership between Capital One and Search Institute. My goal today is to introduce you to the program and what it can do for you, your students, and their parents or other caring adults. Let’s jump right in! Timing 2 Minutes- Into 15 minutes- Ice Breaker “F” Activity 20 Min- What is Bank It slides (with questions and facilitated discussion) 15 Activity from Talk Well 10 Website Review _______________ 62 minutes scheduled of 75 minutes allowed. Additional time for Q&A and fluff overage
For those of you who like to have a map of where we are headed during our time together, here is an overview of this session. I hope that you see something in this outline that meets your expectations of this session.
What are some the phrases or sayings you remember when you and your parents talked about money? Parent Favorites: Money doesn’t Grow on Tree’s Do I look like an ATM? Do you know how hard I have to work for this money? Or from the teens Just use your card to pay for it Can I borrow some money, I’ll pay it back I swear? Can I have…
Introductory Activity: I need your help. I have a group of students who have an F average in a particular field of study. As experienced teachers, what would you do with a group of students with an F average? At your tables, take 5 minutes to come up with your top 3 steps you would take to help these failing students. Objective Use their improvement plans to demonstrate why Bank It can be a solution to improving the level of financial literacy for teens. Potential Steps they could list -Involve the parents (stress the Parent/teen conversation element of Bank It) -Teach the subject a different way (interactive Bank It modules) -Identify the best ways to teach these students this subject (stress 40 developmental assets from Search and their history working with teens and parents) -Break the content down in smaller pieces for the students (36 modules on 12 areasw of focus allows for a variety of teaching methods and styles) Incorporate more home study or homework practice ( Bank It website for Teens and Parents Note: If other items come from their groups, acknowledge them but bring focus back to the items listed above. Time Table: 15 Min total 5 minutes: Table discussion 6 min: 2 minutes per group reporting out ( 3 groups of 10) 4 minute to make the connection to Bank It
Talking Points: TEENS Teenagers Are Active Consumers $175 billion a year spending 21% have their own credit card or access to their parents' credit card 6% hold their own ATM cards. High school students receive an F for financial literacy: This is the lowest grade they’ve received since the Jump$tart Coalition for Personal Financial Education started measuring financial literacy levels 11 years ago. Many teens are “in the dark” about financial topics. Many do not know what they don’t know. Many (especially younger teens) say they can’t think of topics they want to learn. PARENTS Among parents with children ages 5 or older, only 26% feel well prepared to teach their kids about basic personal finances. Fewer than half feel they are a good role model for their children regarding saving and spending. More than 70% of parents say they have spoken with their teens about credit and using credit cards wisely, while less than 44% of teenagers say their parents have talked to them about credit cards. 88% of parents feel it's important to monitor their child's spending and guide their money use. NOTE: Parents can also mean any Caring Adult : Anyone who takes an active role in a kids life Sphere of influence over teens
Talking Points: Review points on the slide describing Bank It Bank It is a response to a real need among parents and teens when it comes managing their finances A reality reflected in a broad range of research involving teens and parents Unique partnership between Capital One and Search Institute in Minneapolis, Minnesota Search Institute is a major voice in positive youth development and for over 50 years has done research on factors that affect families and children. WHY SEARH Search Institute is leading innovator in growing great kids. As creator of the framework of 40 Developmental Assets, it has a strong national reputation as a credible, accessible resource for youth development, parenting, and community building. Search Institute has surveyed more than 3 million young people’s Developmental Assets since 1989 and continues to do so. The Bank It program leverages Search Institute’s understanding of young people, families, and communities with Capital One’s strengths in financial education and volunteerism.
Good morning. My name is Bert Davis and I brought you some insight into
Talking Points: Briefly review each theme noting its area of focus Point out that “Talk Well” is the foundational theme area for the rest of the curriculum and introduces the idea of equipping teens and parents to talk with one another about financial matters. That focus will run through all the financial theme area sessions. Talking Points: The first module in each theme area introduces basic concepts and skills and can be used as a single one-hour workshop or as the first in a two- or three-session series in that theme While the second session goes deeper into the financial theme area, the third module in each area provides linkage to the “National Standards in K-12 Personal Finance Education” from the Jump$tart Coalition for Personal Financial Literacy. The Bank It curriculum introduces all 29 of the Jump$tart standards addressing financial responsibility and decision making, income and careers,, planning and money management, credit and debt, risk management and insurance, as well as saving and investing Be prepared to explain what icons have to do with the topics Example: Give Well: Lower income Kids give more time than kids from wealthy families - Get data from the modules as needed
Objective To allow the teachers to experience one of the activities from the Talk Well parents module. Talking Points: Model Okay/Not Okay activity from the Talk Well Parents Module 3 On your table there are two different colors of paper: Red and Green Red is for STOP/Not Okay Green is for GO/Okay I’m going to read a statement. If you think the statement is okay: hold up the green GO IF you think the statement is not okay; hold up the RED Stop sign Statements: It’s okay to give a friend my ATM card and pin to get cash for me? I should write my PIN number on a piece of paper and keep it in my wallet A friend asks to borrow your cell phone to make a call An online gaming site needs you to enter your birth date in order to access the games A family member asks to use your name to get their utilities turned back on A store needs to write your SSN on your check A family member asks you to deposit a check for them into your account Discuss each statement as needed. Each of these has a more positive option that allows you to better protect your personal information and your credit. Debrief activity: Be sure to highlight the importance of protecting personal information Train the Trainer Note: This activity was taken from the Talk Well module and the RED and GREEN signs were an adaptation of the activity for this audience. Continue conversation from Talk Well Parents Module 3 ( See Handout in NAF Folder): Government Protections Review Truth in Lending Act Review Truth in Savings Act Review FDIC Brainstorm other methods of protecting your information with group. FLIPCHART
Objective: To demonstrate the options available on the Bank It website. Bring up the website on laptop: Demonstrate options on the site. Talking Points The Bank It website is where you, your students, or parents can access the workshop leader materials, the teen portal, and the Parent portal, a great set of conversation starter questions, Let’s take a quick guided tour! Browse the Opening Landing Page The Teen Page The Parent Page The Workshop Materials That’s the Bank it program. What Questions do you have about the program? Before you leave I have a surprise for you: Look under your seat: If you see Sketch on your seat you’ve won a set of the conversation starters to take back to your school with you. Everyone else wins a bouquet of Bank It pencils to share with your students. Thank you for your time and I look forward to hearing about your successes with using the Bank It program. Information from Contact reference: Include National Statistics , if needed, to fill the day
Session Overview <ul><li>Ice Breaker Activity </li></ul><ul><li>What is Bank It? </li></ul><ul><li>Group Discussions </li></ul><ul><li>Experience the Program </li></ul><ul><li>Website Preview </li></ul><ul><li>Wrap Up </li></ul>
Fixing an “F” Grade <ul><li>In your table groups, make a list of the top 3 steps you would take to help these students. Create a flipchart of your steps </li></ul><ul><li>Share out by table groups </li></ul><ul><li>You have 5 minutes </li></ul>
<ul><li>Teens </li></ul><ul><li>Active consumers* </li></ul><ul><ul><li>Spend $175 billion per year </li></ul></ul><ul><ul><li>21% credit card access </li></ul></ul><ul><ul><li>6% have ATM cards </li></ul></ul><ul><li>“ In the dark” on money topics* </li></ul><ul><li>“ F” for financial literacy** </li></ul><ul><li>Parents </li></ul><ul><li>More than 70% have spoken with teens about credit </li></ul><ul><ul><li>But only 44% of teenagers say their parents have talked to them* </li></ul></ul><ul><ul><li>75% of adults say it's important for adults to give financial guidance to children and teenagers while only 36 percent of adults actually do so.*** </li></ul></ul><ul><ul><li>88% of parents say it’s important to guide child's money use*** </li></ul></ul><ul><ul><li>Only 26% feel prepared*** </li></ul></ul>Why Teens and Parents Need Bank It *National Adult Financial Literacy, Research Overview, David Godsted and Martha Henn McCormick, 2007 **The Financial Literacy of Young American Adults, The Jump$tart Coalition for Personal Financial Literacy, 2008 ***Scales, P. C., Benson, P. L., & Roehlkepartain, E. C. (2001). Grading grown-ups. Minneapolis: Search Institute.
What is Bank It? Real-world topics and tools to help teens and parents improve the quality of conversations about topics Multimedia In-person workshop Interactive Web site
Through Bank It, Parents and Teens Will: <ul><li>Learn how to make positive money choices—starting now. </li></ul><ul><li>Become more comfortable with talking about and managing money. </li></ul><ul><li>Discover how to avoid common money traps. </li></ul><ul><li>Identify easy steps to reach their financial dreams. </li></ul><ul><li>Find people and resources to support them in making money choices. </li></ul><ul><li>Who is the audience? </li></ul><ul><li>Parents or other Caring Adult in a teens life </li></ul><ul><li>Teenagers (grades 6 to 12) </li></ul><ul><li>Volunteers (workshop leaders and community partners) </li></ul>
Overview of Workshop Options 12 Money Topics 3 Workshops per Money Topic L evel 1- Introductory Level 2- Going Deeper Level 3- More Advanced Talk Well Dream Well Invest Well Earn Well Give Well Budget Well Borrow Well Live Well Protect Well Save Well Spend Well Move Forward Well