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Teach Kids the Value of Money John Lanza Chief Mammal Snigglezoo Entertainment
We teach them… The ABCs To Eat Right Reading, ‘Riting, ‘Rhythmatic…
What about the fourth “R”? “ Real World” -Robert Duvall National Council  on Economic Education
The Result
We Can’t Afford Not To
Catherine Pulley, American Bankers Association “ Financial literacy is a basic survival skill that is as important as teac...
We Must Teach Our Kids
We Don’t Have A Choice
What are two of today’s most precious commodities?
The Time-Touch Balance
Robert Reiher Consumer Psychologist
Do you have enough TIME in the day for work & family?
3 out of 4 people feel that they just don’t have enough TIME in a day.
TOUCH  Most people want to “CONNECT” more with their kids, their spouse and with themselves
TOUCH  “ Nobody on their deathbed ever said ‘I wish I’d spent more time at the office’.” -Wise Person
Time-Touch  BALANCE
The  Time-Touch Dilemma
CHANGING CIRCLES OF INFLUENCE <ul><li>Outside Circles Of Influence  </li></ul><ul><li>vs.  </li></ul><ul><li>Inside Circle...
business media entertainment  government education technology politics OUTSIDE Circles of Influence economy  TIME-TOUCH ST...
business media entertainment  government education technology politics economy  TIME-TOUCH STRESS OUTSIDE Circles of Influ...
KIDS CAN’T PROCESS MEDIA BLIND SPOTS
parents trusted  caregivers loving  family  members  religious,  spiritual  &  educational  organizations trusted  health ...
parents trusted  caregivers loving  family  members  religious,  spiritual  &  educational  organizations trusted  health ...
INSIDE Circles = BEST INTERESTS
TIME  SCARCITY  CREATES  TOUCH  SCARCITY
INVISIBLE  TRADEOFFS <ul><li>Values  </li></ul><ul><li>Communication  </li></ul><ul><li>Behavior   </li></ul>
MISMATCH = DANGER <ul><li>OUTER CIRCLES </li></ul><ul><li>OF INFLUENCE  </li></ul><ul><li>vs.  </li></ul><ul><li>THE HUMAN...
RATIONAL Emotional  Brain Reflex Brain  Upshifting Downshifting Thinking  Brain Think Feel React 3 BRAINS BEHAVIOR
END RESULT Consuming / Materialistic  Kids
Importance of Touch: Focus on Family <ul><li>20-year study  </li></ul><ul><li>450 families </li></ul><ul><li>Farm Belt rec...
Importance of Touch: Focus on Family <ul><li>Successful families </li></ul><ul><li>Focused on Family </li></ul><ul><li>“ K...
Financial Literacy
The “Perfect Storm” <ul><li>Retirement Responsibility </li></ul><ul><li>Social Security </li></ul><ul><li>Retirement  - 40...
Lack of Education “ While there are many causes to the economic problems facing the country, it is undeniable that a lack ...
Children are already a major target audience for advertisers. American companies currently spend _______ a year on marketi...
$15 billion Source: Children Now Study on Advertising (2005)
Each year, the average child sees about _________ ads on television alone.
40,000 Source: Children Now Study on Advertising (2005)
Children under the age of eight do not recognize the persuasive intent of ads and tend to accept them as accurate and unbi...
Two Years Old! Source: Children Now Study on Advertising (2005)
Two Young??
We Must Establish Money Smarts Younger!
Early Chilhood Financial Literacy “… it is widely recognized that literacy, as the foundation for virtually all other subj...
The Result
What about the  Schools ?
Reality Check Jump$tart 2007 Survey, High School Seniors Mean Score =  52.4% Proportion failing exam =  62%
Reality Check In most cases, economics and personal financial literacy programs are elective classes so  “ only 12% of Ame...
<ul><li>It’s up to  Parents </li></ul>
What   percent  of  parents  believe that schools provide classes on money management and budgeting to their students?
80% Source: Learning Your Monetary ABCs, Martha H. McCormick and David Godsted (2006)
Are  Parents  up to the task? 71% of teens  report learning about money management from parents yet…
Are  Parents  up to the task? only  26% of parents  with children 5 or older feel well prepared to teach their kids about ...
A financial literacy  “buck”  is being passed from parents to teachers and back to parents again. Parents assume that scho...
Parents need help!
Strong Forces Working Against Financial Literacy
M.A.R.V.E.L.   TM Time-Touch Solution
M.A.R.V.E.L. ™ To Evoke Admiration And Wonder
M odel – Mirror Positive Values A ttune – Be “tuned in” & present R eflection –  Develop higher thinking skills V alues – ...
 
A Better Brand <ul><li>Three-pronged approach </li></ul><ul><li>Share </li></ul><ul><li>Save </li></ul><ul><li>Spend Smart...
Bonus  Benefit! Parents  Get It!
M odel – Share & Save & Spend Smart A ttune – Simple Message / Dialogue R eflection –  Teaching Guide V alues – Needs vs. ...
REMEMBER THOSE KIDS?
<ul><li>Needs vs. Wants </li></ul><ul><li>Making Choices </li></ul><ul><li>Sharing, Saving, Spending Smart </li></ul><ul><...
 
Delayed Gratification
Marshmallow Experiment <ul><li>Walter Mischel </li></ul><ul><li>4-year-olds </li></ul><ul><li>Receive marshmallow </li></u...
Marshmallow Experiment <ul><li>Followed into adolescence </li></ul><ul><li>Those who waited for SECOND: </li></ul><ul><li>...
Saving Money   IS Delayed Gratification
financial ILLITERACY OUTSIDE circles time-touch BALANCE INSIDE circles BEST INTERESTS  EARLY childhood F.L.  M.A.R.V.E.L.
BUILDING A KIDS CLUB CU’s Perfectly Positioned
CU PHILOSOPHY Time – Touch Balance Financial Education Social Responsibility Concern for the Community Member Service
Building a Kids Club Start With The FOUNDATION
The  YOUNGEST  members!
TIME & TOUCH
LOYALTY
You can’t just  THROW  out a club and expect it to stick.
Making Noise
Get into  Schools
EVENTS Media  coverage Internet Television Print Media
Be  CONSISTENT  and  PRESENT  with your  BRAND !
Newsletter is  THE CORE
CHALLENGE REFER-A-FRIEND
The  Incentive  Loop newsletter punch card deposit incentive branch
Encourage, Incentivize Key Traits Delayed Gratification
Using The  WEB
 
PlayJoe’s CU Game
PlayNeeds vs. WantsGame
More  Ideas Game nights Incentive Contests Low-cost activities Branches
Video &  Television
In Branch  Marketing
You can’t just be  good .
Be  Different!
Making the case:  Getting to  Yes
More than 22% Growth in 2008
Increase  core deposits New Club Starts Deposits Rise.
Parent balances up! New Club Starts Deposits Rise.
Decrease  member  age 47 to 44!
LOYALTY
Nurture them and they’ll become  profitable Future borrowers First car First credit card First loan
M odel – Mirror Positive Values A ttune – Be “tuned in” & present R eflection –  Develop higher thinking skills V alues – ...
Reach Gen X
… and Gen
Focus Groups
Did you like it? Would you recommend it to a friend? What would you change? Simplify to get results
Downturn  Not the time to cut back
Be  Different!
THRIFT SHIFT
What do you think?
Thank You.
www.themoneymammals.com Blog
The following images were used under Creative Commons Licenses: License details:  http://creativecommons.org/licenses/by-s...
The background image of the chalkboard is used under license from Glen Jones through the website dreamstime.com.  The foll...
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CUAO Youth Summit 2009

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Chief Mammal of Snigglezoo Entertainment , John Lanza's presentation to the CUAO Youth Summit about how credit unions can reach today's youth and make a difference in financial literacy with a great kids club.

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  • They learn the basic facts about money, but do we teach them about sharing, saving, spending smart, needs vs. wants?
  • CUs fit under educational
  • Inextricably linked
  • Inextricably linked
  • Outside circles outweigh inside
  • Use emotion to foster discussion / actions to promote Thinking brain. Research has shown that the feeling brain, when tapped into, can put thinking brain in a catatonic state
  • Media tells them what to eat, what to buy, what to believe
  • Who here is a parent? Would you not read... Build good behavior so we’re not having to fix bad behaviors…
  • Explain Jump$tart Coalition. Test every two years.
  • Currently, it’s up to parents. Go over some of the numbers from the NCEE report – survey of the states so people are aware of what’s going on legislatively. Also touch on CA and WA.
  • Re-outline the problems. Schools aren’t teaching it. Parents aren’t teaching it. We need a model to help parents teach.
  • enrich
  • Breaks down barriers / taboos
  • We help with the tools. Not just a character, but a character that shows the right behaviors
  • Our club is only as good as the people behind it. The weakest links
  • Galvanize community, involve parents
  • Super special
  • Show live example of the game
  • Kerrie – jump in
  • Need some good “be different” ideas. Need a great website, engaging newsletter,
  • Parents – time/touch balance
  • Change in behavior and ability to model…
  • I can tell you that if there’s going to be a shift, it’s going to come from the parents. And I also believe that it’s going to come from CUs
  • Transcript of "CUAO Youth Summit 2009"

    1. 1. Teach Kids the Value of Money John Lanza Chief Mammal Snigglezoo Entertainment
    2. 2. We teach them… The ABCs To Eat Right Reading, ‘Riting, ‘Rhythmatic…
    3. 3. What about the fourth “R”? “ Real World” -Robert Duvall National Council on Economic Education
    4. 4. The Result
    5. 5. We Can’t Afford Not To
    6. 6. Catherine Pulley, American Bankers Association “ Financial literacy is a basic survival skill that is as important as teaching kids to look both ways before crossing the street.”
    7. 7. We Must Teach Our Kids
    8. 8. We Don’t Have A Choice
    9. 9. What are two of today’s most precious commodities?
    10. 10. The Time-Touch Balance
    11. 11. Robert Reiher Consumer Psychologist
    12. 12. Do you have enough TIME in the day for work & family?
    13. 13. 3 out of 4 people feel that they just don’t have enough TIME in a day.
    14. 14.
    15. 15. TOUCH Most people want to “CONNECT” more with their kids, their spouse and with themselves
    16. 16.
    17. 17. TOUCH “ Nobody on their deathbed ever said ‘I wish I’d spent more time at the office’.” -Wise Person
    18. 18. Time-Touch BALANCE
    19. 19. The Time-Touch Dilemma
    20. 20. CHANGING CIRCLES OF INFLUENCE <ul><li>Outside Circles Of Influence </li></ul><ul><li>vs. </li></ul><ul><li>Inside Circles Of Influence </li></ul>
    21. 21. business media entertainment government education technology politics OUTSIDE Circles of Influence economy TIME-TOUCH STRESS
    22. 22. business media entertainment government education technology politics economy TIME-TOUCH STRESS OUTSIDE Circles of Influence
    23. 23. KIDS CAN’T PROCESS MEDIA BLIND SPOTS
    24. 24. parents trusted caregivers loving family members religious, spiritual & educational organizations trusted health professionals TIME-TOUCH BALANCE INSIDE Circles of Influence
    25. 25. parents trusted caregivers loving family members religious, spiritual & educational organizations trusted health professionals TIME-TOUCH BALANCE INSIDE Circles of Influence
    26. 26. INSIDE Circles = BEST INTERESTS
    27. 27. TIME SCARCITY CREATES TOUCH SCARCITY
    28. 28. INVISIBLE TRADEOFFS <ul><li>Values </li></ul><ul><li>Communication </li></ul><ul><li>Behavior </li></ul>
    29. 29. MISMATCH = DANGER <ul><li>OUTER CIRCLES </li></ul><ul><li>OF INFLUENCE </li></ul><ul><li>vs. </li></ul><ul><li>THE HUMAN BRAIN </li></ul>
    30. 30. RATIONAL Emotional Brain Reflex Brain Upshifting Downshifting Thinking Brain Think Feel React 3 BRAINS BEHAVIOR
    31. 31. END RESULT Consuming / Materialistic Kids
    32. 32. Importance of Touch: Focus on Family <ul><li>20-year study </li></ul><ul><li>450 families </li></ul><ul><li>Farm Belt recession in the 1980s </li></ul><ul><li>School-age children </li></ul><ul><li>Psychological impact on kids - significant and enduring. </li></ul><ul><li>Financial woes fuel: anxiety, depression, behavior problems </li></ul>
    33. 33. Importance of Touch: Focus on Family <ul><li>Successful families </li></ul><ul><li>Focused on Family </li></ul><ul><li>“ Kids didn't seem to mind </li></ul><ul><li>that they lacked spending money.&quot; </li></ul>
    34. 34. Financial Literacy
    35. 35. The “Perfect Storm” <ul><li>Retirement Responsibility </li></ul><ul><li>Social Security </li></ul><ul><li>Retirement - 401Ks </li></ul><ul><li>No more employer-provided </li></ul><ul><li>defined benefit plans </li></ul><ul><li>Easily accessible consumer credit </li></ul><ul><li>Movement towards a cashless society </li></ul><ul><li>Increasingly sophisticated marketing </li></ul>Source: Learning Your Monetary ABCs, Martha H. McCormick and David Godsted (2006)
    36. 36. Lack of Education “ While there are many causes to the economic problems facing the country, it is undeniable that a lack of financial literacy is a contributing factor.” -Charles Schwab Chairman President’s Financial Literacy Task Force
    37. 37. Children are already a major target audience for advertisers. American companies currently spend _______ a year on marketing and advertising to children under the age of 12—twice the amount they spent just 10 years ago.
    38. 38. $15 billion Source: Children Now Study on Advertising (2005)
    39. 39. Each year, the average child sees about _________ ads on television alone.
    40. 40. 40,000 Source: Children Now Study on Advertising (2005)
    41. 41. Children under the age of eight do not recognize the persuasive intent of ads and tend to accept them as accurate and unbiased. In fact, 30-second commercials have been found to influence brand preferences in children as young as ______ years old.
    42. 42. Two Years Old! Source: Children Now Study on Advertising (2005)
    43. 43. Two Young??
    44. 44. We Must Establish Money Smarts Younger!
    45. 45. Early Chilhood Financial Literacy “… it is widely recognized that literacy, as the foundation for virtually all other subject areas, needs to be taught from the very earliest ages; this focus on early childhood literacy is known as emergent literacy.” Source: Learning Your Monetary ABCs, Martha H. McCormick and David Godsted (2006)
    46. 46. The Result
    47. 47. What about the Schools ?
    48. 48. Reality Check Jump$tart 2007 Survey, High School Seniors Mean Score = 52.4% Proportion failing exam = 62%
    49. 49. Reality Check In most cases, economics and personal financial literacy programs are elective classes so “ only 12% of Americans graduate from high school having learned anything about money at all. ” Source: Learning Your Monetary ABCs, Martha H. McCormick and David Godsted (2006)
    50. 50. <ul><li>It’s up to Parents </li></ul>
    51. 51. What percent of parents believe that schools provide classes on money management and budgeting to their students?
    52. 52. 80% Source: Learning Your Monetary ABCs, Martha H. McCormick and David Godsted (2006)
    53. 53. Are Parents up to the task? 71% of teens report learning about money management from parents yet…
    54. 54. Are Parents up to the task? only 26% of parents with children 5 or older feel well prepared to teach their kids about basic personal finances.
    55. 55. A financial literacy “buck” is being passed from parents to teachers and back to parents again. Parents assume that schools are teaching financial literacy, but schools, by and large, are not teaching it. Teachers, like parents, don’t feel comfortable teaching it. -John Clow, Jump$tart Source: Learning Your Monetary ABCs, Martha H. McCormick and David Godsted (2006)
    56. 56. Parents need help!
    57. 57. Strong Forces Working Against Financial Literacy
    58. 58. M.A.R.V.E.L. TM Time-Touch Solution
    59. 59. M.A.R.V.E.L. ™ To Evoke Admiration And Wonder
    60. 60. M odel – Mirror Positive Values A ttune – Be “tuned in” & present R eflection – Develop higher thinking skills V alues – Establish key priorities in life E ngage – Create involvement L imit – Build strong foundation and structure The M.A.R.V.E.L. Map A Blueprint For Time-Touch Solutions
    61. 62. A Better Brand <ul><li>Three-pronged approach </li></ul><ul><li>Share </li></ul><ul><li>Save </li></ul><ul><li>Spend Smart </li></ul><ul><li>Engage Enrich Entertain </li></ul>
    62. 63. Bonus Benefit! Parents Get It!
    63. 64. M odel – Share & Save & Spend Smart A ttune – Simple Message / Dialogue R eflection – Teaching Guide V alues – Needs vs. Wants + E ngage – Fun + Action Steps L imit – Making Choices The M.A.R.V.E.L. Map A Blueprint For Time-Touch Solutions
    64. 65. REMEMBER THOSE KIDS?
    65. 66. <ul><li>Needs vs. Wants </li></ul><ul><li>Making Choices </li></ul><ul><li>Sharing, Saving, Spending Smart </li></ul><ul><li>Allowance </li></ul><ul><li>Money Spent = Money Gone </li></ul><ul><li>Saving is Good </li></ul><ul><li>Delayed Gratification </li></ul>What Can Kids Learn?
    66. 68. Delayed Gratification
    67. 69. Marshmallow Experiment <ul><li>Walter Mischel </li></ul><ul><li>4-year-olds </li></ul><ul><li>Receive marshmallow </li></ul><ul><li>Wait 20 minutes & get a SECOND </li></ul>
    68. 70. Marshmallow Experiment <ul><li>Followed into adolescence </li></ul><ul><li>Those who waited for SECOND: </li></ul><ul><li>More dependable </li></ul><ul><li>Better adjusted </li></ul><ul><li>210 points higher on SATs </li></ul>
    69. 71. Saving Money IS Delayed Gratification
    70. 72. financial ILLITERACY OUTSIDE circles time-touch BALANCE INSIDE circles BEST INTERESTS EARLY childhood F.L. M.A.R.V.E.L.
    71. 73. BUILDING A KIDS CLUB CU’s Perfectly Positioned
    72. 74. CU PHILOSOPHY Time – Touch Balance Financial Education Social Responsibility Concern for the Community Member Service
    73. 75. Building a Kids Club Start With The FOUNDATION
    74. 76. The YOUNGEST members!
    75. 77. TIME & TOUCH
    76. 78. LOYALTY
    77. 79. You can’t just THROW out a club and expect it to stick.
    78. 80. Making Noise
    79. 81. Get into Schools
    80. 82. EVENTS Media coverage Internet Television Print Media
    81. 83. Be CONSISTENT and PRESENT with your BRAND !
    82. 84. Newsletter is THE CORE
    83. 85. CHALLENGE REFER-A-FRIEND
    84. 86. The Incentive Loop newsletter punch card deposit incentive branch
    85. 87. Encourage, Incentivize Key Traits Delayed Gratification
    86. 88. Using The WEB
    87. 90. PlayJoe’s CU Game
    88. 91. PlayNeeds vs. WantsGame
    89. 92. More Ideas Game nights Incentive Contests Low-cost activities Branches
    90. 93. Video & Television
    91. 94. In Branch Marketing
    92. 95. You can’t just be good .
    93. 96. Be Different!
    94. 97. Making the case: Getting to Yes
    95. 98. More than 22% Growth in 2008
    96. 99. Increase core deposits New Club Starts Deposits Rise.
    97. 100. Parent balances up! New Club Starts Deposits Rise.
    98. 101. Decrease member age 47 to 44!
    99. 102. LOYALTY
    100. 103. Nurture them and they’ll become profitable Future borrowers First car First credit card First loan
    101. 104. M odel – Mirror Positive Values A ttune – Be “tuned in” & present R eflection – Develop higher thinking skills V alues – Establish key priorities in life E ngage – Create involvement L imit – Build strong foundation and structure The M.A.R.V.E.L. Map A Blueprint For Time-Touch Solutions
    102. 105. Reach Gen X
    103. 106. … and Gen
    104. 107. Focus Groups
    105. 108. Did you like it? Would you recommend it to a friend? What would you change? Simplify to get results
    106. 109. Downturn Not the time to cut back
    107. 110. Be Different!
    108. 111. THRIFT SHIFT
    109. 112. What do you think?
    110. 113. Thank You.
    111. 114. www.themoneymammals.com Blog
    112. 115. The following images were used under Creative Commons Licenses: License details: http://creativecommons.org/licenses/by-sa/2.0/deed.en http://www.flickr.com/photos/narciss/844589858/ http://www.flickr.com/photos/theritters/511298198/ http://www.flickr.com/photos/dtchristner/2243569889/ http://www.flickr.com/photos/johnmarchan/562116408/ http://www.flickr.com/photos/dno1967/2981180591/ http://www.flickr.com/photos/au_tiger01/2829431704/ http://www.flickr.com/photos/kevincollins/26249105/ http://www.flickr.com/photos/dvdmerwe/2728282041/ http://www.flickr.com/photos/alistairmcmillan/35747688/ http://www.flickr.com/photos/ahmedrabea/2154811923/ http://www.flickr.com/photos/blackdenimgumby/432498443/ http://www.flickr.com/photos/sravishankar/3462731/ http://www.flickr.com/photos/patdavid/208230592/ http://www.flickr.com/photos/abbot45/81766440/ http://www.flickr.com/photos/e-coli/2919452693/ http://www.flickr.com/photos/pshan427/1358194906/
    113. 116. The background image of the chalkboard is used under license from Glen Jones through the website dreamstime.com. The following images were used under Creative Commons Licenses: License details: http://creativecommons.org/licenses/by-sa/2.0/deed.en http://www.flickr.com/photos/papalars/2763115977/ http://www.flickr.com/photos/der_makabere/1635241685/ http://www.flickr.com/photos/houseofsims/2965024421/ http://www.flickr.com/photos/grumpychris/167928164/ http://www.flickr.com/photos/jamesjordan/660583916/ http://www.flickr.com/photos/raylopez/867883420/ http://www.flickr.com/photos/magical-world/2984862832/ http://www.flickr.com/photos/21804434@N02/2228247553/ The background images for the”Two Young??” and “Emergent Literacy” slides are licensed courtesy of Eileen Lanza Photography. The Money Mammals logo and characters are used courtesy Snigglezoo Entertainment. ©2008. All Rights Reserved. The image of the South Branch of Rogue Federal Credit Union is used with permission from Rogue Federal Credit Union.
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