CEE Teaching Personal Finance Concepts With Animated Videos-10-13


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CEE Teaching Personal Finance Concepts With Animated Videos-10-13

  1. 1. Teaching Personal Finance Concepts with Animated Videos Barbara O’Neill, Ph.D., CFP® Extension Specialist in Financial Resource Management and Distinguished Professor Rutgers Cooperative Extension oneill@aesop.rutgers.edu
  2. 2. Personal Introduction • Professor II and Extension Specialist in Financial Resource Management • Rutgers Cooperative Extension employee for 35 years • CFP® for 29 years • Teach undergraduate Personal Finance class • Frequent trainer for the CEE and NJCEE • Twitter handle: moneytalk1
  3. 3. Four Workshop Objectives • Explain uses of animated videos • Demonstrate sample animated videos • Discuss tips to make animated videos • Have participants start writing a video script
  4. 4. Virtual World Educational Content • How many are familiar with Second Life? • How many regularly use Second Life? • How many are familiar with Xtranormal, Goanimate, Plotagon, Creaza, etc.? • How many have made animated videos?
  5. 5. Virtual Learning Platforms Second Life • Requires users to be able to access and use Second life • Good for in-depth content • Requires payment for land, clothes, etc. (Linden dollars) Xtranormal et al. • Users access content through online searching or links sent to them • Good for short content “sound bites” of 2-3 minutes • Requires payment to publish videos or go beyond basic features
  6. 6. Second Life Introduction http://secondlife.com/ http://maps.secondlife.com/ (Second Life World Map) http://maps.secondlife.com/index.php?q=morrill+island&s=Places (Cooperative Extension Morrill Island)
  7. 7. Animated Video Web Sites • Xtranormal- SUSPENDED OPERATIONS 7/31/13- www.xtranormal.com • Go Animate- http://goanimate.com • Plotagon- https://plotagon.com • Creaza- http://www.creazaeducation.com/
  8. 8. Five Uses for Animated Videos • Teach concepts and promote the use of educational materials (e.g., SSHW) • Provide case studies for staff training (e.g., NYPL) • Student-created videos as class assignment • Promote savings and America Saves • Outreach to a specific target audience (e.g., service members)
  9. 9. #1. Teach Concepts and Promote Educational Materials • Rutgers Cooperative Extension Small Steps to Health and Wealth™ program: http://njaes.rutgers.edu/sshw/ • “SSHW encourages people to make positive behavior changes to simultaneously improve their health and personal finances” (elevator statement) • Second edition published in February 2013 See http://palspublishing.cals.cornell.edu/nra_order.taf?_function=detai l&pr_id=159&_UserReference=484E20A122FFE31150EEE5FC
  10. 10. SSHW Video http://www.youtube.com/watch?v=PpYMxgZCtZ8
  11. 11. 2. Provide Case Studies for Staff Training • Used in training New York Public Library staff about financial education resources • Short videos (approx. 2-3 minutes) featuring a library staffer and patron • Ends with a question posed to the library staffer • Segue to group discussion
  12. 12. Program Overview Money Matters– Information Not Advice: A NYPL Staff Training Program • Series of 11 NYPL staff training workshops • Offered in Manhattan, the Bronx, Staten Island • Online content: Leader’s Guide and e-Learning Modules
  13. 13. Money Matters Objective To help build skills and confidence to help patrons to access timely, accurate, and trustworthy information about personal finance. This project was made possible by a grant from the U.S. Institute of Museum and Library Services (IMLS)
  14. 14. NYPL Staff Role: Information Not Advice Giving information lets someone know what the options are so he/she can make a decision about the best course of action. Giving advice is telling another person what he/she should do. It may send an unspoken message that the listener is not capable of making his/her own decisions, but needs to be told what to do.
  15. 15. Money Matters Pro Web Site • URL: https://sites.google.com/a/nypl.org/money-matters/ • Includes all resources developed for NYPL staff training (PowerPoints, handouts, resource lists, etc.) • Video link is included in each training module
  16. 16. Xtranormal Video Use in Training • Used in training NYPL staff about answering patron questions using financial education resources • Short videos (approx. 2-3 minutes) featuring a library staffer and patron • Ends with a “resource” question posed to the library staffer • Segues to a group discussion
  17. 17. NYPL Xtranormal Videos (mp4 Files) https://sites.google.com/a/nypl.org/mone y-matters/library-reference-scenarios
  18. 18. 3. Student Created Videos • Personal Finance class (DAFRE elective undergraduate class) Web site: http://rci.rutgers.edu/~boneill/ • Financial Case Study Analysis assignment: http://rci.rutgers.edu/~boneill/assignments/case- study.html • Capstone activity: integrates entire semester’s content: topics, financial analysis tools, etc. • Teams of 3-4 students; requires both a paper and a presentation
  19. 19. Financial Case Study Presentation: Make Me Say WOW! • Straight PowerPoint Presentation (bare minimum) • Poems • Fairy Tale: http://www.slideshare.net/BarbaraONeill/personal- finance-class-group-case-study-project-slides-1211 • Skits • Xtranormal Videos
  20. 20. Xtranormal Video Case Study Presentation • Case Study Scenario: http://www.youtube.com/watch?v=AJqE07zBvb8 • Financial Advice: http://www.youtube.com/watch?v=8FV6KkXJT6w
  21. 21. 4. Promote Saving and America Saves America Saves Video #1: Saving Money with America Saves http://www.youtube.com/watch?v=yChFVQvzOGc America Saves Video #2: Saving Money on a Tight Budget http://www.youtube.com/watch?v=FV0Ib07WXOM America Saves Video #3: Set a Goal http://www.youtube.com/watch?v=1bc8VmugNE4 America Saves Video #4: Make a Plan http://www.youtube.com/watch?v=1KWyCQz91N8 America Saves Video #5: Save Automatically http://www.youtube.com/watch?v=4bhJ0ck2qSA America Saves Video #6: The America Saves Challenge http://www.youtube.com/watch?v=7UZPZUcwvww
  22. 22. 5. Outreach to a Target Audience (Service Members) • Saving Money With Military Saves: http://www.youtube.com/watch?v=E0HqKb1xx5k • Saving Money in the Thrift Savings Plan: http://www.youtube.com/watch?v=SDY0Cc4kqZQ • Debt-to-Income Ratios: http://www.youtube.com/watch?v=loV5ff8rt5o • Credit Reports: http://www.youtube.com/watch?v=bUXvc-jyrsk Plus 6 other videos at http://www.youtube.com/user/moneytalkBMO
  23. 23. Start Your Videos With a Plan! • Video title and purpose • Number and types of characters • Key content concepts (2-3) • Key marketing concepts (2-3) • Title slide text content (e.g., organization Web link, mission statement, meaningful quotation )
  24. 24. Helpful Things to Know • Review tutorials with screen shots • Review pricing plans and features • Simple words are best in video scripts – Example: “maybe” instead of “possibly” • Spell words out as they are pronounced – Example: Four oh one kay plan for 401(k) plan
  25. 25. More Helpful Things to Know • Publish video on YouTube and save as mp4 file • Expect some “intonation issues” (like a GPS) • Consider building a multi-video story line with the same characters
  26. 26. Let’s Start YOUR Animated Video • Video presentation or student assignment – What do you want to teach or promote? • Two Characters • A few rounds of dialogue between characters
  27. 27. Other Cool Tech Tools to Teach Personal Finance • CEE Compound Interest Calculator (EconEdLink): http://www.econedlink.org/interactives/index.php?iid =2&type=educator • FINRA Financial Literacy Quiz: http://www.usfinancialcapability.org/quiz.php • PowerPoint Games – Jeopardy! – Who wants to be a Millionaire? Template CDs are available
  28. 28. Comments? Questions? • Go forth and create powerful animated videos • Create videos yourself or have your students create them • Write video costs into grant applications • Make content presentations fun! • Be Xtraordinary!