Personal Finance presentation for 2018 NHAFCS conference

1. Personal Finance
Ms. Kae Cunningham
NHAFCS Conference- March 23, 2018

2. Financial Fitness Statistics
According to the 2017 Financial Consumer Literacy Survey:
 1 in 4 adults or 27% do not save for retirement
 Credit Card Debt is on the rise with 39% of adults in the US who
carry Credit card roll over at least $2500 monthly
 Only 40% have a budget
 24% have an emergency fund to cover $400 unexpected expense
That drops to 11%, if that expenditure increases to the
recommended $2000
Millennials are 2X more likely to have committed a
variety of Credit card blunders in the last 12 months

3. Financial Fitness Statistics
Some good news:
 Over all Americans are spending 26% less than in
previous years
36% of younger adults are more likely to save
compared to older generation
80% of all adults say they would benefit from
financial advice!
Lots more information @ www.nfcc.org/data
Other articles and data links also on Resource
Sheet

4. Financial courseware
Free online materials

5. Primary Course Resources
NEFE/HSFPP: https://www.hsfpp.org/about-the-
program/modules.aspx
JumpStart Coalition: http://www.jumpstart.org/about-
us.html
FCIC Money Smarts:
https://www.fdic.gov/consumers/consumer/moneysma
rt/young.htm
Practical Money :
https://www.practicalmoneyskills.com/

6. JumpStart Coalition
Materials correlate to state or national standards in one or more of the
discipline standards created by the following organizations:
 Business: National Business Education Association
 Economics: Council for Economic Education
 Family and Consumer Sciences: American Association of Family and
Consumer Sciences
 Mathematics: National Council of Teachers of Mathematics
 Social Studies: National Council for the Social Studies
 http://www.jumpstart.org/national-standards.html

7. NEFE- National Endowment for Financial
Education
 https://www.nefe.org/
 https://www.hsfpp.org/

8. Spending
and Saving
Credit and
Debt
Income &
Employment
Investing
Risk
Management
and Insurance
Financial
Decision
Making
Six Primary topic areas

9. Spending and Saving
Apply strategies to monitor income and expenses, plan
for spending and save for future goals.
Set up a Daily or weekly expense
tracking sheet
Can be paper, PC or App on smartphone
Create simple budget in excel or
google sheets
Pay yourself first! Establish a savings routine
Intro formulas and do some what-ifs
Spending
and Saving

10. Set up a Daily or weekly expense tracking sheet

11. Create simple budget in excel or google
sheets
 Pay yourself first!
Establish a savings
routine
 Intro formulas and
do some what-ifs

12. Financial Decision Making
Apply reliable information and systematic decision making to
personal financial decisions.
Financial
Decision
Making
Set SMART Goals
 Apply Financial Decision
Making

13. Financial Decision Making
Apply reliable information and systematic decision making to
personal financial decisions.
Financial
Decision
Making
 Apply Decision
Making Process
throughout

14. Income and Employment
Use a career plan to develop personal income
potential.
Career Search Exercise - Handouts
Identify career goals and income potential
Can include cover letter, resume writing, interview skills
Payday Simulation
Paycheck: gross vs. net, identify & explain all standard
deductions, taxes, etc.
Income &
Employment

15. Credit and Debt
Develop strategies to control and manage credit
debt.
Buying your dream car (handout)
True cost of car ownership
Could also include apartment hunting & associated
expenses
Recommended expense % ratio to income
Credit Card Risks (handout)
Monthly Payments
Minimums vs carryover options
Credit and
Debt

16. Investing
Implement a diversified investment strategy that is
compatible with personal financial goals.
Investment strategies
College funds
Homeownership
Retirement Investments
401k plans
Time value of money- investment scenario
Illustrates how investment grow (exponentially) and
value of saving early and throughout lifetime
Stock Market portfolio project
Use spreadsheet to track daily stock prices and graph
data $ growth over time
Investing

17. Risk Management and Insurance
Apply appropriate and cost-effective risk management
strategies.
Risk Management
Explore your options(handout)
Types of Insurance
Health Insurance
Auto Insurance
Life Insurance
This Photo by Unknown Author is
licensed under CC BY-NC-SA

18. Additional Resources

19. Banking
Wells Fargo
https://handsonbanking.org/educators/
TD Bank
http://www.tdbank.com/wowzone/educators/
Money Instructor- Online banking simulation
https://www.moneyinstructor.com/onlinebanking.as
p
This Photo by Unknown Author is licensed under CC BY-
ND

20. Games , Apps, Video
 https://www.youtube.com/user/NonprofitNEFE/featured
Spending addictions
 https://www.consumerjungle.org/game_link
Loads of online games and simulations for K-12
Money management, Car buying, Expense tracking,
Accounting, budget apps, credit card simulator, etc.
 http://www.genirevolution.org/
Personal finance online game
 http://www.jumpstart.org/reality-check.html
Reality Check-Dream life vs. cost calculator worksheet

21. Supplemental resources
 Payday: A Personal Finance Simulation
by Christine Bond Oakes, 2007 The
Goodheart Wilcox Company.
 Nickel and Dimed: On (Not) Getting By
in America Paperback – August 2, 2011
by Barbara Ehrenreich
 Scratch Beginnings: Me, $25, and the
Search for the American
Dream Paperback – February 9, 2010
by Adam W Shepard

22. Questions?
Thank you!
Link to Presentation and Resource document
www.cunningham71.edublogs.org