Learning Circle 8: Financial Literacy · 2010-06-08 · the previous flip chart, facilitator writes...
Transcript of Learning Circle 8: Financial Literacy · 2010-06-08 · the previous flip chart, facilitator writes...
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
Goalstatement:
Bytheendofthistraining,participantswillexperience,understand,andbeabletoapplytheprinciplesofinvestmentcyclesandhowtoimplementsuchprincipalspracticallyinthelivesofyouths;astrategyforinterruptingthedivestmentcyclefromcommunities;andfinancialliteracytips
Wewillaccomplishthisby:
− Reflectingonourpersonalrelationshiptomoneyandfinancialeducation− Listeningtothestoriesoftwoyouthwithtwodifferentfinancial
experiences− Learningaboutinvestmentcyclesofthreetypesoffinancialinstitutions:
checkcashingbusinesses,banks,andcreditunions− Usingtheatertodeconstructtheyouths’storiesandfindingwaysto
increasetheirfinancialliteracy− Workinginsmallgroupstoshareknowledgeandresources− Visuallydreamingofafinanciallyliterateworld
AgendaOverview:
Welcome and Arrival (20 minutes)Reflect (30 minutes): Self-Assessment Listen (30 minutes): Youth Stories Inquire (60 minutes): (Re)play, Interrupt, Change Connect (35 minutes): Small Group Work (Financial Literacy Education, Policy, Program Practices, Personal Finance) Dream (45 minutes): A Possible Financially Literate World Act (15 minutes): Act Worksheet and Evaluations
MaterialsNeeded:
− Markers− Flipcharts− Butcherpaper− 200$5Monopolycashorotherplaymoney− Twoimitationcheckswith$200writtenonthem− Theinvestmentcyclechartonflipchartpaper− Handouts:
o “TwoSisters,TwoStories”handouto FinancialLiteracySelf‐Assessmento Actworksheeto Evaluations
Context:
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
Giventheconstrainedeconomicrealitiesofmanyorganizations,theneedtoconnectlarger,sometimesabstractdiscourseaboutstrategiesrelatedtosustainabilitywithwhatisrealisticandrelevanttoindividualpracticeisvital.Youthworkers,inparticular,areoftenchargedwithtransferringknowledgeandgoodworkingpracticesaroundfinancialmanagementtotheyoungpeopleintheirprogramswithoutmuchregardfortheimplicationsorimportanceoftheirownlearningaroundthesesameissues.Theneedforatrainingthattakesintoaccountbothindividualcontextaswellasshiftingsocioeconomicvariables(likegentrificationandlocaleconomicstability)isastimelyasitiscriticaltobasicskilldevelopmentofyouthworkers.
DetailedAgenda:
Welcome–20minutesMaterialsNeeded:Flipchart,markers
Directions:WelcomeparticipantstotheLearningCircle/Training.Inviteallparticipantstointroducehim/herself.
Reviewgroundrules/groupagreements/rightsandresponsibilities.Ifyoudonothavegroundrules/groupagreementsalreadyset,youcaneitherhavethegroupbrainstormgroundrules/groupagreements/rightsandresponsibilities.Oryoucanusetheonesprovidedbelow.Itisimportantthatallparticipantsactivelyagreetothegroupagreementsatthebeginningofthetraining,andunderstandwhatthegroupagreementslooklike.
Example:IfrespectisagroundruleASK:Howdoyouknowwhenyouarerespected?Howdoyourespectothers?
Establishboundariesandconsequencesifanyonebreaksagroupagreement.
Example:Ifaparticipantbreaksanagreement,theyhavetoparticipatesilentlyfor10minutes.
Example:Ifsomeoneisfeelingunsafe,theycansay“Ouch”,andthatisacuefortheleadertoaskwhytheysaid“Ouch”anddealwiththesituationdirectly.
ExamplesofGroupAgreements
− Speakfromyourownexperience.− Seektounderstand.− Listenactively.− Challengeself.− Acknowledgeboundaries.− Stepup;stepback.− Celebratediversity.
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
Reflect–SelfAssessment–30minutesMaterials:FinancialSelfAssessmentcopies,pens
SettingContext:Thepurposeofthisactivityistogetparticipantstoreflectontheirownlifeinrelationtofinancialliteracy.
Directions:Handout“FinancialSelf‐Assessment.”Saysomethinglike,“FinancialLiteracyisnottaughtinschoolsasapartofastandardcurriculum.Itisnotonanystandardizedtestsoronanyentrance/exitexamsoranybasiccompetencyexams.Yet,financialliteracyandthebenefitsofhavingknowledgeofthesubjectariseseverydayinthelifeofpeopleofallages.Asyouunderstandandfindyourroleinthissubjectinrelationtoyoungpeople,wefirstwanttobeginwithareflection.PleasereadandwriteYorN(yesorno)tothequestionsonthehandout.You’llhaveaboutfiveminutes.Whenyourdone,pleasefindapartneranddiscussthefollowupquestions.”
Giveparticipantsfiveminutesforindividualwork.Attheendoffiveminutes,encourageparticipantstofindapartner.
Giveparticipants15minutestodiscusstheworksheetinpairs.
Attheendoffifteenminutes,reconvenethelargegroupanddebriefusingthefollowingquestions:
− Whatstoodoutforyou?− Whattoolsdidyouhaveatage12and16thatsupportedyourgrowthin
financialliteracy?− Whatdidyouwishyouhadatage12and16?− HowdidyouallgetfrompointAtopointB(possiblebrainstormposter)
o Possibleanswersinclude:1. Parentstaughtme2. College3. Mademistakes,learnedthehardway4. Didownresearchonsubjects
Atthewrapupofthedebrief,saysomethinglike,“Ifouryoungpeopleareinasituationwherealotofthesethingsaren’tpossible,howandwhenwillouryouthgetknowledgearoundthesubject?Wherewilltheygetthisinformation?Whoisresponsibleforprovidingthisinformation?”Donotanswerthesequestions.Rather,encourageparticipantstoholdthesequestionsthroughouttherestoftheLearningCircle.
Listen–YouthStories–20minutes
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
Materials:200$5Monopolycashorotherplaymoney,twoimitationcheckswith$200writtenonthem;“TwoSisters,TwoStories”handout;flipchartpaper,markers,theinvestmentcyclechartonflipchartpaper
SettingContext:ThepurposeofthisactivityistoshowparticipantshowmoneyiseitherinvestedordivesteddependingonHOWfinancialliteracyhappenswithinyouthprograms.
Directions:Invitetwoparticipantstothefrontoftheroom.OneparticipantisCarla.OneparticipantisElsa.Handoutfour$5toallparticipants(ifthereare20peopleormore.Iftherearelessthan20people,handoutsixbillsperperson).Inviteaparticipanttobeataxcollector/cityagencyrep.Inviteaparticipanttobeapaydaylender.Inviteaparticipanttobeabanker.Handout“TwoSisters,TwoStories”toallparticipants.
Have“Carla”standononesideofthemainfacilitator.Have“Elsa”standontheothersideofthemainfacilitator.BeginCarla’sstory.Readthebulletsandinstructparticipantsto“do”theactionsintheparenthesis.
CARLA
• CarlaparticipatesinayouthleadershipprogramtwotimesaweekatherneighborhoodyouthcenterthatisfundedbyaCityAgency.TheCityAgencyreceivesitsmoneyfromthetaxpayers.(Havethetaxcollectorcollect$5fromeither40participantsOR$10from20‐39participantsOR$15from10‐19.Havethetaxcollectorcountout$200andhandittothefacilitator.)
• Shereceivesa$200stipendcheckeachmonth.(FacilitatorhandsimitationchecktoCarla.)
• Onpayday,CarlatakesherchecktotheMoneyMartcheckcashieraroundthecornerfromtheyouthcenter.(HaveCarlahandthechecktothepaydaylender.Havethepaydaylendercountout$190andhandittoCarla.)
• Shewalksoutwith$190cashinherpocket.Onherwayhome,shebuysherfastpass.(HaveCarlacountout$15andgiveittothefacilitator.)ShealsostopsatMcDonaldsforaquickbite.(HaveCarlacountout$10andgiveittothefacilitator.)Then,shestopsatFootLockeroranotherstoreandbuysafewthings.(HaveCarlacountout$100andgiveittothefacilitator.)Shearriveshomewith$75.
• Athome,Carlausuallygiveshermother$50(HaveCarlahandthefacilitator$50)andkeepstherestforspendingthroughtherestofthemonth.
• Carlalovesherpaydayritualandbringshersisteralongsometimes.ShefeelsproudtobeearningmoneyandtobeinapositiontotreathersistertoMcDonald’s.
• Carla’smotherusedtobringheralongonpaydaywhenshewouldshopforgroceries,clothes,andotherthingsfortheirhome.Foranafternoontheywouldfeelliketheycouldbuyanything.(HaveCarlaholduphowmuchmoneyshehasleft.)
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
FASTFORWARDtoa23or24‐year‐oldCarla
IMPACT:Financial
• Bytheendofhighschool,Carlahadspent$480oncheckcashingfees.(Facilitatorwrites$480largeonapieceofflipchartpaper.)
• Whenshewas18,shestartedCityCollegeandgotafull‐timejobearning$30,000topayherexpenses(Facilitatorwrites$30,000largeonapieceofflipchartpaper).ShekepttakingherchecktoMoneyMart—nowshepays$1,500peryearinfees.(Facilitatorwrites$1500underneath$30,000.Thensubtracts$1500from$30,000foratotalof$28,500.)
• Twicewhensheneededextracash,onceforacarrepairandonceforbooksforschool,shegotapaydayadvancefromMoneyMart.Shedidn’thaveenoughtopayitoffbythenextpaychecksoshepaidthefeesagain.Bythetimeshecouldpayitoffthefees,shepaidback$800toborrow$325,bothtimes,foratotalof$950infeesontopofhercheckcashingfees.(Facilitatorwrites$950largeunderneath$28,500.Subtract$950from$28,500foratotalof$27,550.)
• BecauseshewalkshomewithlotsofcashwhensheleavesMoneyMartandstoresitinherroom,thereisachanceCarla’smoneycouldbestolen,misplacedorlost.(Facilitatorwrites$2000largeunderneath$28,550torepresentstolen,misplaced,orlostmoney.Subtract$2000from$28,550foratotalof$26,550.)
IMPACT:Knowledge,practices0
• Carlahasneverhadasavingsaccount,sosheisnotfamiliarwithdealingwithbanksorcreditunions.(Onaseparatesheetofflipchartpaperhungnexttothepreviousflipchart,facilitatorwritesSKILLSacrossthetop.Facilitatorwrites“Savings”thencrossesitout.)
• Carlahasneverhadacheckingaccount,sosheisnotfamiliarwithbalancingacheckbookorusinganATMcard.(Facilitatorwrites“BalancingaBudget”thencrossesitout.)
• Carlaisnervousaboutgettingacreditcardandworriesthathercreditisn’tgoodanywaybecauseshewasdeniedcreditonce.(Facilitatorwrites“Credit”thencrossesitout.)
• Carlaoperatesonacashbasis,soshecannotmakereservationsonlineusingacreditcard.Shecan’tbuyanairplaneticketonlineandshecan’trentacar.(Facilitatorwrites“Access”thencrossesitout.)
• Carladoesn’thavesavingsgoalsbecauseshewasneverexposedtosaving,trackingexpenses,orfinancialgoal‐setting.Sheismorefocusedonstretchinghermoneythroughthemonth.(Facilitatorwrites“Goalsetting”thencrossesitout.)
Facilitatorthanks“Carla”andhashersitdown.ThenmovesontoElsa’sstory.
ELSA
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
• Carla’syoungersister,Elsa,participatesinayouthleadershipprogramthatprovidesfinancialtraining.ThisprogramisalsofundedbyaCityAgency.TheCityAgencyreceivesitsmoneyfromtaxpayers.(Havethetaxcollectorcollect$5fromeither40participantsOR$10from20‐39participantsOR$15from10‐19.Havethetaxcollectorcountout$200andhandittothefacilitator.)
• Aspartofthisprogram,Elsalearnedaboutfinancialissuesandnowtrainsotheryouthfromtheneighborhoodaboutsaving,budgeting,spending,andfinancialinstitutions.
• Elsa’sprogramgaveherasavingsaccount,andtheydeposither$200monthlystipenddirectlyintoheraccount,soshedoesn’tgetacheck.(FacilitatorpresentsthechecktotheaudienceandElsa.ThenfacilitatorhandsthechecktotheBanker.)
• Atfirstshedidn’tlikeitbecausehersisteralwayshadacheckandsheusedtogowithhertocashitandthenspendmoneyonthewayhome.ThatishowElsathoughtitwouldbeforher.
• Theytake10%outofherstipend,andputitintoalong‐termaccountthatshecan’ttouchuntiltheendoftheprogramyear.(Havethebankercountout$20andsetitaside.)
• Attheendofherfirstyear,shehad$240savedupandhadearned$10ininterest.Sheusedthemoneytobuyacamera.(BankershouldhandElsa$250dollars.)
FASTFORWARDtoa23or24‐year‐oldElsa
IMPACT:Financial
• Bytheendofhighschool,Elsahadsaved$500duetoheragency’sstipendpaymentpolicy.Afterthefirstyearseeinghowthesavingsaddedup,Elsasavedmoreofherstipendtogetabettercamera.(Facilitatorwrites$500onflipchartpaper.Facilitatorwrites$20INTEREST.Facilitatoradds$500and$20foratotalof$520.)
• Whenshewas18,shestartedCityCollegeandgotafull‐timejobearning$30,000topayherexpenses.Sheaskedheremployerfordirectdepositandestablishedasavingsaccountsosomeofhercheckwouldgodirectlyintothesavingsaccount.Shesetagoalofsaving$2,000soshecouldbuyausedcar.(Facilitatorwrites$2000onflipchartpaper.Facilitatorwrites$80INTEREST.Facilitatoradds$2000and$80foratotalof$2080.)
• Elsahadanemergencyexpenseandshecovereditwithheremergencysavingsfund.
IMPACT:Knowledge,practices
• Elsawasaccustomedtohavinganaccountsoitwaseasyforhertosetupdirectdepositandtwoaccountsforhersavingsgoals.(Onaseparatesheetofflipchartpaperhungnexttothepreviousflipchar,facilitatorwritesSKILLSacrossthetop.Facilitatorwrites“Savings”.)
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
• Elsahadneverhadacreditcard,butshewasfamiliarwithbudgetingandtrackingherexpensessoshewasn’tworriedshewouldn’thaveenoughtopayherbillorwouldn’tknowhowtoreadthestatementandfigureouthowitworked.(Facilitatorwrites“Budgeting”.)
• Elsaknewitwasimportanttobuildcreditsosheappliedforacreditcardthroughherfinancialinstitution.Sheusedittobuyherfamilyairlinetickets,makereservationsforGreatAmerica,andotherthings.Elsaalwayspaidthebalanceinfulltomaintainhercreditandavoidpayingmoreinterest.(Facilitatorwrites“Credit”and“Access”.)
• Onceshehadaportionofhersavingsforthecar,Elsaputitina6‐monthCDbecausesheknewitwouldearnmoreinterest.(Facilitatorwrites“GoalSetting”and“Investment”.)
Facilitatorthanks“Elsa”andhashersitdown.FOLLOWINGTHEMONEY:WHEREDOFEESANDDEPOSITSGO?
Askforthepaydaylendertocomebackup.Askforthreevolunteers.HaveoneparticipantbetheDollarFinancialCorpandstandasfarawayfromthegroupaspossible.Haveoneparticipantbealobbyist.Havethefinalparticipantbeapolitician.HavethelobbyistandpoliticiansaunterovertotheDollarFinancialCorprep.
Whathappenstothe$10feeCarlapaysMoneyMarteachmonth?
• Theother$10endsupinBerwyn,PA—homeoftheDollarFinancialCorp,whichownsMoneyMart,LoanMart,andmore.LoanMartistheirpaydaylender.(HavepaydaylendertakemoneyawayfromthecircleandgiveittotheDollarFinancialCorprepstandingontheothersideoftheroom.)
• TennesseeisthebirthplaceofpaydaylendingandisstillhometoCheckIntoCash,thethirdlargestpaydaylenderinthecountry.Itsfounder,W.AlanJones,isalongtimefriendof,andcontributortoBobCorker,TennesseeSenatorandmemberoftheSenateBankingCommittee.(HavetheDollarFinancialCorprepgive$5tothepolitician.)
• CorkerwasresponsibleforsecuringanexemptionforpaydaylendersfromoversightoftheConsumerFinancialProtectionAgencyinthebillthatCommitteeChairSenatorDoddreleasedlastweek.(Havethepoliticianpocketthemoney.)
• Inshort,theserelativelynewcompanies(mostwerefoundedintheearly1990s.CashintoCheckwasestablishedin1993)usetheirprofitstobuypoliticalinfluenceandregulationexemptions.(HavetheDollarFinancialCorprepgive$5tothelobbyist.Havelobbyistpocketthemoneyandlobbythepolitician.)
Thanktheparticipantsandhavethemtakeaseat.
Example:DifficultyGettingRateCapsforPaydayLoansPassed
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
• A36%ratecapforactive‐dutymembersofthemilitaryandtheirfamilieswaspassedin2006andwentintoeffectonOctober1,2007.Itwasaprovisionburiedinalargemilitarybill.TheDepartmentofDefensesoughttoregulatepaydaylenderratesformilitarypersonnelfordeploymentreasons.Highdebtcanmeanlossofsecurityclearanceordischarge.
• SenatorRichardJ.Durbin,DemocratofIllinoishasproposedextendingthiscaptoallborrowersin2008and2009.
• Currently12stateshave36%ratecaps,plusDC.InCalifornia,Lenoauthoredabillin2008thatdiedaftertwoweeks.In2009,financialbillswerefocusedonmortgageissues.
THEINVESTMENTCYCLE
WhatHappenstotheDepositsMadeatFinancialInstitutions?
WhathappenstoElsa’sdeposits?Atabank?AtaCreditUnion?
• Atabank,herdepositsarepooledwiththeentirebank’s,depositsandareinvestedinlargerenterprises—businesses,investments,maybelocally,butnotnecessarily.
• InaCU,Elsa’sdepositscirculateinlocaleconomy(ortheassociationmembership)—hermoneygetsloanedouttoanotherlocalpersontobuildtheircredit,theirbusiness,theirhome.
Whobenefits?
• Atabank,ifthebankdoeswell,thestockholdersbenefit.• AtaCU,iftheCUdoeswell,Elsagetsabetterreturnonhersavingsaccount
and/orlowerfees—becausesheisastockholder.Whodecides?
• Atabank,itistheshareholdersorboardthatmakesdecisions,notthecustomer.
• AtaCU,thememberselecttheboardofdirectors.Infact,Elsacouldrunfortheboard.Eachmemberhasinfluenceoverpoliciesandproductsoffered.
Showtheflipchartwiththeinvestmentcycleonit.
Inquire–(Re)play,Interrupt,Change–60minutesMaterials:paperremotecontrols,“TwoSisters,TwoStories”handout
SettingContext:ThepurposeofthisactivityistodeconstructCarlaandElsa’sstoriestounderstandHOWyouthworkerscaninterruptthedivestmentcycle.
Directions:Breakthegroupintosixsmallergroups.HavehalfthegroupdissectCarla’sstory.HavetheotherhalfofthegroupdissectElsa’sstory.Tellthegroups
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
thattheirtaskforthenextfifteenminutesistoidentifyWHEREinthestoriesYOUTHWORKERScanmakeanimpactbyINTERRUPTINGthecycleoffinancialilliteracyandHOWtheycanINTERRUPTthestorytoCHANGEthelong‐termoutcomes.Instructthegroupthattheywillbe“performing”thesestoriestothegroup,sotheyshouldbeconcretewithactualwords,phrases,andACTIONSthatYOUTHWORKERScanuse.
Givethegroups15minutestocraftthestories.
Reconvenethegroup.Providethefollowinginstructions:
− WeareusingtheprinciplesofaDVDREMOTECONTROLduringthesestories.Whatarethoseprinciples?(Havetheparticipantsbrainstorm.Makesuretheyinclude:Rewind,Pause,FastForward,SkipAhead,StartOver,MainMenu).
− WewillbestartingwithCarla’sstory,andonegroupwillstartthingsoff.Pleasegivethefirstgroupaminuteorsotoestablishthestory.Thentakeoutyourremotecontrol.
− Asyouwatchthestoryunfold,youareincontroloftheremote.IfyouseeanopportunitytoINTERRUPTthecycleoffinancialilliteracy,yellPAUSE!Then,instructthegroupwhereto,eitherrewindorfastforwardto,tapsomeoneout,andtaketheirplace.(NOTE:EncouragetheothergroupstoINTERRUPTwiththeirbrainstormedstrategies.)
− Aftersomeonehasbeenreplaced,thefacilitator“clicks”PLAY.− ThestoryunfoldsuntilsomeoneintheaudienceyellsPAUSE.− ContinuePLAYINGuntilthestorycomestoanend.− Then,ifanothergroupwithCarla’sstorywouldliketostartthestoryover
theymay.Ifnot,moveontoElsa’sstoryRepeattheprocess.
AfterbothCarlaandElsa’sstoryhasunfolded,debrieftheexerciseusingtheORID1debriefquestionsbelow.
− OBJECTIVE:Whatphrasesandwordsdidyouhearduringthisexercise?Whatactionsandinteractionsdidyounoticebetweenparticipants?Whatbehaviorschangedandhowdidtheychange?(Stayspecificandobservational.)
− REFLECTIVE:Howdiditfeelwatchingthesestoriesunfoldinfrontofyou?Aseither“Carla”or“Elsa,”whatemotionscameupforyouduringthedifferentstrategiesbeingused?Asayouthworker,whatemotionsorfeelingscameupforyouasyouweretryingdifferentstrategies?Weretheremomentsoffrustration?Whatwerethey?Werethemomentsofclarityoran“ahamoment”?Whatwerethey?
1ORIDisaspecificdebriefingtechniquedevelopedbytheInstituteforCulturalAffairs.
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
− INTERPRETIVE:Whataretheessentialmessagesand/orthemesofthesestories?Lookingbackattheopeningexercise,theself‐assessment,wherewereyouinCarlaandElsa’sstory?HowcanyouuseyourstorytoeducatecurrentandfutureCarlasandElsas?
− DECISIONAL:Whatisonethingyouaregoingtododifferentlyasaresultofthesestoriesandexercises?
Connect(35minutes):SmallGroupWorkMaterials:None
SettingContext:Thepurposeofthissectionistobreakintotwogroupstoexploreandfindresourcesthatcanbuildyouthandyouthworkersfinancialliteracy.
Directions:Instructtheparticipantsthatyouwillbebreakingupintotwosmallgroups.Onegroupwillfocusonfinancialliteracyeducationforyouth.Theothergroupwillfocusonincreasingthecapacityofthosethatworkwithyouthtounderstandfinancialliteracy.Giveparticipantsabouttwominutestodecidewhichgrouptheywillbeapartof.Then,breakintotwosmallgroups.
Afterabout30minutes,bringthesmallgroupsbacktogetherandhaveeachgroupsummarizewhattheydiscussedforaboutfiveminutes.
FinancialLiteracyEducationforYouth:
Materials:None
SettingContext:Thepurposeofthisactivityistohaveafocusedconversationonfinancialliteracyeducationforyouthinanefforttobrainstormstrategies,tools,andresourcestobuildyouths’financialliteracyskills.
Directions:Askparticipants,“Whatcurrentfinancialeducationisavailabletoyouth?”Someexamplesinclude:
− GovernmentStandards− Schools− Contentstandards− Onlineresources− Communityorganizations
Askparticipants,“Whatistheroleofcommunity‐basedorganizationsinraisingfinanciallyliterateyouth?”Someexamplesinclude:
− Providingfinancialeducationforstaffandyouth− Integratingaprocesstodirectlyconnectyouthtofinancialservices(e.g.
banks,creditunions)toallowforassetbuilding− Encouragingdirectdeposit
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
Askparticipants,“Whatresourcesareavailableforyouthworkers,organizations,andyouthtotapintorelatedtofinancialliteracy?”Examplesinclude:
a. MissionSFCommunityFinancialCenterb. FeedthePig(onlinecurriculum)c. JumaVentures
WorkingwithAdultsWhoWorkwithYouth:
Materials:None
SettingContext:Thepurposeofthisactivityistoexplorehowtoeducatetheadultsaroundyoungpeopleaboutfinancialliteracy.
Askparticipants,“Whatdoyouthinkthebiggestbarrierisbetweenyouthworkersdoingfinancialliteracyworkandtheadultsthatareinthelivesofouryouth(parents,otherfamilymembers,guardians,etc)?”Someexamplesinclude:
− Notunderstandingresponsiblemoneymanagementthemselves− Theyfeelyouthdonotneedtoknowtheinformation− Feelitisobtrusive− Havebadfeelingstowardmoneyestablishments− Culturalbarriers
Askparticipants,“Howcanweovercomethesebarriers?”Someexamplesinclude:
− Holdmoneymanagementclassesforadults− Providestatisticsandstoriesaboutyoungpeopleandmoney
managementforparents− Haveparentsbeinvolvedinplanningthecurriculum
Askparticipants,“Whatsupportwillweasstaffpeopleneedinordertosupportourfamiliesinobtainingthisinformation?”Someexamplesinclude:
− Professionaldevelopment− Youthfriendlycurriculumthatisadaptabletoparents− Parentsupport
Dream–APossibleFinanciallyLiterateWorld–45minutesMaterials:Longbutcherpaper(NOTflipchartpaper),markers,coloredpencils,etc.
SettingContext:Thepurposeofthisactivityistoimaginethepossibilitiesoffinanciallyliteratecommunities.
Set–up:Spreadoutonelongstripofbutcherpaperalongawalloracrossthefloormakingsureitislongenoughforparticipantstostandorsitnexttoeachother.
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
Directions:Instructtheparticipantsthatinamomenttheywillbegoingtothewall/floortodraw,doodle,orwritedownwhattheyimagineafuturewouldlooklikewithfinanciallyliterateyouth,families,programs,andcommunities.Theycanuseanymaterialavailabletothemtocreatethisimage.Theywillhavefiveminutestostartthisvisualization.Thentheywillbegivenanothersetofinstructions.
Attheendoffiveminutes,instructtheparticipantstomovetoadifferentpartofthegraffitiwallandfindthebeginningofsomeoneelse’svisualization.Theywillhavefiveminutestoexpandonthatvisualization.
Attheendoffiveminutes,instructtheparticipantstomovetoanotherpartofthegraffitiwallandfindadifferentvisualization.Oncetheyareatadifferentspot,havethemfindapartner.Theirtaskistoconnectthetwovisualizationstogether.Theywillhavefiveminutestojointhevisualizations.
Attheendoffiveminutes,haveparticipantsswitchspotsagain.Thistimehavethemgetinquadsandconnectthevisualizations.Theywillhavefiveminutestomergethevisualizations.
Haveparticipantsstandbackandlookatthewholegraffitiwall.Givethemthreeminutestotakeitin.ThendebriefusingORID.
− OBJECTIVE:Whatdidyouinitiallyseewhenyoubeganthisexercise?Whatwordsand/orphraseswereusedwhenyoubeganconnectingvisualizations?Whatconnectionsdoyounoticeonthegraffitiwall?
− REFLECTIVE:Howdiditfeelmovingfromvisualizationtovisualization?Whatemotionscameupforyoulookingatthepossiblefuture?
− INTERPRETIVE:Whatistheimportanceofvisualizingwhatispossible?Howcanwerealizetheimages,words,andemotionscontainedinthisvisualization?
− DECISIONAL:Whatisonethingyouarecommittingtotherealizationofthisimage?
Act–ActWorksheet–15minutesMaterials:Actworksheet,evaluations
SettingContext:Thepurposeofthissectionistogetparticipantsthinkingabouthowtheywillapplywhattheyjustlearnedintheirprogram.
Directions:HandoutActWorksheettoallparticipants.Givefiveminutestocompleteworksheet.Attheendoffiveminuteshaveparticipantsshare,“OnethingIamtakingawayfromtodayis...”AND“OnethingIappreciatedabouttodayis…”.
Handoutevaluationsandthankthemforattending.
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
ACTWorksheetTodayIlearned…
OfthethingsIlearned,whatisconfirmedbypastlearningcircles,personalexperiences,formaleducation,and/orothertrainings?
OfthethingsIlearned,whatisdissonantwithpastlearningcircles,personalexperiences,formaleducation,and/orothertrainings?
WhatdoIneedtolearnmoreabout?
OfallthatIhavelearned,themostcriticalthingIneedtoapplytomyprogramis…
Thiscriticalpieceofinformation,knowledge,learningwillchangemyprogramby…
Inorderforthischangetohappen,Ineedto…
IwillknowIamsuccessfulwhen…
WhatIneedtocommunicateaboutthislearning,growth,andchangetoothersis…
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
StepOne:Thinkbacktowhenyouwere12.Wherewereyouliving?Whowasinyourhousehold?Whowereyourfriends?Whatwasmostimportanttoyou?Whatwasyourfavoritepasttime?Now,reflectonthefollowingstatementsbasedonyour12‐year‐oldself.
1. Ihavemoneycomingfromaspecificprovideronacontinuousbasis.
2. IknowwhatabudgetisandIdothemanytimemyfinancialsituationchanges.
3. Iknowwhat“bills”are.
4. Iknowwhatitmeanstohave“goodcredit”.
5. Iwantacreditcard.
6. Iknowthedifferencebetweenaneedandawant.
7. Iknowthatit’simportantnottospendmorethanIhave.
8. Iknowthedifferencebetweengrossincomeandnetincome.
9. Isaveanimpactfulpercentageofmyincomeeachmonth.
10. Iborrowand/oraskformoneymorethanIearnit.
11. Iknowwhatitmeanstogetthemostoutofmymoney.
12. Ioftensavemoneytowardsasavingsgoal.
13. Ioftencomparisonshop.
14. Igetpulledinbycleveradvertising.
15. Iknowwhatdebtisandknowhowtoavoidit.
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
16. Iknowaboutinvestmentsandhowtheywork.
17. Iknowandunderstandwhypeoplegetpaiddifferently.
18. Iknowandunderstandhowtaxesareimplementedandhowtheyaffectme.
19. Icanspeakintelligentlyabouttheglobaleconomy.
20. Iknowaboutbasicbankprocessesandprocedures.
StepTwo:Thinkbacktowhenyouwere16.Wherewereyouliving?Whowasinyourhousehold?Whowereyourfriends?Whatwasmostimportanttoyou?Whatwasyourfavoritepasttime?Now,answertheabovequestionsbasedonyour16yearoldself.
StepThree:Thinkbacktowhenyouwere21(ifyou’renotyet21,answerfortheageyouarenow).Wherewereyouliving?Whowasinyourhousehold?Whowereyourfriends?Whatwasmostimportanttoyou?Whatwasyourfavoritepasttime?Now,answertheabovequestionsbasedonyour21yearoldself.
StepFour:Reflectontheageyouarenow.Whereareyouliving?Whoisinyourhousehold?Whoareyourfriends?Whatismostimportanttoyou?Whatisyourfavoritepasttime?Now,answertheabovequestionsbasedontheageyouarenow.
StepFive:Findapartnerwhoisdone.Pleasepickafewquestionsthatinterestyoubelowanddiscussandyouranswers.Onyourowntime,reflectonalltheanswers.
1. Afterreviewingyouranswers,whatsticksouttoyoumost?2. Didmostofyouranswerschange,orstaythesameacrosstheages?Whydoyouthink
thishappened?3. Ifmostofyouranswerschanged,reflectwithyourpartneronthemomentthey
changed.4. Fortwoanswersofyourchoice,giveexamplesoftoolsyouusedatage12andage16.5. Fortwoanswersofyourchoice,giveexamplesoftoolsyouwishyouhadatage12and
age16.6. Pickaquestionwhoseanswerchangedfromage21totheageyouarenow(or16to
yourcurrentage).Whatcausedthischange?7. Whatanswersdoyouseeonthelastlinethatyouwishweredifferent?Areproudof?8. Howdidcultureandlifecircumstancesplayintoyouranswers?Ifthosethingswere
different,whatanswersdoyouthinkwouldhavechanged?9. Whatareyourtakeawaysfromthisexercise?
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
TWOSISTERS,TWOFINANCIALSTORIES
CARLA
• CarlaparticipatesayouthleadershipprogramtwotimesaweekatherneighborhoodyouthcenterfundedbyaCityAgency.TheCityAgencygetsitsmoneyfromtaxpayers.
• Shereceivesa$200stipendcheckeachmonth.• Onpayday,CarlatakesherchecktotheMoneyMartcheckcasheraroundthe
cornerfromtheyouthcenter.Shewalksoutwith$190cashinherpocketandusuallyhasabout$75leftwhenshegetshome.Shebuysherfastpass,stopsatMcDonald’s,stopsatFootLockeroranotherstoreasshemakesherwayhome.Sheusuallygiveshermother$50andkeepstherestforspending.
• Carlalovesherpaydayritualandbringshersisteralongsometimes.ShefeelsproudtobeearningmoneyandtobeinapositiontobuyhersisterMcDonald’s.
• Carla’smotherusedtobringheralongonpaydaywhenshewouldshopforgroceries,clothes,otherthingsfortheirplace,andforanafternoontheywouldfeelliketheycouldbuyanything.
FASTFORWARDto23or24year‐oldCarla
IMPACT:Financial
• Bytheendofhighschool,Carlahadspent$480oncheckcasherfees.Whenshewas18,shestartedCityCollegeandgotafull‐timejobearning$30,000topayherexpenses.ShekepttakingherchecktoMoneyMart—nowshepays$1,500peryearinfees.
• Twicewhensheneededextracash—onceforacarrepairandonceforbooksforschool—shegotapaydayadvancefromMoneyMart.Shedidn’thaveenoughtopayitoffthenextpaychecksoshepaidthefeesagain.Bythetimeshecouldpayitoff,shepaidthemback$800toborrow$325,bothtimes,foratotalof$950infeesontopofhercheckcasherfees.
• BecauseshewalkshomewithlotsofcashwhensheleavesMoneyMartandstoresitinherroom,thereisachanceCarla’smoneycouldbestolen,misplacedorlost.
IMPACT:Knowledge,practices
• Carlahasneverhadasavingsaccount,sosheisnotfamiliarwithdealingwithbanksorcreditunions.
• Carlahasneverhadacheckingaccount,sosheisnotfamiliarwithbalancingacheckbookorusinganATMcard.
• Carlaisnervousaboutgettingacreditcardandworriesthathercreditisn’tgoodanywaybecauseshewasdeniedcreditonce.
• Carlaoperatesonacashbasis,soshecannotmakereservationsonlineusingacreditcard,shecan’tbuyanairplaneticketonlineandshecan’trentacar.
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
• Carladoesn’thavesavingsgoalsbecausesheneverwasexposedtosaving,trackingexpensesorfinancialgoal‐setting.Sheismorefocusedonstretchinghermoneythroughthemonth.
ELSA
• Carla’syoungersister,Elsa,participatesinayouthleadershipprogramthatfocusesonfinancialtraining.
• Aspartofthisprogram,Elsalearnedaboutfinancialissues,andnowtrainsotheryouthfromtheneighborhoodaboutsaving,budgeting,spendingandfinancialinstitutions.
• Elsa’sprogramgaveherasavingsaccount,andtheydeposither$200stipenddirectlyintoheraccount,soshedoesn’tgetacheck.
• TheprogramElsaparticipatesinisalsofundedbyaCityAgency.TheCityAgencyreceivesitsmoneyfromtaxpayers.
• Atfirstshedidn’tlikeitbecausehersisteralwayshadacheckandsheusedtogowithhertocashitandthenspendmoneyonthewayhome.ThatishowElsathoughtitwouldbeforher.
• Insteadherprogramputsitintoheraccount.• Theytake10%outofherstipend,andputitintoalong‐termaccountthat
shecan’ttouchuntiltheendoftheprogramyear.• Attheendofherfirstyear,shehadover$100savedupandhadearned
interest,too.Sheusedthemoneytobuyacamera.
FASTFORWARDto23or24year‐oldElsa
IMPACT:Financial
• Bytheendofhighschool,Elsahadsaved$500duetoheragency’sstipendpaymentpolicy.Afterthefirstyearseeinghowthesavingsaddedup,Elsasavedmoreofherstipendtogetabettercamera.Whenshewas18,shestartedCityCollegeandgotafull‐timejobearning$30,000topayherexpenses.Sheaskedheremployerfordirectdepositandestablishedasavingsaccountsosomeofhercheckwouldgodirectlyintothesavingsaccount.Shesetagoalofsaving$2,000soshecouldbuyausedcar.
• Elsahadanemergencyexpenseandshecovereditwithheremergencysavingsfund.
IMPACT:Knowledge,practices
• Elsawasaccustomedtohavinganaccountsoitwaseasyforhertosetupdirectdepositandtwoaccountsforhersavingsgoals.
• Elsahadneverhadcreditcard,butshewasfamiliarwithbudgetingandtrackingherexpensessoshewasn’tworriedshewouldn’thaveenoughtopayherbillorwouldn’tknowhowtoreadthestatementandfigureouthowitworked.
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
• Elsaknewitwasimportanttobuildcreditsosheappliedforacreditcardthroughherfinancialinstitution.SheusedittobuyherfamilyairplaneticketsandtomakereservationsforGreatAmericaandotherthings.Elsaalwayspaidthebalanceinfulltomaintainhercreditandavoidpayingmoreinterest.
• Onceshehadaportionofhersavingsforthecar,Elsaputitina6‐monthCDbecausesheknewitwouldearnmoreinterest.
FOLLOWINGTHEMONEY:WHEREDOFEESANDDEPOSITSGO?
Whathappenstothe$10feeCarlapaysMoneyMarteachmonth?
• Theother$10endsupinBerwyn,PA—homeoftheDollarFinancialCorp,whichownsMoneyMart,LoanMartandmore.LoanMartistheirpaydaylender.
• TennesseeisthebirthplaceofpaydaylendingandisstillhometoCheckIntoCash,thethirdlargestpaydaylenderinthecountry.Itsfounder,W.AlanJones,isalongtimefriendofandcontributortoBobCorker,TennesseeSenatorandmemberoftheSenateBankingCommittee.
• CorkerwasresponsibleforsecuringanexemptionforpaydaylendersfromoversightoftheConsumerFinancialProtectionAgencyinthebillthatCommitteeChairSenatorDoddreleasedlastweek.
• Inshort,theserelativelynewcompanies(mostwerefoundedintheearly1990s,CashintoCheckwasestablishedin1993)usetheirprofitstobuypoliticalinfluenceandregulationexemptions.
Example:DifficultyGettingRateCapsforPaydayLoansPassed
• A36%ratecapforactive‐dutymembersofthemilitaryandtheirfamilieswaspassedin2006andwentintoeffectonOctober1,2007.Itwasaprovisionburiedinalargemilitarybill.TheDepartmentofDefensesoughttoregulatepaydaylenderratesformilitarypersonnelfordeploymentreasons.Highdebtcanmeanlossofsecurityclearanceordischarge.
• SenatorRichardJ.Durbin,DemocratofIllinoishasproposedextendingthiscaptoallborrowersin2008and2009.
• Currently12stateshave36%ratecaps,plusDC.InCalifornia,Lenoauthoredabillin2008thatdiedafter2weeks.In2009,billswerefocusedonmortgageissues.
WhatHappenstotheDepositsMadeatFinancialInstitutions?
WhathappenstoElsa’sdeposits?Atabank?AtaCU?
• Atabank,herdepositsarepooledwiththeentirebank’s,depositsandareinvestedinlargerenterprises—businesses,investments,maybelocally,butnotnecessarily.
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
• InaCU,Elsa’sdepositscirculateinlocaleconomy(ortheassociationmembership)—hermoneygetsloanedouttoanotherlocalpersontobuildtheircredit,theirbusiness,theirhome.
Whobenefits?
• Atabank,ifthebankdoeswell,thestockholdersbenefit.• AtaCU,iftheCUdoeswell,Elsagetsabetterreturnonhersavingsaccount
and/orlowerfees—becausesheisastockholder.
Whodecides?
• Atabank,itistheshareholdersorboardthatmakedecisions,notthecustomer.
• AtaCU,thememberselecttheboardofdirectors.Infact,Elsacouldrunfortheboard.Eachmemberhasinfluenceoverpoliciesandproductsoffered.
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
FinancialEducationResources
FinancialEducation:MissionSFCommunityFinancialCenter(415)2060846:Providesfinancialeducationforyouthandadults.Youth:YouthTrainersforEconomicPower(YTEP)providespeer‐to‐peerfinancialtrainingsforyouthgroupsaroundSanFrancisco.Adults:PathwaystoFinancialSecurity,providesone‐on‐onefinancialcounselingforpeopleinthecommunity.JUMAVentures(415)3710727:Engagesyouthinsocialenterprises,collegepreparation,andfinancialliteracywiththeopportunitytoreceivematchedsavingsscholarships.EARN–(415)2173660:Offersfinancialtrainingandsavingsprograms.CurriculumsandResources:CaliforniaJumpStart:Aimistoidentifyhigh‐qualitypersonalfinancematerialsforeducationaluse.Theclearinghouseisadatabaseofpersonalfinanceresourcesavailablefromavarietyofeducationproviderssuchasgovernment,businessandnon‐profitorganizations.http://www.jumpstart.orgAmericanPromiseAlliance:Curriculumfocusedonunderstandingfinancialterms,providesyouthanunderstandinglargerscaleimpactoftheirpersonalspending.http://www.americaspromise.org/financialresponsibilityMoneyTalksforTeens:Providesresourcesforteenstobecomemorefiscallyresponsible,including:appropriatebankingandsavingpractices,propercredituse,andemploymenttips.http://moneytalks4teens.ucdavis.edu/NationalEndowmentforFinancialEducation:Practicalresourcesandmaterialsspeciallycreatedwitheducatorsandfacilitatorsinmind.http://www.nefe.org/HighSchoolFinancialPlanningProgram:Thiscurriculumincludesstudentmanuals,aninstructor’sguide,andanumberofwebpagesthatofferalarge,continuallygrowingcollectionofresources,articles,andfinancialtoolsforteachers,students,andparents.http://hsfpp.nefe.org/home/UnitedforaFairEconomy:TheselinkswilltakeyoutoUFEworkshopmaterialsavailableforfreedownloadaswellasextendeddescriptionsandadditionalresources.Youmayalsoorderhardcopiesofallworkshopmaterials,includingfull‐sizeflipcharts.http://www.faireconomy.org/
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
MonthlyBudget
MonthlyTakeHomeIncome SecuredDebts(MonthlyPayments)
Salary/Wages/Business Draw Rent
Salary or Wages (Spouse/Partner) 1st Mortgage
Social Sercurity 2nd Mortgage
Pentions/Retirement Land Lease (Trailer Park, other)
Interest on Account Student Loans
Alimony/Child Support Auto Loans
Real Estate Rent (income) Recreation (Boat, ATV, etc)
Investment Dividends Past Due Taxes
Unemployment/Food Stamps Other Debt
Other Other Debt
TotalTakeHomeIncome Other Debt
TotalSecuredDebt
Monthly Living Expenses
Alimony/ Child Support (outgoing) Unsecured Debt
Auto Gas and Repair Credit Card 1
Auto Insurance Credit Card 2
Cable TV/ Satellite Fees Credit Card 3
Charitable Contributions Credit Card 4
Child Care Credit Card 5
Children's Activites Personal Loan 1
Clothing Maintenance (Laundry/ Dry Clean) Personal Loan 2
Clothing Purchases Medical Bill
Electric and Gas Bills Other
Food (In-home/ Groceries) Other
Food (Out of home) Total Unsecured Debt
Water Bill
LearningCircle8:FinancialLiteracyTotalrunningtime:3hours,55minutes
©2010MissionSFCommunityFinancialCenter,ChristenGray,CelinaRamos‐Castro,YouthWorker:Collective,DepartmentofChildren,Youth,andTheirFamilies
Health and Dental Insurance
Homeowner/ Condo fees Summary
Homeowners/ Renters Insurance Total Take Home (Income)
Household Items Total Living Expenses (-)
Life and Disability Insurance Total Secured Debt Payment (-)
Personal Care Total Unsecured Debt Payment (-)
Prescriptions Disposable Income
Internet Access
Property Service and Maintenance
Security Service
Subscriptions
Telephone
Cell Phone
Tuition and School Supplies
Pay Yourself First
Other Expenses
Other Expenses
Other Expenses
Total Monthly Living Expenses