Financial Education-Adults - NAACP



Financial Education-AdultsWorkshop CurriculumThe National Economics Department, NAACPFinancial Freedom CampaignProgram Outline Total Workshop Time: 90minsOverview Purpose of workshopTo provide accurate personal finance information so that attendees can make better fiscal decisionsTo facilitate constructive dialog around sensitive financial mattersTo direct participants to creditable resourcesNAACP’s Financial Freedom Campaign’s mission/ goals of implementing these program(s):To educate and empowerTo serve as advocatesTo build capacityBenefits of attending this workshopAccess to accurate information Opportunity to ask questions of an expert Access to local and national resourcesOpportunity to network with other people of similar backgrounds, etc.Ice Breaker Do you track your money? Activity Participants will provide an estimated percentage of where their income goes on a monthly/yearly basis. A short discussion will be had about the importance of knowing your spending patterns, etc.Personal Finance: FundamentalsSection 1:Banking BasicsWhat is Credit?Where does one get Credit?What are the various forms of creditFinancial Institutions Credit Unions; Banks: etcSection 2: Developing a Spending PlanWhat is a spending plan?How do I develop a spending plan?Identify financial goalsIdentify IncomeTrack your spendingEvaluate your income v. spendingSet Savings GoalsSection 3: Managing Debt & CreditTips on improving your credit scoreNew overdraft rules for debt and ATM cardsOrganizational tools to help you manage your debt/creditActivity: Scenarios- Participants will evaluate the fictional incomes, spending patterns, and budgets of fictional characters and assess whether or not that character is financially stablePlanning for the FutureSection 6: Saving and InvestingA closer look at 401k, Roth IRA’s, Investment PortfoliosBasic Investment and Savings tipsSection 7: Getting InsuredWhat is Insurance?Why is it important?Basic types of insurance:Homeowners insuranceRenter’s InsuranceAutomobile insuranceTips for purchasing insuranceSection 8: Know Your RightsThe latest credit card policiesKey consumer advocacy policies you should know aboutKey Consumer financial privacy lawsSection 9: Scams/FraudsWhat are the most common scams/fraudsTips on how to protect your financial informationActivity: (Self Assessment) Participants will write down five things they will incorporate into their personal finance plan as a result of attending the workshopAsk the Expert General questions Participants write questions down on slips of paper, only those questions are answered)ClosingThank everyone for coming (including expert)Remind people to complete evaluation formRemind People to take home folders/packets and utilize information______________________________________________________________________________________Notes for Trainer Length: 1 hour 30 mins Probing Questions:Do you know how much you spend each week/month?Have you compared your monthly income to your monthly expenses?How do you decide what to spend on?Do you have a plan for saving and spending money?Learning Objectives:By the end of this workshop, participants will learn:Develop financial goalsDevelop a financial plan for the futureHave the tools necessary to make better financial decisionsKey Activities/Quizzes:ScenariosSelf Assessments Materials & PreparationIncluded in each folder:PowerPoint Presentation PrintoutNote pad Handouts (Resource information)WorksheetsWorkshop Evaluation FormExpert ‘s Business Card ................
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