ROAD TO RICHES PERSONAL FINANCE INTRODUCTION
BY CRYSTAL EVANS & FRIENDS
FOR AGES 10 +
FINANCIAL LITERACY FOR TEENS
PARENT & TEACHER GUIDE
CREATED & ILLUSTRATED BY Crystal Evans Laja Shoniran Dotun Ibiwoye Margaret Spiller
Contributors & SPONSORS Jack Horchar Ricci Horchar Russell Hicks Nahjee Grant Barbra Chavous Tiffany Chavous Somerset Academy Early Learning Center Insight to the Light TV with Ebony Suns Centennial Parkside CDC More Than A Sport, Inc
All Rights Reserved By ELBWDA P.O BOX 2815 One Union Ave Bala Cynwyd, PA 19004
WWW.MONEYTALKS.EDUCATION ISBN: 9781087853758
2019
HELPING END
POVERTY PARENT & TEACHER GUIDE
Y E N O M TALKS ROAD TO RICHES
ACKNOWLEDGEMENTS
After attending a National Small Business Association White House Briefing in 2013, Crystal Evans, Money Talks Edu's Founder, was inspired by the United States 44th President Barack Obama to implement creative ways to empower children through financial literacy.
Since she has spent several years surveying men, women, children, educators, and numerous professionals, and  found that regardless of age and ethnicity, each person agreed that personal finance-focused curriculums are inaccessible. Not well-publicized, and rarely funded federally by the U.S Department of Education, and is a related cause to the economic disparities across the country.
To help raise awareness about the need for financial literacy curriculums to be nationally mandated throughout grades 5-12. Community Leaders, Parents, and accredited educators helped her published Money Talks Edu's "Financial Literacy Guide for Parents and Educators."
Activities are designed to engage both parents and children in lesson objectives. Topics focus not only on the value of money, the use of money, but the importance of fundamentals of Personal Finance, Banking, Credit, Taxation, and Entrepreneurship. Thus, strengthening the child's money management skills and financial decisionmaking capabilities, leadership skills, and other qualities that will be useful in their adolescence years into their adulthood.
The Money Talks Platform has been highlighted by State Representative Joanna McClinton's Economic Empowerment and Entrepreneurship Seminar in the 191st Legislative District and supported by Somerset Academy of Southeastern Pennsylvania Early Childhood Coalition and the Centennial East Parkside Community Development Corporation.
Special Thanks to Dotun Ibiwoye, Laja Shoniran, Mrs.Barbra Chavous-Pennock, Jack Horchar, Ricci Horchar, Margaret Spiller, and Ebony Suns Enterprises, LLC for their commitment to promote valuable financial foundations in early education.
Lesson 1Â
Poverty and Socioeconomics Lesson Objectives: Students will be able to introduce proactive solutions to help end generational poverty by making money through their choice of work, career, vocation, and entrepreneurship.
Define Various Types of Poverty Define Socioeconomics Explore Career Paths, Requirements and Salaries
ESSENTIAL QUESTIONS 1.Can you define the various types of poverty? 2. Can you define socioeconomic? 3.What is your dream occupation? 4.What is the level of education needed for your dream occupation, and what the annual income?
VOCABULARY Hardship Income Occupation Percentage Poverty Salary Socioeconomics
ACTIVITIES Invite the children to select one of the listed occupations and write down the level of education needed to get the job and let them share their thoughts. Ask students to share how they will stay on track and reach their career development goals.
6
WHAT IS
P O V E R T Y ?
POVERT IS THE STATE OF BEING
EXTREMELY POOR
7
10
11
WILL YOU GO TO
COLLEGE TO EARN A WHAT WILL I BE WHEN
DEGREE? I GROW UP?
Socioeconomic status is an economic measurement of an individuals employment history or their family's economic and social position in relations to others, based on income, education, and occupation.
When considering career opportunities, think about the level of education needed to qualify for the position and where the annual salary will position you amongst the socioeconomic classes listed below.
UPPER INCOME
Annual Salary of $100,000 Air Plan Pilot, Financial Advisior Software Developer, to $349,999 with a Graduate or Masters Degree Lawyer, Chief Executive, Physician
MIDDLE INCOME
Manager, Nurse, Journalist, Accountant, Salesperson, Teacher, IT Professional, Police Officer, Teachers
LOWER-MIDDLE INCOME Secretary, Teacher, Driver, Construction Laborers, Chefs, Lab Technician
Annual Salary of $50,000 to $100,000 with a Bachelors Degree
Annual Salary of $35,000 to $59,000 with a Diploma or Degree
LOWEST INCOME Cashiers, Servers, Hosts,
Annual Salary of $0 to with a GED or Homecare Aides, Dishwasher, $31,000 Diploma
Janitor
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DOCTOR MONEY TALKS
C A R E E R G O A L S Make opportunities
Take the next step. HOW WOULD YOU DESCRIBE YOUR FUTURE SOCIOECONOMIC STATUS?
JOURNALIST WRITE DOWN THE HIGHEST LEVEL OF EDUCATION YOUR DREAM JOB REQUIRES YOU TO COMPLETE, AND WHAT THE ANNUAL SALARY WILL BE?
LAWYER
16
ENTREPRENUER
CONSTRUCTION ENGINEER AIRLINE PILOT
MONEY TALKS
WHAT IS FINANCIAL LITERACY
Lesson 2 WHAT IS FINANCIAL LITERACY? Lesson Objectives: Students Financial
will
be
able
Literacy
and
to
understand
how
they
can
learned money management skills
the
concept
improve
of
their
through financial
literacy.
ESSENTIAL QUESTIONS 1.What does
financial literacy mean to you?
2.Can you explain how financial literacy will help you manage your personal finances? 3.
How can you prioritize savings?
4.
Are we able to make responsible decisions that are integral to our
everyday lives? 5. Can you separate “Wants” from “Needs”?
VOCABULARY Budget Decision Financial Literacy Impulsive Planning Prevent Profitable Strategic
ACTIVITY 1.What does
financial literacy mean to you?
2.Can you explain how financial literacy will help you manage your personal finances? 3..What are some good ways to handle your finances? 4. What are some bad ways to handle your finances?
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POVERTY "I'M
RISING
THROUGH
ABOVE
FINANCIAL
POVERTY LITERACY!"
HOW DOES FINANCIAL LITERACY WORKS IN THE REAL WORLD? Financial Literacy allows me gain a better understanding of economic principles and concepts that help me make smart financial decisions and encourage rewarding financial habits.
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Lesson 4 HOW TO READ & WRITE A CHECK Lesson Objectives: Students will be able to identify parts and functions of a check. Name and Address of Payor Check Number Date Pay to the order of Numeric Box Written Amount Bank Name and Address Memo Signature Account Number Routing Number
ESSENTIAL QUESTIONS Â
1.How are checks used? 2.List each part of the check 3.What is the difference between Payee and Payor ?
VOCABULARY Account Number Routing Number Check Number
ACTIVITY 1. Demonstrate your
36
ability to fill out a check.
HOW TO WRITE A CHECK Fill in the blanks using the answer key below
Payor
Name __________________________ Address ______________________ __________________________________
Payee
Your Bank Address City, State 12345
Memo_____________________________
Signature_____________________________
Answer Key: Name: Barack Obama Address: 1600 Pennsylvania Ave NW, Washington, DC 20500 Check Number: 000 Date: October 2, 2022 Pay To The Order Of: Department of Education Numeric Amount : $5,000.00 Written Amount: Five Thousand Dollars Memo: 2020 Financial Literacy Workshop Routing Number : 000000000 Account Number: 0000000000000
37
Lesson 6 INVESTING 101 Lesson Objectives: Students will be introduced to various longterm investment options.
Stocks Bonds Mutual Funds IRA 401K Pensions Annuities
Â
ESSENTIAL QUESTIONS 1.What is the difference between Stocks, Bonds and Mutual Funds? 2.Define Dividends, Principal and Shareholder. 3.What are the various retirement options?
VOCABULARY Shareholder Dividend Principal
ACTIVITY 1. Choose three retirement options that you believe will benefit you and discuss why you think these options will help your retirement strategy.
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START INVESTING YOUR MONEY G N I T S INVE
1 0 1
EARN INTERES T! BONDS,
STOCKS, MUTUAL FUNDS
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VOCABULARY
GLOSSARY
P PAYEE
PROFIT
A payee is a person to whom money is paid or is to be paid, especially the person to whom a check is made payable.
Profits are gains in money or property after expenses are taken out.
PAYOR Payor is the person who takes care of all the household bills.
PERCENTAGE A percentage is a number or ratio expressed as a fraction of 100.
POST DATE To postdate a check date with a date later than that of execution.
POVERTY
Profitability is when a corporation can make money after all expenses and liabilities are paid.
PROJECTIONS Projections are estimates of an individual or business future income based on a current trend
R RATIO
Poverty is the state of being extremely poor.
Ratio is the relationship in quantity, amount, or size between two or more things
PREVENT
ROUTING NUMBER
Prevent to keep from happening or existing.
A Routing Number is the nine-digit number given to all financial institutions for their personal identification
PRIME RATE Prime Rate is the degree at which banks offer favored customers loans for mortgages, business, credit cards, etc.
94
PROFITABILITY
VOCABULARY
GLOSSARY S
U
SALARY
UTILIZATION
Salary is a fixed income paid to a person from their employer.
Utilization ratio is a measurement that calculates the available credit limit to the credit used to make purchases.
SALES TAX Sales Tax is an omposed tax by our government for the sale of products and services
SIMPLE INTEREST
V VALUE
Simple Interest is the easiest way to calculate money charged for taking out a loan; multiplying the interest rate by the days it will take to pay the money back to the lender.
Value is the price, benefit, or position in contrast with something else.
SOCIOECONOMICS
VARIABLE RATE
Socioeconomic status is an economic measurement of an individuals employment history or their family's economic and social position in relations to others, based income, education, and occupation.
Variable interest rates are used for loans such as adjustable rates mortgages and may increase or decrease daily, monthly, quarterly or annually. Variable rates are difficult to incorporate into budgets and can become extremely expensive.
STRATEGIC PLAN A strategic plan is worked out in advance for achieving an objective in the future.
STRATEGY A strategy is an actions taken to increase income to corporations
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ROAD TO RICHES PERSONAL FINANCE INTRODUCTION
BY CRYSTAL EVANS & FRIENDS
FOR AGES 10 +
FINANCIAL LITERACY FOR TEENS
PARENT & TEACHER GUIDE