766 Old York Road

Jenkintown, PA 19046

Phone: (215) 635-1025   Fax: (215) 782-8933

Copyright © 2015 · The G.E.T. Financial Education Center · All Rights Reserved

Our Programs: Financial Literacy (Youth)

 

Money Smart for Young Adults

Purpose of the Program:

The Financial Literacy For Youth Program is one of five programs provided by the G.E.T. Financial Education Center. The objective of the program is to help younger individuals build financial knowledge, develop financial confidence, become more savvy, and use banking services effectively. We believe that financial education fosters financial stability for both individuals and for entire communities. The more people know about credit and banking services, the more likely they are to make informed decisions on money matters, save money, and improve their financial health and well-being.

 

Program Objectives:

To reach these objectives, the G.E.T. Financial Education Center will implement The Federal Deposit Insurance Corporation (FDIC) financial education program called Money Smart for Young Adults. This program was created to help young adults learn the basics of handling their money and finances, including how to create positive relationships with financial institutions.

 

Overview of Money Smart Curriculum and Modules:

The curriculum consist of materials, activities, and content geared towards the junior high and high school audience. Money Smart for Young Adults is split up into eight modules that focus on different aspects of banking and money matters, such as:

 

  • Bank On It

The Bank On It module teaches about banking basics. Students learn the types of financial institutions, why people use banks, and the fundamentals of using bank accounts. This module also covers additional banking services that a bank might provide and the functions of bank personnel so that when the time comes, the students have the tools they need to begin a relationship with a bank.

  • Check It Out

The Check It Out module helps students understand checking accounts. They learn how checking accounts work: what fees they charge, how to open an account and how to maintain it.

  • Setting Financial Goals

The Setting Financial Goals module shows students how to manage their money by preparing a personal spending plan, differentiating wants from needs, and identifying ways to decrease spending and increase income.

  • Pay Yourself First

The Pay Yourself First module helps students identify ways they can save money and introduces savings options that they can use to save toward their goals.

  • Borrowing Basics

The Borrowing Basics module explains how to use credit appropriately and determine what forms of credit best suit the students' needs.

  • Charge It Right

The Charge It Right module teaches students about credit cards and how to use them responsibly.

  • Paying for College and Cars

The Paying for College and Cars module provides general information on installment loans, including car loans and student loans.

  • A Roof Over Your Head

The A Roof Over Your Head module gives students the information they need to make informed choices about renting their first apartment. It will also review the basics of getting a mortgage, and help them make decisions and answer questions to determine their readiness to have a space of their own.

 

The modules are designed to be presented in separate sections generally taking from 60 to 120 minutes to present. Instructional strategies used to present the content include lecture, demonstrations, large and small group discussions and activities. The materials needed to effectively present each module are:

 

  1. Either an overhead projector, computer, and the PowerPoint file for each module or the overheads printed on transparency paper and an overhead transparency projector
  2. Chart paper and easel
  3. Colored markers
  4. Tape or push pins
  5. A participant guide for each student
  6. Pens or pencils

 

Program Goals:

Upon completion of the eight modules, students will have the knowledge and resources they need to confidently use the services and products of financial institutions such as banks, credit unions and savings and loans. They will be able to create and implement a budget and distinguish between "wants" and "needs." Show the ability to use credit and borrow money responsibly and to protect their financial rights and safeguard their money.

 

The student's progress will be calculated from the results of a Pre and Post Test. The pretest will be approximately 5 to 10 questions at the beginning of each module to see what the student's already know about the upcoming material. Following the completion of the module the post-test will be the exact same 5 to 10 questions and will be able to gage what the student's have learned from the information presented in the module. With the help of the FDIC, GETDC is dedicated to helping participants overcome financial obstacles and move forward on the path of wealth building and financial prosperity.

 

 

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