The Financial Literacy – Money Trek workshops are designed to teach high school and college students basic personal finances. This A to Z of personal finance will illustrate ways to navigate through different stages of their lives and outline how to make critical personal financial decisions. Money Trek consists of six+ modules accompanied by a handout/workbook which includes examples and exercises, as well as lists of other resources.
Each module can be presented to students based upon their age, knowledge and understanding of the subject in approximately sixty to ninety minutes. The material covered is relatively basic. The length of the modules will vary depending upon the amount of information covered and the interest level of the specific groups. The modules are designed to be presented in pairs.
- The workshop overview provides an overview of the program and can be presented to AAUW Branches and IBCs.
- Modules 1 & 2 can be presented to high school students to lay the basic knowledge of: Budgeting and Banking.
- Module 3 & 4a and 4b are for students entering into the college, to teach them about: Credit and Borrowing, and How to Pay for College.
- Module 5 & 6 are for students in the last two years of college when students learn how to: Save, Invest and perhaps begin to think about Buying a Home.
The following is a brief outline of the modules, and a list of the subjects that are included. Each module is presented in a PowerPoint format, with accompanying talking points, examples and exercises.
Workshop Overview and Instructor Support Materials
- Click HERE to download an overview of the Money Trek Workshops (PDF).
- Click HERE to download presenter recommendations.
- Click HERE to submit a report of Money Trek presentations given.
Module 1: Introduction to Money Management
- Setting financial goals
- The budgeting process – creating a budget
- Keeping track of income and expenses
- Managing money
- Balancing income and expenses
- Budgeting tools
Module 2: Banks & Checking Accounts
- Types of banks and how to choose a bank
- Checking and saving accounts
- Checkbooks, deposit slips and ATMs
- Balancing a checkbook
- On-line banking and bill paying
- Keeping track of your bank account
Module 3: Credit Cards & Debit Cards
- The difference between credit & debit cards
- Types of credit cards
- Choosing a credit card
- The real cost of credit
- Requesting and reading a credit report
- Balance transfers, APRs, and fees
- Credit Do’s and Don’ts
Module 4A: Financial Aid & Student Loans
- What college costs
- How America pays for college
- Types of grants and scholarships
- Federal student loans
- Module 4A Training – PDF
Module 4B: Borrowing and Credit
- What is credit and how does it work
- Importance and cost of credit
- Types of loans, FICO scores and credit reports
- Four C’s of credit- capacity, capital, character and collateral
- Advantages and disadvantages of credit
- Managing debt
Module 5: Saving and Investing
- Difference between saving & investing
- Setting saving and investing goals
- Savings accounts, Money Market accounts, and Certificates of Deposit
- The power of compounded interest
- Stocks, bonds & mutual funds
- 401(k) and IRAs
Module 6: Renting & Buying a Home
- How to rent an apartment / sign a lease
- Sharing costs with roommates
- Tenants rights and responsibilities
- Renting v/s buying
- Cost of owning a home
- Cost of a mortgage and how to obtain it
These presentations should be considered a starting point. Students will be provided with a list of additional resources and material which they may continue to explore on their own. Ideally, the workbook will include exercises and helpful hints they can also reference later. Depending upon the interest of the audience and the facilitators, additional follow-on workshops may also be scheduled to expand on specific subject areas.