financial literacy programs for teens

FINANCIAL LITERACY PROGRAMMING FOR

TEENSJamie Beckman & Karen Steinberger

Carmel Clay Public Library

August 26, 2013

Background Information• Received financial literacy grant from the

FINRA Investor Education Foundation in partnership with the American Library Association

• Smart Investing @ Your Library® funds efforts to provide library patrons with effective, unbiased financial education resources

• Money From A to Z is the financial literacy initiativeof the Carmel Clay Public Library

Goals for YA

• Teens can (& will want to) use what they learn right away

Practical and Relevant

• Teens are excited to attend on their free time

Social and Fun

• A signature program library staff can reuseon a regular basis with only slight adaptations

Wise Use of Library Resources

Quality Financial Literacy Programs for Teens in Grades 6-12

• DIY Holiday GiftsAnnual

• Board GamesPassive

• Dine on a DimeMonthly

Teaching Teens about MoneyProgram kickoff November 2011 • Still going strong in 2013

Annual – DIY Holiday Gifts

Hot Cocoa Cones

Holiday Poppers

Tissue Paper Gift Bows

Sock Snowmen

Printz Charmings

Duct Tape Lanyards

Spend less this holiday season by handcrafting personalized gifts for family and friends!

HOLIDAY GIFTBUDGET WORKSHEET

Side 1

• Cost comparison between store-bought gifts and DIY alternatives

Side 2

• Steps to shopping on a budget• Form to plan and track spending

Holiday Gift Budget Worksheet

Passive – Board Games

Monthly – Dine on a DimeTreating Yourself – and Your Wallet!

Learn the secrets of making your favorite treats at home for a fraction of restaurant prices.

Inspiration and Details

Last Wed. of each month

Drop in anytime• School year 3:30 – 5:00 pm• Summer 12:30 – 2:00 pm

Staffing• 2 Librarians• 6 Teen volunteers

Financial Literacy Tools• Collectible recipe card• Bookmark• Book display• Board games• Financial Football web-based game

http://www.practicalmoneyskills.com/games/trainingcamp/

• The SUCCESS Program by James Langford ofFinancial Education Solutions

Supports Indiana Academic Standards

The SUCCESS ProgramFinancial Education Solutions

10-part series: videos • activities • lesson plans

by James Langford

Example of Key Concepts: Debt

“Debt is money owed to someone else.”

“The total cost of the loan varies with the interest rate and the length of the loan.”

“You never take out a loan for something that you consume—period!”

From the SUCCESS Program by James Langford

Recipes that worked for us!

Bubble Tea Milkshakes

Chocolate Strawberries Nachos

Coffee Drinks Retro Drinks

Cookie Decorating Slurpees®

Cupcake Decorating Smoothies

Edible Arrangements® S’mores

Hot Chocolate Sundaes

Italian Sodas Sweet Tea

Average AttendanceDine on a Dime doubles & triples participation

Min Max Other Series Programs

DIY Holiday Gifts

Dine on a Dime

0

10

20

30

40

50

60

5

25

15

26

51

Expected

Actual

Survey

Says…

“Fun•Delicious•Informative”

“Helpful class”

“It was awesome! I have been looking forward to this all month!”

“Making frappuccinos is easy”

“Will def. use the recipe card in future.”

“Homemade = Cheaper”

“Do again!”

Name one thing you learned today

Average Ratings out of 5 Possible Points

4.7 Enjoyed making recipe

4.3 Plan to use this idea to save money

4.1 Plan to try recipe at home

4.1 Learned about cost of groceries

3.2 Noticed interesting book on display

3.2 Learned something from video

75 Respondents named a financial literacy concept• out of 192 surveyed participants during first 6 months• open-ended question!

Other Outcomes

• CommunityPartnership

• VolunteerOpportunities

• Connecting with non-library users

• Marketing YA programs, services & collections

Tips and Tricks• Money Smart Week: April• Cookbook: Top Secret Recipes• Blenders: get some – worth it!• Ice Cream– Walmart & Target brands = good– Soften for 30 minutes– Put carton in large bowl for less mess

• Marshmallows: get one bag halal• Music: Support high school radio stations– WHJE 91.3 FM celebrating 50 years on the air!

Resources• Carmel Clay Public Library “Money from A to Z”

http://www.carmel.lib.in.us/smartinvesting/

• FINRA Investor Education Foundationhttp://www.finrafoundation.org/

• Indiana Academic Standards: Financial Literacyhttps://learningconnection.doe.in.gov/

• Money Smart Weekhttp://www.moneysmartweek.org/

• Smart Investing @ Your Library®http://smartinvesting.ala.org/

QUESTIONS?

Jamie Beckmanjbeckman (at) carmel.lib.in.us

Karen Steinbergerksteinberger (at) carmel.lib.in.us