Financial Literacy Education Plans: Ideas and Resources for your Agency


>>Good afternoon. I am Luke Reynolds, Chief of Outreaching Program
Development at the Federal Deposit Insurance Corporation. Our goal today is to share a few information
on some free financial education resources from the Federal Deposit Insurance Corporation
that can be resources for your agencies, employees, and we hope can be useful as part of your
agency’s work, life, and benefits programs. The program today, I’m going to speak very
briefly to just share with you a little bit about why FDIC is here. Then, Bobbie Gray, Supervisor Community Affairs
Specialist will go through the Money Smart Program in detail. Finally, Robin Pool from our Benefits Team
will talk a little bit about implementation. Just quickly to make sure we are all in the
same page, the Federal Deposit Insurance Corporation is the federal agency that insures your deposits
at FDIC Insured Financial Institutions. The common misconception is that we insure
banks. We don’t insure banks. We insure your deposits and financial institutions. We also have a function where we assist consumers
who may have a complaint or concern about how a bank handled their account, or loan,
or application. In addition, economic conclusion is a priority
so that we can maximize the public’s confidence in using insured financial institutions. It may surprise you that more than one in
four people in the US are either unbanked or underbanked. These are people who either do not have a
checking account or savings account at all or who do, but still routinely use check cashers
and payday lenders. The data significantly increases among certain
demographic groups particularly including income and race. Financial education is important. There are many–this is Financial Literacy,
Financial Capability Month. Many of you may have already heard by now
why it’s important, but I just wanted to make–just cite a couple statistics. One study by the FINRA Foundation found that
majority of people who are shopping for a credit card do not compare credit card offers
and we know that comparison shopping is, generally speaking, the best way to get a deal on pretty
much anything including the credit card. Also a study from the National Foundation
for Credit Counseling found that majority of Americans do not have a spending plan and
I should just cite, “Just recently I became aware of a study that had shown many Americans,
particularly middle income Americans, were living beyond their means. There is certainly a need for greater financial
education.” I mean, talk about one point and show a slide
presenting the same concept three different ways because there are different ways at looking
at this. Economic–financial education is really the
foundation for a lot of things. It’s a foundation for people to have a–just
to save money in a bank. It’s a foundation for being able to obtain
a good mortgage loan. It’s a foundation perhaps for an entrepreneurship
venture a person maybe taking on. It is–it is the first step. It’s a foundation. It helps people in a lot of ways. It helps people have a better relationship
with a banker or credit union. It helps people be able to be a better borrower
when it comes time to buy a home or perhaps refinance a mortgage. And we have data that shows what–that Money
Smart really–and financial education really can have a positive impact on how people manage
their finances. We conduct along a triennial evaluation which
basically means we measured how people said that they manage finances before they took
Money Smart and after the Money Smart training and then a year later. And generally speaking, consumers who took
Money Smart showed significant improvements in paying bills on time. For example, having a bank account and saving
money. FDIC, this is–the FDIC has had Money Smart
program in existence for 15 years. We’re celebrating our 15-year anniversary
this year of Money Smart. FDIC and the US Office of Personnel Management
are both members of the Financial Literacy Education Commission, FLEC. FLEC is the federal body that is responsible
for developing the National Financial Education strategy and helping agencies develop better
collaboration and the coordination among federal efforts. As part of that effort, FLEC has a strategic
folder–focus in starting early for financial success. And one of the aspects of that, that we’ll
talk about a little bit earlier–a bit–a little bit later, is encouraging employees
who are newer to federal service be more likely to participate in savings plan. I’m going back a few years, it’s hard to believe
it’s already been I guess eight years, the FDIC and the Office of Personnel Management
cite a member out of understanding to facilitate our work together to help share Money Smart
tools with federal employees. As part of that, the FDIC and OPM have worked
together to for example conduct trainer to trainer workshops or retrain agency staff
on using Money Smarts, become webinars, this is a couple examples. What we do–what the FDIC does is we provide
the curriculum. Bobbie is going to talk about the curriculum. We provide the curriculum. We provide resources and success stories,
examples of what it can be used. We want to hear questions so that people have
about the materials as they use them. Money Smart Alliance Program is the way that
we recognize organizations including other agencies. For example, over the years we facilitated
collaborations with agencies such as US Department of Housing and Urban Development, the Internal
Revenue Service, CFPD, Veterans Administration, just in addition to OPM, this is a few examples. Now, we’re going to turn over to Bobbie Gray. Bobbie Gray is the Supervisory Community Affairs
Specialist at the FDIC in Washington. Her staff enhanced the Money Smart program
and other financial capability initiatives in addition to conducting outreach and training
to promote these resources. Her team also manage National Money Smart
Collaborative Relationships. Bobbie trains others on how to teach financial
education. She serves as a representative to the Financial
Literacy Education Commission. Her past experience including–includes working
as a Human Resource Specialist in the areas of training career management and mentoring. She attended Howard and Strayer Universities
major in accounting. She holds a trainer certificate from the Graduate
School, USDA and has been a recipient of numerous FDIC awards. Bobbie?>>Good afternoon. What is FDIC Money Smart Program? Money Smart was created by the FDIC as a financial
education curriculum that provides information in basic financial services about money management
skills. Since the Money Smart program was created
in 2001 more than 932 copies have been distributed. More than three million consumers have been
trained and we have partnered with more than 12,000 collaborations with our Money Smart
Alliance. Money Smart was also recognized as being an
outstanding financial education curriculum when the FDIC received a prestigious Service
to America Award. Findings from a longitudinal survey of consumers
who have taken the FDIC’s Money Smart Financial Education Program showed that training can
positively influence how people manage their finances. And so, we hope that Money Smart will be one
of the resource tools that you offered to your employees as they set their retirement
goals. Why is Money Smart unique? It is available in nine languages. It is available in a variety of formats. We have copies for visually impaired in large
print. It is available as self-paced a product as
well as instructor-led. There are no licensing or copyright restrictions. So, you can adapt it for the needs of your
audience. For example, if you’re setting up a lunch
and learn, you could use information from a credit module along with perhaps savings. It’s done–designed–it was originally designed
for unbanked consumers, those without a financial institution relationship, and what we call
our underbanked, those who have a bank account, but they also use finance–alternate financial
services. It’s easy to learn and everything that one
needs to teach it is there. So, what are the Money Smart lessons? The instructor-led module that’s available
that one can teach is the Money Smart for Young People, pre-K through 12, Money Smart
for Young Adults, Money Smart for Adults that was also written on a 6th to 8th grade level
so that it would be easy to understand, Money Smart for small businesses, for–we have collaborated
with the small business administration, Money Smart for older adults, and then we have self-paced
modules that employees can work on at their own pace, you can link–have a link on your
website to our computer-based instruction which I’ll show a little bit later, and then
we have our MP3 version, Money Smart Podcast Network, and that’s for consumers on the go. Again Money Smart is available–very–it’s
all free and then available in several formats. Here’s a look at the Money Smart Webpage and
so that you’re able to access the resources. As you can see it’s in order as I just spoke
it. Teaching Money Smart so the–that’s going
to be your instructor-led resources, and then a little further down you’ll see Learn Money
Smart, that’s the self-paced computer based instruction which is based on the Money Smart
for Adults and Money Smart for Young Adult modules, the Money Smart Podcast Network or
MP3, and then there are some additional resources such as our Money Smart News, our electronic
newsletter, and the alliance member list that Luke mentioned earlier. So, let’s talk a little bit about the instructor-led
modules. Each module is structured identically. As I mentioned everything you need to teach
it is there. I’m going to show you an example in a few
minutes. The modules can be taught in any order or
combination. You can teach portions of each modules. It’s very flexible. I’ll show you a layering table that’s available. And as I mentioned, we have a variety of formats. So, there is also available, large print and
braille. So, what topics are covered in the Money Smart
for adult program? The first one is Bank On It, Borrowing Basics,
Check It Out, Money Matters, Pay Yourself First, Keep It Safe To Your Credit, Charge
It Right, Loan To Own, Your Own Home, and our most recent module that came as a result
of feedback from practitioners in the field is Financial Recovery. And we’ll take a little in depth at financial
recovery as an example of how the modules are laid out. Again, you can see the nine languages that
are available, and the formats, instructor-led, and self-paced. So, what’s in the instructor guide? The module content is available in a layering
table. Each one has an icon guide, module overview,
activities, the content that will be covered, summary, and post-test, an evaluation form,
and a glossary. So, as I mentioned earlier, each module is
structured the same. So, here’s an example of an instructor guide
for Module 11: Financial Recovery. So, it’s available as a downloadable, and
for those areas that don’t have access to a computer they can get it on a CD. So, this is the Financial Recovery module,
instructor guide. So, we’ll take a look at the layering table. So, as you can see, the layering table tells
you where to–what pages to find information, approximately how much time it will take topics
that will be covered, subtopics, and any activities. If you can look down to step one under pages
15 through 20, time 30, evaluate your current financial situation, you’ll see that there’s
going to be an activity one, monthly income and expenses. And then it gives you a target audience. And of course, as I mentioned these are adaptable,
so you could add additional information if you find–you need something addition for
your target audience. So, let’s take a look at the Participant Resource
Guide. Again, everything is there for the participants. Information and activities to help learn the
material, they’ll–there are tools and instructions for them to complete activities. They will also have a glossary of terms and
additional resources for information. So, let’s take a quick look at a Participant
Guide. So, again it’s available as a downloadable
or on a CD. We mentioned that there were pre and post-test. So, in the instructor guide, you will have
the correct answers. So, you may use a pre-test as an icebreaker
in a workshop or perhaps you’re trying to find out from employees what they’re–what
topics they’re interested in covering. So, you may send out some of the questions
from the pre-test to see how financial savvy that they feel they are. Okay. So, I’m going to go back to the–tell you
about the top–the objectives and topics that are covered in the Money Smart for Adult modules. So, as I mentioned, Bank On It is the first
one. This one covers the basics of banking. Five reasons to use a bank, descriptions of
what finance–ensure financial institutions are. There’s comparison charts. So, even though employees maybe familiar with
banking, sometimes we also need to conduct a financial checkup, and make sure those financial
institutions that we have are right for us. So, maybe they can also use some of those
comparison charts. The second one is borrowing basics. It describes how credit works and it helps
individuals determine if they are ready to apply for credit. They will define credit and loan. Distinguish between secured and unsecured
loans. Describe how to guard against predatory lending
practices. Explain why an installment loan cost less
than rent-to-own services. This one includes a practice exercise on borrowing
money responsibly. A checklist for a person to walk through before
applying for credit to help them understand the questions, the creditor will ask. So, perhaps you could do a role play with
this protect–pick–particular exercise. Check It Out. So, Check It Out is one of the longer modules. It was expanded to discuss how to open a checking
account, and then the maintenance of account. And so, here electronic banking will also
be covered. So, it’ll go from opening to reconciling and
using a–the proper use of a debit card. Money Matters. The Money Matters module shows individuals
how to manage their money by preparing a spending plan and identifying ways to decrease spending
and increase income. So, they’ll create daily–they’ll track their
daily spending habits, prepare a personal spending plan or budget, and estimate month–monthly
income and expenses. List and prioritize financial goals, recognize
how to create a plan to achieve financial goals. Pay Yourself First, why is that important? Pay Yourself First helps students identify
ways to save money and introduces saving options that can be used to save towards financial
goals. Explain–the objectives include explain why
it’s important to save, determine goals toward which you want to save. Recognize investment options that will work
for you. Determine which savings options will help
you reach your savings goals. List ways to save for retirement. List ways to save for large expense goals
including college tuition, car, home purchase, or that much needed vacation. Keep It Safe. Keep It Safe provides information on how students
can protect finances indemnity. The students will learn how to recognize federal
deposit–how federal deposit insurance protects deposits. How to guard against identity theft. Recognize how the various types of insurance
help to mitigate risk. Discussion of needing to plan for unexpected
death or disability. Describing ways to plan–be prepared–financially
prepare for disasters. This class takes two hours. It could be divided into two one hour-sessions
such as a lunch at learn. Perhaps you’ll conduct a series. Module 7 is to your To Your Credit. So, this one discusses the credit report. How to build and repair credit history. So, at the end of these modules, individuals
will have defined credit, explain why credit is important, the purpose of a credit report,
and how it is used, their exercises around breeding and analyzing a credit report to
determine if you’re ready to apply for credit. Identify ways to build and repair a credit
history. Again, recognize how to guard against identity
theft. Module 8: Charge It Right. Charge It Right discusses using credit cards
responsibly. Determining which credit card is best suited
for you. So, again there are comparison charts and
exercises around using credit. Identify steps to take when a credit card
is lost or stolen. So, here are modules where you may collaborate
with others and have a guest speaker to come and talk about credit and credit cards. Module 9 is Loan To Own. This module gives general information on installment
loans such as car loans and home equity loans. It identifies factors used, lenders use to
make home loan decisions. It explains federal laws that protect you
when you are applying for a loan. Questions to ask when purchasing a car. Why it is important to be wary of rent-to-own,
payday loan, and refund anticipation services. Explain how to guard against predatory lending
practices. Handouts include auto financing and home equity
loan tips. Your Own Home. So Your Own Home has also been revised to
speak to the pre and post-homeowner. So, I’ve purchased my home so there are things
I need to do in order to maintain it. And then, the first part focuses on, “Am I
ready to purchase a home?” So some of the topics covered are explaining
advantages and disadvantages of renting versus owning, questions to ask to determine your
readiness to buy a home, steps required to purchase a home, and how interest rate affects
the amount of house you can buy, explain how taxes and insurance affect a monthly payment,
and the amount of house you can buy. For the homeowner, describing the advantage
and disadvantage of borrowing against a home, explain what to do if you have troublemaking
mortgage payments, describe the different types of refinancing options. It also includes a mortgage lending worksheet. So again, you can comparison shop for a mortgage
loan based on factors such as terms and fees. And so finally, our Module 11 is Financial
Recovery that I mentioned. So with Financial Recovery, I’m going to actually
show you some of the components of the module. So again, when you download it, this is what
you’ll receive and these are the objectives, so you’ll receive the presentation slides. So these are the objectives of the module. The next thing, it starts out with a warm-up. What do you want to know or what do you know
about Financial Recovery? So here, you can use this as an icebreaker
for your workshop. Then the first activity is around steps to
Financial Recovery. Evaluate your current situation, developing
a plan, implement, and evaluate, and adjust if necessary. So the module will take you through all these
steps. And so again, there’s a layering table. So if you don’t have time for all four, you
can decide what it is most important for your workshop. So here’s another example of a slide. So, it also talks about one of the things
when you are discussing Financial Recovery. So this is targeted to those who have suffered
a loss of income for some reason and on–or trying to recover their credit, like, once
again. So one of the things after you’ve assessed
your situation to find out where do you begin, you get a copy of your credit report. So how many of you listening to me today know
that you can order a free credit report from each credit bureau once every 12 months through
www.annualcreditreport.com. And so as practitioner sometimes, we suggest
that maybe you stagger once a quarter and then so you’re always checking your credit
report. So, after you’ve gone through the entire module,
you have a conclusion slide that tells the class what you’ve talked about today, so they
develop the plan, prioritize spending, and tips on how to rebuild credit and avoid credit
repair scams. Money Smart for young adults. The topics are similar except for the last
two, paying for college and cars, shares information around college financing, and we collaborated
with the Department of Education, they shared information around pay–financing college. And a roof over your head is similar to your
own home, but it talks to students about their first time leaving home. It’s available in two formats, instructor
led and self-paced. Our most recent curriculum that was released
last year targeted to educators. But for the first time, we have a Parent and
Caregiver guide that I’ll show in a few minutes. It’s called Money Smart for Young People. It covers grades pre-K through two, three
through five, six through eight, and nine through twelve. So again, there’s something for everyone. The educator, again, it’s setup similar to
the other instructor-led curriculums, everything one needs to teach, it is there. There are exercises that has students also
going to the web to conduct some research. There are overheads, there’s a student guide,
and as I mentioned for the first time, conversation starters and activities for parents so that
the parent who isn’t as comfortable starting conversations about money with young people
are able to do that and then they can also reinforce lessons that might be learned in
school. And so, here’s an example from one of the
Parent and Caregiver guides. Again, it talks about what is Money Smart
and then it’s centered around five themes that Luke will discuss a little later. But theme one was around Earning, two, Spending,
Save and Invest, Borrow and Protect. So I would encourage you to download a copy
of the Parent and Caregiver guide and take a look at some of the lessons that are there
for young people that you–to discuss about money. These resources can be found on our website,
fdic.gov/education, we collaborated with the Consumer Financial Protection Bureau in this
Money Smart for Young People and improving the finances of youth as Luke discussed earlier. And so, we can also–you can find resources
for parents on their website, consumerfinance.gov/parents. And you’ve heard me mention the word “collaboration.” Collaboration is key. It helps you reach your audience. You can call in those experts depending on
topics that you want to cover, so we collaborated again with the–I’m going to call the Consumer
Financial Protection Bureau, the CFPB, and we created the Money Smart for Older Adults. And this one raises awareness among older
adults and their caregivers on how to prevent elder financial exploitation. This is available in an instructor-led format. It’s available in English and Spanish and
it encourages advanced planning and information, inform financial decision making. Here are some of the objectives of Money Smart
for Older Adults. So many of us may be caring for loved ones
or managing the money of someone else in our family or a close friend, but this particular
module discusses how to protect them from financial exploitation. So here are some of the topics. Some common types of financial exploitation
is identity theft, we here it on the news every day, medical identity theft, scams their
target homeowners and then just planning for unexpected life events. How do I access it? You can go to www.fdic.gov/moneysmart or you
can also go to consumerfinance.gov/older-americans. Okay? And finally, you heard me mention collaborating
with the small business administration. We created the Money Smart for Small Businesses
and most recently launched three new modules. And this particular small business is a instructor-led
training curriculum for–targeted to new and aspiring entrepreneurs on the basics to organizing
and managing a business. And so we have, in partnership with the small
business, an alliance partners who actually conduct training, those who specialize in
small business training. And so there, you can see the topics of Money
Smart for Small Business. So I mentioned the various formats that Money
Smart was in. And so here’s the self-paced modules. So Money Smart, the computer-based instruction
can be supplemental to instructor-led–again, you can link it on the website so it can be
used as a standalone. It follows the Money Smart for Adult and Money
Smart for Young Adult tracks. They receive–individuals receive certificates
of completion. It’s available in English and Spanish. And here’s a quick look at the web-based–login
webpage and so everyone that uses the Money Smart CBI would have to have a login. They can login as an individual and then some
organizations if they are tracking a class will give them a unique login and they all–but
everyone has to create a username and password. And again, this is available on a CD for those
without access to a computer. So this is just an example of the topics and
how you can access them. Okay? And it’s in a gain format, so this one is
setting financial goals. And then the other self-paced module that
I discussed was our Money Smart Podcast Network suitable for any portable audio player. It can also be listened to online. This is for the individual on the go. This is short segments of the same type of
information broken down into four categories, the Basics of Banking, Checking Accounts,
Savings and Spending Plans, and Borrowing Money. Now, Luke will give implementation tips.>>Good afternoon again. I’m going to speak briefly to offer a few
tips to consider as you reflect on what we just talked about and think about how you
might be able to use it. We often get asked, “How do we actually–how
should we actually use Money Smart?” So, we–we’ve learned about the curriculum,
we know what it is. What would we do next? Well, we also–often also get asked what is
effective. The general account–the USGAO, Government
Accountability Office issued a report a few years ago that gave what they view as promising
program–promising elements of effective financial education programs. First, content that is relevant to the target
audience, people need different information at different times at their lives. They can–they can–in another way, information
you may provide to people preparing for retirement is completely–maybe completely different
than those who are just entering the workforce. Second, delivery methods that are appropriate
for the audience or topic, information that is appropriate to the target demographic. As Bobbie mentioned, Money Smart does not
have any copyright restriction, so it’s freely adaptable. It could be reverted, it could be edited,
it could–examples can be added to make it as appropriate to the target audiences as
needed. And then GAO also noted that young adults
sometimes prefer to receive financial education over the internet. GAO also mentioned that programs should be
accessible to the population they seek to serve and offer them ways that are convenient
to the target audience and materials provided that are culturally sensitive. As GAO has reported many times, cultural differences
can play a role in financial literacy and the conduct of financial affairs. Use of partnerships is also viewed as promising. Programs should ideally be sustainable, they
should be able to be built into a–into an agency or into an organization’s ongoing operations
so that they can outlast any one individual who may be their champion. As I mentioned a little bit earlier, the Financial
Literacy and Education Commission consists of more than 20 agencies, I think right now,
22 Federal agencies working on financial education efforts. There was–there’s been an effort underway
within FLEC to encourage and help agencies work on ways to promote people who are newer
to the federal workforce and help promote and form participation and retirement plans. The GAO also released a report last year on
the role of the workplace. There–they had a form, they issued a summary
of the form as well as a report that was 20 or 30 pages. Many of the tips and ideas in the report are
not new–not new or not necessarily novel, but they do still have some insights including
thinking about ways to reach underserved populations. Also, the Financial Literacy and Education
Commission had a public meeting in 2013 focused just on the workforce. A summary of that meeting is available on
the Financial Education–Financial Literacy and Education Commission’s website. This is why I’m just going to jump ahead and
talk a little bit about some of our resource–other resources. Money Smart news is a quarterly publication
that provides success stories and ideas and new updates to Money Smart. It’s free to subscribe to Money Smart News,
only comes out four times a year. We have one success story in Money Smart News
on ways financial education is delivered in the workforce and we mentioned federal workforce
and it’s part of that success story. We would love there to be more success stories. So if you use Money Smart or you use Money
Smart in the future and you think it’s working well, you think it’s successful, please send
us a note. We may be able to highlight your agency’s
work to provide for financial education and Money Smart News. The other benefit to subscribe in Money Smart
News is any time we update a Money Smart version, you learn about it. For example, we have a quarterly consumer
news that provides money saving tips and advice and every Money Smart News edition highlights
what’s in that consumer news. The Financial Literacy and Education Commission
website, mymoney.gov, is the one stop shop to get financial education resources from
across federal government. So Money Smart is one educational resource. There are other resources that are more specialized
on specific topics such as homeownership, or Overdraft Protection Programs, or entrepreneurship,
MyMoney is the place to go to find those resources. Consumer news, as I’d mention a little bit
earlier, it’s a quarterly publication. It’s, again, free to subscribe to, it’s electronic
that has practical articles for consumers and the articles could be searched or categorized
by different life events, so there’s articles for parents, for seniors, for young people. There’s articles for pertaining to your different
types of deposit accounts, like maybe you think it’s time for a new checking account
or a new–maybe you’re considering a certificate of deposit, things to think about as you’re
shopping for an account or maybe you have a trouble with a loan or you have a credit
issue or your credit score isn’t where you think it should be, there’s articles to give
you ideas of where to go next. And again, the website is FDIC.gov/consumernews. To recap what I–so why don’t I just pause
here and see if there are any questions? Again, you could find on the screen how to
send in questions. Do we have any questions so far?>>We have–we have three. If we want to use–if we want to use the Money
Smart and start–Money Smart tool instructor-led, how do we go about setting this up and is
there a key for this service?>>That’s a really good question. Money Smart–first of all, Money Smart is
free. There is no charge to order or use Money Smart. Now, depending upon how you use it, you may
incur some cost, like if you want to provide printing copies to all employees, naturally,
there’d be printing costs. But FDIC does not charge nor do we accept
any money for the Money Smart program. The way to get started, I think, would be
to go on to FDIC.gov/moneysmart, Bobbie showed up on the screen a link of where you would
go to order it, so again, FDIC.gov/moneysmart. You can–from there, you go to our online
ordering portal, you–for the adult, assuming–so maybe you’re looking to teach it to others
or have workshops for others, from that website, you can either download or you can order a
CD with the instructor-led Money Smart curriculum. It is available for free. If you’re looking to perhaps include it on
an agency website or link to it as a resource, you can simply link to it. I mean, we have–we have sample language. We can give you if you want some language
to introduce it, but that’s just simply adding a weblink. Hope I answered that question. And If I–if I ever answer a question–if
I ever think I answered a question and there’s still a question remain or I misunderstood
the question, please ask it again.>>Can someone in FDIC train the person that
[inaudible] seminar?>>Yes, the FDIC has periodic Train-the-Trainer
sessions. We have quarterly Train-the-Trainer webinars. In fact, we just had one about a week and
a half ago. You can find on our website when the next
one is scheduled. We do a periodic in person Train-the Trainers. Again, periodic in person Train-the-Trainers. So when we get a request for Train-the-Trainer,
then the sure answer is yes, but we suggest first doing is look at Money Smart, every
copy of Money Smart includes a guide to presenting Money Smart. This is a 10 to 12 page document that really
is intended for those who are teaching Money Smart for the first time. It’ll orient you to the curriculum. It gives you best practices for teaching and
accommodating the curriculum for persons with disabilities. That’s the first step. If you still think some additional training
would be helpful, we have on our website, on demand, on our YouTube channel, free Train-the-Trainer
videos. These are about 40 minutes and these Train-the-Trainer
videos introduce those who are going to be delivering the materials or using the materials
to their curriculum. If you still find something to be help–additional
to be helpful, consider one of our Train-the-Trainer webinars. It’s really an extended [inaudible] today,
we walk through the materials, we walk through the modules in a little bit more detail. If it is–if you have a group of staff, usually,
we have a minimum about 15, so if you have a group of staff who are going to deliver
the training, who are going to be using Money Smart, you can certainly reach out–reach
out to us, engage with us and we can discuss if our resources permit coming to out to do
an in person Train-the-Trainer workshop which are usually about four to six hours long.>>Can we post information on our [inaudible]
internet and let the employees take the courses on their own?>>Definitely. We see that done a lot. You can–you can link to the Money Smart computer
based instruction, the CBI, you can link to the Money Smart Podcast Network, you can link
to the Money Smart Parent-Caregiver guides. And definitely, people are free and encouraged
to link to each of those from our website.>>Do you have a recommended budgeting tool
preferably free of charge that you can recommend?>>Recommended budgeting tool, that’s a really
good question. In our Money Matters module for instructor-led
Money Smart curriculum for Adults, we outline various ways, some–I think we have three
or four sample budgeting techniques people can use. We do not specifically recommend or reference
any particular software program, but there are software programs out there for that purpose. We just not mention them. Our goal with our Money Smart program is really
to open people’s eyes and help them see some various ways to budget in that Money Matters
module and then they could see what may work best for them or maybe there’s a software
option that will work well for them.>>Okay. Excuse me. We have another question. Does Money Smart have any modules on “Are
you financially ready for retirement?”>>That’s a good question. We do not have any modules specifically on
financial readiness for retirement. We do have modules that could help a person
get there though, modules that help a person–help a person get their finances in order, but
Money Smart is really a basic curriculum for those who are–do not have a bank account
or who have a very weak connection to banking system, those who may just need a basic overview
of how to create a spending plan or budget. There are a lot of great resources on topics
such as retirement. I cannot immediately recall if there’s an
agency that does, but checking mymoney.gov would be a good first step to see what else
may be out there.>>That’s all I have at the moment.>>Great. And just a reminder to send in an–send in
an email, send in the question, you email it to…>>[email protected]>>To [email protected] We’ll just pause. Also, just–I’ll just leave you with this
screen, catalog.FDIC.gov is the place to order the Money Smart curriculum that I was talking
a little about–a little about earlier. Again, [email protected] for any questions. With that, I think we are ready to conclude
our program. Thank you so much for your time today. Now that the webinar is over, if you have
any questions about Money Smart, please send them to [email protected] Again, [email protected], any questions,
whatsoever you may have about the Money Smart program. Thank you so much for your time today.

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