BM 418 Day 25 Notes and Objectives
Sudweeks
Fall 2009 November 30, 2009
Winter 2010 April 1, 2010
Introduction
Welcome to class
Its good to be here today
Day 25 Objectives
Family 2: Teaching Children Finance
A. Understand the importance of teaching your children about personal finance
B. Understand some thoughts on how do you teach children financial responsibility
C. Understand some thoughts on when do you teach children financial responsibility
Family 3: Preparing for your Children’s Education and Missions
A. Understand the importance of how education relates to your financial goals
B. Understand the Priority of Money for financing school
C. Understand how to reduce the cost of education
D. Understand how to prepare for and finance your children’s education and missions
Non-teaching activities
Financial Plans are due next Thursday
Active Learning Strategies
Teaching financial Responsibility (Stories: 1. Puppies, 2. Natalie and shoes 3. Laura tithing)
Ask: Problems: What are the problems in teaching Financial Responsibility?
Write answers on HALF the center chalk board
Read: 10 Things to Teach Your Kids About Money (Motley Fool)
Ask: Principles: What are the Principles of Teaching Kids Finance?
Write answers on first board
Ask: Recommendations: How were you taught financial responsibility?
Write answers on HALF the board
Ask: How should you teach financial responsibility: Show kids the tithing spreadsheet
How did your parents teach you financial responsibility? (5 min.)
Preparing for Missions and Education
Discussion: How Important is Education? – (3 – slide 3)
Ask: Problems: What are the problems of Not Preparing for M/E?
Write answers on OTHER HALF center board (5 minutes)
Ask: Principles: What are the Principles of Preparing for both?
Write answers on OTHER HALF first board (8 minutes)
Ask: Recommendations: How did your parents prepare you?
Write answers on board (8 minutes)
Ask: Is there a Priority of Money for Education and Missions?
What should that priority be? (3 – slides 14-18, 32-33)
PowerPoints: What are the Different types of vehicles for education
Blackboard: list vehicles (3 – slides 34-44)
Go thorough PowerPoint vehicles
PowerPoints: What are the different types of vehicles for missions?
Go through the PowerPoints (3 – slide 47-49)
Ask: How do you develop a mission and education plan for your children?
Write on the board. Tell story of Laura and Art Institute
Notes:
Winter 2010
I started with stories of the teaching kids finance: the puppies and Natalie saying scared and buying shoes, and Laura on new job. I then asked what the problems were when kids are not taught. I read the 10 things to teach you kids from Fool.com, then went into problems, principles and recommendations. I divided into groups, and had each group give three problems, principles and recommendations, and wrote them down. I then went and showed the money made from education, and then talked about the problems of not preparing for kids missions/education, the principles, and the application. I went through the Priority of Money for Education, just the key numbered areas, then I went through the PowerPoints on the different education vehicles. I finished with the importance of an education/mission plan for their kids which included accumulation (saving) and distribution (giving it to them). Reviews: 4,6,6,6,6,6,7,7,7,7,8. I need to work on this section more.
Fall 2009
I started with stories of the teaching kids finance: the puppies and Natalie saying scared and buying shoes, and Laura on new job. I then asked what the problems were when kids are not taught. I read the 10 things to teach you kids from Fool.com, then went into problems, principles and recommendations. I divided into groups, and had each group give three problems, principles and recommendations, and wrote them down. I then went and showed the money made from education, and then talked about the problems of not preparing for kids missions/education, the principles, and the application. I went through the Priority of Money for Education, just the key numbered areas, then I went through the PowerPoints on the different education vehicles. I finished with the importance of an education/mission plan for their kids which included accumulation (saving) and distribution (giving it to them). I shared our plan and then invited comments from other students. Reviews: 6,8,8,8,8.
Spring 2009
I started with stories of the teaching kids finance: the puppies and Natalie saying scared and buying shoes, and Laura on new job. I then asked what the problems were when kids are not taught. I read the 10 things to teach you kids from Fool.com, then went into problems, principles and recommendations. I divided into groups, and had each group give three problems, principles and recommendations, and wrote them down. I then went and showed the money made from education, and then talked about the problems of not preparing for kids missions/education, the principles, and the application. I went through the Priority of Money for Education, just the key numbered areas, then I went through the PowerPoints on the different education vehicles. I finished with the importance of an education/mission plan for their kids which included accumulation (saving) and distribution (giving it to them). I shared our plan and then invited comments from other students. Reviews: 8.
Winter 2009
I started with stories of the teaching kids finance: the puppies and Natalie saying scared and buying shoes, and Laura on new job. I then asked what the problems were when kids are not taught. I read the 10 things to teach you kids from Fool.com, then went into problems, principles and recommendations. I divided into groups, and had each group give three problems, principles and recommendations, and wrote them down. I then went and showed the money made from education, and then talked about the problems of not preparing for kids missions/education, the principles, and the application. I went through the Priority of Money for Education, just the key numbered areas, then I went through the PowerPoints on the different education vehicles. I finished with the importance of an education/mission plan for their kids which included accumulation (saving) and distribution (giving it to them). I shared our plan and then invited comments from other students. Reviews: 7,7,7,8,8,8,8,8,8,8.
Fall 2008
I started with stories of the teaching kids finance: the puppies and Natalie saying scared and buying shoes. I then asked what the problems were when kids are not taught. I read the 10 things to teach you kids from Fool.com, then went into problems, principles and recommendations and wrote them down. I then went and showed the money made from education, and then talked about the problems of not preparing for kids missions/education, the principles, and the application. I went through the Priority of Money for Education, just the key numbered areas, then I went through the PowerPoints on the different education vehicles. I finished with the importance of an education/mission plan for their kids which included accumulation (saving) and distribution (giving it to them). I shared our plan and then invited comments from other students. I need to spend less time on the problems/principles/recommendations and eliminate the Custodial Accounts. Reviews: 6,6,7. (I spent too long on PPR)
Spring 2008
I started with stories of the teaching kids finance: the puppies and Natalie saying scared and buying shoes. I then asked what the problems were when kids are not taught. I read the 10 things to teach you kids, then went into problems, principles and application and wrote them down. I then went and showed the money from education, and then talked about the problems of not preparing for kids missions/education, the principles, and the application. Then I went through the PowerPoints on the board the different vehicles. I finished with the importance of an education/mission plan for their kids which included accumulation (saving) and distribution (giving it to them). I shared our plan and then invited comments from other students. I need to spend more time talking and less time fishing for answers. Reviews: 7.
Winter 2008
I started with stories of the teaching kids finance: the puppies and Natalie saying scared and buying shoes. I then asked what the problems were when kids are not taught. I read the 10 things to teach you kids, then we went into problems, principles and application and wrote them down. I then went and showed the money from education, and then talked about the problems of not preparing for kids missions/education, the principles, and the application. Then I went through the PowerPoints on the board the different vehicles. It seemed to work well. I finished with the importance of an education/mission plan for their kids which included accumulation (saving) and distribution (giving it to them). I shared our plan and then invited comments from other students. Reviews: 8,6,8,6,7.
Fall 2007
I started with stories of the teaching kids finance: the puppies and Natalie saying scared and buying shoes. I then asked what the problems were when kids are not taught. Then we went into principles and application and wrote them down. I then went and showed the money from education, and then talked about the problems of not preparing for kids missions/education, the principles, and the application. Then I went through the PowerPoints on the board the different vehicles. It seemed to work well. I finished with the importance of an education/mission plan for their kids which included accumulation (saving) and distribution (giving it to them). I shared our plan and then invited comments from other students. Reviews: no score.
Spring 2007
I started with the article about Materialism and Marriage. I then asked what their parents did to teach them finance, and wrote it on the board. I then asked about principles for teaching kids and wrote those down. I then went and showed the money from education, and then talked about how their parents saved for their educations, if they did. And went into principles. Then I went through the PowerPoints on the board the different vehicles. It seemed to work well. I need to add ideas from previous classes on ways parents helped save for kids educations and missions. Reviews: 6,6,7.
Winter 2007
I started with the email of the wife who was concerned about the husband’s spending, and asked what they should recommend. I then asked what their parents did to teach them finance, and wrote it on the board. I then asked about principles for teaching kids and wrote those down. I then went and showed the money from education, and then talked about how their parents saved for their educations, if they did. And went into principles. Then I wrote on the board the different vehicles. Next time I will use the PowerPoints to address the vehicles. It seemed to work well. Reviews: 8,7,7.
Fall 2006
I started with President Monson’s talk from the devotional with the three gates: preparation, performance and service. We talked about those. Then we went into the principles of financing education, and how important those were. I really hadn’t added them before, but I think they are important. Then we went into the different vehicle of financing education, and we talked about those. We then went into preparing for the next exam, and I got through 2 questions. Reviews: 5 (tough audience today)
Spring 2006
I started with the newspaper article, and talked about the importance of planning for your kids education. I reviewed the exam preparation, and then talked about the priority of money for education. Then we went into the different vehicles for savings for kids educations. Then I dismissed the class, and 90% stayed and we answered questions regarding the upcoming exam. The questions were good.
Winter 2006
I started with the newspaper article, and talked about the importance of planning. I reviewed the exam preparation, and then talked about the priority of money for education. Then we went into the different vehicles for savings for kids educations. Then I dismissed the class, and 90% stayed and we answered questions regarding the upcoming exam. The questions were good.
Fall 2005
I started with financing education, and what the prophet said. Then we went into the priority of money for education. Finally, I ended with what you can do to save money for your children’s educations, and shared what we have done as a family. Then I dismissed the class, and did a review for those who wanted to stay. Reviews: 7.
Spring 2005
I started with the quiz, and a newspaper article, then went into the presentations. I added a section on Loan consolidation, as interest rates are likely to rise soon. Marilyn Miner added that section, and I appreciated it. I let the class out early. No reviews.
Winter 2005
I started with the quiz, then went into the objectives and salaries. We talked about the priority of money for education on the board briefly, then talked about the vehicles and assets for savings for your kid’s education on the board. We finished with the review for the mid-term exam which I separated out for the first time. Reviews: 7
Fall 2004
I started with talking about looking for money, and then went into the priority of money for financing education. WE wrote a number of ways on the board, then went and talked about each of them. I added the notes on how to teach and answer case study questions, and then commented about the phone call yesterday. I need to update the material from the spreadsheet into the PowerPoints, but its not working. I added more problems after class. Reviews: 6,7,7