Keeping Track

Building a Financially Capable Generation Foundational Session

Teo, Douglas Xi Ze
Wu, Elida Yue
26 May 2022
  [tell your story]
More  [educational and career path]
About Me  [experiences with money, good and bad]
  Learn & have fun: activities
 Help each other; work in groups
 Participate in the class; raise your
Ground Rules hands
 Be respectful
 Take turns
Tent Cards
My Name
 Financial Capability
Over the course of this foundational session and
follow-on innovation challenge we will increase our knowledge of
money, see the value in managing money proactively, and
recognize how our
attitudes and beliefs impact
our ability to make money management
decisions that fit our life.

What is Financial Capability?

 INTRODUCE YOURSELF
 First names only
 Share one thing you are good at
and enjoy doing

More About You MONEY MATTERS?

 Using a scale of 1-5 (1 being not important at all, 5 being the
most important), tell me:

 How important is money to

your future?
 Money Talk
Knowledge, skills, and personal
experiences give us confidence to face new
situations. Basically, the more we understand
something, the more likely we are to enjoy it.
 ASK STUDENT VOLUNTEERS TO:
 Share something they are good at and
enjoy doing
 Explain how much they know about the
topic and describe their experiences.
Money Talk
IT IS THE SAME WITH MONEY.

 The more we know about and talk about money−positive ways to earn
it, how to spend it wisely, and
how to save it−the more confidence and control we have over our lives.
 Distribute a Student Toolkit to each student

Student
Toolkit
(Handouts)
 Turn to Money Management in the
Student Toolkit handout.

Money
Management
(Handout)
 DESCRIBE SOMEONE WHO IS
GOOD WITH MONEY
 Use words or phrases even sketches to describe this
person
 Consider people you know, fictional characters from
Money movies of books, or people in the news

Management  Think about what these people do, say, their skills and
attitudes
 What influences them?

TEAM DESCRIPTION

 Combine the information into one description

1. Independently  Consider the consistencies, differences, possible experiences, and personal influences when

2. In a group creating the team description.

 TEAM DESCRIPTIONS REVIEW

Use these questions to review the descriptions:

 What are the consistent words used to describe
Money good money managers?

Management  What do good money managers talk about?

 What mistakes do they avoid?
 How do they handle emergencies?
 Do they save money? Do they use financial
institutions? Why or why not?
 TEAM DESCRIPTIONS REVIEW

Together categorize the team descriptions:

Collaborate  Which words or phrases describe knowledge? What
and a good money manager knows?

Categorize  Which words or phrases describe a person’s skills?

 Which words or phrases describe attitudes and/or
beliefs?
 Relationships (personal and online) and influences?
 GROUPS TO SHARE

Describe someone who is good at managing money.

Money Write on the board the words describing someone who

Management is good at managing money.

 Tracking Money
Developing good money management skills starts with
accurately tracking money (income and expenses). Good
money management skills enables self-confidence and
encourages positive relationships.

What is Tracking Money?

 INCOME AND EXPENSES
 What is income?
 Money earned or received, including wages or
gifts.
 What is expense?
 Money spent to buy or do something. Expenses
Keeping include things we need, things we want, and things
for our future (savings).
Track
KEEPING TRACK HANDOUT
 DIRECTIONS
 Read about Bo, a 13-year-
old from Indonesia. Use
the sample budget to track
her income and expenses
to learn if she has enough
money to cover her trip to
Bo’s the city.

Budget  If her earnings do not

cover her expenses, her
budget will make it easier
to identify which expenses
to cut when everything is
listed together.
 Bo’s
Budget
 SAMPLE BUDGET

Bo’s
Budget
 SAVING AND BUDGETING
 Use a budget to track your income and expenses.
 Use a budget to plan for spending and saving money.
 Use a budget to easily identify which expenses to cut
Money Talk: since everything is listed together.

Why MONEY TALK QUESTIONS:

Keep Track?  Why do people track money?
 How does tracking income and expenses benefit us
now, later, and on our way to getting where we want to
go financially?
 WHAT DO YOU THINK WHEN YOU HEAR,
“MANAGE YOUR MONEY”
Money Talk:  Deciding what to buy

Manage 
Figuring out how to buy what I want
Saving

Your Money 

Tracking
Earning
 spending

COMPLETE THE SENTENCE:

PEOPLE MY AGE SAVE TO…
 Saving Money
People save for several reasons. Most reasons fall into
one of three categories:
 Personal use (clothes, entertainment, subscriptions)
 Emergencies
 Opportunities (assets like a vehicle, education/training,
or investments-starting a business)

Why people save money?

 STAND UP:

PERSONAL USE
Why do YOU
save?
EMERGENCIES
Top Priority

OPPORTUNITIES
 STAND UP:

PERSONAL USE
Why do YOU
save?
EMERGENCIES
2 Priority
nd

OPPORTUNITIES
 STAND UP:

PERSONAL USE
Why do YOU
save?
EMERGENCIES
3 Priority
rd

OPPORTUNITIES
 PERSONAL EMERGENCY OPPORTUNIT
Y
1
Why do YOU
save? 2

3
 Saving Goals
A goal is something you want to achieve. We set goals
every day. For example, a goal might be to do well on
test, visit a relative weekly, or even get more sleep. A
saving goal refers to your reason for saving money.

What is Saving Goals?

 Read each persona and be prepared to talk about what you learn.

GOALS
(personas
handout)
 NATALIE AND ADAM
 These personas represent students from Hong Kong
and Malaysia. Although Natalie and Adam might be
from different parts of the world, do you recognize
any similarities in their experiences to your own?
Money Talk: Any differences?

Personas  How does a person’s life circumstances impact their

attitudes toward money?
 Do you believe Natalie and Adam’s short-term
goals are possible? Can they be accomplished in
weeks or months?
 Which savings goal will take longer (long-term goal)?
MY GOALS
(handout)
 MY GOALS
 Are most goals short-term or long-term?

Money Talk:  Which are the consistent short-term goals?

 Which are the consistent long-term goals?
My Goals  What was challenging about this activity?
 Review what was discussed including:
 How the group described someone who is good with
money, and the mistakes people make with money.
 Why tracking income and expenses is key to good
money management.
 Why it is difficult to make spending choices.
Reflection  Why tracking income and expenses is helpful for
budgeting.
 People save for three reasons including personal use,
emergencies, and opportunities.
 Money Talk is a part of our everyday life. The more we
talk about money and learn from the experiences of
others better we become at keeping our emotions in
check and taking control of our money.
  Promote the “Money Talks” podcast! Help young
people build confidence and achieve their money goals
while creating a safe and open environment to talk
about money.

Innovation  The Challenge! Develop a marketing campaign to

promote ‘Money Talks’ showing how it can improve a
Challenge user’s financial success regardless of their
circumstances.
 Consider the following questions:

• What is needed for users to recognize and use the ‘Money

Talks’ Platform to create meaningful engagement and
support for young people making their way to being
financially capable.
• How can you make the podcast attractive and engaging for
Innovation multiple audiences?
Challenge • What forms of media would you use to get the message out
to adults?
• What strategies would you use to encourage participation
and seek contributions to the platform?
• How can we encourage conversations about money
between adults and young people?
• What can adults do to help young people build confidence
and feel good about managing money?
• What can adults do to help young people set and achieve
their financial goals?
 5 minutes Presentation

 A. Innovation and Creativity: Quality of the solution. Is

the solution innovative and creative? Is it original?

Innovation  B. Presentation Quality: Delivery technique. Is the

presentation engaging? Is the solution clearly presented
Challenge – using accurate and engaging visual aids?
Judging  C. Solution Feasibility: Implementation. Is the

Criteria innovative solution sustainable? Is it replicable and

possible?
 D. Teamwork: All team members participate. Is it
evident everyone was engaged and having fun throughout
the challenge?
 Innovation
Challenge –
Presentation
Certificates
 Thank you
for participating!