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JA Finance Park Volunteer Training:

JA Finance Park Volunteer Training

Here is what the students will experience::

Here is what the students will experience: Get a job and a family situation Determine Net Monthly Income (NMI) Calculate guidelines and balance a budget Make spending and saving decisions Track the value of a stock portfolio Pay bills Most of the visit is about budgeting.

Your role for the day…:

Your role for the day… Provide adult experience relating to spending decisions Help with calculations and critical thinking Monitor student progress and keep them on task Remember: This day is about the students getting hands-on experience with budgeting!

JA Finance Park Map:

JA Finance Park Map

Volunteer Tools:

Volunteer Tools Bin of materials on each table in business Volunteer Manual Stage-by-stage instructions Answers for student worksheets Calculators for students to use Pencils with erasers Extra forms JA staff members will be on hand to help and answer questions all day.

Volunteer Manual:

Volunteer Manual Instructions for each stage Answers to student worksheets More about that later Examples of special worksheets

Volunteer Checklist:

Volunteer Checklist Located in Volunteer Manual Broken into 4 sections based on the 4 stages of the day Use to help you follow along through the day and keep students focused on their tasks

Four main parts to the day…:

Four main parts to the day… The visit day is broken into 4 stages The Truth Revealed The Big Search The Budget Puzzle The Final Commitment JA staff member will explain the directions to the students prior to each stage.

Students should arrive with nametags:

Students should arrive with nametags When The Truth Revealed presentation is done, students will go to their home businesses to begin Have students find materials with their account number Business Assignment Account Number

1. The Truth Revealed:

1. The Truth Revealed Students (at their workspace in businesses) Receive their Life Situation debit card Calculate Net Monthly Income (NMI) Calculate Budget Guidelines Volunteers Help with directions and keep students on task Help with math (addition, subtraction, division, multiplication, percentages) Verify student work using answer sheet in your Volunteer manual Students will get acquainted with the financial and family situation of their character.

Student’s Materials:

Student’s Materials JA Finance Park™ Name ____________________ Business _________________ Account # ________________ In their home business, students will find: Portfolio (folder) with four main worksheets for day Life Situation Debit card Job Description Students should put their names on everything, including Debit card!

Job Description:

Job Description Students do not work this job on visit day Their job is to balance a budget Provided to help them understand their income amount

Student Checklist:

Student Checklist Students should pull this out to start Follow directions for each stage Check-off items as they are completed When everything checked off, student is done with stage

Log-in Screen:

Log-in Screen Student enters Account Number and PIN from Life Situation Debit card Type their name Confirm that name is correct That’s it for computer during this stage!

Life Situation Debit Card:

Life Situation Debit Card “Life Situation” is located on the back of Debit Card Students use this information to get started with income and budget guidelines calculations. Later, they will use this information to make decisions about how they will spend their income.

Net Monthly Income (NMI):

Net Monthly Income (NMI) Start with information from the Life Situation debit card Calculate Gross Monthly Income Deduct monthly taxes Add Lucky Chance Card amount Arrive at Net Monthly Income ( NMI ) Use Volunteer Manual on table to confirm NMI

Checking Student’s Work:

Checking Student’s Work In Volunteer Manual, look for NMI Verification page (it’s the same color as the student worksheet) Match student’s account number with their NMI It must be exact If student didn’t hear their Lucky Chance Card called, you’ll need to give them the amount

Guidelines and Actual Budget:

Guidelines and Actual Budget Use NMI to calculate range for spending later Only calculate Minimum and Maximum amounts Amounts calculated as percentage of NMI (Steps 1 & 2 only = columns 1 & 2) Do not complete Step 3 Use Volunteer Manual to check, if necessary Round figures to nearest dollar!

Checking Student’s Work:

Checking Student’s Work Look for sheet with student’s NMI Spot-check their work Notable missteps: Multiplying 3% as .3 (it should be .03) $2337 x 3% $2,337 x .03 = $70.11 Rounding $70.11 rounds to $70 $350.55 rounds to $351

The Truth Revealed: Wrap-up:

The Truth Revealed: Wrap-up Remind the students to complete everything on their checklist

2. The Big Search:

2. The Big Search Students (roam around park) Collect option sheets from each business Begin Personal Investment Report (stock portfolio) Volunteer Point students in right direction to collect all option sheets Students do not make any decisions yet! Students are collecting their options for spending money. They’ll use this information to make decisions later .

Option Sheets:

Option Sheets Students collect their options for spending in each budget category Students only collect sheets – they do not make any decisions Students should use their checklist to make sure they collect all option sheets.

Slide 23:

Sample option sheets

Personal Investment Report:

Personal Investment Report Students track stocks throughout day Collect stock prices from the ticker in town square Calculate total portfolio values Check prices 3 times Opening (Stage 2) Midday (Stage 3) Closing (Stage 4) Look for completed samples in Volunteer Manual

3. The Budget Puzzle:

3. The Budget Puzzle Students (return to home businesses) Make spending decisions based on options available Balance their budget Get Mid-day stock prices Volunteers Help with decision making process Distribute the unlucky cards using their account numbers. Help with math – there are no more answer keys. Students use all of the information they have gathered to make spending decisions and create a balanced budget.

Time to Make Decisions:

Time to Make Decisions Use Option Sheets and Guidelines and Actual Budget sheet Start with option sheets for Line #2 Follow directions, make a choice or complete calculation on option sheet to arrive at payment amount Transfer decision to green sheet (Step 3)

Here’s how to make decisions:

752 185 98 86 Here’s how to make decisions Step 1. Match option sheet with line number on green sheet

Make Decision:

325 752 185 98 86 Make Decision Step 2: Make choice or do calculations on option sheet. Step 3: Transfer the Payment Amount to Actual Budget sheet.

Each budget decision (Step 3) must fall between minimum and maximum guidelines.:

Each budget decision (Step 3) must fall between minimum and maximum guidelines. Students must spend at least the minimum in all categories.

Home Improvement & Furniture:

Package Price for Furniture and Home Improvement packages exceeds student’s maximum guideline. Student chooses payment between minimum and maximum guidelines. 1 499 86 There is no calculation – just pick an amount. Home Improvement & Furniture

Total Payments (Expenses) = NMI:

Total Payments (Expenses) = NMI The goal of the project is to balance their monthly budget. Students can put as much into savings as they’d like If overdrawn, they have to choose to spend less somewhere. $ 0-50

4. The Final Commitment:

4. The Final Commitment Students (roam around park again) Make payments at all businesses Get closing stock price Complete checkbook register Volunteers Help students who are still finishing The Budget Puzzle Help students make payments Guide students through balancing problems This stage is about putting their budget into practice. They’ll see if it works in our “real-world.” If they completed The Budget Puzzle correctly, it should.

Students pay their bills!:

Students pay their bills! Enter Account Number and PIN Enter Payment Amount The payment entered MUST be between the minimum and maximum guidelines. Students go to each business and enter payments on computers.

Student record payments in Checkbook Register:

Student record payments in Checkbook Register Schnucks 300 1580 1280 Busch Entertainment 50 1230 Enter NMI in box under balance. Enter business name and transaction amount. Subtract Transaction Amount from Balance. Enter the new balance below. Continue until no more money left and all bills are paid.

Budget Checkout:

Budget Checkout After all payments are made, students come to JA staff members to verify they have completed their payments and to check their final balance amount against the computer.

Thank you in advance for your help!:

Thank you in advance for your help! Remember that JA staff members will be available to help and answer any questions.

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