MONEY a Financial Literacy Program
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MONEY- A Financial Literacy Program: Train-the-Trainer’s Module 1 MONEY A Financial Literacy Program Train-the-Trainer’s Module prepared by Community Sector Council Newfoundland and Labrador in partnership with Credit Counselling Services Newfoundland and Labrador Funding for this project provided by Contact: Community Sector Council Newfoundland and Labrador October 2011 Suite 201, Virginia Plaza, Nfld. Drive St. John’s, NL A1A 3E9 Tel: 709-753-9860 Toll Free: 866-753-9860 Credit Counselling Services of Newfoundland and Labrador 22 Queen’s Road St. John’s, NL A1C 2A5 Tel: 709-753-5812 MONEY- A Financial Literacy Program: Train-the-Trainer’s Module 2 FOREWORD The project represented in this training manual is a creation of the Community Sector Council Newfoundland and Labrador (CSC) in partnership with Credit Counselling Services Newfoundland and Labrador. MONEY (More Opportunities Not Experienced Yet) is a program intended to assist people in increasing their financial literacy, which was developed in 2010 by CSC though consultation with numerous other groups. The project is funded by the TD Financial Literacy Grants Fund which is founded by partners SEDI and TD Financial. The program is aimed at broadening the array and delivery methods of financial management information and services primarily to people who face economic disadvantages. Through collaboration with consumers, community groups, government and professionals, MONEY has identified existing services, gaps, barriers and successful practices relating to financial literacy in this province. Building on existing programs, MONEY hopes to aid in the uptake of financial information and services by training community-based trainers who will then offer information sessions and raise awareness among community groups, their clients and members of the public. The purpose of this manual is for the MONEY train-the-trainer workshops. It provides materials which may be used to assist in the distribution and preparation of information by those who participate in the train-the-trainer sessions. In this way the quality and consistency of further information and peer learning will be encouraged. Please note the document is not intended for distribution to participants in future sessions offered by the trainers but is to serve as a reference or resource. If you have questions about the use of this material please contact Penny Rowe at the Community Sector Council NL at [email protected] or 866 753 9860 or Al Antle at the Credit Counselling Services NL at [email protected] or 888-738-3328 Good Luck and thanks for participating in this important undertaking. Penelope Rowe CEO Community Sector Council NL MONEY- A Financial Literacy Program: Train-the-Trainer’s Module 3 TABLE OF CONTENTS PART ONE ............................................................................................................................................. 4 Train the Trainer General Guidelines .................................................................................................. 4 Message to Trainers ............................................................................................................................... 7 PART TWO ............................................................................................................................................ 8 Session One Financial Choices and Options ............................................................................................................. 8 Session Two Understanding Credit and Debt ......................................................................................................... 11 Session Three Household Priority Budgeting ............................................................................................................ 15 Session Four Shopping for Food ................................................................................................................................ 18 Session Five Income Tax and Government Programs ............................................................................................ 20 Session Six Making the Transition to Work .......................................................................................................... 28 Session Seven Children and Money ............................................................................................................................ 31 Session Eight Being a Smart Consumer .................................................................................................................... 34 PART THREE ...................................................................................................................................... 36 Hand-outs.............................................................................................................................................. 36 MONEY- A Financial Literacy Program: Train-the-Trainer’s Module 4 PART ONE Train the Trainer General Guidelines According to adult educator Malcolm Knowles, adults learn best when: 1. They understand why a topic is important 2. They have the freedom to learn in their own way 3. Learning is experiential 4. The time is right for them to learn 5. The process is positive and encouraging Our Approach: • Strive to be as values-neutral as possible • Avoid judgments • Remember that we are all experts and we are all learners Preparation Steps: • Make sure you are rested beforehand because training is demanding work • Get to know the clients who are taking part in the workshop (talk to their service providers, etc.) • Arrange childcare or reimbursement for childcare for clients who need it • Arrange transportation for clients • Arrange aids for any clients with disabilities • Get to know the room you’ll be using • Enlist a second ‘trainer’ to be there and observe what is working and what isn’t Beginning the Session: • Introduce yourself and welcome clients to the session • Invite people to help themselves to refreshments • Point out where the washrooms are • Tell people when there will be breaks • Use an ice-breaker (see next section for some possibilities) • Ask people to turn off their cell phones or put them on vibrate • Briefly explain the objective of the session Possible ice-breakers: Unless all the members of the group know each other well, it might be best to avoid interactive ice- MONEY- A Financial Literacy Program: Train-the-Trainer’s Module 5 breakers. The purpose of an ice-breaker at the start of each session is to give the trainer the opportunity to directly address each participant while learning and using their name. Here are some that are quite simple: • Ask where does your name come from? Participants could answer about their first, middle or last names, e.g. my first name Joshua is from the Bible; I got my middle name from my aunt Elizabeth; Grandy is a common last name on the Burin Peninsula, etc.. • What is your favorite pastime? Answers could range from watching TV, reading detective novels, going to bingo, cooking, knitting, going for walks, etc. • What is your favorite season? What do you like about it? • Do you have an ‘earworm’ (a song that you can’t get out of your head)? What is it? Ground Rules (to be posted): Discuss ground rules and post them where they will be visible during the session They might include: • Keep an open mind • Everyone who wants to will have the chance to participate • Speaking is not mandatory • Let people speak, rather than interrupting • There will be no side conversations as these are distracting • Return from breaks on time • Respect one another • Remember that we are all different and we are all experts and learners • Ask if there is anything else to add? Presenting: • Be natural and relaxed—be yourself • Remember that communication is 55% body movements, including facial expressions, 38% voice, and 7% words • Be honest—if you don’t know the answer, say so Encouraging participation: • Use silences to allow people to absorb things • Frequently ask for and encourage questions and idea-sharing • Ask open-ended questions—the ‘how’ questions, rather than questions that elicit a yes or no answer • Keep your own contributions during discussions as brief as possible • Be patient—some questions or points raised may be repetitive and very basic MONEY- A Financial Literacy Program: Train-the-Trainer’s Module 6 Feedback: • Encourage feedback • Formally collect feedback at the end of the session, e.g. a simple questionnaire • Consider having a prize draw for everyone who gives feedback Ending the session: • Thank everyone for coming • Remember to distribute gift certificates or honoraria • Remember to distribute certificates of participation After the Session: • Note what worked and what didn’t: best practices and lessons learned Cautions for delivering sessions to people with low incomes: • Avoid using your personal stories, even if you are a service provider • Avoid talking about vacations as you will lose people • Avoid asking ‘why’ questions • Avoid using terms like ‘financial literacy’ • Use the breaks to check in with people • Be accessible after the session; don’t leave right away as there may be people who want personal contact with you Evaluation To understand how successful our training has been in preparing you to offer your own seminars, we will need to gather information from you after the training and over time. Questions may include: • Was the information you receive useful? • How soon will you plan your own session? • How will you know if the