Confidential and Proprietary NOT FOR DISTRIBUTION 1 Your Financial Future 1.

Confidential and Proprietary

NOT FOR DISTRIBUTION 1

Your Financial Future

1


NOT FOR DISTRIBUTION

Marcus JohnsonSenior Vice President,

Business Executive - Operations

Marcus Johnson serves as a Business Executive for Consumer Banking Services. His team is responsible for conducting detailed analysis and forecasting for a multi-million dollar portfolio of initiatives impacting the customer facing Contact Center and Banking Center channels. Previously, he served as the Sales and Service Executive for Consumer and Small Business Bank. He was responsible for establishing and executing an integrated sales and service strategy for approximately 6,000 associates across the North America, Central America, India and the Philippines. As Associate and Customer Experience Executive for the eChannels & Customer Solutions organization he had oversight for all associate communications, associate and customer experience strategies and customer insights programs. He supported approximately 15,000 associates across the U.S., Canada and the U.K. As Contact Center Executive Johnson led nearly 1,200 associates in the Fresno, Wichita and San Francisco. These centers serviced customers and Banking Center associates calling for assistance with Deposit products and individual retirement accounts. Johnson was responsible for balancing associate satisfaction needs and customer servicing expectations with efficiency and revenue-generating initiatives. Marcus joined Bank of America in 1995 as a part-time contact center phone associate. He earned a Bachelor’s Degree from the University of California at Los Angeles. He helped launch the Fresno chapter of the Hispanic/Latino Organization for Leadership and Advancement and was a Board Member of the United Way Fresno Chapter. He acts as Co-Chair for So Cal BPG Community Outreach and stays active in the community. Marcus is a member of the Bank’s National Black Executive Leadership Council and holds a seat on the Pasadena/San Gabriel Valley Council. Marcus, his wife Dianna and daughter Leila reside in Altadena, California.



Unit 1 The Economic Way of Thinking

• Activity 1 The Importance of Financial Planning (Slides 5-12)

• Activity 2 Making Sound Financial Decisions: Strategies for Life (Slides 13-19)

Unit 2 Money Management and the Basics of Banking

• Activity 4 Preparing a Monthly Personal Budget (Slides 27-34)

Table of Contents

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Unit 1: The Economic Way of ThinkingActivity 1: The Importance of Financial Planning

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Welcome

Why I’m Here

Introduction

Classroom Rules

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Unit Overview

•Good financial planning is the key to achieving financial security.

•Financial security means knowing that you can make, save and invest enough money to achieve your goals.

•A financial plan shows your current financial situation, identifies your financial goals and suggests ways for you to achieve them.

•The economy is the financial structure of a country.

•The U.S. has a free-market economy, which is one in which prices are freely determined by the available supply and consumer demand.

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Introducing the Lesson

Vocabulary• Financial security is knowing that you

can make, save, and invest enough money to achieve your goals.

• A goal is something you want to make happen in the future.

• A short-term goal is one that you can accomplish in the next year.

• A mid-range goal is one you hope to achieve within the next one to five years.

• A long-term goal is one that will take five years or more to reach.

• A financial plan is a “road map” that shows a person’s current financial situation, identifies his or her financial goals, and suggests ways of achieving those goals.

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Student Activity/Guided Instruction

Student Activity

• Complete the Goal Setting Worksheet.

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Student Activity/Guided Instruction (Cont.)

Guided Instruction

1. Share your answers with the class.

2. What are some of your immediate (short-term) goals?

3. Where do you see yourself in the next five years?

4. Can you imagine what you will achieve (not just acquire) by the time you are an adult?

5. Share with the class how you plan to achieve your financial goals.

Critical Thinking Activity/Assessment

Critical Thinking

1. What is a “possible” and an “impossible” goal? What makes one goal possible and one not?

2. Describe your goals for this school year and what you plan to do to reach them.

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Unit 1: The Economic Way of ThinkingActivity 2: Making Sound Financial Decisions: Strategies for Life

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12


Vocabulary• A forecast is a projection of

what might happen in the future.

• A budget is a plan for how to spend, save, and invest the money you make.

• Gross income represents your total earnings before any deductions, such as income taxes.

• Net income is your “take-home pay” — that is, the amount of your paycheck after all deductions have been made.

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Student Activity

• Complete the Monthly Income and Expense Forecast worksheet.

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Guided Instruction


2. Is there anything else you can do to increase your income?

3. Forecast, or project, your regular monthly income and expenses. Do you have any unusual expenses coming up this month?

4. Make a list of the short-term items you’d like to buy during the month.

5. Will you have enough income and savings to buy the items you want?


Critical Thinking

1. Picture yourself five years from now.

2. How much do you think you will be earning each month?

3. What expenses will you have?

4. How much will you have in savings?

5. What major things will you own and how did you buy them?

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Unit 2: Money Management and the Basics of Banking

Activity 4: Preparing a Monthly Personal Budget

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Unit Overview

•A budget helps you keep track of how much you earn and how much you spend. In essence, it’s a plan for how to spend, save, and invest the money you make.

•One of the easiest and most convenient places to keep your money is in a bank.

•Banks provide safety and security for hard-earned money.

•A dollar you have today may be worth more or less in the future, depending on how it’s invested.

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Vocabulary• A budget is a plan for how to

spend, save, and invest the money you make. It helps you keep track of how much you earn and how much you spend.

• Money you receive, such as wages from a job, an allowance, or even gifts, is called income.

• Money you spend on school supplies, clothes, food, birthday gifts and entertainment is called expenses.

• If you spend more than you earn, you will have a budget deficit.

• If you spend less than you earn, you will have a budget surplus.

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Student Activity

• Complete the Personal Monthly Budget Worksheet.

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Guided Instruction


2. What is your projected income for the month?

3. What are your projected expenses for the month?

4. Does your budget show a surplus or deficit?

5. You may repeat this exercise after one month to compare your actual income and expenses with your forecast.


Critical Thinking

1. If you have a deficit, what can you do to reduce your expenses or earn extra income to balance your monthly budget?

2. If you have a surplus, how might you save or invest this money?

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Conclusion

Wrap-up

• What have you learned today?

• What do you expect to do with the information you learned?

• What questions do you have?

Thank you!

Confidential and Proprietary NOT FOR DISTRIBUTION 1 Your Financial Future 1.

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