•  
  • My Finance Coach

    Get yourself financially fit!
    • QuestionsV

      About us

      What is My Finance Coach? Learn about the mission and philosophy of MFC.

      Learn more ...
    • Academic advisory committee

      The Academic Advisory Committee actively supports, guides and measures MFC’s activities.

      See more ...
    • Team3

      Our Network

      My Finance Coach receives support from a variety of companies.

      Learn more ...
    • MFC globalII

      MFC around the world

      See where MFC is active around the world.

    • Experience MFC

      Learn about MFC and see what it is like in the classroom.

    • Team4

      Your contacts

      Interested in learning more about the international activities of MFC? Please contact us.

      Contact Details

    Mission Statement

    Sparking interest, imparting knowledge and boosting skills

    My Finance Coach is a non-profit initiative founded in Munich, Germany in 2010 which aims to improve and increase the financial literacy of children and youth. It is run with the support of over 60 partner and supporter companies including but not limited to, Allianz, Deutsche Börse AG, Deutsche Kredit Bank, Giesecke & Devrient, KPMG, McKinsey, and Volkswagen Bank. MFC’s endeavors to instruct youth in smart money management and raise awareness about the real-life outcomes of financial decisions. The aim of this approach is to arm youth with the tools to be financially capable citizens and to create a financially stable future themselves.

    A study concluded that very few students are capable of making simple decisions about everyday spending. Beyond this assessment, the reality is that every day more and more youth struggle with debt. The results of the PISA 2012 Student Assessment conducted by the OECD to determine current levels of worldwide financial literacy in youth demonstrates the continuous need for comprehensive financial education. This is where My Finance Coach steps in.

    Who is My Finance Coach’s target?

    My Finance Coach’s target audience is pupils in aged 10-16. The initiative uses interactive, practical examples and exercises to help children and youth learn about business and finance in a way that is relevant to their everyday lives.

    What is the My Finance Coach philosophy?

    My Finance Coach does much more than simply provide information on business and finance. My Finance Coach wants to equip children and young people with the abilities and skills that are essential for an informed and responsible approach to money matters. My Finance Coach aims for long-term sustainability through three core goals: to spark interest, to impart knowledge, and to boost skills. 

    How does MFC do this?

    My Finance Coach has 3 approaches to achieve the goal of increasing financial literacy amongst children and youth: class visits, teacher training, and extracurricular activities. The class visits are conducted by Finance Coaches who are “experts” from the private sector that volunteer their time to teach one of the seven My Finance Coach modules which range from “Shopping” to “Planning” to “Online and Finance” to “Business and the Environment”. The My Finance Coach modules were developed in line with the curriculum and by educational experts in cooperation with the German textbook publishers, Klett MINT and Universum. The teacher training approach targets teachers by conducting seminars with them to provide them with the tools to teach the My Finance Coach modules. Extracurricular activities are My Finance Coach’s most diverse approach, including activities such as, the year-long National Finance Competition or the “Money Manager” and “Quizmaster” Apps which enable children and youth to learn about business and finance on the go.

     Where is MFC active?

    Since starting in 2010, MFC has expanded beyond Germany to 10 other countries including, Argentina, Brazil, England, Indonesia, Ireland, Malaysia, Poland, Singapore, Sri Lanka, and Thailand.

     
     

    Spotlight on Global Money Week

    During Global Money Week pupils in several different MFC countries shared their thoughts on saving and earning money, as well as their goals and aspirations for the future. Check out the video below!

    Global Money Week is a worldwide celebration organized by MFC’s partner, Child & Youth Finance International, to empower the next generation of financial actors to be confident, responsible, and skilled economic citizens.

    For the fourth consecutive year, My Finance Coach took part in the celebrations from March 9th-17th through its programs in Brazil, Indonesia, Germany, Malaysia, and Thailand.

     
     

    MFC around the world

    Experience MFC and its Benefits

    For more information on the effectiveness of the MFC initiative, follow the links to two studies conducted by Ludwig-Maximilians-Universität in Munich to measure the effects MFC has on the pupils who participate in a class visit.

     

    Lührmann, Melanie and Serra-Garcia, Marta and Winter, Joachin (2012): Teaching teenagers in finance: does it work? Discussion Papers in Economics 2012-24 

    Lührmann, Melanie and Serra-Garcia, Marta and Winter, Joachin (2013): The impact of financial education on adolescents' intertemporal choices

     
     

    Experience a class visit yourself!

    • You need Flash player 9+ and JavaScript enabled to view this video.

     

    Downloads MFC Infomaterial

    Download information materials in PDF format here.

    Teaching material

    Unterrichtsmaterialneu

    Find the right teaching materials for your class here!

    Click here for teaching materials

    Teaching material

    This section provides an overview of our teaching materials.

    My Finance Coach offers teaching materials that are in line with the curriculum and have been prepared by education experts. Alternatively, you can also arrange for a Finance Coach to come into your class. Experience business and finance first-hand with your pupils! And the best thing is that My Finance Coach costs you nothing and is completely free of advertising.

    Einfuehrung3

    Training 1: Introduction

    The “Introduction” training unit generates enthusiasm for the abstract topic of money and finances. This unit conveys the subject in a way that is relevant to the everyday lives of young people, pointing the way to building up an informed and independent attitude to money and finances.

    More information

    Money and finances are exciting topics that affect everyone!
    A film shows pupils who have clear ideas about budgeting and what will be important to them in the future.

    Training 1: Introduction makes it clear that an informed approach to thinking through your goals will enable you to achieve them. By discussing the film as a class, the pupils recognise that the same applies to money and finances. The spending type test shows them that everyone handles money differently. Pupils discover what type of spender they are and the results of the test provide indications of how they can build on their strengths when it comes to money management. The class looks at monthly expenditures and the pupils find out how to set priorities for their personal spending habits.

    What do your pupils learn?
    During Training 1: Introduction, pupils learn that finances and how they handle their money on a day-to-day basis are hugely important even at their age. Thinking through desires, objectives and plans opens up a positive and encouraging route into the future. The spending type test gives them a better understanding of their own personality and enables them to see where they fit in the various financial thought patterns. Training 1: Introduction encourages children and young people to actively engage with their personal financial planning and persuades them to take a closer interest in money and finances.

    Overview
    Presentation
    Guidelines for the Finance Coach
    Worksheet
    Feedback papers
    Kaufen3

    Training 2: Shopping

    Training 2: Shopping shows children and young people what they need to take into account when making informed purchasing decisions. They find out how advertising works and learn about important rights and responsibilities that they have as consumers.

    More information

    Developing consumer awareness
    Pupils get to grips with the key factors involved in purchasing decisions. They discuss the differences between wanting to buy something and needing to buy something and discover how advertising messages seek to influence their purchasing behaviour. During role play, they learn how to compare offers and make considered purchasing decisions. A product test enables pupils to practice evaluating and comparing the quality of products and brands.

    What do your pupils learn?
    This training unit helps pupils to adopt a structured approach when considering whether to buy something and provides the essential know-how that all self-aware and responsible consumers need. They learn to better understand advertising messages and compare offers so that they can make better informed and far-sighted decisions about day-to-day shopping and larger purchases. Scrutinising supposed special offers and small print makes pupils more aware of what costs they are incurring. They are equipped with the tools and know-how they need to be informed and independent active consumers.

    Overview
    Vocabulary
    Basic: Presentation
    Basic: Guidelines for the Finance Coach
    Basic: Poster
    Basic: Worksheets
    Basic: Feedback papers
    Consolidation: Presentation
    Consolidation: Guideline for the Finance Coach
    Consolidation: Poster
    Consolidation: Worksheet
    Extension: Presentation
    Extension: Guideline for the Finance Coach
    Extension: Poster
    Extension: Worksheets
    Planen3

    Training 3: Planning

    Training 3: Planning shows children and young people how to be prudent with their money. They learn how to actively plan their income and expenditure so that they can achieve their desires for the future through their own means.

    More information

    Adopting a prudent approach to income and expenditure
    Pupils recognise the importance of a responsible and prudent approach to money management. They get to know the basic terms “income” and “expenditure” and are shown various ways that they can keep track of their income and expenditure. Role play helps young people to see how prudent planning and informed money management can help them achieve long-held dreams. Over the course of the training unit, they offer their own ideas and experiences and gain further insight into variable and fixed expenditure through examples that they can readily identify with. Pupils consolidate their new-found know-how using worksheets and work in small groups to see how it can be applied in everyday life.

    What do your pupils learn?
    Pupils identify ways of controlling their income and expenditure. They see that developing their own budget will help them in life and that such plans can be very easy to keep. The new knowledge and understanding about how such a budget can be applied encourages them to do just that and adopt a more circumspect approach to many other aspects of life. The pupils learn how to realistically appraise their desires and ideas and are given the tools they need to achieve them through their own means.

    Overview
    Vocabulary
    Basic: Presentation
    Basic: Guidelines for the Finance Coach
    Basic: Worksheets
    Basic: Feedback papers
    Consolidation: Presentation
    Consolidation: Guideline for the Finance Coach
    Consolidation: Worksheet
    Extension: Presentation
    Extension: Guideline for the Finance Coach
    Extension: Worksheets
    Sparen3

    Training 4: Saving

    In Training 4: Saving, pupils identify the special features of various types of investment and learn how they can achieve their personal desires.

    More information

    Identifying conflicting objectives and setting priorities
    Training 4: Saving shows children and young people a number of different approaches to handling money. During group work and role play, they learn about the various features of different investment types. The “magic” triangle helps pupils to explore how they might deal with conflicting objectives and to set priorities.

    What do your pupils learn?
    There is a lot more to saving than just putting some money aside. In Training 4: Saving, pupils discover how they can already actively shape their future financial options. They learn that they have to set priorities for their savings targets according to their personal interests and needs and that there are various forms of investment that can help them in this regard.

    Overview
    Vocabulary
    Basic: Presentation
    Basic: Guidelines for the Finance Coach
    Basic: Worksheets
    Basic: Feedback papers
    Consolidation: Presentation
    Consolidation: Guideline for the Finance Coach
    Consolidation: Worksheet
    Extension: Presentation
    Extension: Guideline for the Finance Coach
    Extension: Worksheets
    Risiken3

    Training 5: Managing risk

    In Training 5: Managing risk, children learn how to analyse various risk scenarios and their consequences. They identify opportunities to reduce and protect against individual risks.

    More information

    Managing and protecting against risks
    Training 5: Managing risk shows children and young people a number of different approaches to managing risk. The ability to correctly assess risks is essential to better money management. But how do you explain to young people that it is important they already begin thinking about risks and what all this has to do with finances? During group work and role play, they learn about the features of various risk categories and consequences. Pupils analyse risk scenarios using practical examples they can relate to and learn strategies they can apply to their own approach to handling risks and money. During a quiz with finance-related questions, they test their own willingness to take risks and become acquainted with the principle of probability. The training unit explores various options for reducing risk along with alternative methods for protecting against risk. At the end, the young people look to the future and use their imagination to think through potential risk scenarios during various stages of life.

    What do your pupils learn?

    Pupils acquire detailed know-how about risks and the capacity to make informed decisions about the risks they are willing to take and those they would rather not take. The potential positive or negative consequences of these decisions encourage them to further explore this topic area. There is a particular emphasis on risk in relation to money and finances. The training unit also explores options for protection and the need to analyse which options are suitable for consideration. They learn that willingness to take risks is a very personal matter and that our perception of risk scenarios changes through the various stages in life.

    Overview
    Vocabulary
    Basic: Presentation
    Basic: Guidelines for the Finance Coach
    Basic: Worksheets
    Basic: Possible class results
    Basic: Feedback papers
    Consolidation: Presentation
    Consolidation: Guideline for the Finance Coach
    Consolidation: Worksheet
    Extension: Presentation
    Extension: Guideline for the Finance Coach
    Extension: Worksheets
    Extension: Possible class results
    UmweltWirtschaft3

    Training 6: Environment and business

    The training unit focuses on the relationship between the environment and business and asks what an individual can do to help strike a balance between ecology and economics. It looks closely at the issue of sustainability and uses mobile phones as an example of how the global value creation chain for consumer goods works.

    More information

    Find out more

    In an age of dwindling resources and advancing environmental pollution, the issue of “sustainable business practices” is becoming more important than ever. This training unit looks at what a sustainable approach to planning, business practices and lifestyle actually means and examines how all of us can do our bit to protect the environment by making changes to our consumer behaviour.

    Using mobile phones as an example, this unit maps the global value creation chain of products from the extraction of raw materials, production and transportation to usage and disposal. Pupils calculate their “ecological footprint” and develop solution approaches for how they can help reduce CO2 emissions in everyday life.

    What do your pupils learn?

    Concrete examples help the pupils to explore what doing business in a globalised world means and how it can impact on their immediate environment. They are encouraged to develop a critical approach to the various interests of different market participants and discuss consumer habits against the background of dwindling resources.

    Overview
    Vocabulary
    Basic: Presentation
    Basic: Guidelines for the Finance Coach
    Basic: Worksheet
    Basic: Possible Class Results
    Consolidation: Presentation
    Consolidation: Guidelines for the Finance Coach
    Consolidation: Worksheet
    Consolidation: Possible Class Results
    Extension: Presentation
    Extension: Guidelines for the Finance Coach
    Extension: Worksheet
    Extension: Possible Class Results
    Extension: Infosheet
    icononlinecmyk

    Training 7: Online

    The training focuses on how young people use the internet and their surfing habits. Especially, handling personal data in social networks and the consequences of handling it over. It raises the awareness for making confident and secure use of the possibilities offered by the internet.

    How to order our teaching materials

    Our materials for your lesson

    Open contact form

    Have you successfully taken part in our e-Session?
    You can now order the materials including worksheets for your class (25 copies) free of charge. These will be sent to you by post.
    Please use the message box below to tell us which training module you would like to order. We will then process your order immediately.

    captcha
     
  •