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My Finance Coach is a non-profit initiative run by over 60 partner and supporter companies such as Allianz, Deutsche Kredit Bank, Giesecke & Devrient, Grey, KPMG, McKinsey and Volkswagen Bank to help improve the financial literacy of young people. In a world that is becoming ever more closely interlinked, it is increasingly important to understand how business and finance work. That is where My Finance Coach comes in.
Who is My Finance Coach aimed at?
My Finance Coach is aimed at pupils in school years 5 – 9 (German education system). It uses interactive, practical examples and exercises to help children and young people learn about business and finances in a way that is relevant to their everyday lives. And with financial principles playing a role in ever more areas of life, instruction in financial literacy is all the more important as an effective means of preparing young people for the realities of life. At the end of the day, a better basic understanding of economics benefits everyone – the individual, society and our political and economic community. The My Finance Coach programme includes both in-school and extracurricular formats and teacher training components. What's more, the programme is continuously being expanded in all areas.
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 has a long-term outlook and has set itself the following core aims: Sparking interest, imparting knowledge and boosting skills.
What does My Finance Coach offer?
My Finance Coach provides teaching materials that are in line with the curriculum and have been prepared by education experts in cooperation with German school book publishers Klett MINT and Universum.
My Finance Coach also sends specially trained employees from partner companies into schools to present training units as Finance Coaches.
What's more, My Finance Coach works with the Akademie für Lehrerfortbildung und Personalführung (ALP) in Dillingen, Germany, to offer teachers a range of continuous professional development opportunities based around business and finance. This extensive teacher training portfolio includes both e-sessions and face-to-face events.
These in-school offerings are complemented by extracurricular activities such as our edutainment website and the annual National Youth Finance Competition (Bundeswettbewerb Finanzen).
Programme zur ökonomischen Grundbildung wie My Finance Coach sie anbietet, können die Aufmerksamkeit von Schülerinnen und Schülern darauf lenken, wie sie kurz-, mittel- und langfristig ihre materiellen Wünsche erfüllen können ohne Schulden machen zu müssen.
Join Paul on his journey through the jungle of consuming and saving...<br /><br />Find out more: www.myfinancecoach.de
What are teenagers' dreams and how do they manage their money?<br /><br />Find out more: www.myfinancecoach.de
We provide teaching materials for finance-related topics that have been designed specifically for use in the classroom and to suit your requirements as a teacher. Prepared by education experts in line with the relevant curricula, the broad range of modular teaching materials offered by My Finance Coach is ideal for use across a range of subjects.
Supplied free of charge, the documentation has been developed in cooperation with German school book publishers Klett MINT and Universum. As a result, the materials reflect the latest scientific and educational standards and methods.
To ensure the varying range of needs, abilities and learning speeds among pupils can be accounted for, additional consolidation and extension units are also available to complement each of the basic training units.
My Finance Coach comes to your school
Two trained employees from the participating companies will come into a class as Finance Coaches and work with the teacher to present the training. The Finance Coaches are not financial experts, but rather business specialists who can offer help and advice face to face.
The My Finance Coach programme is flexible and, thanks to the wide range of methods it uses, can be delivered in a variety of formats – as a typical class lesson, a project day, a project week or for a several year groups.
My Finance Coach is subject to a continuous process of development and updating. That is why feedback from both pupils and teachers who have completed a My Finance Coach training unit is especially important to us.
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.
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.
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.
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.
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.
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.
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.
In Training 4: Saving, pupils identify the special features of various types of investment and learn how they can achieve their personal desires.
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.
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.
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.
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.
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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
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.