FINANCIAL BEGINNINGS OREGON
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Mission Statement
Celebrating our 15th year of operation, Financial Beginnings Oregon is the leading provider of high quality financial education in Oregon. In partnership with schools and community-based organizations, we provide free financial education programs to youth, young adults and adults; these programs provide participants with the knowledge and skills they need to make informed, responsible and proactive financial decisions. Throughout our history, we have provided free financial education to more than 160,000 Oregonians, including more than 24,000 last year. As an organization, we are committed to fostering a diverse, equitable and inclusive Oregon. As such, we focus on bringing our programs to historically underserved communities; these communities include: the low-income community, communities of color, individuals and families without access to stable housing, individuals without access to stable employment, currently incarcerated youth and adults and rural Oregonians.
About This Cause
Financial Beginnings Oregon offers five free financial education programs to schools and community-based organizations throughout Oregon. These programs introduce participants of all ages to important personal finance topics, preparing them to make life's important financial decisions wisely and well. Our five programs, and their corresponding goals and objectives, are as follows: Financial Footings Financial Footings is Financial Beginnings Oregon’s financial education program for elementary school students. The program is split into two different curricula, one for grades K-2, the other for grades 3-6. The goal of the program is to begin the dialogue on financial education and introduce students to important personal finance concepts. The Financial Footings K-2 curriculum is split into four forty-minute modules. The four modules, and their corresponding objectives, are as follows: • Show Me the Money – Participants are introduced to currency, learning to identify the names and values of coins and bills, and they learn how to make and set a goal. • Earn Your Keep – Participants learn about different types of income, and brainstorm different jobs they might perform in the community. • Smart Spending – Participants learn to distinguish between needs and wants, and they are introduced to the concept of budgeting. • Save It – Participants learn the importance of saving and how to save their money securely (i.e. with the aid of a bank or credit union), and they learn to relate saving with the achievement of their goals. The Financial Footings 3-6 curriculum is split into four hour-long modules. The four modules, and their corresponding objectives, are as follows: • Money Matters – Participants learn the basics of money, including: who uses it and why, how it is manufactured, and the logic behind its design; participants are also introduced to the concepts of producers and consumers and supply and demand. • Manage It – In greater detail, participants revisit the concepts of distinguishing between needs and wants and creating and following a budget. • Get Banked – Participants receive an in-depth description of banks and credit unions, including the different types of accounts available, how to make deposits and withdrawals and how to balance their accounts. • Smart Future – Participants are introduced to the concepts of credit and investing, learning about credit cards, the components of a credit score, different types of investments and compound interest. Financial Framings Financial Framings is our financial education program for middle school students. The goal of the program is to give participants an understanding of how their financial decisions are connected to the global economy. Framings is our shortest program, consisting of one ninety-minute module. In this module, participants learn how global events affect local economies, and might impact their income, savings and investments. They are then presented with a series of scenarios to reinforce what they have learned. Financial Beginnings Oregon provides additional scenarios to teachers at the conclusion of each lesson, giving teachers the opportunity to continue the lesson in subsequent sessions. Financial Foundations Financial Foundations is Financial Beginnings Oregon’s largest program, and is our financial education program for young adults and adults. The goal of the program is to prepare participants for financial independence by providing them with the knowledge and resources they need to build proactive financial habits. The program is split into five ninety-minute modules. The five modules, and their corresponding objectives, are as follows: • Banking – participants learn: how to choose a bank or credit union; how to choose between accounts and services; how to prevent identity theft; the importance of maintaining a good relationship with their bank or credit union. • Budgeting – participants learn: how to make a financial plan; how to budget for short and long-term goals; how to relate responsible financial management to the achievement of personal goals. • Credit – participants learn: how to establish credit and keep it in good standing; how to acquire and read credit reports; the negative ramifications of payday and "rapid" loans; how credit is related to the achievement of personal goals. • Investing – participants learn: the common types of investments; the concept of risk vs. return; how investments are related to the achievement of personal goals. • Risk Management – participants learn: how insurance works; the various coverage types and exclusions; the process of buying insurance; how to file a claim; the responsibilities of the insured. Pathways to Education and Career Success The Pathways to Education and Career Success program is Financial Beginnings Oregon’s financial education program for prospective college students, and students currently pursuing a postsecondary degree. The curriculum is structured to help these individuals understand and plan for the financial complexities of pursuing a college, trade or technical degree. The goal of Pathways is to increase the number of prospective students successfully transitioning from high school to postsecondary education, and increase the number of current postsecondary students who finish their degree. The Pathways program is also split five ninety-minute modules. The five modules, and their corresponding objectives, include: • Career and Education Path – participants will learn: how to identify personal skill sets and explore careers that incorporate those skills; how to determine the educational requirements for those careers; how to research schools that fulfill those requirements. • Comparing Schools, Exploring Expenses – participants will learn: how to research salary averages; how to calculate the total cost of their desired school(s); how to compare total postsecondary expenses against out-of-school annual salary to determine their return on investment. • Financing College – participants will learn: the different options for financing college; how to find information on available scholarships; how to apply for financial aid via the FAFSA; how to find and review available college loans; how to calculate interest accumulation; the different types of payback options. • Managing Debt Accumulation – participants will learn: how to budget; how to limit student debt accumulation; to explore options for paying a greater amount of education expenses while in school. • Managing Debt After Graduation – participants will learn: how to look at realistic post-college living expenses; loan restructuring and consolidation options; how to set long-term financial goals that incorporate savings and debt management. Student Academy for Financial Empowerment (SAFE) SAFE is Financial Beginnings Oregon’s one-on-one financial mentoring program for low-income, underserved and historically marginalized individuals. The program has two components: group financial education sessions and one-on-one financial coaching. Participants take part in five group sessions; in each session, they review foundational personal finance concepts, and are then given tools and resources for applying these lessons to their financial lives. Participants are also paired with a financial mentor, with whom they work together to build on what they learn in each group session, identify financial priorities and complete personalized financial plans. The goal of the program is to work directly with individuals who have already experienced, or have a high risk of, financial hardship, providing financial guidance that is tailored to their unique circumstances. Each of the SAFE group sessions is ninety minutes long. The sessions, and their corresponding objectives, include: • Goals and Tools – Participants learn about: setting short, intermediate and long-term financial goals; household budgets; and the benefits of banks and credit unions. They then develop personal goals and budgets, and they review their banking habits. • Income and Taxes – Participants analyze current and possible future income potential and review common tax responsibilities. • Credit and Debt – Participants learn the importance of maintaining strong credit, how to access and understand credit reports and scores and the different types of loans. They then review strategies for establishing or improving their personal credit scores. • Insurance – Participants learn about the major types of insurance and analyze their current and future insurance needs. • Savings and Retirement – Participants learn about the importance of saving for emergencies and planning for retirement. They then make an individual retirement plan. Ideally, one-on-one mentorship begins after the first group session, and coincides with each additional lesson. One- on-one coaching personalizes and complements the group sessions, and helps guide participants in meaningfully applying the presentation’s lessons to their unique financial situations. The ideal participant will therefore conduct five one-on-one mentoring sessions, with more sessions available if desired. In cases where this schedule is not possible, participants schedule mentoring sessions on a schedule that accommodates their individual needs.