2/12/2009 – Project Promise - Analysis and Information Committee Meeting

Location: LEAVEN

Time: 1:00 p.m. to 4:00 p.m.

Present: _____________ (Jennifer, please include the list of all present)

• Faith to Face Poverty Week Media Kits
• Send to Jennifer Lehner, and she’ll assign homework to both Kevin and Jerry
• Efforts & Benefits: Focus on Financial Education
• Definition: Financial Education
• Ability of individuals to make appropriate decisions in managing their personal finances (working definition)
• Criteria utilized by UWFC for Financial Education (draft)
• People understanding basic financial concepts
• Reduce debt
• Money management
• Understand basic banking services
• Budgeting concepts

Source: 2005 - Financial education from poverty to prosperity, from Microfinance opportunities, DC

Example:

Why is there no financial education?

• not taught at home – no modeling
• personal information not to be shared
• stigma – family norms – don’t need to know
• embarrassment – it’s important to keep up with the Jones
• can’t compete with the Jones (it’s important to)
• materialistic society

Assignment: take the question: “why are people not financially literate?” and take one of the answers and then do the 5-why’s for this one. Send the exercise to Jennifer Lehner by Friday February 20^th

Q: Why don’t people have the ability to make appropriate decisions in managing their personal finances?

• no personal accountability
• addiction
• poor self image
• poor modeling
• unnecessary personal accountability
• learned helplessness/ enabled
• safety nets
• easy credit
• internet – lack of personal contact
• debit cards/ credit cards
• depersonalization of money
• lack of education
• cognitive disabilities
• complexity of banking/ tax system
• complexity of trying to invest
• immediate gratification
• generational poverty
• generational affluence
• boring to learn
• lack of interest
• time consuming
• setup of the banking system
• peer pressure
• societal norms

+	∆
Good to have a topic	Have agenda, stick to it, have structure
Not treading anymore	Set agenda for next meeting
Facilitation	Need better (ongoing) direction for main committee
5 why’s exercise
Guidance/ direction
Relaxed atmosphere/ welcoming
AHA’s/ Learnings
Helps when we have a process
Sticking to the process
Tom’s popcorn is good
Non-profit people are way too touchy/feely

Next Meeting:

Location: Goodwill Industries Community Center

(1800 Appleton Rd., Menasha).

Entrance #2

Conference Room: Darboy

Time: 1:00 p.m. to 4:00 p.m.