Transcript Document

Your Financial Future
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Marcus Johnson
Senior 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 revenuegenerating 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.
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Table of Contents
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)
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Unit 1: The Economic Way of Thinking
Activity 1: The Importance of Financial Planning
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Welcome
Introduction
Why I’m Here
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.
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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 Thinking
Activity 2: Making Sound Financial Decisions: Strategies for Life
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Introducing the Lesson
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/Guided Instruction
Student Activity
• Complete the Monthly Income and Expense Forecast worksheet.
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Student Activity/Guided Instruction (Cont.)
Guided Instruction
1. Share your answers with the class.
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?
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Critical Thinking Activity/Assessment
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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Introducing the Lesson
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/Guided Instruction
Student Activity
• Complete the Personal Monthly Budget Worksheet.
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Student Activity/Guided Instruction (Cont.)
Guided Instruction
1. Share your answers with the class.
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.
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Critical Thinking Activity/Assessment
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!
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