Annual Report 2013

Annual Report 2013

2

How does knowledge get into young people’s heads?

3

When enthusia edge, the result My Finance Coach is convinced that enthusiasm and fascination are elementary requirements for the sustainable acquisition of knowledge. To capture the interest of pupils, My Finance Coach follows an “edutainment” approach, which presents finance and business as tangible concepts in an amusing and inclusive way by using examples drawn from young people’s lives and experiences. My Finance Coach awakens an interest in economic matters, conveys everyday financial knowledge and helps to promote the development of sustainable skills.

4

Chapter name



Project title

sm meets knowlis competence.

5

Foreword

Foreword

Financial and economic affairs shape our everyday lives to a far greater degree than ever before, which has an enduring effect on social and political life as a whole. This creates a basic understanding of economics indispensable in political decision making and represents a precondition for participation in social life and public debate. Economics and finance are not fundamentally abstract concepts. Economics is real, economic activity is part of everyday European life and everyone participates in it by one means or another. It is impossible to avoid money altogether, which makes it important to learn at an early age how to manage money in a self-confident and responsible manner. In today’s consumer society, young people are being exposed to more and more stimuli to consume. It is therefore important for them to learn early on, that not everything which is desirable is necessarily realistic. Basic financial literacy offers guidance in this respect and helps young people learn how to set priorities and adopt a critical approach to advertising and items offered for sale. Even if the economic circumstances differ from one country to another in Europe, the fundamental economic principles and issues are broadly similar. It is generally accepted that in the reality of economics nothing comes for free. Young people need to reach this understanding at an early stage. I would like to thank all parents, schools, ministries, authorities, consumer protection organisations, foundations and non-profit organisations such as My Finance Coach Stiftung for the contribution they have made to improve the basic financial literacy of children and youth. This collaborative effort generates a greater level of trust, which is essential for the real economy and financial markets. A lack of understanding and uncertainty in financial and economic matters lead people to temptation, hinder the building of trust and impede a modern European social policy. I would like to encourage everyone engaged to continue their efforts to improve financial literacy for the benefit of young people and our entire society, and I wish every success to all involved. Best regards,

Vítor Constâncio Vice-President of the European Central Bank

6

7

1

Offers for Schools Class visits............................................................................ 12 A few words for the class book ........................................... 14 Project week on career advice ............................................ 16 Junior Finance Coaches ....................................................... 18 Evaluation by LMU Munich .................................................. 20 Social commitment .............................................................. 22

2

Teacher Training New teachers’ course on Saving ......................................... 26 In-school teachers’ courses ................................................. 27 E-sessions ............................................................................ 28 Teaching aids........................................................................ 30

8

3

Extra-curricular Activities Holiday academy.................................................................. 34 National Finance Competition ............................................. 36 WirtschaftsSchule ................................................................ 38 Monthly specials .................................................................. 39 App: MFC Geldmanager ....................................................... 40 MFC on tour ......................................................................... 42 Trade fairs ............................................................................. 44 German head teachers’ congress........................................ 45 OECD conference ................................................................. 46

4

Other Topics Work placements at MFC .................................................... 50 International activities ......................................................... 52 Advisory committee ............................................................. 56 Finances ............................................................................... 58 Partners, sponsors and supporters...................................... 60 The team looks back ............................................................ 62 It was an honour .................................................................. 64 Looking ahead to 2014......................................................... 66

9

Our offers for scho oriented and relev Outstanding teaching material and Finance Coaches in the classroom provide the pupils with exciting insights into business and finance.

10

ols are studentant to daily life.

= 1 MFC class visit

11

Dedicated Finance Coaches visiting a class.

Offers for schools

Class visits

Back to the classroom. My Finance Coach promotes the general financial education of young people through class visits, during which Finance Coaches teach pupils about business and finance using their own business expertise.

Every Tuesday morning at 8:30 a.m., Finance Coaches receive an e-mail informing them of upcoming class visits at local schools. But what does the Finance Coach need to do to make the class visit successful? First the Finance Coach checks which invitations fit into his or her professional diary. If there is a suitable opportunity, the Finance Coach registers for that class visit. The next step is to find a partner Finance Coach. Ideally, the partner Finance Coach is from a different company or division than the other Finance Coach in order to bring a broader range of practical know-how to the pupils.

On September 3, 2013, My Finance Coach’s 3,000th class visit took place at Realschule John-F-Kennedy-Platz, an intermediate secondary school in Braunschweig (Brunswick), Germany. Two Finance Coaches from Volkswagen Financial Services (the new nationwide partner of My Finance Coach) taught a 90 minute lesson on the topic of Planning. During the discussion of income and expenses a student demonstrated his understanding of the topic by saying, in order to buy a motor scooter “I not only have to plan my income and expenditure, but have to get the approval of my parents as well”.

Once a partner Finance Coach has been found, the Finance Coaches contact the teacher to discuss which My Finance Coach lesson is the most relevant and complementary to the topics the pupils are learning. Then the Finance Coaches prepare their lesson in line with the curriculum of the class they are visiting and organise the logistics of the visit. During a 90 minute class visit the Finance Coaches introduce themselves to the pupils, answer questions about their professional lives, and teach a lesson on financial topics, such as saving, financial risks, the connection between the environment and business or the effect of internet on personal finance. The Finance Coaches also teach the pupils how to research financial topics on their own through sources such as the magazine Finanztest, films from the EU “clicksave” initiative or local consumer protection agencies. At the end of the class visit the Finance Coaches ask the pupils and teacher to fill out feedback forms regarding the visit. The feedback is analysed later and used to improve the teaching materials and overall structure of the lesson. The Finance Coaches also give the teacher additional material to use later in further lessons. This marks the conclusion of the class visit. It has been an exciting lesson for everyone involved!

Social

commitment During the reporting period, Finance Coaches dedicated 10,000 working hours to the financial education of children and young people. In the course of their work, the Finance Coach teams visited 1,400 classes and reached more than 35,000 pupils.

13

Offers for schools

A few words for the class book

Tipping the scales. My Finance Coach makes a vital contribution to the development of financial skills in young people. This would be inconceivable without the continuous support of teachers. Motivated teachers who recognise the importance of basic financial knowledge for young people are vital for the educational success of My Finance Coach. Teachers enable the Finance Coaches to share their knowledge within the classroom and provide their pupils with the essential building blocks of economic and financial knowledge.

as individual tutoring for students, parent-teacher conferences and their function as a role model, as well as the contemporary structuring of teaching a class, to name a few. In anticipation of many more  class visits and successful projects, the whole team at My  Finance Coach expresses a sincere thank you to all teachers for their invaluable work towards a better financial education for children and young people.

Before, during and after the class visit, the teachers are the Finance Coaches’ main contact for structuring and coordinating the class visit. Teachers deserve the highest respect for their dedication and sense of responsibility in many areas, such

“Showing that it is possible to act consciously and sustainably in everyday life by the use of topics that interest pupils is extremely valuable!” Sven Wiedmann | teacher

“Learning by doing is always a good approach and, with this project, it works extremely well. The National Finance Competition even allows the youngest pupils to learn about the subject of money autonomously. The example they chose of the school trip and the role playing came directly from the children’s own experience. The exercise set was challenging and encouraged creativity at the same time. And along the way, the pupils learned how to draw up a budget and to develop their economic reasoning.” Maria Kipp | teacher

“Every day, our kids are inundated with offers from the mass media. They spark desires that can become a real danger. With its entertaining, highly practical teaching units adapted to young people, My Finance Coach makes a valuable contribution to the education of responsible consumers.” Birgit dittmer-Glaubig Deputy head of the Simmernstrasse middle school in Munich

“My Finance Coach: highly varied and informative material. Two competent and flexible coaches: the pupils learnt a lot and enjoyed themselves!”

“The module they presented was well structured and adapted to the pupils. Thank you to the Finance Coaches for their commitment.”

roswitha Moosmann | teacher

Christine Georg | head teacher

“When I tell the children what GEMA, the society for musical performing and reproduction rights, is about, they just roll their eyes,’ says teacher Christina Bensch. She is happy for some assistance with financial topics. Understandably, she was sceptical to begin with. ‘I was afraid the coaches might start advertising products or talk us into signing contracts,’ she says, ‘but my fears were unfounded.” Tagesspiegel, 26.05.2013

arumquam es autatum dolorum

Offers for schools

Project week on career advice

What happens after school? The MFC project week “We’ll get you fit for work” – co-financed by the European Social Fund in Bavaria – provided theoretical and practical training on choosing a career, including interview etiquette tips, to pupils in year 8 (German system) at the intermediate secondary school, Realschule Unterpfaffenhofen.

“Which kinds of careers are there?”, “How do I write an application letter?” or “How should I behave in an interview?”. These and other questions were asked by pupils over the course of the four-day project week. The project, which focused on career advice and applications, was co-financed by the European Social Fund and took place July 15 to 18, 2013. The European Social Fund (ESF) in Bavaria is one of the European Union’s main structural funds and promotes employment and the maintenance of regional competitiveness in Bavaria making it the ideal sponsor for the My Finance Coach project week. A total of 34 lessons took place from 8 a.m. to 4 p.m. over the four day project week. On the first day, pupils participated in a lesson aimed at discovering their career goals and the criteria of their future dream career as well as what skills they would need to acquire to make that dream reality. Another lesson taught the pupils what career related resources are available. For example, the German job centre and online platforms ranging from azubiyo.de to the youth wing of the DGB trade union.

On the fourth day, the pupils were able to put what they had learned into practice in mock job interviews. Baron Knigge, the epitome of modern etiquette, and Ms. Riegelsberger from My Finance Coach, kicked off the mock interview session. The pupils were judged not only on their eloquent responses, but also on their appearance and body language. The project was rounded off by a joint lunch, including a few tips on manners, and the awarding of certificates. “I found out something about myself, which included the fact that learning can be fun.” (Marco T.) Marco T. demonstrates that career training is not just a necessary obligation but that it can also be fun. Realschule Unterpfaffenhofen is planning to include the project week as a fixed element in its curriculum given the success of the week with pupils receiving an overall score of 1.8 (on a scale of 1 to 6 with 1 as the highest).

The second day was entitled “Self and social skills”. Pupils learnt about the structure of a job advertisement and how to identify the most important requirements of a position. Roleplay and group work enabled them to test their professional and social skills in a hands-on setting. “Training for off- and online job applications” was the focus of the third day. Pupils wrote an application letter and curriculum vitae in response to a chosen advert. Afterwards, a human resources expert gave them tips on what to expect and how to behave during an in-person interview and on a telephone interview.

Well prepared for a big day: Baron Knigge at interview training with year 8 pupils from Realschule Unterpfaffenhofen.

17

Offers for schools

Junior Finance Coaches

First class visit: Finance with Abigail, 17 years old. In the Junior Finance Coach programme, pupils learn from experienced business people and then pass on their knowledge to other pupils. Those who can teach a topic demonstrate a better understanding of it.

“Changing sides like that is a completely new experience: the teacher’s perspective is totally different to that of the pupils”, says Abigail (aged 17). As a Junior Finance Coach, Abigail successfully coaches her peers about finance and business. Her success is due to the fact that peer-to-peer teaching inspires a high level of acceptance from the pupils and makes her more credible. Pupils are asked to be Junior Finance Coaches by their teachers beforehand and then prepared for their class visit by experienced Finance Coaches. Then the Junior Finance Coaches have the opportunity to share their knowledge with younger pupils by conducting their own class visit – always in a team with an adult Finance Coach. This knowledge transfer takes place between different school years and between different German school types. “Coming from the Gymnasium, or grammar school, it was a great experience to go to a middle school,” says Naomi, a Junior Finance Coach from Munich. “The pupils were very interested and it was great fun.”

Junior Finance Coach Abigail from Gyula Trebitsch Schule Tonndorf in Hamburg.

18

The Junior Finance Coach programme both teaches important financial education lessons and fosters social competence and media skills of pupils. All in all, the Junior Finance Coach programme amounts to what is known as a classic win-win situation: “This project not only gave me a lot more knowledge; it did the same for the pupils”, sums up Christian, a Junior Finance Coach from Frankfurt.

The teacher’s perspective is very different. I have to try to get the pupils interested in the subject of finance and business.”

At My Finance Coach, you don’t only learn for your own life; you also pass on what you have disco­ vered.”

Quotes from participants in the Junior Finance Coach programme.

This is exactly what I think initiatives for young people should be: exciting, varied and interesting.”

I think it’s very important to find out about the ­financial sector, even if you don’t want to work there.”

Understanding what “hire purchase” means +13.2

70

60

64.6%

+4.0

50

60.4%

51.4%

40

56.4% 30

20

Girls

10

Boys

0

aining efore tr

aining After tr

%

B Before

training

aining After tr

Percentage of pupils surveyed who understand what “hire purchase” means (N=967).

Critical opinion of advertising

70

60

+14.7

+15.8

50

40

44.3%

52.0%

30

20

29.6%

36.2%

Girls

10

Boys

0

aining efore tr

aining After tr

B Before

training

aining After tr

Percentage of pupils surveyed who agree with the statement “Advertising wants to sell me something” (N=933).

%

Offers for schools

Evaluation by LMU Munich

Numbers say more than words. The results of the second scientific study investigating pupils’ financial knowledge and the effectiveness of financial education methods reaffirms the positive effect of My Finance Coach’s work.

class visit with the Finance Coaches were better able to complete the complex related exercises consistently.

“The pupils’ level of knowledge improved drastically, especially in the areas of hire purchase, debt and shares”, according to the results of the study conducted by Professor Joachim Winter and his team at Ludwig-Maximilians-Universität in Munich.

In order to obtain the most precise results possible, the study included randomised “treatment and control groups”. Both groups were asked the same questions before and after the class visits by the Finance Coaches. The answers given were compared and served as the basis for the analyses in the study and to evaluate the work of My Finance Coach.

The proportion of pupils who understood the parameters of “hire purchase” increased from 55% before class visits from Finance Coaches to 62% after class visits. In the beginning, only 40% of the pupils knew that buying shares made them co-owners of a company. After the class visits, the figure rose to 50%. The percentage of pupils who had a critical opinion of advertising in the media increased from 33.3% before the class visit to 49.1% afterwards. Before experiencing a class visit from Finance Coaches about 40% of the pupils said they were “not interested” or “not at all interested” in financial topics. After experiencing a class visit the number of pupils not interested in finance decreased to slightly less than 30%. Similar positive changes were observed in the pupils who had rated their knowledge of financial topics as “poor” or “very poor” before the class visits. The study also revealed interesting findings on the saving habits of young people. In particular, reliable scientific conclusions proved that the wide differences of adult budgeting and saving habits are already present in children. The extent to which pupils were willing to forego smaller sums of money in the short term in exchange for a much greater reward at a later date was used as a measurement instrument. In this context, it also became apparent that pupils who had already experienced a

With a heritage going back over 500 years, 150 courses of study on offer and nearly 50,000 students, LudwigMaximilians-Universität München is a leading university by international standards. To evaluate the work of My Finance Coach, Professor Joachim Winter, Dr Marta Serra-Garcia and Dr Melanie Lührmann developed a two-stage model of analysis and interviewed 57 school classes from Bavaria, North Rhine-Westfalia and Berlin. In 2013 a practical exercise was included for the first time, and provided an additional indication of the positive effect of My Finance Coach’s work on the financial competence of young people.

21

Lars Seehof Sebastian Queißer Elisabeth Neuland Heike Botzler Marco Gruber Fayssal El’Moufatich Matthias Jansen Michael von Kessel Mayer Barbara Scheck Tobias Maier André Bleymeyer Werner Waldner Christian Wenninger Marc Schanbacher Hans-Joachim Laich Jürg Sebastian Jauch Stephanie Pratsch Peter Kempe Andreas Güttner Frank Rödemer Karl Brückl Mirjeta Fetoshi Guido Kirberg Marc Norbis Klaus Rostek Gerhard Schreiber Silvia Benz Joachim Ziegler Souad Acheffay Rainer Dietz Andreas Forgach Ingo Klenner Jessica Krieger C Christine Schlüter Marco Wittwer Isabell Martin Uwe Streckenbach Kai Bigge Petra Heine Matthias Herrmann Kerstin Mosler Stephan Sc Barth Reiner Zoche Christian Cassebaum Tanja Fuchsluger Werner Zedelius Nicole Buchner Andre Fuchs Christian Resch Kathrin Hei Heinemann Alexander Vollert Andree Moschner Veit Oos Thomas Wiesemann Frank Friese Tamara Pfister Lüder Kaiser Walter Prem Greta Weiher Klaus Samwer Simone Vogel Michael Furchert Alexandra Kinzl Holger Prem Bernd Rempp Claus Dietz Roland Gerard Andrea Mertschenk Christian Seel Sabine Seitz Alexander Stark Peter Stoll Sabine Wesenberg Iska Beulke Andreas Kern Jochen Kienberger C Kieselbach Heike Kostorz Julia Schildmeier Ines Rommel Reiner Volquardsen Philipp Nowicki Christina Schüle Melanie Liebelt Natalie Bö Daniel Rittershofer Martina Beck Holger Freimann Markus Falk Michael Sanden Felix Brückner Michael Rode Stefan Schuster Jens Fürste Buth Tanja Volz Claudia Lochert Sebastian Raatzke Roland Schneider Jens-Torsten Müller Petja Pucci Tanja Mora Estrada Rico Trapp Jens Brigitte Herrmann Cornelia Fister Ines Nowak Volker Passek Michael Theiss Detlef Endres Axel Ehrmann Marcel Lai Duc Tobias Linder Michael Ludwig Jens Otto Mirko Stubbe Ulrich Buttermann Michaela Jennen Björn Florack Stefan Remshagen Manfred Kraus Thomas B men Reiko Vorein Manfred Weiner Sebastian Haut Uwe Lüdtke Kathrin Schmidt Alix Stödter Christian Albrecht Martin Herrmann Maxim Berger Oliver Karl Carsten Deni Sandra Redmann Marlen Wollmer Thomas Hüther Ralf Kontny Britta Müller Olaf Wittich Alexander Dure Schnabel Alexander Erk Simon Kaesler Markus Kleiner Steffen Petzold Lutz Bönisch Susann Petrich Dieter Kurth Jörg Neumann Thoma taschinski Christof Weddemann Frank Bauz Daniela Seifert-Winkler Inka Vorwerk Andrea Bertram Livia Gondos Susan Graichen Kerstin Ulrike Leyherr Albrecht Eisenreich Christian Behlert Viola Heuer Sebastian Gatzer David Sills Heiko Peschel Hanna Nilsson Magdalena Oppat Ralf Herrmann Maria Taubert Niklas Schirmann Jens Woloszczak Claudia Gaganis Stefan Reimig Brigitte Vernin Lukas Streiff Gerk Bovermann Alexandra Dilger Raphael Dimpfl Brigitte Egger Matthias Encke Bastian Kai Roeder Barbara Waltner Frank Budszuhn Irene Vorhaus Christian Bischoff Brit Fiedler Judith Kahnert Ferkan Sandi Patrick Schmid Markus Blum Stefan Wirtz Astrid Kaltenegger Bastian nifer Breuer Vanessa Nowak Andreas Budack Janina Pfüller Martin-Justus Bareuther Madlen Kusche Claudia Thurm Tilman Tschöke P Pampel Mathias Wendt Marion Arndt Susann Wiffler Michael Godelmann Matthias Koeplin Nicole Wetzel Jan Geiger Friederike Brodac Dieter Wemmer Martin Hintz Dietrich Brunner Hanna Sommer Anton Betzl Markus Haak Joachim Müller-Dang Susanne Overhoff Jörg S Geiß Hubertus Grabmair Alexander Göbel Wolfgang Brönauer Doris Quirmbach Jessika Wäsler Hauke Fischer Alexandra Huber Stepha Christian Könnecke Helmut Kraft Marcel Löser Sabrina Schröter Felix Senkler Wolfgang Deiss Martin Ring Per Protoschill Maik Amor D Andreas Jankrift Göran Spohr Grit Scheidemann Daniel Möller Anne Schenkel Nicole Schmidt Jens Schmidt Sven Bernhardt Doreen S Gruner Susann Oertel Maik Proft Martin Blücher Björn Borges Nina Berger Jörg Strothotte Lis Hannemann-Strenger Maximilian Zimmer Regnet Piera Ziedek Peter Pillath Kathrin Bach Jessica Hospotka Claudia Riccardi Patrick Jürgen Afflerbach Franz Diebold Daniel Frank Philip Schade Steffen Schuberth Barbara Christine Seitz Dominik Storhas Florian Strobel Kilian Johann Wischer Marina Buchberger Jana Trautvetter Jenaharan Jeganathan Maren Hartmann Stefanie Kretschmer Heike Barnickel Claudia Rausch Wiebke Steuermann Funda Sa Birgit Steidle Pier Stefano Sailer Roman Kettern Barbara Polt Petra Sälzer Marina Solocki Frederik Cramer André Holdschick Franziska H Tabandite Holger Ludwig Katharina Ashauer Julia Brauckmann Daniel Siegel Jens Kolata Michael Freudenberg Florian Stein Marc Olive Gerhard Bischof Stephan Bleimann Cemre Bagci Lisa Kaufmann Kai Bergschmidt Manuela Schülke-Krolik Sandra Steinbach Kerstin Vos Mahler Maria Berdich Adrian Bujan Florian Braun Sascha Schneider Jennifer Quandt Nicole Göbel Satheevan Kasippillai Ina Jensch Chris Hafez Oskar Gläser Marco Göpfert Kirsten Serrano Dirk Hillmer Marcus Wigand Julian Monschke Janina Tietjen Martina Mittmann Gesin Nicolaus Schinkel Maximilian Cordier Torsten Thebes Martin Höner zu Siederdissen Jens Krall Tea Mesanovic Melanie Gierten Stefan V Annetzberger Tina Vogl Iris Rechtsteiner Marion Bach Kai Eggers Andreas Heidrich Christiane Bartsch Violetta Gawol Jenny Kreuzburg J Singh Gloria Seibert Konstatin Barrmeyer Juliet Green Adrian Ciesinski Melanie Behne Herbert Biemann Didem Korkmazyürek Alexand Krösien Dawid Kmiotek Christian Hahn Matthias Rubin-Schwarz Philipp Stümcke Mela Fiedler Peter Ziegler Johannah Wilsdorff Mikaela Daniel Ölkers Natalie Fink Sarah Brandt Milena Lieske Angelina Helk Sebastian Tober Martin Hansen Jürgen Hager Georg Kerschenstein ova Sina Steidl Andreas Theres Simone Emke Fabio Cunetto Iris Hammerla Volker Hamann Nathalie van Hövell Robert Filsinger Hage Monika Massun Nina Wolf Franziska Dyck Ralph Reimesch Horst Becker Ina Post Thorsten Löffler Sonja Bauschmann Sahin Güngör Sed Reuthebuch Hans-Friedrich Heublein Katrin Schmidt Joachim Müller Marc Stauder Anja Nickels Stephan Mehl Hendrik Koch Matthias S Stefan Wong Benedict Siemons Hanka Marx Christina Stansell Deepak Shenoy Koushik Muralidharan Bevin Ngara Julia Zimmer Lily Felixb Smid Pia Bihlmaier Kathrin Ehrig Stephan Lowitzer Jeannine Sütterlin Maike Unger Eva Kliebisch Robert Heinlein Ekaterina Belova Fran Gisela Schwab Elisabeth Sellami Jörg Steckelberg Alexander Wax Miriam Weber Claus Wehr Christian Erythropel Klaus Behrenbeck The Schweitzer Rainer Theobald Florian Wolf Thomas Däuwel Jochen Götter Klaus Dahm Kai Konrads Ralf Birk Mariam Grigorian Maria Ass Dörrler Karin Mehnert Desislava Popova Katharina Kertels Ann-Kristin Hunstiger Holger Kneisel Frank Strittmatter Carola Rentergent M Reinhard Jung Ingo Erben Andrea Felger Peggy Haase Nina Kalinowski Janine Köcher Meli Le Huray Hanno Muckenheim Tilmann Scha Wende Bernhard Hofmann Maximilian Krug Thorsten Wermeckes Sabine Weinschenk Roland Göppel Alexander Hasse Guido Steinbeck Vinod Bennerscheidt Thomas Kretschmer Monika Fabry Martin Nguyen Saskia Sofia Cammann Wolfgang Fredrich Julia Paar Tanja Büde brecht Florian Fischer Thimo Deckelmann Alexander Weitling Andy Gottwald Hendrik Bothe Gregor Richter Julian Schelle Elke Fiegert V chael Raubold Stephanie Aschauer Jenny Grey Martin Stuchtey Jeannine Bartmann Michael Weidinger Martina Hitz Ilka Kuckuk Larissa Sohn Michael Reich Marco Winter Malte Kraus Stephen Peters Tobias Vatterodt Oliver Brandt Birgit König Burkhard Keese Astrid Herold Knof Harald Boysen Claudia Berggrün Peter Galdia Henning Junker Nils Rodermund Michael Schaper Kai Alexander Riedel Dirk Wronko Herberich Susanne Kiermaier Sibylle Killinger Nina Maurer Christian Scheler Kathrin Zwingenberger Astrid Köppe Günter Hess Angelika Hille Emil Baumeister Katinka Klebow Stella Lind Olaf Mielke Jutta Herrmann-Fischer Nihad Sebastian Jamal Charlotte Reiher Martin Voge Srey Hans-Peter Uerlings Hendrik Seidel Nico Theuss Friedrich Bolz Tom Waldeck Martin Hebertinger Martin Wricke Annekathrin Dietric Dobin Dominik Bogacz Okan Keklik Romanus Schnarrer Sabine Goette Bernd Theißen Daniela Bastian Martin Cornelius Stefanie Arndt Thomas Pönisch Wulf-Dietmar Storm Pia Knabe Torsten Zibell Jürgen Romahn Martin Schafaczek Andreas Bittl Karl-Leo Gäs

The social commitment of M go by one name – it has over

Than

22

Karin Paprotta Pilar Gonzalez Jens Niederberghaus Holger Hackländer Thomas Glockshuber Christian Keller Tanja Keilhammer Christian gen Heinle Harald Meyer Thomas Tilse Hans-Peter Rathjens Christian Subbe Tileman Fischer Stefan Einert Bettina Orlopp Heiko Bullinger srath Carmelo Vitello Anita Vitello Heiko Hering Judith Peter Stefan Weber Katja Lloyd Sebastian Sindel Günter Heimpel Michael Ortwein Christoph Ziegler Manfred Fromberger Gerhard Geidobler Joachim Kalt Matthias Archut Enrico Baumberger Andreas Bock Falko Langer chmidt Graham Waters Armando Mora Estrada Michael Schumacher Eike Ziehme Kerstin Baburske Carlo Kloss Marco Schwalbe Nicola igl Wolfgang Bruckmayer Thomas Geisbüsch Julia Röser Rachel Fischer Klaus-Dieter Herberg Oliver Bäte Clement Burns Booth Bernd a Dorothee Kruppa Andreas Uremovic Peter Engel Birgit Nadidai Tanja Christensen Angelika Schwarz Thomas Fuchs Sören Kupke Moritz a Dotterweich Thomas Haase Elke Oestreich Stefan Sörgel Michael Franzky Richard Oswald Caroline König Markus Geisberg Corinna Carolin Romer Bianca Waiblinger Arthur Recktenwald Christine Frasch Peter Ostertag Torsten Wahl Oliver Ziegert Gaby Henke Bruno öser Dieter Kampfmann Helena Djulabic Sabine Widmaier Sandra Schlund Markus Kühner Vanessa Burg Heiko Walz Miriam Obermayer enberg Thomas Haselberger Sabrina Sachsenmaier Nicole Hösl Axel Leckebusch Michael Schosser Jörn Halbauer Oliver Theis Karl-Heinz s Mehnert Fehmi Özkan Paul Ostmann Martin Sartor Melanie Vincon Stefanie Füger Elke Groß Kerstin Schießl Martin Sulz Stefan Kanzok Marcus Muncan Brigitte Pichl Conrad Vogel Steffen Wirth Elke Burgmayer Martin Fischer Thorben Flämig Heide Gorges Brigitte Preuß Büschert Elisabeth Bieler Thomas Matheis Elenia Quartucci Viktoria Hajas Sabine Hertel Janine Kreisel Christopher Schulz Andre Stammilian Schön Sylvia Stedefeld Silke Thinius Susann Woitow Thomas Zeidler Bernd Zilske Michael Kroiß Michael Reiner Ralf Siemers Sina ek Peter Seisler Ivo Alexander Ivanovic Carsten Salzwedel Marko Voigt Anja Fuchs Thomas Höppner Tina Schmidt Michael Girke Florian as Geyer Gabriele Ulbrich Heike Herwig Carsten Schmotz Martin Burg Stefan Notthoff Ute Galitz Christian Fikus Petra Schmidt Jana OsChladek Matthias Stender Frank Thielecke Jens Unger Christoph Wendlandt Bert-Siegmar Bauers Bärbel Iffert-Schmücker Ivonn Schulz a Ignatowski Sebastian Overlack Thomas Wirtky Christina Tittel Jeannette Kenzler Kai Langbein Michael Schwarz Doreen Wolfram Axel ke Gersema Sabine Grieger Elisa Niessing Josef Korte Marc Oerke Julia Winkler Eva Keller Herman-Josef Knipper Claudia Frenzel Brigitte Riegelsberger David Bachmann Udo Klotzki Barbara Kommerell Beatrix Meibeck Andreas Raabe Sabine Schulz Kemâl Selâmet Pascal n Lucha Silvia Just Sabine Milz Heinz-Norbert Dierichsweiler Michael Voll Ruth Weise Marc Lorbeer Peter Liegener Mareike Eickhoff JenPatrizia Pawelek Brigitte Baron Thomas Blees Roland Heller Serjoscha Keck Matthias Kramer Christin Laxa Anna Maslennikow Jochen ch Jan Broll Karol-Albert Englert Sandra Plato Katrin Wiegand Andreas Fritsch Janina Heinemann Christopher Kentzler Carsten Gruner Schröder Cornelius Wagner Sandra Duncan Elke Weitzel Guido Lauchstädt Markus Weiner Tanja Klima Eva Tholen Antje Sewing Florian anie Dickes Alexander von Hornstein Katrin Meyer Diana Köhler Julian Giesecke Isabell Rieken Weronika Stehr Bettina Clauss-Krüger Dirk Schäfer Hubert Häusler Harald Stettner Gülhan Bayram Ulf Pöckelmann Nadine Lefevre Mirko Kleinow Ina van Oel Reyk Grudzinski Schöne Andreas Nier Kai Mendisch Constance Kratsch Andreas Seifert Nikolaus Mikulaschek Nicole Pyttlik Julie von Zitzewitz Danny rer Wolfgang Brezina Martin Reents Matthias Heussner Carmen Regelin Jens Grote Karin Chan Inna Komelina Stefan Lummert Michael Gregor Kastner Robert Keller Bernhard Koch-Kemper Felix Emanuel Kress Melanie Maier Martin Neukirchner Antonia Rosenhuber JanBaumann Justine Anna Feller Hanns-Erich Finke Katrin Fröhlich Christian John David Kukulies Martin Lange Michael Rittgerott Christoph ahin Tim Kreutzmann Oliver Joch Richard Stoffelen Kathrin Bernhardt Franziska Merk Jürgen Berndt Friedhelm Schwall Angela Giacomo Hälke Markus Breuer Mathias Reese Mette Huth Amely Hansen Jennifer Kaltenberg Markus Elbers Stefanie Hagenmüller Jean-Bertraud er Birmans Francis Wesler Carola Stier Nicole Freymadl Jürgen Schneider Peggy Colditz Daniela Wicker Claudia Geilert Danijel Lipovac ss Toni Häusermann Jeanniene Rezaie Christian Meyer Volker Kramm Katharina Punke Bastian Kränke David Pohl Stefan Giel Wolfgang stoph Beumer Marcel Nellessen Kristin Kriemann Robert Wilkens Franziska Holler Stephan Isegrei Daniela Friedrich Wolfgang Ogl Stefan ne Bischoff Swolke Beckert Steffen Minier Robert Strobach Thomas Weber Thomas Eberle Janna Lorch Petra Staiger-Bott Ulrich Niklas Voith Markus Regner Robert Wiedenmann Viktoria Moll Stefanie Götze Stefan Siegel Hannah Gresch Ursula Böhle Tobias Graf Christian Juliane John Boris Künzl Silke Flizik Michael Hollerbuhl Marcus Mäusner Roya Ahmadi Aylin Somersan-Coqui Stefan Erhard Wolff Mandy der Prell Matthias Reinstädt Bernd Rexer Markus Schulz Markus Ibele Jan Sönksen Torsten Dietrich Lea Ianchello Götz Reichart Kerstin a Gallon Roman Göbel Alexander Münch Christian Schultes Oliver Trautwein Bernd Jenicek Jens Herbig Richard Gaulke Lars Pietzonka ner Franziska Elger Ullrich Mohr Zaid Louati Anne Klausmann Johannes Meier Nadine Michel Paula Santandreu Maria Schneider-Rusaken Geckert Maria Fröde Erich Götz Klaus Lendle Nils Höger Kai Westermann Stefan Walde Meike Martiny Veit Kallweit Chase Morgan denay Kaya Marcel Kneisl Gunter Huhn Melanie Groß Tim Hannewald Berit Korte Kristina Orec Christiane Ortel Michael Quander Arnold Smeddinck Kathrin Helm Rüdiger Bitsch Benjamin Rasch Eva-Maria Lamprecht Mario Hochholzer Frank Marquardt Tobias Huttenloher berger Marina Storhas Niklas Weiler Arlette Giese Andreas Wimmer Klaus Berge Gregor Thomas Matthias Ackermann Jan Kirrbach Marc nk Dederichs Kirsten Eckel Felix Schaar Jörg Aschenbrenner Mena Boekhoff Patrick Essig Stephan Reis Miriam Riccardi Andreas Schulz eys Knipprath Wolfgang Kosche Silvia Daniel Jochen Lehmann Maria Ser Reiner Klinz Katharina Kölbl Frank Lederle Gunther Peter Jörg sel Stefan Klotz Sabioella Hosseini Dominic Bühler Andreas Weichenberger Cornelia Schilling Lada Pittnerova Erik Rosenhäger Daniela Martin Schmücker Julian Zienicke Thorsten Miller Frank Kaiser Robert Reden Mirko Bunk Norman Tontsch Kai Kolepka Sebastian Rogge amal Carina Blenninger Sascha Scherbarth Jürgen Rokosch Nezahet Ceviker-Kacar Hartmut Klug Sven Petersen Jürgen Wende Bettina Georg Wilking Levin Wolff Metternich Andreas Fürst Thomas Sellmann Heike Nestler Mashal Aslami Rainer Hofmann Elisabeth Reinhard enbender Doya Ahmadi Jochen Ehlert Mark Grützmacher Astrid Küppers Theresa König Julia Linhart Ina Heinz Peter Otte Josephine AlVerena Kaiser Verena Rappel Christopher Sukarie Heike Otto Christophe Vaughan Anna Metzner Daniela Zingler Katharina Morbach Mia Knödler Corinne Damnik Laura Kuckelmann Wieland Guttzeit Ronny Guttzeit Anne Machts Ute Neumeister Kevin Eichhorn-Jeremias Hans-Georg Krumsiek Jörg Fuhrländer Britta Siebelink Andreas Pöhlmann Bente Borgmann Christine Eichmann Andrea Epper Manfred owski Raiko Worf Katarina Mai Sandra Breuer Sascha Conrad Jennifer Grünhagen Cornelia Fehlner Thomas Geyr Simone Goos Christian a Kohlmeyer Stefan Ganslmaier Bernhard Paulus Roman Niedermeier Manuel Meuth Matthias Thomas Münch Elmar Schobel Matthias el Elisa Jäger Tashina Kaiser Markus Rieß Matthias Balint Markus Konradt Angela Kleinhans Anthony Bandmann Silvia Lindemann Prasat ch Jane Uhlig Kerstin Lux Tanya Waeber Alexandra Kaps Dennis Schuhmacher Matthias Kern Tim Scheuerer Susanne Fröhlich Gabriela Britta Hornung Mario Pfennig Fabian Gatzka Ursula Stenmans Jan-Philip Brandt Sandra Berking Gerhard Falkenstein Andreas Kaunath

y Finance Coach doesn’t a 1,000 names.

nks

23

Teacher Training f and disciplines. Training courses and teaching aids help to integrate business and finance sustainably in the existing school curricula.

24

or all school types

25

Teacher Training

New teachers’ course on saving

Marshmallows and financial competence. Saving as a subject for classwork – the fourth Teacher Training module from Klett MINT on behalf of My Finance Coach describes surprising methods to teach the complex topics of saving and investing money.

The young boy can’t bear to look. The marshmallow on the plate in front of him is just too tempting. In one gulp, it would be gone. But if the boy stays patient, he has been told he will receive a second marshmallow. Finally, the time is up. And in a flash, it is not just one, but two sweets that put a big smile on the boy’s face. This experiment, known as the marshmallow test, illustrates what saving actually means – namely, the conscious renunciation of immediate consumption. The fourth Teacher Training course from My Finance Course approaches the topic from unusual but well-founded angles.

Extract from the contents of the training course 1. Functional skills and functional contents such as: - Differentiation between types of investments in terms of personal preferences, return after costs, liquidity and risk - Presentation of classic investment types - Tips for dealing with numbers and information 2. Psychological and cognitive aspects of saving such as: - Behaviour patterns - Decision-making processes - Motives and obstacles to saving

Why save anyway? Why does saving initially have nothing to do with investing? What criteria will help people save? Why is it difficult for me to save? The course developed by Klett MINT on behalf of My Finance Coach offers teachers a didactic introduction and background knowledge on finance. The course is supplemented by examples for use in lessons, such as encouraging lead-ins and worksheets. The teachers are also given an insight into the didactically prepared teaching material, which deals with topics such as the “magic triangle”, a model used to evaluate the characteristics of different saving options, or an overview of different types of investments. Through attending Teaching Training courses, teachers discover methods to convey basic economic knowledge to their pupils. The course encourages teachers to think about saving and investing themselves and also provides the teachers with the tools to prepare pupils for future financial decisions. As well as saving, there are training courses on the topics of: - Buying - Planning - Environment and Business The teaching material for all modules can be ordered after the course free of charge and with no advertising.

26

Teacher Training

In-school Teacher Training

On-site teachers’ courses. Private lessons for the teaching staff – a Finance Coach and a pedagogical expert come to the school premises to run a course for teachers.

My Finance Coach has developed Teacher Training modules on business and finance topics in cooperation with Klett MINT. There are three different ways teachers can participate in a training: events at Klett venues in larger towns, at schools or through e-sessions. Teacher Training sessions at schools are for 15 or more participants. On-site courses are advantageous for teachers because they are time efficient and eliminate travel costs. Teacher Training is an opportunity for teachers of years 5 to 10 (German school system) to familiarize themselves with the material offered by My Finance Coach, material which they later use to increase their pupils’ financial literacy. If it is not possible to attend a course in person, teachers can also complete the training from home by taking part in the e-sessions.

27

Teacher Training

E-sessions

Teacher Training with a difference: one computer, two clicks and you’re off. Online training courses from My Finance Coach for teachers are a flexible addition to the face-to-face events and represent a new dimension in the networking of educational partners. It is Monday evening, just before 7 p.m. and the Basic Training II, which includes the My Finance Coach modules Shopping, Planning, and Saving, is starting in a few minutes. There is just enough time to fetch a glass of water from the kitchen. Back to the computer, enter the chat room via the link and off we go. Today about a dozen teachers from different school types are taking part in the 90-minute Web seminar (webinar). My Finance Coach regularly organises webinars on business and financial topics for teachers. The webinars are created in collaboration with the e-learning centre at the Academy for Teacher Training and Personnel Management in Dillingen (ALP). Webinars eliminate travel time and costs and enable participants to work efficiently and flexibly from home - or, wherever the teacher wants, as long as he or she have a computer and stable internet connection! The webinars are live and moderated by professional staff such as Vanessa Nowak, the pedagogical director of webinars at My Finance Coach. She guides the participants through the course, presents contents and methods and makes suggestions on how the topics can be sustainably integrated into various subjects. She also keeps an eye on the participant chat room where lively debates often arise. For example, the participants ask questions such as, “How can interactive charts best be integrated?”, “How flexible are the formats provided?”, or “Are they suitable for my class?”. The virtual chat room enables a live and direct exchange of ideas and questions between the participants and the moderator. Within the chat room teachers’ personal concerns can be addressed immediately – just like in an in-person training. At the end of the e-session, the participants have the opportunity to order the teaching material for their lessons free of charge and without advertising. In addition to the Basic Training I and II, My Finance Coach, in cooperation with ALP, also offers an advanced course and an overview of all the training units in English webinars. For some of the participants, the webinar is the first time they have visited a chat room. “Dealing with formats like this also boosts our media skills and raises our standing with the pupils”, one of the participants positively stated.

28

Vanessa Nowak, pedagogical director of the e-sessions at My Finance Coach, guides participants though the live training course.

Module II: Planning

Teaching financial education (Years 5–10)

Lessons 5/6: Preparing a personal budget Lead-in (5 min.)

Repeat the financial situation of Felix and Lena Repeat the financial tips

Teacher–student talk Transfer (15 min.)

Blackboard

Think again about your personal financial situation Adjust financial tips to your personal situation

Individual work Teacher–student talk

Sheet 7 (How can

Compare with learning group

you cut your expenses

Note tips on the blackboard

or increase your income?)

Teaching unit 4

Exercise: How can you cut your own spending and increase your income? Write down keywords.

TEACHING AID

Practice (40 min.)

Prepare a personal budget (self-chosen target, period of

A3 sheets Worksheet 8

about one year) including all findings

Individual work

(Prepare a personal

Lesson unit 5

Exercise:

Lesson unit 6

budget)

Prepare a budget for a target that you would like to reach in about a year. This can be a fairly expensive purchase, but also an educational goal (e.g. to learn a foreign language) or a combination of the two.

Evaluation (20 min.)

• Present budgets to one another in small groups.

BASIC TRAINING II

Students’ budgets

• Particularly good budgets are presented to the whole

Student presentation

class.

Lesson unit 1 Reflexion (10 min.)

Reflect on the teaching sequence Planning

Blackboard

Students formulate theorems

Whole class

Other students indicate dis/agreement by show of hands Voting may be recorded in writing Exercises: 1. Think. What have you learnt? What is particularly helpful for your budget? 2. Formulate theorems, e.g. I have learnt that needs keep changing.

Buying

Planning

Saving

3. Read your theorems to the class. 4. If you think the theorem applies to you, raise your hand. If you don’t agree after hearing the arguments, vote accordingly.

30

The programmes describe what happens during the lesson and the side columns include tips on teaching method, times and learning objectives as well as the worksheets and material required.

Worksheet 7: How can you cut your expenses or increase your income?

Worksheet 8: Preparing a personal budget Exercise: You have heard the example of Felix and Lena and given them tips on how they can achieve their goals. Now it’s your

How can you cut your spending?

turn. Prepare a budget for a goal you would like to achieve in about a year’s time. This could be a fairly expensive product you would like to buy and that you can’t afford at the moment. But it could also be something else that you would like to learn, such as a foreign language or a sport. In addition to money, your budget will then have to include other resources, e.g. time for training or learning vocabulary. That makes it harder! Use the following suggestion to help you with your budget. 1. First think about what you want to prepare a budget for. 2. What resources do you need for this goal (money, time, help from others, etc.)? Draw up the corresponding overviews of income and expenses. How much money or time do you have already (income side)? What does it cost altogether (expenses side)? 3. Now think how you can reach your target and prepare a monthly or weekly plan by writing down how much money or time, etc. you have to invest to reach the goal. Don’t forget holidays and don’t be too ambitious (it’s better to set a smaller amount and be consistent).

Example:

How can you improve your income?

Jan.

Total resources:

Feb.

€ 50

Mar.

Apr.

May

June

July

Aug.

Sep.

Oct.

Nov.

Dec.

Etc.

ten hours training

4. Correct your goal if you notice that you won’t be able to reach it within a year or if you will get there much earlier. 5. Set a milestone you would like to reach at the halfway stage of your plan. 6. Present your plan to the group and incorporate their suggestions.

Exercise: How can you cut your spending or boost your income. Write down suggestions.

© Als Kopiervorlage freigegeben. My Finance Coach Stiftung GmbH, München 2013

© Als Kopiervorlage freigegeben. My Finance Coach Stiftung GmbH, München 2013

Two worksheets from Module II Planning: pupils work out how to reduce their expenses and increase their income and prepare their own monthly or weekly plan to achieve a personal goal.

Teacher Training

Teaching aids

Anything but teaching by rote. Teaching material by professionals for professionals. The new teaching aids for years 5 to 10 were developed for teachers by Klett MINT. Modul I: Umgang mit Risiken

The range of teaching modules available for economic Methodisch-didaktischer Kommentar education comprises three units (corresponding to the My Finance Coach curriculum): Basic Training Training II andare to work out Two worksheets from ModuleI, IIBasic Planning: Students Advanced Training. The topics they present can be taught as and should how to reduce their expenses and increase their income independent units or in conjunction with each other for a cumuprepare their own monthly or weekly plan to achieve a Two workslative overview. The are IIdesigned provide heetsmodules from Module Planning: to Students arean to overwork out how to review of target skills, methodological approaches, key learning duce their expenses and increase their income and should prepare contents and potential After the have com- goal.. their ownoutcomes. monthly or weekly planpupils to achieve a personal pleted all modules of one training, they receive a certificate.

!

Differentiation option MindMap on global warming Activate prior knowledge Sketches on the blackboard Sketches on the blackboard about the principles of the greenhouse effect can be used as an alternative to the lead-in slide (About Year 10) Additional material 4: global warming

as well as the worksheets and material required. The

The teaching materials are designed that teachers programmes describeso what happens duringfrom the lesson and disciplines other than economics are able to familiarise themthe margins include tips on teaching method. selves quickly and efficiently with each topic. A list of target outcomes is included with each topic. Each topic also includes The programmes describe what happens during the lesson and an agenda and overview enabling the teacher to structure the and learning the margins include tips on teaching method, times lesson and easily prepare. In each section of the lesson there objectives as well as the worksheets and material required. The are “differentiation options”describe detailed, such as exercises forlesson dif- and the marprogrammes what happens during the ferent age groups and additional material. These suggestions gins include tips on teaching method, times and learning objectives and potential variations enable teachers and to modify lesson as well as the worksheets materialeach required. The programmes appropriately fordescribe the class level and individual requirements what happens during the lesson and the of margins include the students. Master all thetimes necessary worksheets, tips on copies teachingof method, and learning objectives as well as the slides and otherworksheets material (lyrics, photorequired. sources,The statistics) are describe what and material programmes available in thehappens annex.during An answer section provides model the lesson and the margins include tips on teaching answers for all exercises and and worksheets. Each course includes method, times learning objectives as well as the worksheets and a glossary listingmaterial and defining all the technical terms used. The required. last section is a list of outside sources where the pupils and teachers can obtain additional information regarding the topic of the lesson. The attached EcoDisc includes all the material in digital form so that a whiteboard and beamer can be used as an alternative to the blackboard and overhead projector.

Independent work to list the effects of global warming Could be given as homework in preparation Presentation topic: global warming Instructions for role play Joint discussion to prepare: what could the goals and strategies of the players be? Assistance from sample answers on the role play cards Other observation criteria Observe gestures and facial expressions of the role players Write down compromises Presentation topic: other players in climate politics Also suitable as homework Differentiation options enable the proposed lesson to be adapted to the situation and requirements of the individual learning group.

The knowledge acquired in the Teacher Training courses  and the suggestions for activities are summarised in the teaching aids. These help the teacher use what they learned during the Teacher Training in an everyday classroom situation. Differentiation options enable the proposed lesson to be adapted to the situation and requirements of the individual learning group.

31

Beyond the school Extra-curricular Ac Whether it is the National Finance Competition, a play town, or a learning festival, the focus of each Extra-curricular Activity is edutainment – a bridge between education and entertainment.

32

gates: tivities.

33

Extra-curricular Activities

Holiday academy

No money, nothing to buy – Pupils discover the world of finance.

At the holiday academy organised by the START-Stiftung in cooperation with Universität Hamburg and My Finance Coach, pupils learn about money and finance – and all during the Easter holidays.

Although many pupils do not really want to spend their wellearned Easter holidays studying, 19 START scholarship holders from all over the world voluntarily met at the Bernried Monastery in Bavaria in early April to discover the basics of financial education. The school scholarship programme, START, targets young people with an immigrant background who plan to attend university. START encourages the scholars to become involved in their community which aids social integration. Basic skills in business and finance are a necessary part of successful integration into a community. My Finance Coach helps the START-Stiftung scholars to develop these skills. “Ohne Moos nix los” (No money, nothing to buy) is the slogan for the holiday academy, where several Finance Coaches taught financial lessons to the young people. “What does it actually mean to stand on your own two feet?” The Finance Coaches ask this to highlight what it means to move out of your parents’ home. They make sure the young people consider all aspects by asking questions such as, “How much money do I have?”, “What are my monthly expenses?”, or “What can I afford to buy?” and helping the young people answer these questions realistically. Professor Barbara Scheck from Universität Hamburg came to Bavaria to teach the START-Stiftung scholars about business studies and entrepreneurial spirit. She and other lecturers also shared their experiences and talked about their everyday work.

34

The START-Stiftung scholars also got an inside look at a company through their visit to both a production plant operated by Agfa Healthcare and a monastery. After five packed days, one of the participants summed up the experience by stating it was, “The best holiday academy I’ve ever been to”.

In July 2013, My Finance Coach and the Roland Berger Stiftung organised a workshop in Bavaria for pupils with scholarships from Deutsches Schülerstipendium. As with the START holiday academy, the young people discussed the topic of “How to set up and manage a household” and the right way to deal with risks.

35

Extra-curricular Activities

National Finance Competition.

Editor or managing director for two days. To think and act like a business person, develop professional and social skills, and the chance to win 1,000 euros for your class – the National Finance Competition is an opportunity for all this and more! Having money is a good feeling. Earning it yourself is even better. But how does one earn money? What makes a company successful? What problems have to be solved and how does a business deal with competition? Together with Stifterverband für die Deutsche Wirtschaft (innovation agency for the German science system) and Klett MINT, My Finance Coach has developed a unique competition that gives pupils in years 5–10 (German school system) from all school types and disciplines informative answers to these and many other questions concerning business. The National Finance Competition aims to generate enthusiasm for finance, often thought to be a dry subject; to highlight the benefits of diverse teams through group work; and to develop public-speaking skills and self-confidence. In addition, the competition endeavors to make the participants informed citizens of a market economy by incorporating career advice into the activities. In 2013, 825 pupils from six federal states of Germany applied for the competition. Inspired by the slogan, „Money checken, Party machen, Berlin erleben“ (Stash the cash, party and visit YEAR

S 5–1

Financial geniuses wanted for trip to Berlin

0

Take part with your students and win a prize in the National Finance Competition 2013/2014. Finance and business are neither dry nor boring! We are looking for school teams from all over Germany to take part in a challenge with their teachers. The 50 best teams in the first round will each win € 200. The best of the best will go to the final in Berlin and compete to become the Federal Champion. Registration and all the information about the competition is available from www.bundeswettbewerbfinanzen.de

Closing date: 28. Februar 2014

Bundeswettbewerb Finanzen

2013/2014

www.bundeswettbewerbfinanzen.de

The next competition 2013/2014 has already begun. Entries must be received by 28.02.2014.

36

Berlin), the pupils applied for the competition by submitting a plan to fund and organize a school party. Eleven groups, consisting of 44 boys and girls, qualified for the final, which took place on September 27 and 28, 2013, in Berlin. In the final round, the qualifying participants from years 7 to 10 (German school system) managed a company in a business game. The finalists were divided into new groups and developed a business plan for their company. To do this, each team calculated supply and demand for their product, determined the appropriate price of the product, created marketing strategies and defended their market share. Ultimately, each team’s competitive success depended upon their team spirit and entrepreneurial skills as well as the individual team member’s ability to work well together, problem-solving and presentation skills. Finalists from years 5 and 6 (German school system) edited a newspaper with help from journalists at WirtschaftWoche during the final round. The finalists interviewed Hasan Salihamidzic, a former professional footballer who is now a football expert on television, on his experience with financial decisions. Thanks to a Teacher Training course focused on expanding the teachers’ personal knowledge of business and finance during the competition, the trip to Berlin’s European School of Management and Technology was just as rewarding for the teachers who chaperoned as for the pupils who participated. Teams can now register for next years competition until February 28, 2014. The next competition includes some exciting new features. For example, it is now open to German-speaking pupils from around the world which will broaden the diversity of the participants and promises to result in even more innovative outcomes!

www.bundeswettbewerbfinanzen.de

37

Extra-curricular Activities

WirtschaftsSchule

Business and not celebrity gossip. Teen magazines used to attract their readers with gossip and collectible posters of pop stars. Today, teen magazines are just as likely to attract readers with articles on business and finance.

This time the title story is about chocolate and its raw material, cocoa – which is, like so many other raw materials, a limited resource. Does this mean we have to say “goodbye to chocolate?”, ask the pupils in years 8 to 10 (German school system) who are already immersed in the article on limited resources in the issue of WirtschaftsSchule magazine entitled: Consumption, Climate, and Energy. WirtschaftsWoche prints special editions of the magazine for schools called, WirtschaftsSchule, without advertising on behalf of My Finance Coach. The special issues discuss relevant questions relating to the environment, work and business. They provide background knowledge in the form of text, pictures and diagrams.

Sport and finance.

Sustainability and energy.

For each issue, a textbook publisher develops worksheets for the pupils which include teaching aids and model answers for the teachers. These align the main topics of the magazine with the school curriculum so that all the contents can be integrated into regular lessons – for example, in German or in social and natural science subjects. This helps teachers to reinforce the media, subject-based and social skills of their pupils and to enable them to participate in discussions of socially relevant topics.

Career advice.

Sustainability and nutrition.

Sample question from the worksheet for the issue on career advice: “Can you, as consumers, contribute to reducing the exploitation of workers in poor regions of the world? If so, how? Form small groups, think of ideas and potential solutions and discuss them.”

38

Extra-curricular Activities

Monthly specials

Anything but boring. My Finance Coach’s edutainment approach carries over to the website as well. The monthly specials on myfinancecoach.org combine education and entertainment. And there’s a new one every month.

“How much pocket money do teens and young adults between  14 and 24 get a month?”, “How do Germans try to save money on shopping?”, or “What is the carbon footprint of a flight to my favourite travel destination?”. Each month, www.myfinancecoach.org offers new quizzes, surveys, infographics, expert advice, educational video clips and additional resources on topics ranging from buying, planning and saving to managing risks and the relationship between business and the environment. Monthly specials are also created for special occasions over the course of a year. For example, during the European Song Contest in Malmö, Sweden, in May 2013, the special was dedicated to the music industry, music marketing, copyright issues and illegal downloads. Of course, the September 2013 special focused on the German federal elections.

for research. The website also offers additional material to the ones used during class visits. For example, one extension focuses on how to research homework assignments. Many pupils and whole school classes will again be looking forward to the Advent Calendar in 2013 – a special online event every December. The tricky questions and the first prize draw for vouchers and cash prizes obtained a very positive response in 2012: a total of 68 school classes with around 1,700 pupils as well as 716 individuals took part. The high level of participation demonstrates that edutainment is a popular learning tool with young people.

Following a thorough revision and successful redevelopment of the website in June 2013, the different modules now feature short text articles. These draw connections between subjects and give pupils more detailed explanations and opportunities

Every month, interesting information, quizzes, videos, surveys, helpful sources and links and lots more are published on relevant topics at myfinancecoach.org.

39

Extra-curricular Activities

App: MFC Geldmanager

App, app and away. For many young people a day without their smartphone is inconceivable! The new app, MFC Geldmanager (money manager), makes this permanent companion a practical assistant for keeping an eye on personal finances.

One challenge in schools is to ensure that lessons taught in the classroom carry over to the pupils’ everyday life. The core themes from the My Finance Coach trainings on “Buying”, “Planning” and “Saving” were incorporated into the new MFC Geldmanager app in order to provide a relevant, real-life learning tool for the pupils outside of the classroom. The app enables young people to keep an eye on their income and expenses, it motivates them to think critically about their own consumption and saving patterns and it supports a budget conscious attitude towards their own (pocket) money. Users can record their income and spending via various preset and user-defined categories in the form of icons from the main menu. They can look at a savings account and a monthly overview or draw up an analysis of the main categories of expenditure.

40

The app was developed through a partnership with pupils in the interdisciplinary course, Finance and Information Management, at both Augsburg University and Technische Universität München (Bavarian Elite Network). Students developed and presented a number of different concepts for the app. The final decision for the Geldmanager was chosen jointly with the MFC advisory committee. Another idea for a learning game app is being developed. Since September, the MFC Geldmanager is available for free download from the app stores at Google and Apple.

To the app

ANDROID

iOS

41

Extra-curricular Activities

MFC on tour

Tracking down piggy banks and magic triangles. My Finance Coach presents useful financial and business knowledge in a fun and engaging way by participating in many festivals for children and young people.

One core objective of My Finance Coach is to teach children and young people to live responsible, autonomous lifes. To achieve this, My Finance Coach teaches long-term and holistic skills which will continue past school life.

2 of ce pri ly! the on or ay 3 f ne d –o

ca they een already s e. ture of m

My Finance Coach participated in the 11th Child and Youth Festival in Stuttgart, which had around 70,000 visitors this year, and the 16th TRIER SPIELT, the biggest games festival in the region. My Finance Coach developed a quiz wheel and information panel based on the My Finance Coach curriculum for the festivals. With the quiz wheel, visitors answered tricky questions about the three pillars of sustainability or the decision-making criteria for an investment. The information panel provided hints and explanations for the answers. The visitors simultaneously got to play a fun game and learn about business and finance – they even won a prize for answering correctly! Parents and teachers had the opportunity to participate in the games alongside their children and pupils. Through this joint effort both the adults and the children benefited from the diverse financial information provided by My Finance Coach. Having adults engage with children on financial topics ensures continued dialogue and learning in the future.

1. What sort of things should you buy first? Things I need Things I’d like to have Things my friends have

2. What is the point of advertising?

Time ta Sche ble, du Budg le, et?

To represent real life and provide you with information To arouse your interest, create needs and sell you something To sell you a better life

Sample quiz card for one of the six topics.

ybank The pigg agic and the m triangle.

impressions from the child and youth festival in Stuttgart.

Extra-curricular Activities

Trade fairs

Loyal guest. Every year, My Finance Coach takes part in didacta, Germany’s biggest trade fair for education. This year we had a joint booth with Klett MINT.

The first joint booth for Klett MINT and My Finance Coach.

For My Finance Coach, the didacta 2013 was a very successful event. Besides making new contacts to secondary schools throughout Germany, My Finance Coach also had many fruitful discussions with various representatives from education service providers. My Finance Coach endeavors to incorporate general financial education into interdisciplinary lessons or subjects outside of economics and finance. One way this was accomplished was

through a joint presentation with German Air Traffic Control, under the common umbrella of Klett MINT. The announcement that new teaching aids will soon be released received great enthusiasm from the attending teachers. The didacta is always a valuable experience for My Finance Coach because it is a chance to receive feedback from both teachers and partners in education.

Handelsblatt goes to school At the “Handelsblatt goes to school” event on November 19 and 20, 2012, in Berlin, Dr Dierk Suhr (managing director of Klett MINT) and Christian Keller (managing director of My Finance Coach) presented Teacher Training courses on economic topics. By teaching the basics of business and finance in multiple disciplines and to both teachers and pupils, My Finance Coach aims to ensure that this knowledge is sustained beyond the lesson. The German Chamber of Commerce and Industry sited the need for all secondary schools to prioritize mathematics, technology and computer and natural sciences as well as the need to focus on the basic economic education of the pupils. Through a partnership the publisher Klett MINT and My Finance

44

Coach have developed a comprehensive range of informative teaching materials addressing these topics which could fulfill the needs highlighted by the German Chamber of Commerce and Industry. Other subjects addressed at the conference included the position of schools and business on a nationwide Abitur, the school-leaving exam that opens the door to study at university, the opportunities offered by the business community to prepare pupils for the labour market and the pros and cons of private investors in schools. Overall, “Handelsblatt goes to school” was a rewarding event resulting in numerous constructive suggestions and networking opportunities for joint projects in the future.

Extra-curricular Activities

German head teachers’ congress

Head teachers discover My Finance Coach – dialogue with decision-makers. From March 7 to 9, My Finance Coach informed teachers of the wide range of products and services available at the German Head Teachers’ Congress 2013 in Düsseldorf. Head teachers are the decision-makers responsible for defining the school profile and organizing collaborations with external partners. My Finance Coach had a booth at the German Head Teachers’ Congress to present its learning programmes, especially in-school Teacher Training, and to distribute detailed information on the range of the products and services available. Head teacher Christine Georg from the Philipp-Reis-Schule in Gelnhausen and Christian Keller from My Finance Coach presented during the Best Practice Forum how your school can receive the “Seal of Approval for Career Advice”. The Seal of Approval for Career Advice is awarded to schools that offer exemplary advice on further education and vocational training. The certificate increases the competitiveness of the school and is also awarded to recognize past work by teachers. The Seal of Approval is also a form of quality management because once a school receives the award, their career advice office will experience regular audits to ensure it maintains a high standard and continues to develop its programs. The Seal fosters dialogue between schools and business by both connecting the certified schools with one another and because the regional Seal Judge Committees is a mixture of educators and businesspeople. For example, 70% of the committee are representatives of trade and professional associations, foundations, companies or the German Federal Agency for Labour. The other 30% work in various areas of the secondary education system.

Copyright © 2013 Wolters Kluwer Deutschland

The comedian Eckhardt von Hirschhausen talking to the TV presenter and former teacher Nina Ruge.

Including economic education in the curriculum of educational and vocational training is necessary for that curriculum to be considered well-rounded. My Finance Coach helps schools to retain the Seal of Approval by providing the tools to incorporate economic education into career advice activities and maintain a well-rounded curriculum. The German Head Teachers’ Congress is one of the most important events in the education sphere because it results in common answers to current questions. Around 2,000 head teachers took part this year. They left with lasting impressions of the event and gained useful knowledge for their daily work through presentations, panel discussions, best practice forums and workshops.

45

Extra-curricular Activities

OECD conference

Very different countries, one topic. The promotion of general financial knowledge is at the top of the agenda worldwide. Its success requires the commitment of many parties, particularly important are the G20 states and the OECD.

G20, the group of the 20 most important industrialised and emerging economies, and the OECD, the Organisation for Economic Cooperation and Development, dedicated two international conferences with influential delegates to the subject of general financial education in 2013. In mid-June, the Conference on Improving Financial Literacy and Enhancing Consumer Protection ­Systems was organised in Moscow by the Russian presidency of the G20 and supported by the World Bank and the OECD. Amongst other things, it focused on the need to convey general financial knowledge and basic skills to young people at an early age. This is a central tenet of most national financial education strategies. For many years, the OECD has been emphasising the enormous importance of financial education and promoting its early teaching. For the first time, the PISA test carried out by the OECD in 2012 included questions on the knowledge of and attitude to personal finances of 15-year-old pupils. It is the first large-scale international study to evaluate the financial knowledge of young people. The results are expected to be published in early 2014. Enhancing economic welfare by means of financial education and awareness was also a key theme of the conference held on May 16 and 17, 2013, in Prague.

At the invitation of the OECD, My Finance Coach was also represented and so was able to make a small contribution to a large common objective. High-level representatives of finance and education ministries, central banks, regulatory and supervisory authorities, national governments, universities, consumer protection agencies and other non-governmental organisations discussed efficient methods of ­financial education and consumer protection. In particular, they addressed the greater empowerment of the next generation. The OECD directs the International Network on Financial Education, INFE, to facilitate a continuous exchange between all parties. The platform, on which My Finance Coach is also present, serves as a global forum for exchanging ideas on financial and consumer education and provides access to comprehensive information, data, sources, research findings and news from around the world. Further information is available at www.oecd.org/finance/financial-education

Transparent, balan neutral and intern My Finance Coach is part of an international movement with high quality standards for long-term education.

48

ced, ational.

49

Other topics

Work placements at MFC

Getting to know each other. My Finance Coach arranges in-house work placements for interested pupils that give them an initial insight into life at work. The pupils are accepted regardless of their educational background or health.

Experience working together and become a full member of the team. Take on responsibility and develop personal strengths. Make a contribution and put your own ideas into practice. For young people with few academic qualifications or physical disabilities, it is particularly difficult to experience these valuable aspects of working life and to benefit from them in their personal development. This is why, through work placements, My Finance Coach integrates young people with a wide range of backgrounds firmly in internal workflows, promotes diversity and so makes a small contribution towards greater educational equality. After finishing secondary school last year, 16-year-old Levin completed a work placement at My Finance Coach as part of a year-long training programme to prepare him for work. Levin made phone calls, organized the office, created content for the website, updated data, prepared materials, took minutes and participated in class visits. In his blog on myfinancecoach.org, Levin describes his two week work placement as “very informative and successful” and states that he “would like to take part in another work placement in this field”.

Levin, 16, talking to his colleagues from My Finance Coach.

The story of 17-year-old Marian is particularly impressive. Since birth, Marian has been paralysed from the neck down, but she still looked for ways of gaining practical working experience. As part of her year of preparatory training for work at the Bavarian School for the Physically Disabled, she supported My Finance Coach during a two week work placement in April 2013. She worked in the team, answered the phone and was responsible for her own projects. Working with Marian was very rewarding for both sides. Marian, 17, talking to the two Finance Coaches Greta Kruppa and Andreas Uremovic about class visits.

50

What are my first impressions? “In the first few days, I found out how varied the job of an office clerk is. I learnt that you have to talk to people on the phone a lot and that you should have a good memory and a good working relationship with colleagues.” Levin

What defines a work placement for school pupils? “For pupils, a work placement is an indispensable part of finding out about a career. It is the best way of collecting information about a job, getting to know the surroundings and the business and finding out whether the job fits with your personal strengths and interests.” Source: planet-beruf.de

51

Other topics

International activities

Globetrotting for financial education. Ten countries have adopted the concept of My Finance Coach since it was launched in 2010. My Finance Coach is a role model in an international movement dedicated to the financial education of young people.

In May 2011, My Finance Coach had its first class visit outside of Germany in the Indonesian capital, Jakarta. The project was so successful that other countries in Asia followed its example. Malaysia and Thailand introduced the initiative in 2012. Later in 2012, the Finance Coaches started work in Argentina, followed in 2013 by Brazil. Within Europe, My Finance Coach was launched in early 2013 in Ireland and then in the United Kingdom. France, Poland and Sri Lanka are preparing to introduce the social enterprise initiative in autumn 2013.

After this training, the work begins in the manager’s home country. Internationally, My Finance Coach is always a voluntary project. The interested company must find volunteers to be Finance Coaches and then, the project can start. Teaching material is adapted for the country and translated into the local language and an appointment is made for the first class visit to a school that has expressed an interest. Because the content of My Finance Coach is adapted to the local situation, the project always has the local flair of each country.

Obviously, the importance of sufficient economic knowledge has been recognised, but how does the roll-out of My Finance Coach to another country actually work? How do the unique circumstances, culture and society in each country affect the initiative?

As soon as all this has been completed, the first class visit takes place. This is how My Finance Coach helps young people to acquire financial skills at an international level as well.

The launch of My Finance Coach in another country begins with a process that could be called “social franchising”. If an overseas office of one of My Finance Coach’s partners or sponsors is interested in introducing the social enterprise initiative, the project manager is invited to Munich for a two to three day workshop. Here the manager is familiarised with all the contents and given the My Finance Coach teaching material. He or she also participates in a class visit at an English lesson in a German school.

Global Money Week One impressive example of this international movement is Global Money Week. In March 2013, it involved 185 organisations in 80 countries with more than 1,000 activities and over one million children and young people. The aim of the week was to spark an interest in financial topics in children and young people. My Finance Coach was represented in several countries. For example, one way My Finance Coach participated was through Skype calls between a year 6 pupils in Germany and a class of the same level in Uganda. The children discussed their different experiences with money. In Malaysia, specially trained Finance Coaches visited a school for the hearing-impaired demonstrating that financial skills are important for everyone. In Indonesia, financial education courses were taught to 160 street children.

52

Impressions of class visits in Ireland, Malaysia, Thailand and England.

Other topics

International activities

A global presence. My Finance Coach also pursues the goal of general financial education at an international level, further emphasising its holistic, didactic approach.

ireland Junior Achievement Ireland is an educational organisation active in Ireland since 1995, which has been working with Allianz plc since 2002. From March to May 2013, they initiated the launch of the My Finance Coach training module Shopping in Dublin. When it came to putting the project into practice, the CEO Brendan Murphy and his senior management colleagues also took part as volunteer Finance Coaches – with great success: 79% of the participating pupils said that they had acquired new financial knowledge thanks to the workshops.

Argentina The work of My Finance Coach in Argentina began in 2011 after Antonio Di Giorgio experienced a class visit in Munich. Filled with enthusiasm, he quickly found volunteers to help with his project. Adapting the My Finance Coach modules for the Argentinian education sector turned out to be a bigger challenge, however. In order to make the subject of finance more accessible, they used “surprise boxes” for each topic, which the pupils opened at the beginning of the workshops. Entertaining characters were also developed to aid comprehension of the individual focus areas.

Brazil In April 2013, My Finance Coach started in Brazil with an internal campaign to recruit volunteers at Allianz Brazil. The first class visit was conducted by the CEO, Edward Lange, and the Executive Director of Institutional Relations, Ingo Dietz. They see their work as Finance Coaches as both essential for society and rewarding for their personal development. Here, too, the work of My Finance Coach is to be continued and intensified in future.

Belgium Leading experts, specialists and pathfinders for the future of financial education for children and young people met in Brussels for the first Child and Youth Finance Regional Meeting for Europe and Central Asia. From November 6 to 7, 2012, the 346 participants from 83 countries discussed a number of topics, including how to make the financial education of young people a focus of regional policy, in order to tackle the problem of youth unemployment running at 20.8% in Europe.

England Following the successful UK launch of My Finance Coach in March 2013,  the Paddington Academy in London introduced “Money Week” in late June/early July. With material from My Finance Coach, localised by Grey and supplemented by contributions from the teaching staff, 34 Finance Coaches from companies in London conducted 32 classes and taught them about Shopping, Planning, Saving and Business and Environment. Money Week was organised with great dedication from all concerned and the unprecedented cooperation between teachers and Finance Coaches gave the young people a positive experience of lasting value.

Poland The first My Finance Coach class visit in Poland took place in autumn 2013. Initial responses from schools, volunteers and financial experts has been very positive, further class visits are planned in the future.

Thailand In Thailand, the Finance Coaches conducted five class visits with a total of 210 pupils and conveyed valuable financial knowledge in theoretical form and as practical business examples. A course for teachers also passed on extensive information about shopping and consumption to ten teachers, in order to ensure more widespread coverage of general financial education for young people.

Malaysia Since 2012, around 200 Finance Coaches have trained 1,900 pupils in 22 schools. As part of the Global Money Week 2013, a special My Finance Coach training course was organised for hearing-impaired pupils at the CUED Speech Centre. For this special class visit, the Finance Coaches learnt some rudimentary sign language and found that the pupils were very active and motivated to discuss opinions and suggestions.

Turkey From May 6 to 9, 2013, the Child and Youth Finance International Global Summit & Awards took place in Istanbul, enabling 150 pupils from all over the world aged 8 to 18 to get to grips with the central financial topics of our age. In addition to a varied programme of visits and entertainment, the participants took part in interesting workshops and activities on subjects related to young people and finance. The winners of the National Finance Competition 2012 were there with their teachers, too, and were able to participate in the development of insights and recommendations for political decision-makers.

indonesia The work of My Finance Coach in Indonesia began in May 2011. Since then, 250 Finance Coaches have taught more than 4,500 pupils from 30 different schools to be “financially fit” by sharing their knowledge. On March 15, 2013, during the celebrations for Global Money Week, 12 Finance Coaches in cooperation with YCAB, one of the largest foundations for youth development, gave lessons to 187 unemployed young people in 6 groups on the subject of finance, in order to support them on their path to a successful future.

Other topics

Advisory committee

Advisory committee report. The scientific advisory committee of My Finance Coach also worked hard and towards results this year. Due to the positive feedback and inspiring suggestions the Advisory Board received last year, they have included two new innovations as a regular part of their advisory work. One of the innovations became a standard agenda item for all meetings: “New developments from the professional domains of the advisory committee members”. The other is an additional advisory committee meeting concentrating solely on specific subjects, in which particular topics can be discussed in more detail with the corresponding experts. So far the topics under discussion have included Inclusion, Career advice at schools and Entrepreneurship. This exchange of professional opinions fosters discussions on updates and refinements. Chair of the advisory committee: Dr Eva-Maria Kabisch.

This year, we concentrated mainly on two topics: - The results of the evaluation - The dialogue with the Federal Association of Consumer Protection (vzbv) In November 2012, Professor Winter from LMU München presented the results of his first study to measure the effectiveness of the My Finance Coach training units. The results suggest that My Finance Coach leads to a higher level of knowledge in economic and financial matters among pupils. The results also led to a revision of My Finance Coach’s offers, such as teaching materials. At the advisory committee meetings in 2013, Winter and his team presented their thoughts for a more in depth study for 2014. The dialogue with a representative from the vzbv took place in an atmosphere of openness, and despite different positions, common ground was found between the goals of My Finance Coach and consumer protection. One such goal is to positively and competently inform young people to deal with money, consumer rights, economic and financial policy in order for them to become informed citizens of a market economy and responsible consumers. Both parties agreed that financial and consumer education were two sides of the same coin. At the next meeting, the focus will be on the presentation of the results of the 2nd evaluation, which have now been finalised, and the dialogue with the vzbv again. Another result of the discussions and suggestions is to plan an 8th training module on the subject of “Career Advice”, which we feel is vital for young people. Overall, commitment, professional competence and the willingness to engage in open, critical dialogue with expert partners has resulted in constructive feedback for My Finance Coach.

56

Gerhard Brand Chair of the Association of Education Baden-Württemberg VBE (Landesverband Bildung und Erziehung) | Member of the advisory committee

Christine Georg Head teacher of Heinrich-Kraft-Schule in Frankfurt/Fechenheim since summer 2013

| Member of the advisory committee

Robert Hasse Managing director of START-Stiftung | Member of the advisory committee

Dr Eva-Maria Kabisch Former Senior Official of the Berlin Department of Education

| Chair of the advisory committee

Heinz-Peter Meidinger Chair of the German Philology Association | Deputy chair of the advisory committee

Professor Michael-Burkhard Piorkowsky Professor for Home and Consumer Economics at the University of Bonn | Member of the advisory committee

Professor Manfred Prenzel Susanne Klatten Endowed Chair of Empirical Education Research at TU München and Dean of the TUM School of Education | Member of the advisory committee

Professor Barbara Scheck Junior Professor of Business Studies, specialising in Social Investment at the University of Hamburg | Member of the advisory committee

Roland Tichy Editor of WirtschaftsWoche | Member of the advisory committee

57

Other topics

Finance

Charity, not profit. As an operating non-profit organisation, My Finance Coach Stiftung GmbH only pursues charitable objectives. These are financed by donations from partners, sponsors and supporters.

On August 23, 2012, My Finance Coach Stiftung GmbH was notified by the Tax Authority for Corporate Entities in Munich that the company was granted tax-free status defined in Section 5, paragraph 1, No. 9 of the German Corporation Tax Act because it exclusively and directly pursues charitable purposes within the meaning of Sections 51 et seq. of the German Tax Code. This means, My Finance Coach Stiftung GmbH can issue tax-deductible receipts on official forms for donations made to it in accordance with Section 50, paragraph 1, of the German Income Tax Implementation Regulation. The company has no business activities in addition to its charitable work. My Finance Coach is a member of the Initiative Transparente Zivilgesellschaft (Transparency Civil Society Initiative) In the calendar year 2012, My Finance Coach received donations from Allianz SE and KPMG AG Wirtschaftsprüfungsgesellschaft, which each accounted for more than 10% of its total annual income. Since April, the impact of My Finance Coach has been boosted further thanks to Volkswagen Financial Services, Braunschweig, as a national partner, and Deutsche Kreditbank, Berlin, as a regional sponsor. My Finance Coach Stiftung GmbH is affiliated in company law with Allianz SE, which is its sole shareholder. The funds donated have largely been used to carry

out various projects in the areas of in-school offers, Teacher Training and Extra-curricular Activities, such as the National Finance Competition. A considerable percentage of the funds have been spent on staff expenses, since My Finance Coach Stiftung GmbH mostly manages and carries out projects with its own staff. My Finance Coach Stiftung GmbH has prepared financial statements as of December 31, 2012, in accordance with the German Commercial Code and the GmbH Act. At the order of the management, the financial statements and accounts of My Finance Coach Stiftung GmbH were audited on a voluntary basis by the independent auditors RHS and subsequently resulted in an auditors’ report which contained no objections. The complete financial statements as of December 31, 2012, were disclosed to the Elektronischer Bundesanzeiger and can be viewed there free of charge.

Sources of funds Donations unused the previous year received in financial year 2011 .....................................................................€288,243.65 Donations each representing more than 10% of total annual income ...............................................................................€2,759,226.98 Donations from other partners/donors ..........................................................€28,000.00 €3,075,470.63 Interest income .................................................................................................€2,376.11 Other income ....................................................................................................€4,730.76

Funds available for use in financial year 2012 ................................ €3,082,577.50

58

Project-based staff expenses ....................................350,847.84

In-scho o Offers l

Other project expenses .............................................764,736.12

Project costs for In-school Offers ................... 1,115,583.96

Project-based staff expenses ....................................116,949.28

Teache r Training

Other project expenses .............................................950,953.95 Project costs of Teacher Training .................... 1,067,903.23

Project-based staff expenses ......................................87,711.96

Other project expenses .............................................435,055.16

Extracurricu lar Activitie s

Project costs of Extra-curricular Activities ........ 522,767.12

Project-based staff expenses ......................................29,237.32 Other project expenses ...............................................98,306.69 Project costs of international............................. 127,544.01

Interna

tional

Staff expenses for administration ..................... 114,750.45 Depreciation and amortisation ............................ 15,505.54

Genera l expens e

Other administrative expenses............................ 65,186.92

s Expenses in financial year 2012 .......................................... 3,029,241.23

Other topics



Partners, sponsors and supporters

Providing more education together. My Finance Coach is made up of national partners, regional sponsors and numerous supporters who work together for better general financial education – from fireside chats and international conferences to class visits and the holiday academy.

Finance International, Chow Kit Foudnation, Deaf Moolah (Malays Komitee; Deutschen Behindertensportverband, SOS-Kinderdörfer, ity, Bildungswerk der Bayerischen Wirtschaft e. V. (bbw), UNESCO, zivilgesellschaftliche Aufgaben, Stiftung Lesen, Stuttgarter Zeitun l‘Exclusion), Hessisches Kultusministerium, Landesschulamt und L Wissenschaft und Kultur Mecklenburg-Vorpommern, Institut für Q Services, KPMG, Allianz, Grey, McKinsey, Deutsche Kreditbank, Han e.v., WirtschaftsWoche, Universität Hamburg, Jugendarrestanstalt tional, Landesarbeitsgemeinschaft SchuleWirtschaft, Deutsche Bö der Universität Augsburg und der Technischen Universität Münche band für die deutsche Wissenschaft, SMART, OECD, Aflatoun, Bank Internfational, Chow Kit Foudnation, Deaf Moolah (Malaysia), ESCP Deutschen Behindertensportverband, SOS-Kinderdörfer, Teach Fir swerk der Bayerischen Wirtschaft e. V. (bbw), UNESCO, Münchner chaftliche Aufgaben, Stiftung Lesen, Stuttgarter Zeitung (Kinder- u , Hessisches Kultusministerium, Landesschulamt und Lehrkräfteak senschaft und Kultur Mecklenburg-Vorpommern, Institut für Quali Services, KPMG, Allianz, Grey, McKinsey, Deutsche Kreditbank, Han e.v., WirtschaftsWoche, Universität Hamburg, Jugendarrestanstalt Landesarbeitsgemeinschaft SchuleWirtschaft, Deutsche Börse, ES Universität Augsburg and Technische Universität München, Deuts deutsche Wissenschaft, SMART, OECD, Aflatoun, Bank Indonesia, B Chow Kit Foudnation, Deaf Moolah (Malaysia), ESCP, Goethe Instit

n Universität München, Deutscher Philologenverband, fischer CD, Aflatoun, Bank Indonesia, Bank Negara Malaysia, Child h (Malaysia), ESCP, Goethe Institut, Internationales paralymerdörfer, Teach First Deutschland, ALP, Klett MINT, KlickSafe, NESCO, Münchner Stiftungs Frühling, Bundesamt für Familie eitung Kinder- und Jugendfestival), Face (Fondation Agir Conund Lehrkräfteakademie (Education catalogue), Ministerium Institut für Qualitätsentwicklung (Education catalogue) Volkche Kreditbank, Haniel, Roland Berger Stiftung, START- Stiftung, restanstalt München, Arche e.v.Frankfurt und Berlin, Rotary sche Börse, ESMT, Degree course in "Finanz& Informationst München, Deutscher Philologenverband, fischer Appelt, toun, Bank Indonesia, Bank Negara Malaysia, Child & Youth sia), ESCP, Goethe Institut, Internationales paralympisches Teach First Deutschland, ALP, Klett MINT, KlickSafe, Explain, Münchner Stiftungs Frühling, Bundesamt für Familie und g Kinder- und Jugendfestival), Face (Fondation Agir Contre Lehrkräfteakademie (Bildungskatalog), Ministerium für Bildung, Qualitätsentwicklung (Bildungskatalog) Volkswagen Financial niel, Roland Berger Stiftung, START- Stiftung, H-Team München München, Arche e.v.Frankfurt und Berlin, Rotary Internaörse, ESMT, Studiengang “Finanz& Informationsmanagement” en, Deutscher Philologenverband, fischer Appelt, Stifterverk Indonesia, Bank Negara Malaysia, Child & Youth Finance P, Goethe Institut, Internationales paralympisches Komitee; rst Deutschland, ALP, Klett MINT, KlickSafe, Explainity, BildungStiftungs Frühling, Bundesamt für Familie und zivilgesellsund Jugendfestival), Face (Fondation Agir Contre l‘Exclusion) kademie (Education catalogue), Ministerium für Bildung, Wisitätsentwicklung (Education catalogue) Volkswagen Financial niel, Roland Berger Stiftung, START-Stiftung, H-Team München München, Arche e.v.Frankfurt und Berlin, Rotary International, SMT, Degree course in "Finanz& Informationsmanagement" at cher Philologenverband, fischer Appelt, Stifterverband für die Bank Negara Malaysia, Child & Youth Finance International, tut, Internationales paralympisches Komitee; Deutschen Behin-

Other topics

The team looks back

My best experience in 2013 was ... These experiences stood out in the minds of the My Finance Coach team members.

Carmen Regelin @ StudVM_BF_Creg

Stefan Einert @ VoMt_NE_Einert

... being there when all the young people were competing for a place on the podium in Berlin and were so euphoric they worked right through the night.

... pupils who came in to the office spontaneously to ask about holiday jobs at the school after completing the Planning module!

Irene Riegelsberger @ LeFoBI_IRieg

Christian Keller @ MFC_GF_Keller

... seeing how a class of Year 9 pupils ignored the bell at the end of an exciting advanced lesson on Saving.

... the motivating speech by our START scholarship student Boran and the gleam in his proud father’s eyes at the reception ceremony in Potsdam.

Julia Röser @ Ho_TaD_Roeser

Matthias Jansen @ MFC_PR_Jansen

... when a girl told me about her class trip to Salzburg that was financed with the prize money from the National Finance Competition.

... the comment of a journalist after experiencing a class visit to a school, “No advertising, good contents and dedicated children – I'm totally surprised.”

Elisabeth Bieler @ VoMt_SE_Bieler ... accompanying Marian on her two-week work placement at MFC and seeing how she copes with her daily life despite being paralysed from the neck down.

Anne Inkpen @ MFC_Trainee_INT ... upon recently joining MFC, I was welcomed so warmly that my transition into a new job and a foreign country has been only positive.

Iris Rechtsteiner @ VoMt_SW_IRecht ... the positive result of the 2nd evaluation round – a great confirmation of our Finance Coaches’ commitment.

Mandy Singh @ MFC_MAT_Singh ... the smiling faces of the two Finance Coaches from Poland and the pupils after a joint double lesson on Shopping in an English lesson.

Pia Knabe @ LeFoBI_Knabe ... when the pupils of 8c proudly collected their certificates at the end of an intensive project week to the applause of their classmates.

Julia Winkler @ VoMt_NW_Winkler

Juliet Green @ PA_MFC_GF_Green ... working on my first class visit with pupils from all over the world, who are still full of hope and hunger for knowledge and life.

Marina Buchberger @ StudBuWeFiMBuch ... the child and youth festival in Stuttgart; seeing how the children spin the quiz wheel and worked their way through the “financial jungle” with enthusiasm.

Harald Lohse @ MFC_SE_Lohse ... when I told a managing director in Rostock about MFC’s work and he answered enthusiastically, “I’ve already done it and I’m going back again soon.”

... seeing how confident and professional the pupils were in our mock job interviews after just three ESF project days.

Dr Klaus Samwer @ MFC_SE_Samwer Rachel Fischer @ MFC_INT_Fischer ... the brilliant, inspiring teamwork between teachers and Finance Coaches during class visits as part of the MFC Money Week in London.

Tileman Fischer @ MFC_SE_Fischer ... MFC in Indonesia: the pilot project with employee’s children – school visits in Jakarta – project with the central bank and Money Week for street kids – amazing!

Karin Paprotta @ AusA_Paprotta ... the exuberant cry of a school boy during the course on Saving, “Hey, I’ve got it – no one will be able to swindle me any more!”

Vanessa Nowak @ AusA_Nowak ... seeing how young people eagerly explained business and finance to their parents at the MFC quiz.

... holding my own as a senior expert in (semi-)retirement during 2 × 2 double lessons of financial education in Cologne-Porz with other Finance Coaches.

Carina Blenninger @ StudLeFoBiCBlen ... experiencing how MFC sparks the interest and enthusiasm of teachers in a Teacher Training course.

Dr Tilman Tschoeke @ Ho_VoMt_TTsch ... standing in front of the class with a Junior Finance Coach and seeing the enthusiasm of the young and the “slightly older”.

Katharina Morbach @ LeFoBI_Morbach ... the dedication of many teachers, who work hard to give their pupils an economic education in addition to all the challenges they face at school.

Note: The Twitter accounts used above are fictitious.

63

Other topics

It was an honour

It was an honour.

In the third year of My Finance Coach we experienced many touching moments, many of which we shared with you on the preceding pages. Over the last 12 months, the close working relationships and the great feedback from so many pupils and teachers has overwhelmed and inspired us. For me personally, this year marks not only the end of another year at My Finance Coach, but also the end of my time as Managing Director of the initiative. After three years full of exhilarating encounters with wonderful people and fantastic experiences, I am handing over responsibility for My Finance Coach to Dr. Bettina von Jagow. I am delighted that she is joining us at My Finance Coach and will help shape the future of this educational initiative as of October 1, 2013. Goethe said, “Unfortunately, true gratitude cannot be expressed in words”. With this in mind, I will nevertheless try to express my thanks as best I can. Thank you to all the decision-makers in the many different companies who enabled me to take on this unique assignment and who have supported me over the last three years. My sincere thanks go to the members of our advisory committee and representatives of the partnership board for their unconditional commitment and personal dedication to improving the general financial education of children and young people. My time as managing director would have been futile without an outstanding team who always managed to make the impossible possible. I found that profoundly impressive and thank you all sincerely for everything. My thanks are due, in particular, to one fellow professional companion – the chair of our advisory committee, Dr Eva-Maria Kabisch. She put her trust in My Finance Coach and me right from the very beginning. Her great experience and energy has made a substantial contribution to the success of our initiative. Even as I embark on my new role, I look forward to continuing my contribution to improving the financial and consumer education of young people in a voluntary capacity as a Finance Coach. I wish you all the very best and look forward to seeing many of you again in the future. Yours faithfully,

Christian Keller Managing director My Finance Coach Stiftung GmbH

64

Enthusiastic and committed: the Managing director Christian Keller in action.

arumquam es autatum dolorum

Other topics

Looking ahead to 2014

A glimpse of the future. The planning process for 2014 is under way. As the following examples will Name Surname Coach’s Harumquamdiary es autatum dolorum show, My Finance is filling up. One of the most important projects for the year ahead is solidarity with parents.

BETTER APPRO ACH OR A SF E TO RC M O ON F N I E O

Y

We already have two exciting events planned for early November. In Munich, My Finance Coach is taking part in the MINT-Mitmachmesse FORSCHA and in Frankfurt, My Finance Coach is organising the youth portion of the Second Annual Child and Youth Finance International Regional Meeting for Europe and Central Asia in conjunction with Child and Youth Finance International and the European Central Bank.

J

In addition to in-school offers, such as class visits, Teacher Training and Extra-curricular Activities like the National Finance Competition, My Finance Coach plans to engage parents in the initiative in 2014. Parents’ evenings will have the motto, “Join forces for a better approach towards money”. One of the topics addressed will be, “Safely surfing the internet while having fun”. The parents’ evenings will take place in schools and invitations will be sent jointly from individual class teachers and My Finance Coach.

At the German Head Teachers’ Congress in February 2014, Professor Joachim Winter from Ludwig-Maximilians-Universität München will present the results of the second evaluation of My Finance Coach. In the summer, My Finance Coach will participate in Mini Munich and Mini Berlin for the second time. During the project, children and young people from diverse social and educational backgrounds manage playtowns which provide the youth with a wealth of opportunities for learning and discovery. One of these opportunities includes a hands-on money management experience with My Finance Coach.

TE AC H

In June, the final round of the National Finance Competition 2013–2014 will take place. Teams from years 5 to 10 can register for the upcoming competition until ­February 28, 2014. In the preliminary round, the pupils calculate the expenses of a weekend without parents, sharing a flat during a fictitious work placement or setting up a home on their own to start their career, depending on the age group. With all these plans 2014 is going to be another year full of commitment, hard work and enthusiasm – My Finance Coach is looking forward to it!

ER S, P A

A RENT S AND MY FIN

CH OA C E NC

Legal information Published by My Finance Coach Stiftung GmbH Seidlstrasse 24–24a 80335 Munich Tel.: +49 (0)89 1220 8401 [email protected] www.myfinancecoach.org overall responsibility: Christian Keller (Managing director) Concept: GREY Düsseldorf GmbH Translation: Wieners+Wieners, Ahrensburg Production: dieUmweltDruckerei GmbH, Hanover The contents of this annual report are printed on recycled paper and bear the Blue Angel seal. Editorial team: Matthias Jansen (responsible under German press law), Ines van Kaldekerken, Katharina Morbach (proofreading), My Finance Coach Stiftung Team Photos: Andrea Baur, EZB, fotolia, getty images, My Finance Coach Stiftung GmbH, Wolthers Kluwer Deutschland reporting period: 01.10.2012 to 30.09.2013 (Financial data relates to the calendar year 2012) data last updated: 16.09.2013 © 2013, My Finance Coach Stiftung GmbH, München