NWX-CFPB HQ (US) Moderator: Heather Brown February 21, 2019 1:00 pm CT Coordinator: Welcome and thank you for standing by. All participants' lines are on a listen-only mode until the question-and-answer session of today's conference. At that time you may press star then 1 from the phone lines to ask a question or you may submit a question under the chat tab located on the right-hand side of your WebEx screen. Please be sure to select all participants before submitting your chat. As a reminder, today's conference is being recorded. If you have any objections, you may disconnect at this time. I would now like to turn the conference over to your host, Dr. Heath Brown. Thank you, ma'am. You may now begin. Heather Brown: Thank you, Operator. I appreciate it. Welcome to the FinEx session - webinar session for February. The month is getting by very quickly. We thank you for taking time out. I'm sure it's been busy for everybody with weather delays and different things going on. I wanted to go through our preliminary information about FinEx really quickly and then I want to take the time to introduce our wonderful speaker today, which I think you're going to all enjoy very much. So disclaimers: This presentation is being made by a Consumer Financial Protection Bureau representative on behalf of the bureau. It does not constitute legal interpretation, guidance or advice of the Bureau of Consumer Financial Protection - Consumer Financial Protection Bureau, sorry. Any opinions or views state by this presenter are the presenter's own and may not represent the bureau's views. This document is of course part of a live discussion and therefore it is not something that easily understood all the time by just reading the slides. We do share the slides but we just like to stick a disclaimer in so people understand that. And also just so you know, the Consumer Financial - the Bureau of Consumer Financial Protection, which we are now called again, regulates the offering and provision of consumer financial products and services under the federal consumer financial laws and educates and empowers consumers to make better informed financial decisions. I have here just a slide talking generally about what the CFPB FinEx program is. We know we have a lot repeat listeners so I don't want to go into a lot of detail but we are here to help you. If you are a financial educator or anyone that teaches financial literacy, we provide materials that are aimed at people that are teaching our consumers about financial education and financial literacy topics. We do regional convening, so if that's something that interests you, you can reach out to us. We send out our monthly newsletter as well as doing surveys from time and time, and we're having another annual meeting at the end of this year as well. So stay tuned for that. You can find out about upcoming Webinars, if you travel to this location on our website. You can also just get on to the consumerfinance.gov and do a search and you can find adult education and you'll find that slide as well. At the end I'll put up the bureau resources here but for now I'd like to move on so that we can get started with our wonderful guest speaker today, and I'd like to introduce her to you. Her name is Leslie Jones, and Leslie is with our office, the Office of Financial Education. I'm stalling a bit because my folder closed on me so I'm trying to get it back open. All right, there we go. And so Leslie is a youth financial education analyst at the CFPB. She's a former business teacher, instructional designer, curriculum supervisor and developer. She advises on K through 12 financial education program issues and the development of national approaches to support K through 12 financial education. She works with teachers to incorporate personal financial topics into their courses. She's a certified business teacher in Virginia and she's recognized in three editions, 2000 through 2005 of Who's Who among American teachers. And she also was a member of the 2004 National Outstanding High School Business Department sponsored by the Association for Career and Technical Educators, ACTE. She has a master's degree in industrial design and development from George Mason University in Fairfax and two bachelor's degrees, one from Bowling Green State University in Ohio in marketing education and another from Lake Eerie College in Ohio in arts management and sales. So she is very diverse in her skills and an excellent speaker and I think you'll enjoy this session. I know that many of the material that she's going to share with you can be used by your clients as well because it's part - they're targeted at high school age and many people that are my age or above, I won't tell you what that is but just more mature, didn't get financial education training in school so they will very much benefit from those. And additionally, most of the people that you may train that are adults will be parents and they'll want to know how to provide skills to their children as well and offspring. So I'd like to welcome Leslie and, Leslie, I'm going to pass the ball to you so you can advance your slides. And we are going to take questions at the end and occasionally Leslie may have a question that she'll ask of you and you can reply using the chat session, and I'll try to monitor the Q&A and chat as we move along. Thank you so much. Leslie, it's all yours. Leslie Jones: Thank you, Heather. I really appreciate that. Welcome everybody. We'll try to get you some things that you can take away with you and hopefully use very soon. And I'm going to - and Heather has already gone over our disclaimer so I will quickly go through that. And I'm going to start with a question for you all and I'm hoping that you have your fingers ready to be able to participate in the chat a little bit. The question I have for you is what messages about money did you receive from adults when you were a child? What messages about money did you receive from adults when you were a child? And if you could just put a short comment in the chat I would appreciate it, because in talking about youth financial well-being we like to start with adult financial well-being because we look at what we've done as adults and that helps us figure out what we need to do to work with kids to get them to be adults. All right - adults with financial well-being. All right, so we've got some comments coming in. Importance of saving. If you want something that isn't needed you have to save it by yourself - to buy it yourself. We don't have money for fun. Work to earn money and only spend what you earn. I should save money. Save. Money lets you do the things to have fun. Budget and save. Pay bills before spending money on anything else. Nothing. Yes, I'm one of those people. And we have limited money. Thank you so much for those answers. That is quite often what I see from people. I still like to tell everybody my personal favorite that I've heard over the years doing this and what was somebody that said the message they learned is that as long as you have checks in the checkbook, you have money. Of course that turned out to be wrong but as a child she thought her mom knew what she was doing. Okay, I really like the money doesn't grow in a tree in the backyard. I think many of us heard that one. Well, what - the reason I ask is because again that leads into the concept of what is financial well-being. And financial well-being is our ability to manage our money, meet our obligations, feel secure and enjoy life. And that concept is something that many of us strive for but not all of us achieve. And it's that capacity to manage your financial resources effectively. And so what we did with this definition that we developed is we broke it down into these four elements of financial well-being, and I know you've probably heard this before but I just really feel like it's a strong foundation for where we have gone with youth financial education, that ability to control your month-to-month finances, your ability absorb a financial shock. We so often hear about people who can't afford a $400 emergency and that throws you both mentally and financially and stresses you out. We also heard about it last month with the federal government shutdown. Financial freedom to make choices in life to be able to do what you want, how you want it, when you want, and to be on track to meet your financial goals. And what's so important is it's all about you, it's not about what somebody else thinks or what somebody else wants to do. You know, if you want to live out in - on a ten-acre in the country versus somebody that wants to live in the city, we make different decisions but the important thing is are we happy about them. And of course we can find that out by answering - we can find out somewhat how we're feeling and how we're doing by taking the CFPB's financial well-being scale. And how - I'm going to make the assumption that some of you have explored our scale before. And if you haven't, please check it out. And if you have, go back, see if your score has changed, see if you've improved things a little bit. But I love the fact that it's just ten simple questions and it's not questions like can you do some complicated math problem that, you know, you could probably do in the tenth grade but you haven't been able to do for the last 10 years but instead it's just asking some very general questions about how you feel about how well you're handling your money. And the score that you get is one that allows you to see how you're doing personally and, like I said, if you do it once a year, you're able to see are you going up, are you going down, but it also does give you an idea of how you're doing compared to other people your age and then also gives you some recommendations of what you can do in order to learn more things to improve your financial well-being. And what the scale has done is it's helped us to identify things that can improve financial education. So I'm going to ask you and I'm going to stop again and ask a question and my question is how and where do you get your financial education, your financial information? You can - if anybody who has access to the chat and can give me some brief ideas of how and where you get your financial information or just information in general. If you've got a question, where do you get information from? Okay. Yes, podcasts are great. Family, websites, things like that. Well if you're my age, you probably remember getting information by going to the library, checking out random books for guidance, taking them back, finding some new ones, but now that it's 2019 we have all these other wonderful options that you guys have mentioned: the web, podcasts, all sorts of wonderful websites. And more importantly, you can get the information immediately. You can just click search, surf the Internet, you can use your phone to get information, things like that. We can get information on demand and what we've discovered in our research into financial education is that has become a key for achieving financial well-being, that ability to get information on demand when we need it and to give us the exact information that we need. Now those - once we found that information the next question is how do we use it? How do we understand it? And so just because you get the information doesn't always mean that you're going to understand what it's telling you. You don't know what necessarily correct, incorrect, things is like that. And I was talking to some teens earlier in the week and they told me, "If it seems too good to be true, it probably is but it was still really tempting." And I said, "Yes, that's true but what would get you still do it anyway?" You know? I think many of us know somebody that's got a story to tell, sometimes it's us, about something that they've done that they wish they hadn't but it just seemed like such a great idea or such a great way to get rich quick, and so they fell for it. And so that ability to not only get information but to read through information and make sure that it's reliable and trustworthy is another huge step that we have to look at how we can help consumers. And I just love this one because CFPB is doing this and I don't know, how many of you have a credit card or if you can just, you know, say yes—kind of a thing. Do you have a credit card that sends you a monthly statement that allows you to see your credit score or credit report - not credit report but your credit score? Okay. Wonderful. Great. Thank you. So that is something that's been happening over the last couple years, and I remember I was so excited to see that happening in my credit card statement and then I get to work one day and I find out that one of my co-workers has been shepherding this project through, and I'm like, "I'm working at such a great place" because what we did was we provided some guidance to credit card companies and said in order for people to do better and improve their financial literacy, they need to get information when they need it. And when you're looking at your credit card statement, when you're looking at what you owe versus necessarily what you can pay, it's a great time to get your credit score. And I love the fact that they've added that extra piece to it where they've said now you can also play in this tool and say, "Okay, so if I pay this all down in the next 12 months, how would that improve my score?" and "If I did such and such, how would that improve my score?" And it's just been a way that I think probably has helped credit scores go up because people are seeing them more often than the once a year that we were seeing them before and also getting the chance to privately, quietly without having to talk to anybody figure out a way to improve that score. So that's just one of the examples of a way to - a way that we're looking to improve financial skills and behaviors. All right, so now with all of that information about adult well-being the question then we asked ourselves was when and where during childhood and adolescence do people acquire the foundations of financial capability? So we looked - we researched and we came up with these three and we call them the three building blocks of financial capability because the kids need executive functioning skills, they need financial habits and norms and they need financial knowledge and decision-making skills. And I'll just go pretty quickly through this one because I like to spend a little more time on this slide. And so one of the things that is unique about this information is we then took these three building blocks and we also did - stopped and identified what their primary development stages are. So if you look, executive functioning starts to build in early childhood. Early childhood is ages three to five. Executive functioning is self-control, planning, problem-solving skills and if we can start with three year olds then - and they can really develop that ability to say no and to wait for things, then we're giving them the ability to, 60 years down the road or over the next 60 years, plan for their retirement, to put money aside like they need to be able to get the savings that they need to be able to buy a home and have a mortgage and all sorts of things. So executive functioning. We can start building student - children's financial capability at three. Love that. Then in middle childhood we encourage parents, caregivers and schools to focus in on financial habits and norms, giving kids healthy money habits, giving them some norms, rules of thumb or rules to live by that we're talking about, that whole thing of I’m going to put away 50% of my money when I earn it. People said that their parents taught them to save, getting those financial habits, how much do you save, when do you save, those kinds of habits we need to build in with kids. And another thing, going back to the if it sounds too good to be true it probably is, that whole skill and ability of being able to say, "Huh, I don't think so," or, "Let me go check on that. Let me figure out if that information is reliable." And then finally ages 13 to 21 it's a great time to teach some financial habits - excuse me, financial knowledge and decision-making, and that's what we already do very well in schools. And so that whole thing of money management and knowing where to go, you guys have given me some great trusted resources already listed here, knowing what those good resources are knowing where to get them, that's all something that we encourage that we do at adolescence and young adulthood. We have a lot more information about the building blocks on our website so please check it there but this is something that you can start early or late. One of the things I say is execution function, planning, problem solving, yes, we start at age three but we continue to teach it all along. I know that for myself I didn't develop my financial habits and norms about retirement until I was in my early 30s because I finally had somebody that was really talking to me about retirement. My parents didn't talk to me about retirement so didn't really think about it. So you can continue to develop those financial habits and norms, you can continue to develop executive function skills really your whole life. It's just the prime time to teach it are what are listed here. So going back to early childhood, that building a youth financial capability when you're young, one of the ways that we think that it's a great time to do it is some ideas, some tips, strategies, activities that we have on our Money as You Grow website, and the focus is parents and caregivers. As parents we don't know how to have money conversations with our kids and this gives parents some focus for how to do it. We have some great activities there, sorting money and playing Bingo about where our tax money goes and all sorts of things like that. So if you haven't checked out our Money as You Grow pages, please do because you'll probably find some great things for, again, that three to ten-year range, although there are definitely things that parents can do with their teenagers, how to read a paycheck, things like that. Now we also have a Money as You Grow bookshelf and the bookshelf currently has 16 books on it. Some of them are both English and Spanish titled. They are books commonly found in libraries, both public libraries, school libraries and quite often your home library since you're looking at Curious George books and Bernstein Bear books, and we're also having an additional I think it's three to five books that will come out this year. And the best part about the bookshelf is this: they come with parent guides. And these parent guides have key ideas for a story, gives some parents some things to think about, talk about, some extension activities that they can do with their kids depending on their ages, and again it just helps give parents a better idea of how to extend the learning in a book that you could have gotten for free from the public library. So I would recommend that you check it out. They're great for schools or other occasions to have around, to hand to parents as something to take away with them after they have visited you. All right. So going back to the building blocks, our three building blocks. We have milestones that we've identified for you, and those milestones are things that you can look for and it's just the same things that we normally do with kids that we say the kids need to learn their ABCs and then once they've learned, they reached their ABC milestone then they're able to do word recognition. And then the next milestone we look for is that they can read and then the next milestone is that they have reading comprehension, et cetera. It's that scaffolding word that we've heard so often. And so we've also identified for the building blocks some milestones like for executive functioning, can the kid - can a child be persistent, can they focus or do they just give up quickly and run away? And for financial habits and norms, do they have a positive attitude towards saving, do they like to plan about what they're going to spend their money on, are they able to hold back and wait and build up that money for something later? And then if they're a teenager, are they able to identify a trusted source of information or do they think that they're - do they think that some sources that shouldn't necessarily be trusted our their primary sources for information. So we've identified building block milestones for you and, again, that's on our website. So this website I keep talking about looks like this. Oh I'm sorry, the resources are not for print only. You can definitely order them from the CFPB website but then there's some that are download only, and I'll show you those in just a moment here. So on our youth financial education webpage, you're able to conduct a curriculum review if you're a teacher and you're able to learn more about the building blocks, you're able to teach the building blocks, find our research and resources, and if you see in the middle, the bottom of the middle access-free printed copies of materials, so there are definitely things that you can order, and then have to pass out like those parent guides for the bookshelf. And then the thing I'm going to talk to you most about today here is the find financial literacy activities because being able to actually work with teens in some teacher-tested activities is very, very helpful and we want to make it simple for you. So when you click on that link to look for to find activities, you'll come to our search page, our filter and search page, and these are activities that can be completed within a single class period or in a single hour, if that's the time that you have with the students. And the activity comes with a teacher guide and, if needed, supporting student materials. So it's really easy to implement, whether you're an experience personal finance teacher, whether you're integrating financial literacy into something else, or just supplementing some education curriculum that you have. And I'm just going to highlight here the really unique piece to our filter tool and I think if I can click this button here and be able to have a pen work, and hopefully you can see this little subject is our unique piece. And I love the fact that we have this little subject here. Obviously the building blocks are definitely a unique piece but school subject is here. So let's say you're - you want to work on kids with more English skills, more English class type skills or maybe you want to work with kids in a more active way, so you might choose physical education or health or maybe you're interested in helping students that have a variety of languages and then you work with them on more languages. Our topics have to do with the “my money 5” buy, to earn, save, protect, spend, borrow, and the grade levels right now are just high school but later this year we'll have middle school activities, and then in the late 2020 we will have elementary activities. And you can sort by activity type so whether you're looking for a group activity, individual activity, that kind of thing, and then for how long, activity duration. We've broken it down by either 15-minute activities, 60-minute activities or 90-minute activities. Now let me show you what they look like because that is the next thing that is interesting, and let's look at one of the ones that I love. There it is. Okay. So this is what an activity page looks like. So when the activity page comes up, it gives you the big idea, it gives you some essential questions that the student will be able to answer once you've done the activity with them, the objective, and then what students will do. And in this case I want to show you this particular one and that is credit myths and realities. So we're going to play this one together now so if you're not - if your fingers are not on your keyboard get them ready. So in this activity this is - I'm going to read a statement to you about credit and borrowing and then you're just going to type in either myth or reality. Don’t worry about giving a reason for your answer but choose - tell me whether you think it's a myth or reality. And so the one I'm going to give you now is there's no such thing as good debt. There's no such thing as good debt. Okay. Ooh we've got somebody that's deviating. Okay. All right. There seems to be consensus for most people that it is a myth. I've got one person that's saying it's a reality and the - what we have on here is that borrowing money to further your education with certification, license, degree can be an example of good debt if you finish your studied and your future income will support the amount you borrow. Now the person who said reality probably like me listens to a lot of (Michelle Singletary), just saying, because she definitely tells us that there's no such thing as good debt. Now I'm going to give you another one here and this says co-signing a loan may affect your future ability to get a loan. Is that a myth or reality? Co-signing a loan may affect your future ability to get a loan. Okay. Heather Brown: And while those are coming in, the person that said that was a reality also said, just less bad debt. Leslie Jones: Okay. All right. This definitely is consensus. Reality, all right. That is correct. A creditor may consider the increased amount of debt you now have as a result of co-signing for the loan. If the main borrower doesn't pay, the default can show up on both the borrower and the co-signer's credit records. Okay. And just one more I'm going to read for you. Again, type in myth or reality. And my question is the majority - excuse me, not my question, the statement I'm going to read: the majority of Americans who filed for bankruptcy due to medical debt had health insurance. I'll read it again. The majority of Americans who filed for bankruptcy due to medical debt had health insurance. Myth or reality? The majority of Americans who filed for bankruptcy due to medical debt had health insurance. Okay. Yes, it's a reality, a sad reality but a reality. And so despite the fact that we have health insurance, it doesn't necessarily protect us from medical debt. So thank you. They've got an example - and there's 11 statements. I read three to you, but it gives you an idea. And then you can have some good conversations with students about why this is a myth and reality. And this is just an example of one of them that you can use as - they even get more complicated by having the students first do it in a small group and then you talk about it in a large group. There's lots of variations but it gives you an idea of what the activities are like. And I'm going to do a second one because you can't just do one and in this example is identity theft and fraud because the bureau considers that another topic of great importance. So the students are given scenarios about different types of identity theft or fraud and they create a skit to share that situation with the group and then the group decides on what type of theft or fraud has occurred. And so they've got a list of what the different types are so they're not having to try to think of it themselves. And so I'm going to - I'm sorry. So for the first one it says you contact the IRS to ask for more time to file your taxes but you find out that someone has already filed a tax return in your name. You don't have the benefit of what the kids have, which is the list of types of identity theft and fraud so I'm just going to check. Does anybody know what type of identity theft or fraud that is, that first bullet? The fancy name for it is tax-related identity theft. Okay. And then let's look at the second activity - or excuse me, the second scenario, and it says a hacker stole information from your credit card company, including your personal data, and used it to charge purchases. What type of identity theft or fraud is that? Anybody know? A hacker stole that information. What type of identity theft or fraud is that? That's called using - use of stolen data from a data breach, which of course many of us are probably worried about happening. Okay. And this one you can see is easier if you do this one with the kids looking at this list and having the little cheat guide but it also, again, gets you talking about how these situations happen and gets into some more detail and some more depth. Okay we've got one more we're going to look at because you've got to have these things in threes. All right. So these are called spending snapshots. In these scenarios students explore a situation that details a real-world situation that requires someone to make a spending choice. And their task is to reflect on their own spending experience and personal knowledge to make spending recommendations to the subject of the scenario. And then we talk to other students about whether they agree or disagree with the recommendation and why or why not. So let's look at this first one. It says Felicia wants to buy her first car so she saves most of her money each month. Her friends spend most of their money going out and having fun. Felicia misses going out with her friends and wonders if it's okay to spend a little money on that. So based on your, so the student, based on your spending experience and personal knowledge, what would they recommend to Felicia? So should or shouldn't she? You guys want to answer? So what I'm hearing is it's not all about saving and making yourself suffer because all you do is save for something. Budget for a little fun. Yes, exactly. She should budget for it, exactly. So your recommendation is try to budget for it, try to have a little fun, don't overspend. Excellent. Very good responses. And so this is - and it's a good time to talk about it because, again, this goes to the idea of students building financial habits and norms. Maybe they don't have these conversations at home. They don't have these conversations with their parents so they have no idea what they should do. If they're used to somebody spending all of their money all in a big, you know, in a couple of days and then not having money at the end of the month, that whole idea of budgeting might be something that they haven't thought about before. So it's a great conversation starter and a way to teach some financial habits and norms that a child might not be familiar with. Okay, let's look at the second one. Jamal has bought dozens of video games over the past few months and his mom thinks he should stop spending so much money on games. We don't know any kid who would do that, right? He thinks the games are worth it because he and his friends have lots of fun playing them but he's starting to wonder if his mom is right. So based on your spending experience as a teenager and your personal knowledge, what would you recommend to Jamal? What would you guys recommend? Should Jamal slow down how much he's spending on video games? Should he come up with some clever situation? See if it's me - oh, sell the ones he doesn't use anymore to earn the money - oh my God, that's excellent. Okay. Oh my God, that's a great idea. Play the games longer before buying another. Have the other kids buy a game and have fun with their game. Those are great ideas. And, yes, the whole idea of selling it with the money that you get generating is a great idea. The other thing is that talking with his friends and saying I'll buy this one, you buy that one, you buy that one, that's another idea. Game swap, exactly. That's what I was just suggesting. Thank you. That's perfect. And so again, these are some ideas that people might not have thought of and so to be able to have that conversation with a kid about - kids about how to do that can give them some ideas that otherwise maybe they wouldn't have or didn't have. So thank you very much. I really appreciate your participating. Oh, I'm sorry. I actually did have a fourth one here. So do you want to see it or should I go on? Is that a - okay, all right. So I'll go over this one. This one's called do or don't and so this one is what happens. Students listen to scenarios about using credit and debit cards to make decisions about safe practices by moving to a designated area in the room that supports their decision. I just did this one earlier this week and I put one sign over in the one corner of the room and that said do and the other sign over in the other corner of the room and that said don't, and then this was a great chance to get the kids to get up in the middle of our discussion and get, you know, some activity because they need - well actually we all need it but they certainly need it. And so the first scenario I asked them: your friend asked to borrow your debit card so they can run to the ATM and get some cash. And so then I had them go to the side of the room that they felt was accurate. Do you do something like that or do you say not to that? And luckily they chose what? What did they choose? What did they tell me? Do or don't? You got it. That's right. The answer is don't. You shouldn't share your PIN with anyone else. Your friend could withdraw your money. And then the third one that's there, the scenario, was you receive a call from someone who claims to be with your bank and says they need to verify your account information. They ask for your account information and the numbers on your debit card. So do you or don't you? And again, the kids can now reset and go to the side of the room - it's don't. Thank you. Yes, exactly. No, they would have all that info, exactly. I always just say I'm going to hang up. Thank you for this information. I'll call using my - the number that I have access to, and that's exactly what you should do. But again, some kids might not have ever heard that before, their parent doesn't know. They haven't had that conversation. And then the last one that we - oh, I'm sorry, I guess there's two but I'm only going to do number four. You've lost your credit card and you're very busy today. You plan to call your bank later in the week to work it out. Call immediately, that's right. You're not liable for as much fraud and things like that as - if there was a problem. And I just have to give a shout-out to the CFPB on scenario seven because the checking the online bank statement we heard a consumer that had contacted us because she was on maternity leave and her husband was handling the finances for her just to give her something that she didn't have to focus on and while he was looking he was like some of these charges aren't making sense. Some of these things just - what is going on here? And as she looked at it she realized that there was some stuff that was suspicious there but they were charges made by the bank. And when she contacted them they didn't give her a good response so she contacted us and said, "Can you help me?" And we said we'll look into it. And we looked into it and when we - when she finally heard back from her bank, she received $11,000 back from her bank to restore the charges they had made on her account. So knowing what to do, who to contact, who to call is so, so important. All right, so I hope that you enjoyed seeing some of our activities. I've just got a few more things to show you. One of it is the curriculum review tool. If you have actual curriculum, not just activities like we - like I've just shown you but an actual full financial education curriculum that you're interested in vetting, we offer you some guidance and what you should be looking for, questions you should ask yourself. So this curriculum review tool is great for financial education curriculum designers or people who are school districts and things that are looking at what are we going to purchase, invest in, recommend, things like that. So we recommend that you check out our curriculum review tool. This year - last year we made it all electronic and you can print off files and things like that. Now the other thing is Ask CFPB, and I'm hoping that everybody has been on Ask CFPB before but it has a thousand - nearly a thousand answers to commonly asked questions about money topics like money transfers, mortgages, prepaid cards, student loans, credit cards, just a variety of things. So you can filter for answers to questions or actually just type in questions in the search box. And so recommend that this is one of those I asked you earlier where you go to get information, I'm hoping that you put Ask CFPB in that mix and tried to get the answers to some of your questions from there. And then somebody asked about ordering publications. If you look, I'm going to click on this one more time just to - if you look at the categories that are down here, you'll see we've got money as you grow, accounts, credit, managing someone else's money, money management, mortgages, saving, a tax plan. There's a variety of different categories. One of my favorite categories is the new money newcomer's guide to managing money series. Love that series. It comes in like I think eight different languages so it's fabulous. And so these are some of the other things that you can - this is someplace else that you can come and order our materials, have them shipped to you, be able to pass them out to your patrons, to your - to students, other things like that. All right. So I think this is my time to turn this back over to Heather to see if there are any questions. Heather Brown: Thank you, Leslie. Let's see here. We don't have any questions unless I'm missing it. It seems to be - a lot of people were using chat I think because I only see seven responses in there and none of them are particularly questions. So hopefully I haven't missed anything but let me look under our other question list, and I think we're okay. In the meantime, operator, can you tell them how to ask a question because we're going to entertain questions now while I'm reviewing? Coordinator: Yes. Thank you. If you would like to ask a question from the phone lines, please press star then 1, unmute your phone and record your name when prompted. If you need to withdraw your question, please press star then 2. You may also submit your questions under the Q&A tab located on the right-hand side of your WebEx screen. Once again to ask a question from the phone lines, please press star then 1 and record your name when prompted. One moment, please, while questions queue up. Heather Brown: Thank you, Operator. And while we're waiting for those questions, in case some of you didn't catch it, when she spoke about the money as you grow - I mean not the money as you grow, when she spoke about the bookshelf, she was suggesting that you might want to consider getting some of those and keeping them - ordering some from our publisher, keeping them in your office and sharing them with clients to take home to their children so you're not only teaching them skills and helping them but you're teaching them to teach their kids. So that I thought was a fabulous idea for people in our FINEX program. Okay. Operator… Leslie Jones: What's nice is you can order it. We have these kiosks that you can order where you have a variety of the guides that you can list and bookmarks and stickers and things like that too again can be ordered from our Pueblo site. Heather Brown: Thanks, Leslie. Operator, do you have any questions in queue? Coordinator: We are currently showing no questions from the phone lines. If you would like to ask a question, please press * then 1 and record your name when prompted. Heather Brown: Okay. Well I'll give a few more minutes for questions and then we'll wrap up. I wanted to just show our - some of the links for the FinEx page. This is the link - the top is the link to the adult education page. We also have a mailbox here. You can send any questions you have. We'll send a copy of the slides out to everybody that gave their email when they logged in to today but anytime you need anything you can write to this box. Also, if you have ideas for Webinars or activities that you'd like to see us do in the FinEx program, you can certainly send a note to this box and let us know. And we have a discussion group through LinkedIn and we're getting many, you know, quite a few posts now regularly each week. We encourage you to post announcements that you have about new tools, research that's available. The only thing we do take down are if you're actually marketing something to make money or things that aren't relative to our audience of financial educators. And then you've seen the link already to bulk. Also the next Webinar is going to be March 14, the next FinEx Webinar, at 2:00 pm Eastern Time and it's on financial success after prison. We have a speaker from here at the Bureau - the Consumer Financial Protection Bureau, (Mary Griffin), and she's going to speak and hopefully have a special guest to talk about their experiences. And we do have a new tool that's coming out that teaches people that are going to be transitioning back out of prison to manage their money and some things to follow and help them better. So I think you'll appreciate this - hearing about it and just learning a little bit more about the resources we have. And after that, March 21 at 2:00 we have another webinar coming up and it is - I didn’t put everything in because we want to do our final confirmations but the topic is going to be on foster care and there's a lot of foster - young adults, as soon as they leave foster care end up homeless because they don't have a safety net. If they had one they probably wouldn't be in foster care. So that's another issue some of you may run into in your practices that you may want to hear about. Okay. And we're open to ideas so please send suggestions for topics that are of interest to you to the CFPB_finex@cfpb.gov box. That's second here. All right, Operator, did you have any other questions? Coordinator: We do have one question from the phone lines. It comes from (Cassidy). Your line is now open. (Cassidy): Hi there. I just have a question about what would you say to a young person that says that they're not making any money, that they don’t have job? Why should they care about thinking about money or practicing financial literacy skills? Leslie Jones: Okay. I think that no matter how much money you have, building those habits and skills means that then if you do have it, you know what you - know what to do with it. So it's not necessarily about where you are, it's about where you want to go and what you want your life to be like. I'm certainly not in the same place financially that I was when I was 20 and planning for the arc, like, I had to start somewhere. Heather Brown: That's a great answer to that question, Leslie. And I think also I mean whatever your age is, you're spending money and it may not be your money but you're probably spending someone else's, so your parents, your guardians or caretakers. And I had to learn that - I used to try to shield my children from hearing about oh it's a tough month and, you know, we've got to be careful but I realized by doing that I didn't let them understand that there are tough times, ups and downs and there's times when you have to pinch a little more and save a little more and other times when things get better. So I do think that even though the young adult may not be making money, they're still spending money and to the extent that they can do that in a more frugal manner, that's going to leave more disposal income for the entire family. So good question. Operator, are there any other questions? Coordinator: We are showing no other questions from the phone lines. Heather Brown: Wonderful. Leslie, did you have anything you wanted to say before we wrap up? Leslie Jones: I do not. I just hope that you get a chance to look at our activities. Right now there is 45 available but they'll be probably be - they're - we're going to get up just over 100. They're coming out in the next two months. Some of them should even be out next week, if the plan works well. So even if you didn't see anything today or next week, please check back for the next few months because more of them are - will be available because topics like insurance and investing, things like that that. We're even going to have one that comes out that talks about virtual currency so that will hopefully be useful for people. Heather Brown: Definitely. We're looking forward to those topics and we'll definitely check back with them. Well thank you so much for coming and sharing this information. We did have a couple last comments where somebody I think was answering the question that the young lady asked and they said you can't wait until you have money to learn about it and that’s why some of her clients with five - six-figure incomes struggle with money because they didn't learn it early on. So wonderful answers there. Leslie, thank you again for joining us. Everyone that participated thank you for coming. I look forward to seeing you March 14 virtually at 2:00 pm and you can share that information with anyone else that you think might be interested in the topic. Take care everybody. Have a great day. Operator, we're ready to conclude the call. Coordinator: That concludes today's conference. Thank you for your participation. You may disconnect at this time. END NWX-CFPB HW (US) Moderator: Heather Brown 02-21-19/1:00 pm CT Confirmation # 8398758 Page 1