Bateman Competition Book 2011 by Tiffany Rogers

Cowtown Strategic Communications Texas Christian University Client: Ally Financial

Shannon Listorti • Tiffany Rogers Lauren Secchio • Mallory Tarp

Ready for Real life? TABLE OF CONTENTS EXECUTIVE SUMMARY I. II. III. IV. V. VI.

Introduction Situation Analysis Research Objectives and Tactics Campaign Summary Evaluation

APPENDIX I. Research II. Promotion and Media III. Event Planning and Information

4–11

4 5 6-7 8-9 10 11-13

A1– A80 A16-A30 A32-A39 A40-A53

I. INTRODUCTION The goal of the 2011 Texas Christian University (TCU) Bateman Team campaign was to position Ally Financial as a socially responsible corporation by promoting its financial literacy program, SmartEdge. The TCU Bateman team, Cowtown Strategic Communications, chose to focus efforts on impacting students ages 14â&#x20AC;&#x201C;18 of low-to-moderate income communities in Fort Worth, Texas. Our team developed Real Life with Ally as a campaign theme to create higher awareness within the target audience. To better understand the lifestyle and knowledge of our target audience regarding financial education, we employed an array of research methods, both quantitative and qualitative. Intercept surveys were conducted at high schools in the Fort Worth area, focusing on schools with student populations predominantly from low-to-moderate income households. The data revealed that 39 percent of students rely on their parents as a main source for financial information. Furthermore, 28 percent of students rely on school as a financial resource. Keeping these findings in mind, we were able to develop a game-themed financial literacy program entitled Real Life with Ally to educate students about budgeting and credit. Three high schools in the Fort Worth area participated in the Real Life with Ally campaign to learn ways they could become financially successful. The game focused on preparing students financially for their first job, car, and secondary education. Cowtown Strategic Communication used grassroots efforts to promote the events, relying primarily on street team promotion, eye-catching flyers, and campus media. The Bateman street team consisted of 3 to 4 Bateman team members. While wearing the Real Life with Ally event t-shirts, the street team passed out flyers to Paschal students during their lunch break and after school. This grass-roots approach was a great way to effectively reach and inform the students about the upcoming event. The street team also posted neon colored flyers along the main hallways of the school to gain attention for the event. Furthermore, we used Facebook to maximize event attendance. By partnering with area high school counselors and faculty, we were able to execute a successful, interactive and educational campaign that collectively impacted 110 students at Lake Worth High School, South Hills High School and Paschal High School.

Core Team

Bateman Team

Ready for Real life?

STRENGTHS WEAKNESSES

• Ally Financial has low recognition due to previous branding as GMAC. • Ally Financial has not previously reached a target market that is in need of financial literacy. • Ally Financial relies heavily on online resources that may not be available to individuals without Internet access.

• Current education budget cuts offer better reception of corporations hosting educational events during and after school. • The need for financial education has never been greater, as the United States is emerging from a major credit crisis. • Create brand loyalty among young future consumers

THREATS

• Ally Financial provides an easy to use, free financial literacy curriculum and tips via online tutorials. • Ally Financial is establishing and expanding its financial literacy program, called SmartEdge. • Ally Financial is establishing its brand as a socially responsible corporation by giving back to low-to-moderate income communities.

OPPORTUNITIES

II. SITUATION ANALYSIS

• Large and scattered immigrant population in low-to-moderate income communities • Negative perception of banks in low-to-moderate income communities • Financial knowledge and behavior is a complex and personal process

III. RESEARCH Target Audience

High school students tend to be more willing to participate in programs that are offered either during or after school, when they have already dedicated their time to being on campus. Keeping this in mind, we wanted to design a program that took transportation factor out of attendance. Of the students surveyed, 45 percent agreed that they could benefit from more financial advice. While, 43 percent said they were unsure. Therefore, a program catering to this target audience needs to provide answers to the questions high school students have concerning budgeting and credit. After analyzing our research, we knew it was essential to address the basics of personal finance at high schools in low-to-moderate income communities. The survey results revealed that 39 percent of students learned the most about personal finance from their parents, and 28 percent of students said they learned the most from school. High schools represent a gateway for Ally Financial to implement a grassroots educational campaign because the school setting presents a captive audience with a lack of “real” financial experience. Also, the survey revealed that 43 percent of the students we surveyed do not have an account with a bank. This presents a prime opportunity for Ally Financial to build brand awareness among an overlooked market. Secondly, this gives Ally Financial the opportunity to build relationships with future consumers. Profile of 76110 Zip Code The 76110 zip code is a densely populated, urban zip code in Fort Worth, Texas. The population is diverse, young and mostly married couples. According to the United States Census Bureau, the total population of the 76110 zip code is 32,742. The majority of residents are Hispanic (20,550). Sixty-eight percent of the population is over the age of 18. Although, the median age is 28. Twenty-nine percent of the population that is 25 years and older has less than a 9th grade education level. Only 2.7 percent of the population has an associate’s degree. Sixty-eight percent of the population was born in the United States and 32 percent were foreign born. Furthermore, 24 percent of foreign born residents are not U.S. citizens. Most importantly, 54 percent of the population speaks Spanish and 31 percent speak English less than “very well.” Profile of 76107 Zip Code According to the United States Census Bureau, the total population of the 76107 zip code is 26,665. The majority of the population is White (18,137). Eighty percent of the population that is 25 years and older are high school graduates or higher. Eighteen percent of the population speaks a language other than English at home. Profile of 76135 Zip Code According to the United States Census Bureau, the total population of the 76135 zip code is 14,989. The majority of the population is White (13, 247). Seventy-six percent of the population that is 25 years and older are high school graduates or higher. Twelve percent of the population speaks a language other than English at home.

Ready for Real life? Secondary Research Our secondary research concluded that there is a need for financial literacy programs in the United States, especially in this recession. These educational programs are particularly valuable to low income individuals and immigrants. In addition, these programs must be tailored toward a specific demographic audience due to the high level of diversity in the U.S. and because tailored programs have higher learning percentages. Our secondary research also examined the characteristics that influence individuals’ success in financial literacy programs. Thus, concluding that race, income and language are the most influential factors pertaining to learning curves in financial literacy programs. Our research also addressed the links between knowledge and behavioral changes regarding financial management. Therefore, discovering that personal experience and media are the most influential ways to reach the target audience about personal finance. Lastly, our secondary research concluded that the zip codes 76110, 76107 and 76135 in Fort Worth, Texas, would be the best area for Ally Financial to implement its grassroots financial literacy campaign due to the demographic characteristics and geographic location.

Primary Research

Survey In order to gain better insight on the financial needs of high school students in low- to-moderate income communities, we surveyed 40 high school students in low- to-moderate income communities in the Fort Worth area. We created a survey containing demographic questions and semantic differentials in order to measure students’ knowledge, attitudes and behavioral characteristics pertaining to personal finance. Focus Group In November 2010, we conducted a focus group of approximately 36 high school students at Arlington Heights High School. The purpose of this focus group was to better understand how high school students in low-to-moderate income households communicate via social media, as well as what extra curricular programs are most successful in motivating student participation. Of the responses from the students, a few things were mentioned that were extremely helpful in the planning of our events. Three-fourths of the students agreed that participation in an extracurricular program is more likely if the student is allowed to get out of class for the event or if it is held at a time they would already be at the high school. This negates the need for planning how to find transportation to or from the event in question. All agreed that participating in large group presentations can become monotonous, and suggested that interactivity is key to keeping their attention. Participants mentioned that two weeks before, United Way hosted a “powderpuff football game,” wherein girls played in a football game and boys were cheerleaders. Students were given the opportunity to pay one dollar to watch the game and miss class for a good amount of the afternoon. Also mentioned, a blood drive held at the high school allowed those donating blood to miss a portion of classes. When asked, all students in both classes said they participated on Facebook. Few to none said they had a Twitter account, and some said they did not know what Twitter was. They suggested the most successful programs offered invites through the Facebook invitation platform.

IV. OBJECTIVES AND TACTICS GOAL 1: Educate area high school students and parents in low-to-moderate income households about budgeting, credit and personal finance. Objective 1: To activate a grassroots educational program with a minimum of four financial literacy sessions and one main event in low-to-moderate income communities by Feb. 28, 2011. Tactics: · Host an after school financial literacy session at Paschal High School reaching a minimum of 30 students. · Contact counselors at Lake Worth and South Hills to coordinate and facilitate financial literacy sessions during school hours. · Host 4 financial literacy sessions in high school economic classes. Create an interactive Powerpoint based on the Real Life with Ally game that teaches students about the reality and importance of their financial decisions. Objective 2: To reach a minimum 150 individuals with the Real Life with Ally campaign by Feb. 28, 2011. Tactics: · Create an interactive life-size financial literacy game to engage and teach students about the importance of personal finance. · Create online community presence on Facebook to encourage target audience to participate in the Real Life with Ally game. · Visit Paschal High School during lunch and after school to hand out a minimum of 200 flyers to encourage participation in the Real Life with Ally game. GOAL 2: Create greater brand awareness for Ally Financial among target audience. Objective 1: To earn recognition for Ally Financial as a leading authority in the area of financial literacy education and personal and consumer finance by Feb. 28, 2011. Tactics: · Pass out a minimum 100 existing SmartEdge financial literacy curriculum workbooks at the Real Life with Ally sessions and event at Paschal High School. · Navigate through some of the Ally Financial Tutorials at the four educational sessions. · Use materials that prominently display the Ally logo. · Attend school lunches and after school pick ups to speak to students, educators, and parents about Ally Financial and their free financial literacy tools. · Create materials in both English and Spanish to better reach parents.

Ready for Real life? GOAL 3: Increase understanding of budgeting and credit in high school students from low-to-moderate income communities. Objective 1: Increase understanding of budget sheet and monthly expenses by 10 percent by Feb 28, 2011. Tactics: · Have students use budget sheets in the Real Life with Ally game to create an interactive educational experience. · Create financial scenarios that are relevant to high school students. · Use budget sheets during the four financial literacy sessions at area high schools to demonstrate usefulness of budget sheets. · Leverage existing Ally Financial literacy curriculum workbook and website in conjunction with the Real Life with Ally interactive powerpoint. · Coordinate and facilitate four educational sessions and one large event wherein budgeting and credit are explained in engaging ways. Objective 2: Increase understanding of credit among Greater Fort Worth area high school students by 10 percent by Feb. 28, 2011. Tactics: · Tailor the campaign to meet the needs of high school students in low- to-moderate income communities. · Deliver the information in a creative, effective and innovative way that is relevant to real-world experiences among target audience. · Highlight key points in the SmartEdge financial literacy workbooks pertaining to credit, in conjunction to the Real Life with Ally interactive powerpoint at the four educational sessions. · Navigate through some of the Ally Financial tutorials pertaining to credit at the four educational sessions. · Host a debriefing session after the Real Life with Ally game explaining consequences of good and bad credit.

V. CAMPAIGN SUMMARY In the month of February, Cowtown Strategic Communications personally educated approximately 110 high school students about the importance of budgeting, maintaining good credit and the benefits of having a personal bank account, while also leveraging Ally Financial SmartEdge materials as beneficial educational resources. By street team promotion, social media and word-of-mouth efforts, Cowtown Strategic Communications was able to reach approximately 160 high school students and parents with the Real Life with Ally campaign. Based on our research, Cowtown Strategic Communications created Real Life with Ally, an interactive game that communicated the relevance of budgeting and credit scores to high school students while educating them about financial literacy. Our research suggested events targeted to high school students would be the most successful during school hours or required attendance times, so we held four separate financial literacy sessions at local high schools: two at Lake Worth High School, one at South Hills High School, and a final event at Paschal High School. Each of these high schools were public schools and located in low-to-moderate income areas with a significant population of Hispanic students. At three of the four events, an interactive powerpoint was presented and students used Real Life with Ally game cards to play out financial scenarios they may encounter in the coming years as they assume more financial responsibility. Throughout the presentation, students encountered three high school milestones, such as getting their first car, attending senior prom and preparing for college. During the presentation, students were also asked to draw Life cards, which resulted in either a financial gain or loss. Students recorded their Life card results on a budget sheet. Throughout the presentation students were asked questions about the current bills they paid, jobs they held, and what schools they may be planning to attend after their graduation. At the end of the presentation, students balanced their budget sheet and the financial outcomes of their decisions. The Life cards used during the classroom presentations were also used at the final event at Paschal High School. Students participating in an after school program at Paschal High School were invited and encouraged to play the Real Life with Ally game, a life-sized board game about financial literacy. Students were given clipboards and a budget sheet to record financial gains and losses as they progressed through three important milestones they will encounter in the coming years: buying a car, prom, and graduation. Each of these milestones high school students encounter has financial implications and students should be aware of how to budget for these big events. Using these events allowed students to relate to the financial content of the game. Also, the Life cards incorporated the unpredictable nature of life and the importance of financial stability. Following the completion of the game, students were debriefed by members of the Bateman team and asked to verbally demonstrate their knowledge about budgeting, banking and credit scores. The Bateman team members also helped students total their budget sheet scores and answer questions. In order for Cowtown Strategic Communications to evaluate the effectiveness of our Real Life with Ally campaign we created a pre and post test survey that was distributed at each educational session. The pre and post test survey evaluated the knowledge, attitude and behavioral changes of high schools students that participated in the Real Life with Ally campaign.

Ready for Real life? VI. EVALUATION GOAL 1 OUTCOME: Success Our four financial literacy sessions were held at Fort Worth ISD high schools in low-to-moderate income communitiesâ&#x20AC;&#x201D; two at Lake Worth High School, one at South Hills High School and a large event at Paschal High School. The campaign directly educated 110 students who attended financial literacy sessions and reached an approximate 160 additional individuals through street team efforts. Objective 1: To activate a grassroots educational program with a minimum of four financial literacy sessions and one main event in low-to-moderate income communities by Feb. 28, 2011. Outcome: Success We held three financial literacy sessions in economic courses. One additional session was hosted after school in the form of a large event. Objective 2: To reach a minimum 150 individuals with the Real Life with Ally campaign by Feb. 28, 2011. Outcome: Exceeded We educated 110 students through financial literacy sessions and an additional 160 were reached through street team efforts. GOAL 2 OUTCOME: Exceeded Through grassroots promotion of our large event and distribution of materials, Cowtown Strategic Communications was able to increase brand awareness for Ally Financial. Over 150 SmartEdge booklets were distributed to parents and students during and after school, and over 160 individuals were reached through street team efforts. Objective 1: To earn recognition for Ally Financial as a leading authority in the area of financial literacy education and personal and consumer finance by Feb. 28, 2011. Outcome: Exceeded We distributed over 150 SmartEdge booklets to the target audience of over 160 individuals reached through street team efforts and handing out flyers with the Ally logo prominently displayed. GOAL 3 OUTCOME: Exceeded Cowtown Strategic Communications conducted both pre and post-tests to determine the extent of the target audiencesâ&#x20AC;&#x2122; knowledge about budget and credit. After participation in the Real Life with Ally campaign, understanding of credit increased by an overall 18 percent. There was also an increase in the understanding of how to use a budget sheet by an overall 44 percent. These results demonstrate the effectiveness of presenting the information through scenarios relevant to the target audience.

Objective 1: Increase understanding of budget sheet and monthly expenses by 10 percent by Feb 28, 2011. Outcome: Exceeded We increased the target audienceâ&#x20AC;&#x2122;s understanding of how to create and use a budget sheet by 44 percent. Objective 2: Increase understanding of credit among Fort Worth ISD high school students by 10 percent by Feb. 28, 2011. Outcome: Exceeded We increased the target audienceâ&#x20AC;&#x2122;s understanding of credit by 18 percent.

Justifications In the campaign brief, one of the criteria our team needed to accomplish was to coordinate and facilitate a minimum of five financial literacy sessions in the month of February. During the planning phase of our campaign, we scheduled five sessions. Unfortunately, Fort Worth ISD cancelled five days of school in February due to increment weather. These ice days also cancelled one of our scheduled events. We were unable to reschedule due to the Texas Assessment of Knowledge Skills (TAKS) testing that takes place in February. After the incremental weather days, schools were busying making up for lost time and preparing for TAKS. The following week was TAKS and school districts were required to cancel all extracurricular programs until testing is over. The campaign brief stated that our team must meet CRA credit requirements. In order to meet CRA requirements we needed to the capture full address and zip code for each participant to ensure they live in a low or moderate-income area. On our pre-test survey at each event, we provided space for each students to fill out the CRA requirements, but students did not feel comfortable providing their name in addition to their residential information. We ensured that students were from a low-to-moderate income area through our secondary research. During the planning phase, we purposely chose high schools based upon their demographic information on the United States Census Bureau.

Ready for Real life? Participant Feedback “I think it was really fun. It was a good way for me to understand how to manage my money better.” “I enjoyed it. It helped me out with my choices in the future.” “Fun and helped me learn some more about money.” “I loved this experience, it’s close to the real thing.” “Real Life with Ally taught me how to use my money in a smart way.” “I really like your presentation because it made me understand a little bit more about the use of credit cards and how we should spend our money.” “I liked it because it tells you that whatever you choose today can affect what will happen tomorrow.

Ready for Real life?

APPENDIX 15

I. RESEARCH Intercept Survey Financial Survey Texas Christian Universityʼs Public Relations Student Society of America is participating in the 2011 Bateman competition. The competition client is Ally Financial and we are creating an educational financial literacy campaign. The data collected from this survey is confidential and will help TCU PRSSA develop an effective campaign. 1. Do you currently have an account with a bank, savings and loan, credit union, or investment firm? ___ Yes ___ No ___ Donʼt know/No response

2. Do you regularly use a check cashing service or pay day lender? ___ Yes ___ No ___ Donʼt know/No response

3. Thinking now about what you have learned about personal ﬁnance, where have you learned the most? ___ From your parents at home ___ Self- help books or media ___ From School ___ From friends ___ Internet ___ Community Center ___ Church ___ Learned on own/myself ___ Donʼt know

4. Which of these categories best describes your annual combined household income? ___ Under $25,000 ___ $25,000 - $50,000 ___ $50,000 - $75,000 ___ $75,000 - $100.000 ___ Over $100.000 ___ No response

5. Do you read and speak English ﬂuently? ___ Yes ___ No

6. Gender ___ Male ___ Female

7. Which of the following best describes your age? ___ 14-18 ___ 19-24 ___ 25-30 ___ 31-50 ___ 50 and over

8. Which of these categories best describes your ethnicity? ___White ___ Black/African-American ___ Hispanic/Latino ___ Asian ___ American Indian/Alaska Native ___ Native Hawaiian/Paciﬁc Islander ___ Other

6. Gender ___ Male ___ Female

Ready for Real life?

7. Which of the following best describes your age? ___ 14-18 ___ 19-24 ___ 25-30 ___ 31-50 ___ 50 and over

9. Including yourself, how many people live in your household? ___ 1 ___ 2-3 ___ 4+ ___ No response

10. Using the scale shown below, tell me how much you agree or disagree with the following statements: Strongly Agree

Agree

Unsure

Disagree

Strongly Disagree

Understanding how to use banks is hard. Information needed to open an account is complicated. It is too hard to keep track of money in a bank account. Language makes it hard to use banks. I am afraid that banks will share my financial information with others. Banks charge too much for services. Money that people put in banks is safe. Bank accounts offer benefits I could not get at currency exchanges, check cashers, or moneylending stores. Banks require customers to put in too much to open an account. Considering what you already know about personal finance, you could still benefit from some advice and answers to everyday financial questions from a professional.

Intercept Survey Results

Primary Research Results

Texas Christian Universityʼs Public Relations Student Society of America is participating in the 2011 Bateman competition. The competition client is Ally Financial and we are creating an educational ﬁnancial literacy campaign. The data collected from this survey is conﬁdential and will help TCU PRSSA develop an effective campaign.

1. Do you currently have an account with a bank, savings and loan, credit union, or investment ﬁrm?

No Yes

57%

43%

2. Do you regularly use a check cashing service or pay day lender?

No Yes No Response

10% 28% 63%

3. Thinking now about what you have learned about personal ﬁnance, where have you learned the most?

30 22.5 15 7.5 0

Parents Friends Church

Self Help books & Media Internet Learned by Myself

School Community Center Unsure

4. Which of these categories best describes your annual combined household income?

15 7.5 0

Ready for Real life? Parents Firends Church

Self Hel books & Media Internet Learned by Myself

School Community Center Unsure

4. Which of these categories best describes your annual combined household income? 15 11.25 7.5 3.75 0

Under $25,000 $75,000-$100,000

$25,000-$50,000 Over $100,000

$50,000-$75,000 No Response

5. 5. Do Do you you read read and and speak speak English English ďŹ&#x201A;uently? ďŹ&#x201A;uently? No No Yes Yes

3% 2% 98% 98%

6. 6. Gender Gender Male Male Female Female

45% 45%

55% 55%

7. 7. Which Which of of the the following following best best describes describes your your age? age? 14-18 14-18 18-24 18-24

8% 8%

19 93% 93%

Male Female

45%

55%

7. Which of the following best describes your age? 14-18 18-24

93%

8. Which of these categories best describes your ethnicity?

30 22.5 15 7.5 0

White Asian

African-American Native Hawaiian/PaciďŹ c Islander

9. Including yourself, how many people live in your household?

2-3 4+

13%

88%

Hispanic/Latino Other

Ready for Real life? 10. Using the scale shown below, tell me how much you agree or disagree with the following statements:

Strongly Agree

Agree

Unsure

Disagree

Strongly Disagree

Understanding how to use banks is hard.

(3%)

(28%)

(35%)

(30%)

(5%)

Information needed to open an account is complicated.

(3%)

(23%)

(28%)

(40%)

(8%)

It is too hard to keep track of money in a bank account.

(3%)

(10%)

(23%)

(45%)

(20%)

Language makes it hard to use banks.

(0%)

(8%)

(20%)

(45%)

(28%)

I am afraid that banks will share my ﬁnancial information with others.

(0%)

(25%)

(33%)

(30%)

(13%)

Banks charge too much for services.

(0%)

(25%)

(53%)

(20%)

(3%)

Money that people put in banks is safe.

(18%)

(43%)

(30%)

(8%)

(3%)

Bank accounts offer beneﬁts I could not get at currency exchanges, check cashers, or moneylending stores.

(5%)

(30%)

(58%)

(8%)

(0%)

Banks require customers to put in too much to open an account.

(0%)

(23%)

(43%)

(28%)

(8%)

Considering what you already know about personal finance, you could still benefit from some advice and answers to everyday financial questions from a professional.

(13%)

(45%)

(43%)

(0%)

Pre/Post Survey Using the scale shown below, tell me how much you agree or disagree with the following statements: Strongly Agree

Agree

Unsure

Disagree

Strongly Disagree

I understand the importance of good credit and the consequences of bad credit. I understand how creditors evaluate my credit report. I understand how to create a budget sheet and budget my monthly expenses. Understanding how to use banks is hard.

Banks charge too much for services.

Bank accounts offer benefits I could not get at currency exchanges, check cashers, or moneylending stores. I feel confident opening a bank account.

I am likely to open a checking or savings account. I am likely to budget my monthly expenses.

I am likely to apply for a credit card.

Address: ____________________________________________________________________________ City: ____________________________ State: _____________________ Zip Code: ______________ Gender ___ Male ___ Female Which of these categories best describes your ethnicity? ___White ___ Black/African-American ___ Hispanic/Latino ___ Asian ___ American Indian/Alaska Native ___ Native Hawaiian/Pacific Islander ___ Other

Ready for Real life? Using the scale shown below, tell me how much you agree or disagree with the following statements: Strongly Agree

Agree

Unsure

Disagree

Strongly Disagree

Banks charge too much for services.

Bank accounts offer benefits I could not get at currency exchanges, check cashers, or moneylending stores. I feel confident opening a bank account.

I am likely to open a checking or savings account. I am likely to budget my monthly expenses.

I am likely to apply for a credit card.

Please provide any additional comments or feedback about â&#x20AC;&#x153;Real Life with Ally.â&#x20AC;?

Pre/Post Event Survey Results S Agree Agree Unsure Disagree S Disagree 47% 31% 19% 0% 3% 47% 41% 13% 0% 0% 15 15

10 13

6 4

0 0

1 0

QUESTION #1: I understand the importance of good credit and the consequences of bad credit.

80% 60% 40% 20% 0%

Ques%on 2 Pre Post

S Agree

Agree

6% 16%

28% 25%

2 5

9 8

Unsure Disagree S Disagree 50% 9% 6% 41% 13% 6% 16 13

3 4

2 2

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

47%

31%

19%

Post

47%

41%

13%

QUESTION #2: I understand how to create a budget sheet and budget my monthly expenses.

80% 60% 40% 20% 0%

Ques%on 3 Pre Post

S Agree

Agree

9% 13%

28% 38%

3 4

9 12

Unsure Disagree S Disagree 63% 0% 0% 50% 0% 0% 20 16

0 0

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

28%

50%

Post

16%

25%

41%

13%

QUESTION #3: Bank accounts offer benefits I could not get at currency exchanges, check cashers, or moneylending stores.

80% 60% 40% 20% 0%

Ques%on 4 Pre Post

S Agree Agree Unsure Disagree S Disagree 22% 41% 31% 6% 0% 38% 34% 25% 3% 0% 7 12

13 11

10 8

2 1

0 0

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

28%

63%

Post

13%

38%

50%

QUESTION #4: I am likely to budget my monthly expenses.

80% 60% 40% 20% 0%

Ques%on 5 Pre Post

S Agree

Agree 6% 9%

28% 34%

2 3

9 11

Unsure Disagree S Disagree 50% 9% 6% 38% 13% 6% 16 12

3 4

2 2

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

22%

41%

31%

Post

38%

34%

25%

QUESTION #5: I am likely to apply for a credit card.

80% 60% 40% 20% 0%

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

28%

50%

Post

34%

38%

13%

Lake Worth High School

Ques%on 1 Pre Post

Ready for Real life? S Agree Agree Unsure Disagree S Disagree 31% 62% 8% 0% 0% 65% 31% 4% 0% 0% 8 17

16 8

2 1

0 0

QUESTION #1: I understand the importance of good credit and the consequences of bad credit.

80% 60% 40% 20% 0%

Ques%on 2 Pre Post

S Agree Agree Unsure Disagree S Disagree 12% 35% 42% 12% 0% 50% 42% 8% 0% 0% 3 13

9 11

11 2

3 0

0 0

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

31%

62%

Post

65%

31%

QUESTION #2: I understand how to create a budget sheet and budget my monthly expenses.

80% 60% 40% 20% 0%

Ques%on 3 Pre Post

S Agree

Agree

8% 38%

54% 42%

2 10

14 11

Unsure Disagree S Disagree 35% 0% 4% 19% 0% 0% 9 5

0 0

1 0

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

12%

35%

42%

12%

Post

50%

42%

QUESTION #3: Bank accounts offer benefits I could not get at currency exchanges, check cashers, or moneylending stores.

80% 60% 40% 20% 0%

Ques%on 4 Pre Post

S Agree Agree Unsure Disagree S Disagree 35% 42% 19% 0% 4% 58% 35% 8% 0% 0% 9 15

11 9

5 2

0 0

1 0

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

54%

35%

Post

38%

42%

19%

QUESTION #4: I am likely to budget my monthly expenses.

80% 60% 40% 20% 0%

Ques%on 5 Pre Post

S Agree Agree Unsure Disagree S Disagree 15% 31% 31% 12% 12% 35% 38% 12% 8% 8% 4 9

8 10

8 3

3 2

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

35%

42%

19%

Post

58%

35%

QUESTION #5: I am likely to apply for a credit card.

80% 60% 40% 20% 0%

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

15%

31%

12%

Post

35%

38%

12%

South Hills High School

Ques%on 1 Pre Post

S Agree Agree Unsure Disagree S Disagree 44% 35% 15% 6% 0% 47% 50% 3% 0% 0% 15 16

12 17

5 1

2 0

0 0

QUESTION #1: I understand the importance of good credit and the consequences of bad credit.

80% 60% 40% 20% 0%

Ques%on 2 Pre Post

S Agree Agree Unsure Disagree S Disagree 12% 26% 53% 6% 3% 35% 47% 9% 6% 3% 4 12

9 16

18 3

2 2

1 1

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

44%

35%

15%

Post

47%

50%

QUESTION #2: I understand how to create a budget sheet and budget my monthly expenses.

80% 60% 40% 20% 0%

Ques%on 3 Pre Post

S Agree

Agree

9% 24%

38% 35%

3 8

13 12

Unsure Disagree S Disagree 47% 6% 0% 41% 0% 0% 16 14

2 0

0 0

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

12%

26%

53%

Post

35%

47%

QUESTION #3: Bank accounts offer benefits I could not get at currency exchanges, check cashers, or moneylending stores.

80% 60% 40% 20% 0%

Ques%on 4 Pre Post

S Agree Agree Unsure Disagree S Disagree 24% 50% 26% 0% 0% 35% 56% 9% 0% 0% 8 12

17 19

9 3

0 0

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

38%

47%

Post

24%

35%

41%

QUESTION #4: I am likely to budget my monthly expenses.

80% 60% 40% 20% 0%

Ques%on 5 Pre Post

S Agree Agree Unsure Disagree S Disagree 21% 44% 26% 6% 3% 32% 35% 15% 9% 9% 7 11

15 12

9 5

2 3

1 3

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

24%

50%

26%

Post

35%

56%

QUESTION #5: I am likely to apply for a credit card.

80% 60% 40% 20% 0%

S Agree

Agree

Unsure

Disagree

S Disagree

Pre

21%

44%

26%

Post

32%

35%

15%

Paschal High School

Ques%on 1 Pre Post

Ready for Real life? Focus Group Questions Good morning and thank you for taking the time to meet with us today. Our discussion will last for approximately 90 minutes. We are Cowtown Strategic Communications, a student run public relations firm competing in the 2011 Bateman Competition, and we want to learn more about extracurricular programs in public high schools. All information is confidential. Any questions before we start? Remember a time when you participated in an after school or extracurricular program.

What motivated you to participate in that program?

What other kinds of programs are offered?

How did you learn about this activity?

Have you ever been invited to an extracurricular activity or program via Facebook or Twitter?

What barriers have you encountered in trying to attend afterschool and extracurricular activities?

Is there anything else you would like to share with us?

Secondary Research Essay Previous research has shown that compared to those with high-incomes, low-income persons are much less likely to have bank accounts, less likely to save or invest, and more susceptible to predatory lending practices (Min, 2009). The need for financial education has never been greater, as the United States is emerging from the credit crisis and consumers are facing damaged credit, job losses, foreclosures and bankruptcy. This case study focuses on the effects of financial education programs for low-to moderate-income individuals and immigrants. First, are financial literacy programs successful in the United States? If so, what characteristics make a financial education program successful? Second, what zip codes in Fort Worth, Texas, have the specific demographics that meet the needs for Ally Financial grassroots literacy program? Lastly, how are households managing their finances, making the connection between knowledge and behavior and searching for financial information? Effects of Financial Education Programs Studies have found that school-based financial training had positive effects on financial knowledge and behaviors of youth. Low income youth are more likely to drop out of school and therefore have fewer chances to access school-based education programs. The study by DeVaney et al. (1995) found that younger and more educated participants were more likely to change their savings and investing behavior after receiving training (Min, 2009). Therefore, it may be beneficial for Ally Financial to target ninth grade high school students for its financial literacy program. A study conducted using a pre and post-test true/false questionnaire found that participantsâ&#x20AC;&#x2122; knowledge changes after completing a financial literacy program, which indicates that these programs have promise for improving basic financial knowledge among low-income groups. The results also revealed that those who were primary English speakers and those with more education experience had higher knowledge gains (Min, 2009). Furthermore, Hispanics experienced significantly higher knowledge gains from the training than white or African American participants (Min, 2009). Banking Knowledge and Attitudes of Immigrants The number of immigrants grows by about 1 million each year (Min, 2009). Due to the cultural diversity of the immigrant population in the United States, there is a specific need for financial institutions to provide training. These rapidly emerging immigrant communities are ripe markets for financial institutionsâ&#x20AC;&#x2122; services and should be considered long-term investments. The lack of access to bank accounts, coupled with limited educational alternatives and inadequate financial knowledge, lead many immigrants to rely heavily on high-cost and poorly regulated alternative financial sectors, such as check cashers (Min, 2009). Mexican and other Latin American immigrants have the highest rates of being unbanked (Min, 2009). A study conducted by Zhan, Anderson and Scott tested 163 immigrants on a financial education program. They conducted a likert-type-scale pre and post-test containing six broad categories of attitudinal questions based on (1) cost and eligibility issues, (2) banking benefits, (3) staffing issues, (4) difficulties in understanding or using banks, (5) location and convenience and (6) privacy issues. The

Ready for Real life? results from the study suggested that immigrants’ difficulties in using mainstream financial institutions derive at least partially from their limited information about banking services rather than from more fundamental problems with banking services (Min, 2009). The results of this study can help Ally Financial focus its grassroots campaign on targeting the high immigrant population in the 76110 area code. Also, the research confirms that the gap between immigrants and use of financial institutions is their limited knowledge of banking services. Connection Between Knowledge & Behavior Financial education is vital for everyone in order to produce citizens who make well informed financial decisions and to increase economic security for all. Financially secure individuals and families are better equipped to contribute to the vital development of their communities. A test that covered cash-flow management, general credit management, saving, investment, mortgages and a broad category of other financial management topics separated individuals’ responses into high and low index scores. This study further suggested that financial behaviors may be hierarchical, that is one may precede another (Beverly, 2003). Also, an increase in knowledge does not necessarily result in behavioral changes. Rather, people may gain knowledge as they gain financial experiences, such as buying a house or opening a savings account, but there is a third variable such as family experiences, and economic socialization that also affects financial knowledge and behavior (Beverly, 2003). If knowledge is linked to behavior, then it is important to gather information on where individuals obtain their financial knowledge. Households in the surveys of consumers reported learning from a variety of sources, but experience, friends, family and the media were among the top sources for all households (Beverly, 2003). Specifically, respondents were asked, “Given your time and the way you would like to learn, which of the following ways would be effective for you to learn about managing your money?” Overall, households preferred to learn about money management through media sources (television, radio, magazines and newspapers) informational videos and brochures (Beverly, 2003). High school and college courses were also found to be a statistically significant way to learn about financial topics for those scoring high on the credit management index. Public service announcements are also an effective source that stimulates thinking and provides motivation, in addition to helping individuals connect with financial education resources. Most importantly, personal experience was reported as the most important way for each of the financial practice indexes. In general, individuals are looking for sources that have “just in time” availability centered around reaching them at a “teachable moment.” Consumers who are provided information when it is immediately relevant and applicable have a greater chance of recognizing the value of the information and making a behavioral change (Beverly, 2003). Ultimately, what can be gained from this research survey is that one way to increase knowledge is to gain experience. Financial education awareness campaigns and learning tools should be coupled with audience-targeted motivational and educational strategies to elicit the desired behavioral changes (Beverly, 2003).

References About Ally. Ally Financial Inc., 2009. Web. 9 Dec. 2010. <http://www.ally.com/about/>. Beverly, S., Hilgert, M., & Hogarth, J. (2003). Household Financial Management: the connection between knowledge and behavior. Federal Reserve Bulletin, 309-322. Retrieved from IDEAS. Braunstein, S., & Welch, C. (2002). Financial Literacy: an overview of practice, research, and policy. Federal Reserve Bulletin, 445-457. Retrieved from IDEAS. Giving Back. Ally Financial Inc., 2009. Web. 9 Dec. 2010. <http://www.ally.com/about/>. Hooverâ&#x20AC;&#x2122;s, Inc. (2010). Ally Financial, Inc. Retrieved from <http://premium.hoovers.com.ezproxy.tcu.edu/ subscribe/co/overview.xhtml?ID=ffffhcjfrffjsxctsx> Min, Z., Anderson, S., & Scott, J. (2009). Banking Knowledge and Attitudes of Immigrants: Effects of a Financial Education Program. Social Development Issues, 31(3), 15-32. Retrieved from SocINDEX with Full Text database. Min, Z., Anderson, S., & Scott, J. (2006). Financial Knowledge of the Low-income Population: Effects of a Financial Education Program. Journal of Sociology & Social Welfare, 33(1), 53-74. Retrieved from Psychology and Behavioral Sciences Collection database. SmartEdge. GMAC , 2006. Web. 9 Dec. 2010. <http://www.smartedgebygmac.com/SmartEdge/en/index. html>. U.S. Census Bureau; Census 2000, Summary File 1; generated by Jane Jones; using American FactFinder; 29 Nov. 2010. <http://factfinder.census.gov>;

Street Team Flyer

Visit the counseling office for details and sign-ups.

24th Y R A U R FEB COMING ERIA T E F A C SCHOOL . 5:30 p.m

PREPARE YOURSELF FOR

III. PROMOTION Promotional Flyers

Ready for Real life?

WANNA

PLAY?

t 4 2 Y R A U R B E F G COMIN IA R E T E F A C L O O H C S . 5:30 p.m Teaser Flyer

Press Release

Ready for Real life?

Media Alert

Ready for Real life? In Kind Donation Request

Tiffany Rogers Bateman Team Co-Leader t.rogers@tcu.edu (682)-564-6146

Real Life with Ally Facebook Event Page

About Our Media Coverage: the109.org Due to the guidelines set for the 2011 Bateman Competition, we were constrained to using strictly campus publications and media. The109 is a local news site, operated by Texas Christian Universityâ&#x20AC;&#x2122; s Schieffer School of Journalism, that covers the 76109 zip code in Fort Worth. Student reporter, Lauren Galippo, was present at the large Real Life with Ally event hosted at Paschal High School. A DVD with her news story for the109.org can be found in the back of this campaign book.

Ready for Real life? Event Logo and T-shirt

III. EVENT PLANNING AND INFORMATION Budget: $300 Expense Report Bateman Budget Category Itemized Dollar Amount INITIAL $300.00 Expenses Food

Payday Bars Water Fruit Plate Chips Cupcakes

($32.76) ($10.35) ($14.97) ($9.98) ($11.99)

Paper Products

Plates

($8.99)

Misc. Supplies

Streamers, tablecloths, ($46.85) game props, balloons

TOTAL

REMAINING

($135.89) $160.15

Ready for Real life? Budget: In-Kind Donation Report Donors Itemized MAX DONATION AMOUNT

Dollar Amount $1,000.00

Schieffer School of Journalism Chick-fil-a

T-Shirts

($350)

Chicken Nuggets

($134.20)

Bennet Printing and Office Supply

Paper Products and Lamination

($97.82)

TOTAL

REMAINING

($582.02) $417.98

10 First day of classes

Mon

Sun

January 2011

Start sketching game board

25 Meeting with Ophelia

18 Brainstorm event ideas

11 Review research

Tue

Wed

Contact Lake Worth and South Hills HS

27 Work on event details

Initial event planning

20 Decide events theme: â&#x20AC;&#x153;Real Life with Allyâ&#x20AC;?

13 Review research

Thu

2011 Bateman Event Calendar

Fri

Sat

Campaign Schedule

Super Bowl XLV

Sun

Street Team at Paschal High School

28 Take down social media outlets

22 South Hills HS Event

Visit ESL class

Make HS signup sheet

21 Send Media Alert

15 Begin Ally board game construction

Launch events on social media outlets

8 Finalize event details

Street Team at Paschal High School

23 Event material pickup

Signups begin at Paschal High School

SNOW DAY

Send Press Release for Paschal HS Event 24 Paschal “Real Life with Ally” Event

17 Prepare for HS events (review PPT/rehearse)

Make high school PPTs

10 Finalize Donor Letter and Press Release

SNOW DAY

Thur 3 Continue HS contact to finalize event dates

Wed 2

Tues 1 Launch social media

14 Pickup board construction supplies

Mon

February 2011

2011 Bateman Event Calendar

Fri

Board construction with PRSSA members

18 Lake Worth HS Events

SNOW DAY

Sat

12 “Life Cards” scenario drafting

Ready for Real life?

28 Book due to PRSSA

SPRING BREAK

7 Compile book

6 Compile book

Tues

Finish book editing and begin printing

22 Send Thank-you notes

SPRING BREAK

Begin making campaign video

Thank-You notes written

Wed

9 Compile book

8 Compile book

Review post-surveys

1 Debrief special events

Mon

Sun

March 2011

24 Begin packaging final campaign items

SPRING BREAK

Being campaign book editing

10 Compile book

Start campaign book and design

3 Assign parts

Thur

2011 Bateman Event Calendar

25 Mail campaign book to PRSSA

SPRING BREAK

Sat 5 Compile book

Fri 4 Compile book

Ready for Real life? Photo Recap A photo recap of our four events can be found in the back of this book. Photos were taken at the three high schools that participated in the event and those photographed consented to being photographed through a blanket consent form signed by parents at the beginning of the school year.

Real Life with Ally Crossword Puzzle

Ready for Real life? Real Life with Ally Budget Sheet

BUDGET WORKSHEET Category: Monthly Income Car Payment Prom Expenses Monthly Rent Student Loans Other Expenses 1) 2) 3) 4)

Cost:

TOTAL:

BUDGET WORKSHEET Category: Monthly Income Car Payment Prom Expenses Monthly Rent Student Loans Other Expenses

Cost:

Real Life with Ally Game Cards

Ready for Real life?

Real Life with Ally Powerpoint Slides BUDGET !  The

best way to ensure you build and maintain good credit is to live within your means !  The easiest way to do that is to budget wisely

FINANCIAL PLANNING Slide 1

Slide 2

COLLECT ALL YOUR BILLS

CLASS EXERCISE

!  Rent

Shannon

Mason

!  Favorite

statement register !  Car payment book or statement !  Receipts for gas, dates, etc. !  Utility bills !  Credit card bills !  Checkbook

movie: Devil Wears Prada !  Favorite color: green (like money) !  Hobby: spending time in the mall !  Favorite food: Lobster

Slide 3 OCCUPATION

movie: Pursuit of Happiness !  Favorite color: blue !  Hobby: spending time in nature !  Favorite Food: Ramen Noodles

Slide 4 OCCUPATION

Shannon

Mason

!  Just

got hired at Pier One !  Works 12 hours a week !  Makes $349 per month

Slide 5

got hired at Starbucks !  Works 15 hours a week !  Makes $435 per month

Slide 6

Ready for Real life? WHICH CAR SHOULD THEY BUY? Shannon

Mason

!  Jeep

!  Saturn

!  !

Liberty

2005 $125 per month

!  Range !  !  !

DRAW A LIFE CARD & GET PAID

!  !

Rover

!  Jeep

2006 $700 per month

!  !

Toyota 4Runner !  !

2010 $300 per month

Slide 7

Ion

2006 $100 per month

Compass

2007 $200 per month

Honda Civic !  !

2008 $210 per month

Slide 8

THEIR CHOICES Shannon

Mason

!  2006

!  2007

Range Rover

$700 per month

Jeep Compass

$200 per month

DRAW A LIFE CARD & GET PAID Slide 9

Slide 10

WHICH PROM PACKAGE SHOULD MASON CHOOSE?

WHICH DRESS SHOULD SHANNON CHOOSE?

!  Cheap-$50

!  $500

!  !  !

Dinner at Chili’s 2 tickets corsage

from Neiman Marcus

!  $100

from Macy’s

!  Average-$75 !  !  !

Dinner at Macaroni Grill 2 tickets Bouquet for date

!  Luxury-$200 !  !  !  !

Dinner at Eddie V’s 2 tickets Bouquet for date Limo

Slide 11

Slide 12

THEIR CHOICES Shannon

Mason

!  $500

!  $75

dress from Neiman Marcus

Average prom package

DRAW A LIFE CARD & GET PAID Slide 13

Slide 14

WHAT SHOULD THEY DO AFTER GRADUATION?

THEIR CHOICES

!  Junior

Shannon

Mason

!  TCU

!  Community

!  Rent

College Year College !  Technical School !  Managerial Track at Current Jobs !  Four

for on campus housing !

$750 per month

!  Student !  !

Loans

$30,000 per year For tuition, books and other fees

Slide 15

College for a one bedroom apartment !

$550 per month

!  Student !  !

Loans

$3,000 For tuition, books and other fees

Slide 16

DISCUSSION !  What

did Shannon and Mason do wrong? should they have done? !  How much is Shannon in debt now? !  What

DRAW A LIFE CARD & GET PAID Slide 17

Slide 18

Ready for Real life? THE CONSEQUENCES OF BAD CREDIT !  You

may be charged a late fee credit card may be frozen !  You could be denied services !  You could face legal action !  You could lose your property !  Your

FINANCIAL PLANNING Slide 19

Slide 20

THANK YOU