CFEE Guidebook

TABLE OF CONTENTS Preface ........................................................................ 2 Acknowledgments . .......................................... 3 The Financial Coaching Imperative ....................................................... 4 A Call to Action for Educators .................................... 5 Supporting the Community College Mission ........ 6 Financial Literacy Education Is Important – . But It’s Not Enough . .................................................. 11 The Money Smart Forum . Coaching Model and Outcomes ........................... 11 Addressing the Unique Economic Needs . of Community College Students . .......................... 12 The Important and Varied Role of Coaches . ..... 15 Financial Coaching Basics . ............... 16 Strategies & Practices for Implementing Financial Coaching . ................................ 19 Incorporate Financial Coaching . into Initiatives for Student Success ....................... 19 Partner with Organizations . and Programs on Campus ...................................... 20 Build a Relationship of Trust . .................................. 23 Structure Coaching around . the Needs of Students .............................................. 24 Design Training around . the Goals of Your Program . ..................................... 26 Set Measurable and Achievable . Financial Goals for Participants ............................. 27 Connect Financial Goals to Career Planning ..... 28 Motivate Students through . Reminders and Rewards ......................................... 28 Incorporate Technology to Track . Coaching Progress and Results ............................ 29 Build on Your Success .............................................. 30 Recommendations for Action .......... 31 Appendixes ................................................... 33 1 Recommended Resources ................................ 33 2 Financial Coaching Assessment Form ........... 35 3 Action Plan and Coaching Progress Form ...... 38 4 Sample Money Smart Forum Flyer .................... 40 5 Participant Outcomes – 5-Year Data . ................ 41 Notes . ............................................................... 42