New STAR Event Demonstration: Financial Planning

1. New STAR Event Demonstration: Financial Planning

2. A note from national office… *Workshop demonstrations are intended only as examples of the new events. *Questions Policy: All questions must be submitted to the State Adviser. If the State adviser is unable to answer, it must be submitted by the State Adviser in writing to Andrea Chomistek at achomistek@fcclainc.org.

3. A note from national office… These workshop demonstrations are intended only as examples of the new events. The presenters have bravely volunteered to prepare projects in a very short time period to give an idea of what the new events will entail. These demonstrations may not reflect the precise event rules. Please read the event rules carefully for specific information.

4. Definition Financial Planning is an individual event that recognizes participants who apply skills to manage the costs of an event. An event is defined as any upcoming occasion that will bring changes and/or new experiences and accompanying financial challenges. Participants select an event, determine a budget, prepare a portfolio, and give an oral presentation.

5. Examples of Events Include, but are not limited to: • Preparing to move into a dormitory • Hosting a party or other celebration • Operating a vehicle for one month • Taking a school or personal trip • Paying school expenses for one grade level

6. General Information Categories: Junior -- grades 6-9 Senior – grades 10-12 Occupational – grades 10-12 • Table will be provided • Participants may bring easel(s) • Outlets available upon request through State Adviser • May use visuals • May not wear costumes • Spectators may not observe

7. Allowable Elements • Audio • Easel(s) • Visual Equipment • Visuals * See STAR Events Manual glossary for detailed definitions of these terms Though these elements are allowed, they are not provided.

8. Procedures and Time Requirements • 10 minutes Room Consultant and Evaluator review • 5 minutes Participant set up • 5 to 10 minutes Oral Presentation • 5 minutes Evaluators interview • Total time required for this event is approximately 30 minutes.

9. Portfolio Specifications • Must contain: • Project ID Page • Divider Pages • FCCLA Planning Process • Profile of Event • Comparison Shopping • Event Plan • Resource Summary

10. Project ID Page • One 8 ½” x 11” page on plain paper with no graphics or decorations. • The ID page must include participant’s name, chapter name, school, city, state, FCCLA national region, and project title.

11. Divider Pages • 0-5 divider pages, may be tabbed; may contain a title, section name, graphics, thematic decorations, and/or page numbers. • Must fit within the cover dimensions. • Should NOT include other content.

12. Planning Process Summary Page One to two 8 ½” x 11” page(s) summarizing how each step of the Planning Process was used to plan and implement the project; use of the Planning Process may also be described in the oral presentation.

13. Profile of Event One to three pages containing a profile of the event; must include: • Type of event • Description of the role of needs and wants • Goal statement (s) • Description of the role of values and/or priorities • Summary of challenges involved in developing a workable financial plan.

14. Comparison Shopping Three to twelve pages; must include evidence of comparison shopping for at least five goods and/or services • Graphics may be used • Comparison shopping is defined here as an examination of the costs and features of two or more forms or sources of a specific product or service.

15. Event Plan One to five pages using the provided chart format; must include- • Sources and amount of income budgeted • List of all products/services to be acquired, sources selected, key features considered, quantities, unit costs, and total costs. • Graphics may be used.

16. Resource Summary One to two pages; must include- • List of all resources, both human and nonhuman, used to complete the project including sources of product/service information and sources of advice. • Use an organized, consistent format. • Include a paragraph at the beginning of the list to summarize what was learned about resources while completing the project.

17. Appearance Portfolio must be neat, legible, and professional and use correct grammar and spelling.

18. Should be 5 to 10 minutes. Warning will be given at 9 minutes. Participant will be stopped at10 minutes. Oral PresentationSpecifications

19. Oral Presentation continued • The oral presentation should be 5-10 minutes in length and delivered to evaluators. • Evaluation based on: length, introduction, explanation of financial situation, voice qualities, pronunciation, grammar, body language, organization, use of portfolio, visuals, summary, responses to evaluators’ questions, and knowledge.

20. Clear Expectations Eliminate subjectivity Align with standards Show skills developed by completing the project From Rating Sheet to Rubric

21. Adviser Tip Sheet Each new event has Teaching Tips for Advisers with ideas of how to incorporate STAR Events into your classroom and lists how the event aligns with Career Clusters, FACS National Standards, 21st Century Skills, and others.