This document discusses reaching multiple generations with financial education. It identifies six generations - Depression/GI, Silent, Baby Boomers, Gen X, Millennials, and Generation Z. Each generation has distinct core values shaped by formative life events. Financial needs and tasks differ across life stages. Teaching methods should consider generational preferences to effectively deliver financial education to all ages. The goal is to enhance understanding of generational differences and promote intergenerational communication skills.
Engaging Communities to Reduce Poverty and Build Opportunity
Teaching Financial Literacy: Engagement of Multigenerational Learners
1. Reaching Multiple Generations
Becky Hagen Jokela & Lori Hendrickson
Extension Educators,
University of Minnesota Extension
Barbara Haynes, Extension Educator
University of Wisconsin Extension
2. Increase knowledge and understanding of the six
generations.
Enhance comprehension of how generational
differences affect communication patterns and
specifically financial education.
Promote skills for effective intergenerational
communication and financial education.
3. Generally about 20 year span
Happenings during formative years affect
attitudes, values and perceptions
Core values of the large group
Stencel and Bjorkland (2008)
4. Depression/GI 1901-1924
Silent 1925-1940
Baby Boomers 1941-1964
Gen X 1965-1980
Millennials 1981-2000
Generation Z or @ 2001 – present
Underwood (2007)
5. Depression/GI 1901-1924
Uniformity - good and normal for all to agree, work &
look the same
Cooperative - put trust in government,
authority & community; civic-minded
Winners and achievers
Leaders
Public interest over personal gain
Underwood (2007)
6. Silents
Silents 1925-1940
Ambitious, seeking achievement, power and status
Spend money freely
Strong work ethic
Respect for authority
Delayed reward
Loyalty to organization
Desire to be youthful & vital
Underwood (2007)
7. Boomers 1941-1964
Enjoy working in creative and independent manners
Teamwork
Personal gratification
Health & wellness
Require lots of interaction and “talk” time
Workaholic
Underwood (2007)
8. Gen X 1965-1980
Fiercely self-reliant
Require regular feedback
Are adaptable and informal
Technologically capable
May lack interpersonal skills
Require relevance in tasks given
Underwood (2007)
9. Millennials 1981-2000
Social
Easily able to multi-task
Comfortable with active learning
Motivated by money and earning potential
Goal-oriented
Experienced with technology
10. Generation Z or Generation @ 2001 - present
Highly connected to media and technologies
Less used to interpersonal communication
Active consumers
High influence over how parents spend money
More highly indulged
Strong work ethic and social conscientious
11.
12. Financial tasks differ at different stages in life
Various generations deal with these tasks in different
manners
The generation we are born into influences our
expectations
Find ways to promote financial education through
methods to meet each generation’s needs
*These are generalizations, not necessarily
applicable to all individuals with whom we
work.
13. Building the foundation
Early accumulation
Rapid accumulation
Financial independence
Conservation
Distribution
Sunset
Bert Whitehead, Cambridge Advisors
14. Financial tasks differ at different stages in life
Various generations deal with these tasks in
different manners
The generation we are born into influences
our expectations
Differing methods will help to meet each
generation’s needs
15. Give plenty of time for activities & group work
Provide both group & individual response
opportunities
Provide opportunities to share experiences, but
don’t make everyone respond
16. Change activities often-variety of types
Use technology pairs-teaming up learners
Games, puzzles- individual or group
Role play-use cautiously!
Be flexible in allowing participants to opt out
17. Communicating Across the Generations JCEP PPT, Beverly J.
Stencel, Professor Community Resource Development, University of
Wisconsin-Extension and Annette Bjorklund, Associate Professor 4-H
Youth Development, University of Wisconsin-Extension
Teaching Across Generations. Effective Teaching & Learning
Department, instructionaltech@baker.edu, Baker College, 2005.
Teaching Strategies/Methodologies: Advantages,
Disadvantages/Cautions, Keys to Success
The Generational Imperative, Chuck Underwood, 2007
Bert Whitehead, Cambridge Advisors
18. Becky Hagen Jokela- hagen022@umn.edu
Lori Hendrickson- lhend@umn.edu
Barbara Haynes – barbara.haynes@ces.uwex.edu
Editor's Notes
Welcome to Financial Literacy Education: Reaching Multiple Generations.
I am Barbara Haynes Extension Educator University of Wisconsin Extension.
I’d like to introduce my colleagues and co-presenters Becky Hagen-Jokela and Lori Hendrickson both Extension Educators with the University of Minnesota Extension.
Never before have we experienced so many living generations at one point in time as we encounter today. We also recognize that the newest generations access information much differently than previous generations. This served as the basis for our research on how do we best communicate financial education to various generations and what information is most pertinent to people at specific stages/ages in their lives?
Our goals for today are to help you:
In a review of the literature we found a common definition of what comprises a human generation.
Beginning and end dates will vary by researcher, but most are within one to three years of each other.
Placement within the 20 year span can affect your attitudes, values and perceptions as well. The closer you are to the beginning or end of a generation may find you aligning yourself with the previous or the next generation.
Generations we currently work with include the following.
Each generation has its own unique characteristics. We know that these are geneeralizations of the entire group and individuals can vary.
With a show of hands tells us with which generation you most align.
Are there any suprises you observed? Any comments you would like to make about your generation or others?
