Ele:Vate Economic Literacy Education: Vital Assets for Transformation & Empowerment Training for the 3 rd “R”

ele:VateEconomic Literacy Education:

Vital Assets for Transformation & Empowerment

Training for the 3rd “R”

ele:VateMission: to help Christian community ministry practitioners educate and excite urban youth about economics, financial literacy, and entrepreneurship.

• Developing the capacities and potentialities of people and of neighborhoods to bring greater hope and renewal to economically distressed areas

• Small business development & job creation

• Job training, job placement, job retention

• Raising up indigenous entrepreneurs

• Successful integration into the mainstream economy – e.g., managing credit, building assets

CCDA’s 3CCDA’s 3rdrd “R”: “R”:It’s About Community Economic DevelopmentIt’s About Community Economic Development

With each of the 3 “R”s, workshops try to discuss…

• WHAT it is

• WHY it matters

• WHAT the Word has to say about it

• WHAT it looks like

• HOW to advance it

• HOW others have done it

CCDA’s MethodCCDA’s Method

(1) Lay the Biblical foundation or framework

(2) Offer introductory thoughts on practical application

This Workshop’s 2 MandatesThis Workshop’s 2 Mandates

Thurs 1:00: Biblical Foundations of Economic Literacy

Thurs 2:45: Economic Education for Urban Youth

Friday 1:00: Can you trust me with your credit card?

Friday 2:45: The Job Club

Sat 1:00-4:00 Creating True Wealth—Youth Entrepreneurship Parts I & II

The ele:Vate Workshop TrackThe ele:Vate Workshop Track

FOUR BIBLICAL PARADIGMSFOUR BIBLICAL PARADIGMS

1. THE CREATION PARADIGM

2. THE CONSUMATION PARADIGM

3. THE WISE LAW PARADIGM

4. THE KINGDOM PARADIGM

The CREATION ParadigmThe CREATION Paradigm

4 Central Themes

1. CREATIVITY: man is made in God’s image (Gen. 1:26). The main characteristic we see of God in this part of scripture is that God is creative.

2. Our VICEREGENCY: God grants humankind dominion over nature, to steward it with authority, responsibility & care; man names things (Gen. 1:28-30; 2:15; 2:19)

3. WORK that is pleasurable, fruitful, productive, satisfying

4. FREEDOM (it’s implicit and makes possible the first three themes)

The CONSUMMATION ParadigmThe CONSUMMATION Paradigm

Central Themes

1. Our VICEREGENCY: Rev. 22:5 talks about how we–the fully redeemed people of God–will reign forever and ever.

2. We see CREATIVITY & pleasurable WORK

The Consummation ParadigmThe Consummation Paradigm

A Radical Reality:

The kings of the earth will bring their splendor into it [the New Jerusalem].

-- Rev. 21:24

The WISE LAW ParadigmThe WISE LAW Paradigm

Central Themes

• Sabbath rest for people, animals, and land

• Stewardship, not exploitation of nature

• Individual responsibility & freedom

• Just weights and measures (Lev 19:35-36)

• Special safety nets for the widow, the orphan and the stranger

• Avoid sloth & folly (Prov. 12:27; 28:19)

• Practice thrift (Prov. 21:20)

• Future orientation (Prov. 13:22)

• Invest and take risks (Prov. 31)

The KINGDOM ParadigmThe KINGDOM Paradigm

Central Theme: Principles for our “In Between” Time

How God wants us to BE and to LIVE in this world that is still fallen but that has begun to be restored because the Kingdom has broken into it.

• Continued assumptions (from the Wise Law)

• But a new orientation, because of the Kingdom’s “now-ness”

The Kingdom ParadigmThe Kingdom Paradigm

Some Continued assumptions (from the Wise Law)

• Necessity of hard work

• Assumption of private property

• Mercy and justice for the vulnerable

• The folly of hoarding

• The need for risk assessment

The Kingdom ParadigmThe Kingdom Paradigm

But A New Charge, in light of the Kingdom’s Presence:

• How to give people a foretaste of the consummation?

• How do we promote God’s ideal today?

Challenges of the Urban Ministry SettingChallenges of the Urban Ministry Setting

1. Economic distressed communities – few job opportunities, few home-owners

2. Lack of hope for the future – crime, poor schools, domestic violence, drugs, unemployment all influence youth

3. Street culture that vigorously promotes present-day orientation; “props”

4. Socially isolated communities – lack of networks through which to hear about good opportunities; “spatial mismatch” of jobs and workers and poor public transport

5. Less-than-ideal consumer habits – e.g., rent-to-own; little trust in/use of financial institutions (banks); high mark-up convenience shopping

6. Economic injustices – redlining, lack of business entry, discrimination in hiring

Applications: What Can Ministries Do?Applications: What Can Ministries Do?

Sow hope!

(the Anathoth principle)

Applications: What Can Ministries Do?Applications: What Can Ministries Do?

Teach financial life skills

• Only 10.2% of high school seniors score a “C” or better on the Basic Financial Survival Skills Test.

• 79% of students ages 16 through 22 have never taken a class in personal finance.

• 42% of teenagers between ages 18-19 have credit cards.

• 64% of teenagers don’t know what an “interest rate” is.

• Two-thirds of teens admit that they could use more lessons on money management.

• 70% of college students hold credit cards. One-fifth carry debts on these cards of more than $10,000.

• Average American household owns 14.7 bank, store, & credit cards & carries an unpaid balance of $5900 on them!

• In the 1998 "USA Weekend" survey, 42% of teenagers who responded expect to earn $75,000 or more per year by age 30. (According to government statistics, the average annual salary for a 30-year-old is about $27,000.)

FAST FACTS:FAST FACTS:Why Financial Literacy is SO CrucialWhy Financial Literacy is SO Crucial

Applications: What Can Ministries Do?Applications: What Can Ministries Do?

Practice integration into the economy

(as it is)

Applications: What Can Ministries Do?Applications: What Can Ministries Do?

Economic Justice Advocacy

(to reform it as it should be)

Applications: What Can Ministries Do?Applications: What Can Ministries Do?

Promote entrepreneurship