P.O. Box 194 Waiʻanae, HI 96792

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Financial Literacy

Financial literacy program was created to help Native Hawaiian families connect to personal finances through cultural concepts and mo’olelo, or stories. Delivering financial and business concepts through a cultural lens, improves retention and impact of difficult, and often, new material. Participants can connect to the content and apply the curriculum in a way that will affect behavior and perspective in a positive manner.

 Our goal is to help Native Hawaiians, and participants, to understand that many of these financial concepts are not for Westerners alone, but that our ancestors had a similar economy, and their stories were passed down to help us learn how to use our knowledge to support ourselves. It is through the medium of Native Hawaiian curriculum that we will help to change mindsets and help many Native Hawaiians to overcome the psychological, social, and monetary struggles of commercializing our cultural history and knowledge.

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PARTICIPANTS IN THE FINANCIAL LITERACY WORKSHOPS WILL:

Gain an understanding of basic principles of personal finance, including goal setting, income, expenses, budgeting, savings, investing, debt, and credit.

Develop a mindset of stewardship and responsibility regarding personal finances and community contribution.

Identify strategies for debt reduction, income creation, and building personal credit.

Obtain a foundation of understanding necessary for further study of business financial management, business credit, and business creation in Entrepreneurial Workshops.

Lesson content for Financial Literacy was constructed with Native Hawaiian communities in mind, and aims to strengthen cultural identity and cultural connection.

CURRICULUM SUMMARY:

In Hawai’i, farming kalo is a prime example of sustainability and provision, skill and accomplishment. Not only was kalo used to fulfill needs for the family, but also used as currency to barter for other needed materials. Using concepts of lo’i kalo, traditional Hawaiian taro farming, as a backdrop for financial literacy instruction, the Native Hawaiian Practice as a Profession prepares cultural practitioners to first understand money, its uses and impacts through a cultural lens.

In Financial Literacy, participants analyze their personal finances in a visual manner, set a financial course through goal setting, create an action plan to eliminate debt, strengthen their personal credit profile, and seek to create multiple streams of revenue. The series comprises 5 workshops with each workshop structured to allow additional families to join the series at any point during the series duration. There is a strong emphasis on shaping one’s mindset in this series, and participants are prepared and encouraged to utilize available coaching. During coaching sessions, participants and coaches discuss personal financial goals, current challenges, and together develop a plan of achievement.

The Spending Plan

Objectives:

  • Understand that financial well-being is a kanaka value. 
  • Learn the concept of Financial Loʻi
  • Understand the difference between fixed and variable expenses. 

Outcomes:

  • Set Financial Goals with a clear pathway to achieve goals.
  • Establishing a spending plan (budget).
  • Identify income and debt
  • Track expenses.
  • Identify spending habits and behaviors

Credit

Objectives:

  • Understand how Hawaiian values tie into managing our finances. 
  • Understand the power of credit, and why it matters.
  • Learn the concept: Spend, Save, and Grow.
  • Understand the factors that determine your credit score.
  • Learn about how your credit score is allocated.
  • Understand credit score ranges.
  • Learn strategies to increase your credit score

Outcomes:

  • Identify your current credit score.
  • Learn how to read a credit report.
  • Increase credit score one tier by 90 days. 
  • Implement strategies to increase your credit score. 

Debt

Objectives:

  • Learn about the good and bad qualities of debt.
  • Understand the snowball method of debt management.

Outcomes:

  • Identify all debt
  • Create a plan to pay down/off the debt. 
  • Eliminate unnecessary expenses. 

Income Creation:

Objectives:

  • Deconditioning our manaʻo when we thinking about currency (time, energy, and money). 
  • Understand the power of the compound effect/duplication.
  • Explore pricing strategies.
  • Learn how to grow your resources.
  • Learn how to legally operate a business in Hawaiʻi. 

Outcomes:

  • Identify passions, and skills that can potentially generate income
  • Establish income creation goals. 
  • Identify how much additional income is needed/wanted.
  • Create a pathway to increase income.

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