Fintech - 60 Minutes Videos. The Future of Money. The following is a script from "The Future of Money" which aired on Nov. 22, 2015.
Lesley Stahl is the correspondent. Shachar Bar-On and Alexandra Poolos, producers. Tech giants like Google, Facebook, and PayPal are all steadily rolling out new-fangled services to turn our smartphones into digital wallets -- replacing cash and checks. And it's been reported that Apple is working on a new payment option to let iPhone users send money directly to one another -- as easily as a text message.
If this all seems cutting edge, you may be surprised to learn there's one country that adopted mobile money years ago: Kenya. At a bus station in Nairobi, buses were not only loaded with humans and cargo, but with cash. Bob Collymore: You give the cash to the bus driver, and then you say, "When you get up to the village in Kakamega -- you will see someone at the crossroads. Bob Collymore, the CEO of Kenya's largest cell phone provider, Safaricom, says his company sought to solve the problem. Daniel: OK.
Jump$tart. Resources and Downloads for Financial Literacy. Learn About the Benefits of Teaching Financial Literacy What Is Financial Literacy?
: Learn what it takes to become financially literate, why this set of knowledge and skills so critical, and what this means for schools. (Edutopia, 2015) The Value of Financial Literacy: Take a look at this infographic for more information about what the research tell us about teaching finance to students. (Edutopia, 2012) Entrepreneurship Education Stresses Learning by Doing: Discover how entrepreneurship education can engage students’ critical thinking skills and deepen their financial literacy. You may also want to check out some of Edutopia’s resources and downloads related to entrepreneurship education. Money as You Learn - Tools for Educators to Integrate Personal Finance into Teaching the Common Core.
3 Ways to Engage High Schoolers in Personal Finance. It’s a lesson that everyone needs to learn: how to manage money.
Yet until recently, most states did not require any financial literacy education. But in the wake of a turbulent economy and a student debt crisis, some states have changed the status quo. Four states require students to complete a one-semester course devoted to personal finance in high school, according to the Jump$tart Coalition for Personal Financial Literacy, and several have legislation for similar requirements in the works.
[Read about the best money saving tips for students.] Julie Felshaw, an economics and financial literacy specialist with the Utah State Office of Education, says that financial literacy education is important because as students graduate from high school, they are stepping into adult roles with adult responsibilities. "The decisions they make early on are going to affect their financial well-being as adults," says Felshaw. [Check out the best ways teens can learn about personal finance.] 1. 2. 3. Financial literacy education has lasting impact. The effects of financial literacy education in high school continue to influence attitudes and behaviors toward money management for students well after graduation, according to newly released study.
The study of 65,000 college students was given exclusively to USA TODAY by EverFi and Higher One, organizations that help implement financial literacy programs. First-year college students required to take a financial literacy course in high school are significantly more likely than their peers who didn't take class to be financially responsible, the study found. Just 17 states require a course. Students who took a class did better on the survey's financial knowledge questions, were found to be more averse to debt, more likely to pay credit card bills on time, and less likely to go over their credit limit. The study, which is in its second year, is the first comprehensive analysis of the impact of high school financial literacy education on not only knowledge but attitudes and behaviors.
Developing Good Credit Habits. Key Concepts Credit, Goods, Income, Interest Rate, Interest, Services, Credit Card Goods and Services: Some are Private, Some are Not The role of government is to provide for the common defense, define and protect property rights, and enforce contractual arrangements.
Throughout the 20th and early 21st century, government has increased its role in economic life. The role of government has expanded to address so-called market fa... Grades 3-5, 6-8. NEFE High School Financial Planning Program. Take Charge Today. FinEdChat.