Survey of the States by CEE The state of K–12 economic and financial education in the United States. Key FindingsTake ActionInteractive CompanionAbout Survey of the States Key Findings All 50 states and the District of Columbia include economics in the K-12 standards for the first time.While more states are implementing standards in economics, no improvement has been seen in the number of states requiring students to take an economics course as a high school graduation requirement. That number has remained steady at 22 since 2011.Improvement has been seen in the area of personal finance course requirements. Four more states require students to take a personal finance course (or require that personal finance be included in an economics or civics course) as a high school graduation requirement, bringing the total to 17.However, only 6 states require the testing of student knowledge in personal finance, only one more than in 2011.
What is Financial Literacy - Your Life Your Money The President's Advisory Council on Financial Literacy defines personal financial literacy as "the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being." (200 8 Annual Report to the President ) Personal financial literacy is more than just being able to balance a checkbook, compare prices or get a job. It also includes skills like long-term vision and planning for the future, and the discipline to use those skills every day. In the US, we make great efforts to teach children to read and write, but we don't give their financial literacy the same attention.
Raising smart decision-makers SmartBlogs This post is sponsored by the Council for Economic Education. Financial literacy isn’t just teaching kids about money, according to Nan Morrison, president and chief executive officer at the Council for Economic Education. Children need to learn how to make smart decisions in addition to understanding money. SmartBrief talked with Morrison about her organization’s plans and resources for shaping the way kids learn. Question: You’ve said that the “language and tools of economics give our kids the ability to recognize and understand the nature of choice in their lives.”
Financial Literacy Definition The National Financial Educators Council defines financial literacy as: “possessing the skills and knowledge on financial matters to confidently take effective action that best fulfills an individual’s personal, family and global community goals.” Several other national organizations have created their own definition. Listed below are several financial literacy definitions that do vary but also do share commonalities. Dave Ramsey's $15,000 Financial Literacy Challenge Sponsored by Fifth Third Bank More About the Contest April is National Financial Literacy Month, and to celebrate, New York Times best-selling author and nationally syndicated radio talk show host Dave Ramsey is inviting high school students across the country to test their personal finance knowledge by taking the $15,000 Financial Literacy Challenge April 10-24. The contest, sponsored by Fifth Third Bank, is in its third year and has received extraordinary response from both teachers and students. Three lucky seniors will each win a $5,000 scholarship to the college of their choice, and three underclassmen will each win a Google Chromebook. Winners will be announced here on or before May 16!
Money Smart - A Financial Education Program Money Smart is a comprehensive financial education curriculum designed to help low- and moderate-income individuals outside the financial mainstream enhance their financial skills and create positive banking relationships. Money Smart has reached over 2.75 million consumers since 2001. Research shows that the curriculum can positively influence how consumers manage their finances, and these changes are sustainable in the months after the training. Financial education fosters financial stability for individuals, families, and entire communities. Revolution, Responsibility and Football: Teaching Financial Literacy to Middle Schoolers My oldest son is in middle school. He earns an allowance and is always trying out his entrepreneurial skills. What my son and his friends seem to have in common is that they want . . . everything! He's eager to learn about money management because he views it as a means to an end. So my suggestion to you is focusing on teaching middle school kids the concepts that will naturally engage them, because they're meaningful right now.
Institute For Financial Literacy ®National Standards Second Edition Released: October 2007 The National Standards for Adult Financial Literacy Education identify the personal finance knowledge and skills an adult should possess. The Institute for Financial Literacy® contends that all adults who receive financial literacy education should have, at a minimum, the knowledge and ability to competently perform the basic tasks of managing their personal finances. Financial literacy is a lifelong process requiring both academic and practical components. No single textbook or educational program can result in a financially literate adult. Financial literacy textbooks and education programs must be clear and concise, and they may be components of a comprehensive financial literacy curriculum.
Financial Mentoring: Teaching Toward an Affordable Future Social mobility is something that's been written about by countless authors in various cultures, societies, and ages. Traditionally, you weren't able to move from one caste or class to another. It's become a mystical goal in our own society, as well. The ideal that this age-old American Dream can occur if we work hard has long been lost. Consumerism, credit, and direct deposit have taken a lot of that magic away. Let's fix it.
The Uniqueness of Employee Training in the Banking Industry I want to start a series on the blog. being more industry-specific, so I hope over the coming weeks and months to focus on specific professions and various industries, and look at the uniqueness of employee training programs and strategies within each. I hope also to be able to conduct interview with leading learning professionals from each field, and get their insight as well. Let’s start with the banking and financial services industry. Employee training is an important factor in each and every industry, as it helps the workers to stay aligned with the organizational goals. It also serves as an extra layer of security for the financial sector, which has suffered from a major budget reduction within most companies due to the economic recession.
A Mobile App Lesson on Financial Capability Image credit: iStockphoto The goal of this lesson is teaching students how to use their mobile phones for financial management and financial decision-making. The best moment to provide dedicated financial literacy coursework is in the latter grades of high school.