PERSONAL FINANCE LITERACY WORKSHOP

LEWISVILLE ISDAugust 2, 2011

Mrs. Sally AdamsonTexas Council for Economic Education

PERSONAL FINANCE LITERACY AGENDA:Registration formsIntroductionsPre-test on Financial Literacy2011-12 Texas TEKS on PFLResources availablePowerPoint – videos, lesson demonstrations & activitiesPost-test & TCEE OpportunititesReflections & Dismissal

PERSONAL FINANCE LITERACY Texas Revised TEKS for Social Studies will be

implemented in 2011-12 school year.PFL was first passed as a legal requirement for

high school about 5 years ago; now it is part of the Free Enterprise TEKS required for graduation.

In June, 2011, the Texas Legislature passed a new law requiring that PFL be included in all math classes from K – grade 8.

PERSONAL FINANCE LITERACY Resources available for PFL include:Virtual Economics V4 CD (Council

for Economic Education – formerly NCEE)

Hands On Banking CD (Wells Fargo)Financing Your Future CD (Citigroup

Foundation & NCEE)

Why is K-12 financial education so important?The lack of financial literacy is a national problem.

Research suggests that learning about personal finance at an early age is the key.

Citizens need the knowledge to be able to make well-informed, sound public policy decisions.

Why is K-12 financial education so important

Americans have approximately $1 trillion in revolving credit card debt.

- half make the minimum monthly payment.

Nationally, those under 25 are the fastest-growing age group filing for personal bankruptcy.

Financing Your Future

Personal Finance Video Series on DVDDeveloped by NCEE Funded by the Citigroup

Foundation

Financing Your FutureAimed primarily at High School Students

Helps students develop sound financial life skills

Illustrates how sound choices canBuild financial success and Lead to a more satisfying life

Financing Your FutureAimed primarily at High School Students

Helps students develop sound financial life skills

Illustrates how sound choices canBuild financial success and Lead to a more satisfying life

Financing Your FutureThe Teacher’s Guide includes

15 lessons – 3 for each of the 5 videosTables of Correlation with

NCEE Economics StandardsJump$tart Personal Finance Standards, National Council of Teachers of

Mathematics StandardsA glossary of termsPre- & post-test questions for classroom use

Financing Your FutureThe first lesson for each video includes a short

true/false and a short activity

The remaining two lessons feature role plays and group work to develop content introduced in the videos

Lessons are in PDF format on the CD

Financing Your Future

Video # 1 – “Get a Financial Life”Introduces basic vocabulary & key

concepts such as wealth building, savings and an important rule- “spend less than you earn”.

Watch videoDo activities from Part 1

Financial Fitness for Life Produced by the Council on Economic

Education in partnership with Bank of America Charitable Foundation

The Second Edition came out in 2011, after more than 10 years of success with the First Edition

CEE’s mission is to prepare people worldwide to make informed and responsible choices as consumers, savers, investors, workers, citizens and participants in our global economy.

Financial Fitness for Life CEE’s sixth Survey of the States 2009

shows that - The number of states requiring students to

take a personal finance course has risen from 1 in 1998 to 13 in 2009.

44 states have content standards that include personal finance education – an increase from 21 in 1998.

Financial Fitness for Life Teacher resources may be found at the

companion website – http://fffl.councilforeconed.org/9-12Student workbooks & Teacher’s Guide

books are available in hard copyComplete workbooks are also available

on Virtual Economics V4 CD

Financial Fitness for Life Theme 1: The Economic Way of ThinkingTheme 2: Earning IncomeTheme 3: Money ManagementTheme 4: Spending and CreditTheme 5: Savings and InvestingFormat -

All content is introduced in a concise manner in both books

The majority of learning is through activities

Financial Fitness for Life Work through Theme 3 – Money

Management activities

Financing Your FutureVideo #4 – “Get the Credit You Deserve”“This video aims to demystify credit and debt,

showing that smart credit decision-making can enable one to live a more fulfilling life. Key concepts such as calculating APR and understanding credit scores are discussed in detail.”

Watch videoDo activities from Part 4 & “Scams & Schemes”

from FFFL

Hands On BankingDeveloped by Wells Fargo as a free public

serviceFocused on “Money Skills for Life” CD is interactive and allows users to choose

content directed to their audience – Kids, Teens, Young Adults or Adults

CD comes in English and SpanishAlso available online at

www.handsonbanking.org

Hands On BankingYoung Adults program deals with how to:

Use credit responsiblyManage your own spending planAfford higher educationSearch for a job Learn the steps to become financially

independent

Hands On Banking

Walk through CD section on Banking

Topic 1 – Basics of Banking Services – discuss selected activities

Handouts were printed from the Teacher Resources on the website

PERSONAL FINANCE LITERACY WORKSHOPTake Post-test TCEE Request Form - for teaching PFL,

using pre & post tests & submitting data to TCEE for research that will support grants for future educational resources ($50 stipend)

TCEE Opportunities – online contests:Personal Finance Challenge Economic Challenge $100 drawing for teachers who participate

PERSONAL FINANCE LITERACY WORKSHOPReflections –

Why should we teach PFL?Why is this important – to you? Have you benefitted from this

workshop?Are you more confident that you can

implement successful PFL lessons with the resources you are receiving today?

Other thoughts & comments.

PERSONAL FINANCE LITERACY WORKSHOP

THANK YOU FOR ATTENDING AND PARTICIPATING IN THIS WORKSHOP!ENJOY THE REST OF YOUR SUMMER!