PROMOTING ECONOMIC AND FINANCIAL EDUCATION IN MISSOURI SCHOOLS

Missouri Council on Economic Education

About MCEE

About You

What is your personal story?

Why are you passionate about economic and financial education?

Why are we talking to parents?Students are in the best position to succeed when their school

learning is supported at homePersonal finance is personal: the classroom curriculum will

inevitably cause students to ask parents about their household finances

Good opportunity for parents to “refresh” their understanding of topics ranging from insurance to compound interest

The Bank of America Foundation provided funding to MCEE for a teacher and parent financial literacy project

Why is Personal Financial Education Important?

Making informed decisions in the competitive marketplace

Problem solving and decision making skills Scarcity, limited resources

Helps improve math and reading skillsAbility to weigh alternatives and select choice based on

personal values and goals

What is Financial Fitness for Life?Curriculum materials that teach personal finance and economics: K-2,

3-5, 6-8, and 9-12Lessons focus on:

Earning an Income Spending Saving and Investing Using Credit Managing Money

Materials were developed by the Council for Economic Education with funding from Bank of America

What are the Goals of Financial Fitness for Life?

To develop decision-making skills of students so that they can make informed decisions as students and consumers: Develop an economic way of thinking Apply economic concepts to financial decision making Develop financial knowledge in the areas of earning an income,

spending, saving and investing, using credit, managing money, and using that information to make decisions

Apply mathematical and language arts skills to personal financial decisions

Examples of content coveredAmount of education affects incomeTypes of credit – interest of loans is based on amount of

loan and credit scoreInsurance is a way to manage risksKeeping track of your expenses is a good way to get most

out of your resources.

Activities for FamiliesThe activity books include worksheet activities and other

ideas for parent/student discussionsExample of activities that teach the concept behind

compound interest: The Chessboard of Financial Life (pp 66-67)

Stretching (p. 88): “$2,000 Computer! $0 down! 0% a month! For Six Months: Parents will be figuring interest and doing various other calculations to determine whether a computer is really a good deal.

Suggested activities in bookLesson #15: Methods of calculating credit card

interest.

Question and Answer SessionAfter fielding questions, provide MCEE website (

www.moeconomics.org) and your contact information if anyone would like to work together in the future.