Transcript Why Teach Financial Literacy in the Classroom and How It

Presented by:
Mindy Clark
Business Teacher
Green High School
Why Should We Teach Financial
Literacy?
½ of American’s private sector workforce
have NO formal savings plan
 Between 25 and 56 million Americans
do not have a bank account.
 Only a quarter of Americans feel well
informed about managing household
finances.
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Why is Financial Literacy
Important?
19% of all bankruptcies are filed by
people under age 25
 88% of teens do not like the way it feels
to owe someone money
 29% of teens are already in debt with an
average debt load close to $300.
 Only 34% of teenagers know how to
balance a checkbook

Charles Schwab and Jump$tart
Coalition, 2006
Questions about the Financial
Literacy Requirements
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When are schools required to begin
teaching financial literacy?
At what grade level are schools required to
teach financial literacy?
Who can teach financial literacy?
Are there professional development
opportunities available?
Can a school create a separate course to
teach financial literacy?
Ohio Department of Education
What schools are expected to
teach:
relationship of income level to supply and
demand in the market
 roles of people in the economy
 consequences of choices affecting
budgets, savings, credit, philanthropy
and investments
 the effect of interest rates on savers and
borrowers.

How do we get started?
Start NOW!!!
 Use a simulation game
 Newspapers
 Do NOT overteach!…Have students
explore and learn.
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Resources with Free
(or Almost Free) Materials
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National Endowment for Financial Education®
(NEFE®)
Jump$tart Coalition
FDIC MoneySmart Computer Based Program
Financial Literacy for Teens by Chad Foster
Ohio Department of Education’s website
USA Today Newspaper
Dave Ramsey’s Foundations in Personal
Finance
Fantasy Stock Market Game
National Endowment for
Financial Education® (NEFE®)
Price: Free
Unit Topics
 Your Financial Plan: Where It All Begins
 Budgeting: Making the Most of Your Money
 Investing: Making Money Work for You
 Good Debt, Bad Debt: Using Credit Wisely
 Your Money: Keeping It Safe and Secure
 Insurance: Protecting What You Have
 Your Career: Doing What Matters Most

http://hsfpp.nefe.org/home
Jump$tart Coalition
Price: Free
 Offers the National Financial Literacy
Challenge
 Website is a resource to many other free
resources
 Check out the links under:
RESOURCES
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http://www.jumpstart.org/
FDIC MoneySmart Computer
Based Program
Price: Free
 Helps youth ages 12-20 learn the basics
of handling their money and finances
 Aligned with educational standards
 8 instructor lead modules
 Modules includes a fully scripted
instructor guide, participant guide, and
overhead slides
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http://www.fdic.gov
Financial Literacy for Teens by
Chad Foster
Price: $
 10 day short course or DVD
 Teaches a better understanding of how
to make, manage, protect, and save
money
Topics
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Credit Card Debt, Needs and Wants, Insurance
Essentials, Secrets to Saving, Income Taxes ,
Internet Scams and Multiplying Money
http://www.chadfoster.com
Ohio Department of Education’s
website
Price: Free
 Offers a number of free resources
 Offers Professional Development
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http://www.ode.state.oh.us
USA Today Newspaper
Price: Free
 Online newspaper
 Grant money is available if you would
like to have it delivered to your
classroom.
 Teaches students to enhance reading
skills
 Students can summarize articles on the
economy and financial planning
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http://www.usatoday.com
Dave Ramsey’s Foundations in
Personal Finance
Price: $
 Aligns to the National Standards for
Financial Literacy
 4 units and 12 chapters
 Available as a 5 disc Media Library
 Students follow along using a student
workbook which is available as a PDF
 Elementary version
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http://www.daveramsey.com/school
Fantasy Stock Market Game
Price: Free
 Requires registration on all students
 Private contests for classes
 Allows students to work on their own
and to help them learn from their
mistakes
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http://www.wallstreetsurvivor.com/
Websites for More Information
http://www.yourmoneynowonline.org
 http://www.fefe.arizona.edu
 http://www.practicalmoneyskills.com
 http://www.mymoney.gov
 http://www.uen.org/financial_lit/student/t
een_activities.shtml
 http://www.themint.org
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Other Options:
Financial Services offered through Ohio
Tech Prep
 Classes offered through banks
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More Information
Mrs. Mindy Clark
Green High School
Franklin Furnace, OH
1-740-354-9150
[email protected]