5Why Teach Personal Financial Literacy? “Financial literacy is essential…to the economic health of our nation…Ensuring that young people have the skills they need to make wise financial choices… will help us build a stronger…future…We also know that a lack of financial literacy is a major roadblock on the path of college access and success for too many students.”(Treasury Secretary Tim Geithner, September 2010.)What does this mean for your students?Why teach personal financial literacy? The last few years have really put personal financial literacy in the spotlight. The economy took a serious dip. Jobs became scarce. Foreclosures are at an all-time high. Credit is harder than ever to get. Many people are “upside down” in their debt, meaning they owe more each month than they bring home.This quote is from the Treasury press release on September 13, It addresses the very important idea that, along with reading, writing, math, science, and social studies, schools need to teach financial literacy. What does this mean for your students?
6Teenage SpendingThe average teenager spends approximately $5,400 each year (National Endowment for Financial Education).Collectively, teenagers spend more than $172 billion annually – that’s billion!Today’s high school graduate will earn over $1 million in adulthood.Let’s take a closer look at teenage spending and see if our young people have the skills they need to make wise financial decisions.
7When students go out on their own… Health InsuranceGet CreditworthyBudget OnlineInvestLive Smallcarlow salaryhigh rentclothesfurnitureWhen you’re young, out on your own for the first time, it’s tough. Here’s why: starter jobs come with low salaries, and increasingly without health insurance, rents are high, and they have to deal with a lot of hidden expenses: deadbeat roommates, weddings, travel, safety deposits, and needing everything from furniture to clothing, to a car all at the same time.So, we are going to talk about some of the most important things that young people need to know to get started on the right foot.wedding
8Should Your Teen Have a Credit Card? 1. If you put $1,000 on a credit card and only pay the minimum (2.5 percent) each month at a 21% interest rate, how long will it take you to pay it off?a. Five months b. Three years c. 16 years2. If you put $1,000 on a credit card and only pay the minimum (2.5 percent) each month at a 21% interest rate, how much will you have paid in interest alone?a. $432 b. $1,000 c. $1,6943. If you are late on a credit card payment, go over your credit limit or miss a payment, which of these are possible?a. You will not be able to rent an apartment. b. You will not get hired for a job. c. You will not be able to get a cell phone or a student loan. d. All of the aboveSuze Orman1. If you put $1,000 on a credit card and only pay the minimum (2.5 percent) each month at a 21 percent interest rate, how long will it take you to pay it off?a. Five months b. Three years c. 16 years * 2. If you put $1,000 on a credit card and only pay the minimum (2.5 percent) each month at a 21 percent interest rate, how much will you have paid in interest alone?a. $432 b. $1,000 c. $1,694 * 3. If you are late on a credit card payment, go over your credit limit or miss a payment, which of these are possible?a. You will not be able to rent an apartment. b. You will not get hired for a job. c. You will not be able to get a cell phone or a student loan. d. All of the above *
9Topics that need to be covered with our teens… Saving and Investing-How to research, buy, and sell investmentsRisk Management-Decision-Making skillsSpending and Credit-Buying wisely, pitfalls of credit, overspendingUnderstanding Income-Career planning, income sources, taxes, inflation, etc.Money Management-Personal financial planning, budgeting, checking accounts, and insurance
102009 Survey… Council for Economic Education - December 3, 2009 Here is a closer look at finance education in our nation’s schools.This is a Survey of the States 2009: Economic and Personal Finance Education in Our Nation's SchoolsNote the number of states with content standards for finance education -only 21 states had content standards in place in 1998…take a look at the jump in 2009, now 44 states have content standards established for finance education!!!!Council for Economic Education - December 3, 2009
11Personal Finance Course Graduation Requirement ArkansasGeorgiaIdahoIllinoisLouisianaMarylandNew JerseyNew YorkOklahomaSouth DakotaTennesseeUtahVirginiaThese are the states that have made personal finance a graduation requirement….New Mexico and Mississippi also are required to offer Personal FinanceNew Mexico and Mississippi –required to offer Personal Finance
14Personal Financial Literacy Standards Jump$tart Coalition Standards for Personal Financial LiteracyCORE COMPETENCIES:Financial Responsibility and Decision MakingIncome and CareersPlanning and Money ManagementCredit and DebtRisk Management and InsuranceSaving and InvestingThe Jump$start Coalition, a national consortium of corporate, non-profit, education, and government organizations dedicated to financial literacy, has put together its list of National Personal Financial Literacy Standards. Here are the core competencies.The U.S. Department of Ed is using these standards to drive financial literacy standards.
15What topics should Personal Finance Curriculum cover? Income/Career PlanningFinancial Decisions and PlanningBankingCreditSavingInvestingTaxesThis brings us to our next point of discussion—what topics should good personal finance education curriculum cover. No matter what the content standards of a given state are, these major topics have to be covered in a Personal Financial Literacy Course.
16Grade Levels, Students, Course Length General Curriculum: 9th or 10th gradeBusiness Elective: depends on districtStudentsBasic Levels: 9th or 10th graders; are not necessarily ready to pursue business as a majorAdvanced Levels: 11th or 12th grade; may have already decided to pursue a business degreeCourse LengthSemester-longYear-longThis is how the typical student/grade level breakdown looks for financial literacy courses.If the course is part of the graduation requirement within the general curriculum, meaning that it is taught as part of the Social Studies or Life Sciences curriculum, it is generally taught in either 9th or 10th grade.If it is a business elective course, not necessary for graduation, the grade level of students will depend on the district. As a basic finance course, it will probably be taught in 9th or 10th grade. As a more advanced course, it would be taught in 11th or 12th grade. There may even be cases in which two business elective finance courses are offered, a basic and an advanced course.Depending on district needs and state standards, your course may be a semester-long or a year-long one.
17Managing Your Personal Finances, 6e Our best-selling finance titleFull year comprehensive approach11th & 12th grades – for higher level business courseGreat for future business or finance majorsIn-depth exploration of finance topics from a business perspectiveCovers personal finance and life-long financial planningMost often used for business elective coursesThis is Managing Your Personal Finances. It is our best-selling finance book. It is a comprehensive text with over 700 pages of instruction. It is meant for a higher-level course and fits best within the 11th and 12th grade business elective slot. This is for your future business majors, students who already know that they want a career in accounting, finance, business management, etc.This book provides a business focus on personal financial planning, so if we think back on the differences between business focus and personal focus, this book is for students who are interested in how businesses manage finances. It also provides deep information on life-long financial planning, everything from banking and consumer purchases to serious coverage of saving, investing, building wealth, and estate planning.As you can tell, this book is intended to be used in the Business Education department; it is not meant for general curriculum courses.
18Economic Education for Consumers, 4e Full year comprehensive approachSuitable for 9th & 10th grades – intended for lower level business courseProvides broad coverage of personal finance topicsCovers consumer spending and wise purchasingProvides a business and personal focus for finance topicsCan be used as part of general curriculum, but is intended for a business elective classAnother great option for a finance course is Economic Education for Consumers.This text is also a full-year approach. However, this is meant for students in the 9th or 10th grade, who are not necessarily planning to become business majors. It is a much less dense text, intended for most students. If Managing Your Personal Finances offers a very deep understanding of finance, Economic Education for Consumers offers a broad one. It covers a large number of personal finance topics and provides excellent instruction without the expectation of future MBAs.There is quite a bit of coverage of consumer spending and purchasing topics, as well as all the other finance topics, so this book is perfect for a course where both the personal and the business focus is needed.Because of this, Economic Education for Consumers is the perfect book for either a business elective course or a general curriculum course.
19Personal Financial Literacy, 2e Suitable for one semesterIntended for 9th and 10th grade studentsMeets the needs of Financial Literacy as a graduation requirementIntended for general curriculumUses a personal focus on financial informationOffers information on personal income, money management, spending, credit, and savingFinally, this is our newest personal finance text. It is completely unique because it was written specifically to meet the needs of a personal finance course that is part of the general graduation requirement.This is a one-semester course, intended for 9th or 10th grade students. There is no expectation of future business studies for these students. However, this book does an excellent job of preparing students for making smart decisions about money and developing good financial habits for life!Of course, this book uses a personal focus to teach everything from getting a job, career choices and income, spending, saving, building and using credit, investing, etc. The idea is to help students develop life-long understanding and comfort with financial decisions, really helping them understand the consequences of decision-making when it comes to their finances, for right now and for the future.
20Text Title Course Length Grade Levels Covers Managing Your Personal FinancesRyan, 6eFull year11 and 12Personal financeDeep coverage of finance topicsLife-long financial planningIntended as Business electiveHigh achieving studentsEconomic Education for ConsumersMiller and Stanford, 4e9 and 10Consumer spendingBroader coverage of finance topicsWise purchasingMoney managementLower achieving studentsPopular with Family and Consumer Science teachersPersonal Financial LiteracyRyan, 2eOnesemesterMeets general ed. requirementBroad coverage of finance topicsPersonal focusIncome, money management, spending and credit, savingHere’s an example of how some of our Personal Finance Texts are broken down by grade level and course length. These three texts align to the Jump Start coalitions standards in Personal Financial Literacy. The one we will be focusing on today is the third one that you see on my screen. Personal Financial Literacy. This text meets the general education requirement for personal finance.
21Online Resources NEFE www.nefe.org NAF www.naf.org CEE www.ncee.net National Endowment for Financial EducationNAFNational Academy Foundations (of Finance)CEECouncil for Economic Education (national)NBEANational Business Education Association
22Many other online resources… Foundation for Financial Literacy
23Using Free ResourcesWho created the resource? What education credentials do they have?What is the main purpose of these websites?Is the content based on curriculum standards? Will it help you meet these for your state? Is there a scope and sequence?Will you have to create your own materials to teach this content? Do you have time to do this?We have just spent almost an hour talking about the importance of financial literacy, the fact that it’s information and skills that your students desperately need in order to succeed. But the reality is that many of you are facing budget crises and you are expected to gather your instructional materials from “free sources.” As I already said, I understand. However, before you do, please ask yourselves and your administration these questions.
24Using Free ResourcesIs there any training or professional development available with this content?How will you assess students using the free resource?How will your students practice and apply this content?How will your students connect this content with other academic subjects (integrated curriculum)?After thinking about all of these questions, you may still decide to use some free online resources to supplement your finance instruction. However, I hope that you can really see the benefits of having instructionally sound textbooks written by experts especially for high school students, correlated to your state standards, written to teach, rather than to sell something, which provide all the assessment and support you and your students need.Ultimately, this may be a case of “you get what you pay for.”
25Managing Your Personal Finances, 6e Instructional Resources Annotated Instructor’s EditionStudent Activity GuideStudent Printed TestsEbookExamView® CDInstructor’s Resource CDlesson plans/outlinesinstructor’s resource manualteaching toolsPowerPoint™ presentationsSpanish GlossaryInstructor’s Edition of Printed TestsInstructor’s Edition of Student Activity GuideIf your school adopts one of our personal finance texts, you will have a complete instructional plan, with every tool you could possibly need to teach, check, review, practice, assess, and make sure your students “got it.” With a class set of student editions, here are some of the resources available to you.
26Economic Education for Consumers, 4e Instructional Resources Instructor’s Wraparound EditionInstructor’s Resource CDStudent WorkbookExamView ®EbookInstructor’s Resource KitInstructor’s Edition WorkbookTeaching Economics BookReteach and Enrich Activity MastersBusiness Math, Communications, and Ethics Activity MastersAlternative AssessmentSpanish ResourcesLearning StylesUsing Technology
28Where do we start? Personal experience - use as catalyst Standards and CompetenciesNBEAStateLocal DistrictJump$tartCross-curricular applicationsLocal parental and business partnershipsGuest SpeakersWeb resourcesArticles
29Take a closer look at our Texts for Personal Finance
31Overview Informs students of their various financial responsibilities Chapters that not only inform but increase self-awareness and career readinessWritten specifically for high school studentsNew ways to maximize earning potentialStrategies to manage resourcesSkills for the wise use of credit and investing moneyFocuses on career readiness, self-awareness, and personal finances
32Features Alignment with National Programs Jump$tart CoalitionNational Academy FoundationNBEA standards for Personal FinanceStudents become active participants in the business world asCitizensStudentsFamily membersConsumersReinforcement and extension in every chapter:Planning a Career inMath MinuteNet NotesUnit ProjectsLife Span Plan ProjectLSP project that is integrated throughout the text and at the end of the books the students will have a life plan.National Standards: Aligned with the Jump$tart Coalition for Personal Financial Literacy's National Standards as well as National Business Education Association standards for Personal Finance.
33FeaturesGoals at the beginning of each lesson clearly state the learning objectivesKey Terms within the Lesson are identified with page referencesGlobal View features show international connections relevant to personal finance
34FeaturesCommunication Connection offers speaking and writing activities related to the chapter content.Math Minute offers a review and practice in basic math skills linked to the chapter topics.View Points provide opportunities for students to think critically about issues that have no clear-cut answers.Real-World Connections: An abundance of real-life examples makes the information more relevant and interesting for students.
35FeaturesIssues in Your World enriches students’ knowledge by acquainting them with the real-world issues.Planning a Career in… provides robust career information related to the chapter topic and it incorporates the Career Clusters.
36FeaturesLesson and Chapter Assessments give students the opportunity to tie their learning together and dig deeper into the issues.Key Terms ReviewCheck Your UnderstandingApply Your KnowledgeThink CriticallyChapter SummaryApply What You KnowMake Academic ConnectionsSolve Problems and Explore IssuesExtend Your Learning
37FeaturesEnd-of-Unit Cases profile real people and describe how they applied the skills presented in this text to their own lives.End-of-Unit Projects give students hands-on practice applying and extending what they have learned in each Unit.
38Instructor Resources Annotated Instructor’s Edition Printed Tests Instructor's Resource CDIMPACT CD-ROMLesson plans and outlinesAnimated graphs and figures illustrate key conceptsInstructor’s resource manualTeaching toolsDefinition of terms are reinforcedPowerPoint presentationsSpanish GlossaryHot Links to relevant websitesInstructor’s Edition of printed testsForms to complete and send via to instructorInstructor’s Edition of Student Activity GuideInstructor Companion WebsiteExamViewExamView® ISBN-10: | ISBN-13:Impact CD-ROM ISBN-10: | ISBN-13:Instructor's Resource CD-ROM (Hybrid) ISBN-10: X | ISBN-13:Student Activity Guide ISBN-10: X | ISBN-13:Contains study guide problems and activities for each chapter. Examples are vocabulary, fill in the blank, true/false, multiple choice, and problem solving questions.Tests ISBN-10: | ISBN-13:
40Personal Financial Literacy, 2e Author: Joan RyanCopyright 2010Pub Date: January 2011ISBN:Finally, this is our newest personal finance text. It is completely unique because it was written specifically to meet the needs of a personal finance course that is part of the general graduation requirement.
41Personal Financial Literacy, 2e Three to KnowOne-semester courseFulfills financial literacy graduation requirementPerfect for all 9th and 10th grade students3 most important things to know…One-semester courseFulfills financial literacy graduation requirementPerfect for all 9th and 10th grade students
423-4 lessons per chapter that cover financial literacy standards 12 ChaptersCh. 1: How Your Choices Affect IncomeCh. 2: Income, Benefits, & TaxesCh. 3: Your Purchasing PowerCh. 4: Financial Decisions & PlanningCh. 5: The Banking SystemCh. 6: Personal Risk ManagementCh 7: Buying DecisionsCh 8: Preserving Your CreditCh 9: Credit Problems and LawsCh 10: Basics of Saving & InvestingCh 11: Saving & Investing OptionsCh 12: Buying & Selling Investments3-4 lessons per chapter that coverfinancial literacy standardsThis book is broken into 12 chapters with 3-4 lessons per chapter that cover financial literacy standards
43NEW Concepts covered in this edition Job search skills/online job applicationsInterviewing techniquesPreparing resumes and cover lettersBenefits/challenges of entrepreneurshipConsumer rights and responsibilities in marketplaceCharitable giving/philanthropyHealth care providers, services, fraudSimple/compound interestSome new concepts covered in this edition include…Job search skills/online job applicationsInterviewing techniquesPreparing resumes and cover lettersBenefits/challenges of entrepreneurshipConsumer rights and responsibilities in marketplaceCharitable giving/philanthropyHealth care providers, services, fraudSimple/compound interest
44New to This EditionAll features now include a question or activity for applicationSharpen Your 21st Century Entrepreneurial Skills feature incorporates the framework for 21st Century LearningExploring Careers has a new focus to link content more closely to the 16 career clustersNet Bookmark — a short feature that provides chapter-related activities for online researchTake Action — an course-long project provides opportunity to synthesize conceptsIn addition to, all features now include a question or activity for application.Sharpen Your 21st Century Entrepreneurial Skills feature incorporates the framework for 21st Century LearningExploring Careers has a new focus to link content more closely to the 16 career clustersNet Bookmark — a short feature that provides chapter-related activities for online researchTake Action — an course-long project provides opportunity to synthesize concepts
45FeaturesBuilding Communication Skills feature focuses on crucial soft skills that are necessary in today’s competitive environment.(listening, reading, speaking, writing)Let’s take a closer look at the features… theBuilding Communication Skills feature focuses on crucial soft skills that are necessary in today’s competitive environment.(listening, reading, speaking, writing
46FeaturesFocus On…feature highlights specific topics related to chapter content and supports students’ participation in student organizations.Focus On…feature highlights specific topics related to chapter content and supports students’ participation in student organizations
47FeaturesSuccess Skills … feature provides information to help students be successful in school, work and personal activities.Success Skills … feature provides information to help students be successful in school, work and personal activities.
48Net Bookmark Feature provides opportunities for students to use the most current, relevant information through online researchNet BookmarkFeature provides opportunities for students to use the most current, relevant information through online research
49FeaturesExploring Careers in….feature presents specific information about careers in the areas identified by the US Dept. of Education as the 16 Career ClustersExploring Careers in….feature presents specific information about careers in the areas identified by the US Dept. of Education as the 16 Career Clusters
50FeatureTake Action feature provides students with an opportunity to synthesize the concepts by participating in an ongoing project throughout the chapter.Take Action feature provides students with an opportunity to synthesize the concepts by participating in an ongoing project throughout the chapter.
51End of Lesson Assessment Key terms review helps students understand and apply key lesson terminologyCheck your understanding ensures student comprehension
52End of Chapter Assessment Summary provides and concise wrap-up of chapter topics.Making Academic Connection relates chapter concepts to the “four core” curriculum areas
53Personal Financial Literacy, 2e Instructional Resources Annotated Instructor’s EditionStudent WorkbookEbookExamView® Test GeneratorInstructor’s Resource CDSpanish ResourcesSpanish GlossaryGuided Practice CD(workbook activities in Spanish and teachers can just print them off the CD)This text has a very robust resource package!Annotated Instructor’s Edition: easily at point of use for the teacherStudent Workbook: review of chapter terms, building communication and math activities, career component.Ebook:ExamVIew: test generation software to enhance your assessment and save you time planning!!!!!IRCD: instructor’s resource cd contains customizable powerpoints, solution files, data files, etc.Spanish Resources: spanish glossary in back of book and a GUIDED PRACTICE CD. Guided Practice CD contains workbook activities in spanish and teachers can just print them off the CD and assign to their ELL learners. This is huge for differentiating instruction!!!!!!
54Free Companion Website This is what the free companion website looks like. All of the items on the left scroll down menu that are padlocked are instructor resourcesThe non-padlocked items are student resources.Notice that your teacher resources include solutions to the net bookmark activities, customizable powerpoint presentations, software solutions, supplemental activity solutions, and data files.
55Just a few items that you will find on that companion website including flash based student review games for each chapter, interactive flashcards, a full glosssary that the student can print out to review terms, web activities and more supplemental activities to further incorporate reading and writing across the curriculum.
58Bring Economics to life! Focus on consumer spending and making wise purchasing decisionsBright, new designUpdated information on important changes in technology, banking, and taxesContent aligned with Jump$tart coalition National Standards for Personal Financial LiteracyYear-long course9 & 10th grade – lower levelo
59Valuable and Relevant Content Extensive coverage is given to planning for college, retirement, saving, loans, online shopping, and banking.
60Real-world Applications Life-Span Plan Project Links all aspects of personal finance to the students’ lives!
61Maintain Student Interest Consumer ActionConsumer AlertVote Your WalletMath MoneyNetBookmarkIn Class ActivityConsumer Action – interesting lesson opener that highlights a young person facing a real-world consumer dilemma.Vote Your Wallet – helps students learn about their important political role as a consumerMath Money – activities that provide continuing review and practice of basic math skills used in consumer decisions
68Session Outline Why teach Personal Financial Literacy? Personal Financial Literacy covers what topics?How to teach Personal Financial LiteracyUse of Instructional Materials and Resources
69For live or recorded webinars and training sessions, visit our TeamUP Training & Services website!
70This is your state website. Here you can browse our complete catalog as well as view presentations that have been given in your state. Today, I will be posting our presentation to this state site so that you can reference it as needed.
71Visit our new Personal Financial Literacy Community site!
72Andrea Neff National Sales Consultant Andrea.firstname.lastname@example.org Questions?Andrea NeffNational Sales Consultant