PERSONAL FINANCE LITERACY WORKSHOP LEWISVILLE ISD August 2, 2011 Mrs. Sally Adamson Texas Council for Economic Education

PERSONAL FINANCE LITERACY AGENDA: Registration forms Introductions Pre-test on Financial Literacy Texas TEKS on PFL Resources available PowerPoint – videos, lesson demonstrations & activities Post-test & TCEE Opportunitites Reflections & Dismissal

PERSONAL FINANCE LITERACY Texas Revised TEKS for Social Studies will be implemented in 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 DVD Developed by NCEE Developed by NCEE Funded by the Citigroup Foundation Funded by the Citigroup Foundation

Financing Your Future Aimed primarily at High School Students Helps students develop sound financial life skills Illustrates how sound choices can Build financial success and Lead to a more satisfying life

Financing Your Future Aimed primarily at High School Students Helps students develop sound financial life skills Illustrates how sound choices can Build financial success and Lead to a more satisfying life

Financing Your Future The Teacher’s Guide includes 15 lessons – 3 for each of the 5 videos Tables of Correlation with NCEE Economics Standards Jump$tart Personal Finance Standards, National Council of Teachers of Mathematics Standards A glossary of terms Pre- & post-test questions for classroom use

Financing Your Future The 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 video Do 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 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 – Student workbooks & Teacher’s Guide books are available in hard copy Complete workbooks are also available on Virtual Economics V4 CD

Financial Fitness for Life Theme 1: The Economic Way of Thinking Theme 2: Earning Income Theme 3: Money Management Theme 4: Spending and Credit Theme 5: Savings and Investing Format - 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 Future Video #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 video Do activities from Part 4 & “Scams & Schemes” from FFFL

Hands On Banking Developed by Wells Fargo as a free public service Focused 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 Spanish Also available online at

Hands On Banking Young Adults program deals with how to: Use credit responsibly Manage your own spending plan Afford higher education Search 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 WORKSHOP Take 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 WORKSHOP Reflections – 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!