1. Financial Literacy Institute January 2015: Day 1 Presenters: Melissa Groves, Ph.D. mgroves@towson.edu Karen Kokernak, M.B.A. kkokernak@towson.edu

2. Our mission is to assure that Maryland's school children leave high school equipped with the economic, financial literacy and decision-making content and skills they need to make informed, rational decisions as consumers, workers, citizens, savers, investors and participants in the global economy. The Maryland Council on Economic Education

3. How Does MCEE Accomplish Its Mission? Maintaining the MCEE website at www.econed.orgwww.econed.org Sponsoring signature programs Stock Market Game ™ The Poster Contest Assisting with curriculum writing Providing Professional Development for educators

4. Grades 1 MSDE CPD ( plus 1 AU for Baltimore City Teachers) Active participation 20% In-Class Quizzes (2) 20% Online Reading/Assessments 25% Post-Test 20% Technology activities 10% Behavioral Survey 5%

5. Grades 2 MSDE CPD ( plus 1 AU for Baltimore City Teachers) Active participation15% In-Class Quizzes (2)20% Online Readings/Assessments10% Post-Test15% Technology Activities10% Behavioral Survey 5% Additional Online Work/Quizzes(4); (1-2) page Book Suggestion 25%

6. Grading Notes Investing Basics Investment Strategies Investment Risks Saving for College Step 1: Complete 4 Additional Online Modules plus quizzes. (Due on/before 5:00 p.m. March 2 nd, 2015)

7. Grading Notes Submit a written book recommendation that includes: Book Title, Author, Publisher, and ISBN# Identify whether informational or fictional text List Financial Literacy & Economics Standards correlation State suggested grade level(s) use Identify Economics and Personal Finance concepts Explain how you would use the book to teach economic and or personal finance concepts. Contains appropriate format Step 2: Write a 1-2 page Book Recommendation. (Due on/before 5:00 p.m. March 9th, 2015)

8. Grading Notes (Continued) Behavioral Survey Pre-Survey: Completed on Day 1 of the course Post-Survey: Completed in early May Post Survey Assessment will be electronically forwarded No credits issued until the Behavioral Survey is completed and returned Results will remain anonymous

9. Objectives explore the Maryland State Curriculum for Personal Financial Literacy Education review key financial literacy concepts for Grades K-5 link lessons to concepts and standards; including the Common Core During this presentation, we will …

10. How the Institute Works: Ying and Yang Karen Pedagogy Melissa Content

11. Financial Literacy A variety of materials to help you

12. Why Financial Literacy? Develops financial literacy skills that will enable students to make sound choices as consumers Helps to establish good habits and responsible attitudes from an early age

13. What Personal Finance is About A reference guide for Financial Literacy

14. The Maryland State Curriculum for Personal Financial Literacy Education 1.Defines what students should know and be able to do at various points in time 2.Specific grade-level curriculum to be developed by the individual LEAs 3. Implemented: September 2011

15. The Standards 1.Making informed responsible decisions 2.Relate careers, education, and income 3.Plan and Manage Money 4.Managing credit and debt 5.Creating and building wealth 6.Managing risks and preserving wealth

16. Standard 1 Make Informed, Financially Responsible Decisions Making financial choices (includes resources, decision-making process, opportunity cost) Explaining philanthropy Identifying goals Markets

17. Productive Resources NATURAL HUMAN CAPITAL (Think “Product”)

18. Human Resources Workers; The health, strength, talents, education and skills that humans can use to produce goods and services.

19. Natural Resources Gifts of nature that can be used to produce goods and services

20. Capital Resources Tools; the goods that are manufactured or constructed by people and used to produce other goods and services.

21. Decision-Making Process "It's awfully awfully, awful when you can't make up your mind!" Hunches in Bunches by Dr. Seuss PROBLEM: CHOICE #1:CHOICE #2: Pros(+)Cons (-)Pros (+)Cons (-) SOLUTION:

22. Another Option

23. And Yet Another PROBLEMCRITERIA Where do I want to go for dinner tonight? TOTALS CHOICES/OPTIONS/ ALTERNATIVES Put a plus (+) or minus (-) in each box to indicate whether the choice meets (+) or does not meet (-) the criteria.

24. Opportunity Cost The next best choice!

25. For Decision-Making & Opportunity Cost Check Out… Lesson 4Lesson 5

26. Philanthropy A personal interest in helping others, especially through gifts to charity Lesson 15

27. Goods Things that people make or grow that satisfy economic wants; things desired by consumers and supplied by producers.

28. Services Community jobs; Actions(jobs) that people do for each other

29. Goods & Services Lesson #2 Lesson #1

30. Where buyers and sellers exchange resources, goods, and services. Market

31. Mama Panya’s Pancakes: A Village Tale from Kenya Market Goods Services

32. Standard 2 Highlights Relate Careers, Education, and Income Impact of education, interest & skills on income (What Personal Finance is About pgs.6-8) Potential sources of income How income affects spending Lesson #1

33. Isabel’s Car Wash Relationships between education, skills, economic conditions, and income Sources of income Goods Investing

34. Standard 3 Highlights Plan and Manage Money Spending Plans Financial Services Develop Age-Appropriate Financial Goals Taxation Contracts

35. Agreement between two or more people to do or not do something (Add “ legally binding ” when age-appropriate) Behavior Contract Student Name: Vinny Barbarino Room: 222 Vinnie Barbarino will demonstrate good behaviors each day at school. Vinnie is expected to follow the teacher's directions the first time she asks him to do something. He is expected to do so promptly and with a good attitude. Each time that Vinnie does not meet these expectations, he will receive a tally mark for the day on the tracking sheet. These tally marks will determine the rewards and consequences that Vinny receives, as shown below. Zero = A chance to roll the die after school for one of the rewards listed below One = Does not get a chance to roll the die that day Two or more = Loss of recess the next day and/or other consequences as determined by Mr. Kotter Die Rolls: 1 = One table point for his table 2 = One raffle ticket for monthly class drawing 3 = One piece of candy 4 = Gets to be first in line for the next school day 5 = Gets to help teacher after school that afternoon 6 = Five marbles for the class marble jar We agree to the terms of this behavior contract as set forth above. Gabe Kotter Maria Babarino Vinnie Barbarino

36. Drew Plans a Budget Decision-Making Spending Plan Goods/Services

37. Allowance Day Coins in my pocket dance around As I walk about the mall. Today was payday for my chores And I am walking tall. It seems the coins are pleading In their jingly, jangly voice: “ Let ’ s buy a toy! ” “ Let ’ s buy some food! ” How will I make a choice? Drew Plans a Budget

38. “A Plea for a Raise” by John Fitzgerald Francis Kennedy Source: http://usscouts.org/history/jfkletter.asp

39. My recent allowance is 40 cents. This I used for aeroplanes and other playthings of childhood, but now I am a Scout and I put away my childish things. Before I would spend 20 cents of my 40 cents allowance, and in five minutes I wave empty pockets and nothing to gain and 20 cents to lose. When I am a Scout I have to buy canteens, haversacks, blankets, searchlights, a poncho — things that will last for years and I can always use while I can’t use chocolate marshmallow sundae ice cream, and so I put in my plea for a raise of 30 cents for me to buy Scout things and pay my own way around … (1929) “A Plea for a Raise” by John Fitzgerald Francis Kennedy Source: http://blog.scoutingmagazine.org/2013/11/22/remembering- john-f-kennedy-the-first-president-to-have-been-a-boy-scout/http://blog.scoutingmagazine.org/2013/11/22/remembering- john-f-kennedy-the-first-president-to-have-been-a-boy-scout/

40. Financial Products Services offered at financial institutions such as: CDs Money Market Accounts Savings Accounts Loans Mortgages Credit Cards Insurance

41. Be a Wise Consumer Financial Services

42. CD? Piggy Bank? Savings Account? Rachel receives $100 for her high school graduation. She plans to buy a television, but it will cost $200. Rachel figures that, with the money she earns at the her summer job, it will take her 4 months to save enough money for the TV.

43. CD? Piggy Bank? Savings Account? Ari adds up all of the money that he receives for his birthday. Happily he finds that he has a total of $100, which is enough money for the bike that he plans to buy next weekend.

44. CD? Piggy Bank? Savings Account? Every year for her birthday, Lakesha ’ s grandparents give her $100 to save for her future education. She wants to earn as much interest as she can on her money.

45. What Are Taxes? History of taxes Meaning and purpose of taxes How taxes affect individuals Reasons for taxes

46. A Make-n-Take Moment 12 3 4 5

47. Melissa’s Website Information from today’s session is available on Melissa’s website at: http://pages.towson.edu/mgroves/FinLitInstitute.html

48. Info for Online Session Go to: https://university.educatedinvestor.com/university/login.xml?for=MDFLI https://university.educatedinvestor.com/university/login.xml?for=MDFLI (We will email you the link to cut/paste onto your browser.) Username: Your email address Password: finlit

49. Online Session continued… Must complete the following modules and assessments: Getting Started with Saving and Investing Basics of Personal Finance Due: January 30th, 2015 by 5:00 p.m.

50. Next Face-to-Face Session Next Saturday; January 31 st, 2015 8:00 a.m. – 4:30 p.m. Room 310

51. SNOW POLICY If Towson University is closed, the class is rescheduled for Saturday, February 7 th or 21 st, 2015 If Towson University has a late opening, the class has a late opening. You will receive an email from me or a phone call from Melissa or myself verifying the status by 6:45 a.m. Still not sure, call my cell 804-513-7387 (Call AFTER 6:45 a.m.)

52. And now… Please complete … Today’s Evaluation Sheet Quiz #1