Making it Personal Financial Literacy Andrea Neff National

Making it Personal Financial Literacy Andrea Neff, National Sales Consultant

Session Outline 1. Why teach Personal Financial Literacy? 2. Personal Financial Literacy covers what topics? 3. How to teach Personal Financial Literacy 4. Use of Instructional Materials and Resources

Why 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?

Teenage Spending l The average teenager spends approximately $5, 400 each year (National Endowment for Financial Education). l Collectively, teenagers spend more than $172 billion annually – that’s billion! l Today’s high school graduate will earn over $1 million in adulthood.

When students go out on their own… l Health Insurance l Get Creditworthy l Budget Online l Invest clothes l Live Small e r u t i n r fu g n i d d e w ca y r r a l a s t n w e r o l high

Should 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 years 2. 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, 694 Suze Orman 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

Topics that need to be covered with our teens… l Saving and Investing -How to research, buy, and sell investments l Risk Management -Decision-Making skills l Spending and Credit -Buying wisely, pitfalls of credit, overspending l Understanding Income -Career planning, income sources, taxes, inflation, etc. l Money Management -Personal financial planning, budgeting, checking accounts, and insurance

2009 Survey… Council for Economic Education - December 3, 2009

Personal Finance Course Graduation Requirement l Arkansas l Georgia l Idaho l Illinois l Louisiana l Maryland l New Jersey l New York l Oklahoma l South Dakota l Tennessee l Utah l Virginia New Mexico and Mississippi – required to offer Personal Finance

Personal Financial Literacy Standards Jump$tart Coalition Standards for Personal Financial Literacy CORE COMPETENCIES: • Financial Responsibility and Decision Making • Income and Careers • Planning and Money Management • Credit and Debt • Risk Management and Insurance l Saving and Investing http: //www. jumpstart. org/national-standards. html

What topics should Personal Finance Curriculum cover? • • Income/Career Planning Financial Decisions and Planning Banking Credit Saving Investing Taxes

Grade Levels, Students, Course Length l Grade Levels • General Curriculum: 9 th or 10 th grade • Business Elective: depends on district l Students • Basic Levels: 9 th or 10 th graders; are not necessarily ready to pursue business as a major • Advanced Levels: 11 th or 12 th grade; may have already decided to pursue a business degree l Course Length • Semester-long • Year-long

Managing Your Personal Finances, 6 e • Our best-selling finance title • Full year comprehensive approach • 11 th & 12 th grades – for higher level business course • Great for future business or finance majors • In-depth exploration of finance topics from a business perspective • Covers personal finance and life-long financial planning • Most often used for business elective courses

Economic Education for Consumers, 4 e • Full year comprehensive approach • Suitable for 9 th & 10 th grades – intended for lower level business course • Provides broad coverage of personal finance topics • Covers consumer spending and wise purchasing • Provides a business and personal focus for finance topics • Can be used as part of general curriculum, but is intended for a business elective class

Personal Financial Literacy, 2 e • Suitable for one semester • Intended for 9 th and 10 th grade students • Meets the needs of Financial Literacy as a graduation requirement • Intended for general curriculum • Uses a personal focus on financial information • Offers information on personal income, money management, spending, credit, and saving

Text Title Course Length Grade Levels Covers Managing Your Personal Finances Ryan, 6 e Full year 11 and 12 • Personal finance • Deep coverage of finance topics • Life-long financial planning • Intended as Business elective • High achieving students Economic Education for Consumers Miller and Stanford, 4 e Full year 9 and 10 • Consumer spending • Broader coverage of finance topics • Wise purchasing • Money management • Lower achieving students • Popular with Family and Consumer Science teachers Personal Financial Literacy Ryan, 2 e One semester 9 and 10 • Meets general ed. requirement • Broad coverage of finance topics • Personal focus • Income, money management, spending and credit, saving

Online Resources l NEFE www. nefe. org l National Endowment for Financial Education l NAF www. naf. org l National Academy Foundations (of Finance) l CEE www. ncee. net l Council for Economic Education (national) l NBEA www. nbea. org l National Business Education Association

Many other online resources… l http: //moneycentral. msn. com/home. asp l http: //finance. yahoo. com/banking-budgeting l www. bankrate. com l www. federalreserveeducation. org l www. ffltx. org l www. feedthepig. org l www. consumerjungle. org l www. moneyskills. org l www. practicalmoneyskills. com

Using Free Resources • Who 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?

Using Free Resources • Is 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)?

Managing Your Personal Finances, 6 e Instructional Resources • • • Annotated Instructor’s Edition Student Activity Guide Student Printed Tests Ebook Exam. View® CD Instructor’s Resource CD • lesson plans/outlines • instructor’s resource manual • teaching tools • Power. Point™ presentations • Spanish Glossary • Instructor’s Edition of Printed Tests • Instructor’s Edition of Student Activity Guide

Economic Education for Consumers, 4 e Instructional Resources • • • Instructor’s Wraparound Edition Instructor’s Resource CD Student Workbook Exam. View ® Ebook Instructor’s Resource Kit • Instructor’s Edition Workbook • Teaching Economics Book • Reteach and Enrich Activity Masters • Business Math, Communications, and Ethics Activity Masters • Alternative Assessment • Spanish Resources • Learning Styles • Using Technology

Personal Financial Literacy, 2 e Instructional Resources • • • Annotated Instructor’s Edition Student Workbook Exam. View® Instructor’s Resource CD Spanish Resources • Spanish Glossary • Student Workbook

Where do we start? l Personal experience - use as catalyst l Standards and Competencies l NBEA l State l Local District l Jump$tart l Cross-curricular applications l Local parental and business partnerships l Guest Speakers l Web resources l Articles

Take a closer look at our Texts for Personal Finance

Managing Your Personal Finances, 6 e l Author: Joan Ryan l Copyright 2010 l ISBN 978 -0 -5384 -4937 -3

Overview l Informs students of their various financial responsibilities l Chapters that not only inform but increase self-awareness and career readiness l Written specifically for high school students l New ways to maximize earning potential l Strategies to manage resources l Skills for the wise use of credit and investing money

Features l Alignment with National Programs l Jump$tart Coalition l National Academy Foundation l NBEA standards for Personal Finance l Students become active participants in the business world as l l Citizens Students Family members Consumers l Reinforcement and extension in every chapter: l l Planning a Career in Math Minute Net Notes Unit Projects l Life Span Plan Project

Features l Goals at the beginning of each lesson clearly state the learning objectives l Key Terms within the Lesson are identified with page references l Global View features show international connections relevant to personal finance

Features l Communication Connection offers speaking and writing activities related to the chapter content. l Math Minute offers a review and practice in basic math skills linked to the chapter topics. l View Points provide opportunities for students to think critically about issues that have no clear-cut answers.

Features l Issues in Your World enriches students’ knowledge by acquainting them with the real-world issues. l Planning a Career in… provides robust career information related to the chapter topic and it incorporates the Career Clusters.

Features l Lesson and Chapter Assessments give students the opportunity to tie their learning together and dig deeper into the issues. l l l l Key Terms Review Check Your Understanding Apply Your Knowledge Think Critically Chapter Summary Apply What You Know Make Academic Connections Solve Problems and Explore Issues l Extend Your Learning

Features l End-of-Unit Cases profile real people and describe how they applied the skills presented in this text to their own lives. l End-of-Unit Projects give students handson practice applying and extending what they have learned in each Unit.

Instructor Resources l Annotated Instructor’s Edition l l Instructor's Resource CD l l Lesson plans and outlines l Instructor’s resource manual l Teaching tools l Power. Point presentations l Spanish Glossary l Instructor’s Edition of printed tests l Instructor’s Edition of Student Activity Guide l Instructor Companion Website l Exam. View Printed Tests IMPACT CD-ROM l Animated graphs and figures illustrate key concepts l Definition of terms are reinforced l Hot Links to relevant websites l Forms to complete and send via email to instructor

Instructor’s Companion Website

Personal Financial Literacy, 2 e Author: Joan Ryan Copyright 2010 Pub Date: January 2011 ISBN: 9780538449373

Personal Financial Literacy, 2 e Three to Know • One-semester course • Fulfills financial literacy graduation requirement • Perfect for all 9 th and 10 th grade students

Ch. 1: How Your Choices Affect Income Ch. 2: Income, Benefits, & Taxes Ch. 3: Your Purchasing Power Ch. 4: Financial Decisions & Planning Ch. 5: The Banking System Ch. 6: Personal Risk Management Ch 7: Buying Decisions Ch 8: Preserving Your Credit Ch 9: Credit Problems and Laws Ch 10: Basics of Saving & Investing Ch 11: Saving & Investing Options Ch 12: Buying & Selling Investments

NEW Concepts covered in this edition l Job search skills/online job applications l Interviewing techniques l Preparing resumes and cover letters l Benefits/challenges of entrepreneurship l Consumer rights and responsibilities in marketplace l Charitable giving/philanthropy l Health care providers, services, fraud l Simple/compound interest

New to This Edition • All features now include a question or activity for application • Sharpen Your 21 st Century Entrepreneurial Skills feature incorporates the framework for 21 st Century Learning • Exploring Careers has a new focus to link content more closely to the 16 career clusters • Net Bookmark — a short feature that provides chapterrelated activities for online research • Take Action — an course-long project provides opportunity to synthesize concepts

Features Building Communication Skills feature focuses on crucial soft skills that are necessary in today’s competitive environment. (listening, reading, speaking, writing)

Features Focus On…feature highlights specific topics related to chapter content and supports students’ participation in student organizations.

Features Success Skills … feature provides information to help students be successful in school, work and personal activities.

Net Bookmark Feature provides opportunities for students to use the most current, relevant information through online research

Features Exploring Careers in…. feature presents specific information about careers in the areas identified by the US Dept. of Education as the 16 Career Clusters

Feature Take Action feature provides students with an opportunity to synthesize the concepts by participating in an ongoing project throughout the chapter.

End of Lesson Assessment l Key terms review helps students understand apply key lesson terminology l Check your understanding ensures student comprehension

End of Chapter Assessment Summary provides and concise wrap-up of chapter topics. Making Academic Connection relates chapter concepts to the “four core” curriculum areas

Personal Financial Literacy, 2 e Instructional Resources • • • Annotated Instructor’s Edition Student Workbook Exam. View® Test Generator Instructor’s Resource CD Spanish Resources • Spanish Glossary • Guided Practice CD (workbook activities in Spanish and teachers can just print them off the CD)

Free Companion Website

Personal Financial Literacy, 2 e l Author: Joan Ryan l Copyright 2010 l Pub Date: January 2011

Economic Education for Consumers, 4 e l Author: Miller and Stafford l Copyright 2010 l ISBN 978 -0 -5384 -4888 -8

Bring Economics to life! l Focus on consumer spending and making wise purchasing decisions l Bright, new design l Updated information on important changes in technology, banking, and taxes l Content aligned with Jump$tart coalition National Standards for Personal Financial Literacy

Valuable and Relevant Content l Extensive coverage is given to planning for college, retirement, saving, loans, online shopping, and banking.

Real-world Applications Life-Span Plan Project Links all aspects of personal finance to the students’ lives!

Maintain Student Interest l Consumer Action l Consumer Alert l Vote Your Wallet l Math Money l Net. Bookmark l In Class Activity

Student Resources l Workbook l Key Terms Review l Concepts Review l Critical Thinking l Consumer Applications l Make Decisions l Companion Website

Instructor Resources l l Companion Website Instructor’s Wraparound Edition Exam. View Instructor Resource Box l Workbook solutions l Printed Test bank l Reteach and Enrichment Activities l Alternative Assessments l Test Preparation and Study Skills

Instructor Resource CD

Power. Point Presentation

What your students learn in this book will have a direct impact on their life today and throughout their future!!

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Session Outline ü Why teach Personal Financial Literacy? ü Personal Financial Literacy covers what topics? ü How to teach Personal Financial Literacy ü Use of Instructional Materials and Resources

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Questions? Andrea Neff National Sales Consultant Andrea. neff@cengage. com