Financial Education Financial Education for a New Generationfor a New Generation

What’s all the BUZZ about?What’s all the BUZZ about?

““The U.S. economy is The U.S. economy is the the eighth wonder of the world. eighth wonder of the world. Americans’ ignorance of it Americans’ ignorance of it is the ninth.”is the ninth.” Arthur LevittArthur Levitt

Former chairman, Former chairman, New York Stock New York Stock ExchangeExchange

Today’s teens…Today’s teens…

• In a recent survey, fewer than half of teens polled In a recent survey, fewer than half of teens polled understood how to budget.understood how to budget.

• Entering college freshmen have an average debt of Entering college freshmen have an average debt of $1,500 on personal credit cards.$1,500 on personal credit cards.

• The average credit card debt for college seniors is The average credit card debt for college seniors is $2,864; a 48% increase from college freshmen.$2,864; a 48% increase from college freshmen.

• The average debt of graduating college seniors The average debt of graduating college seniors including student loans is $20,000.including student loans is $20,000.

• Americans under age 25 are filing for bankruptcy Americans under age 25 are filing for bankruptcy faster than any other age group.faster than any other age group.

Have you heard the news?Have you heard the news?• Youth financial education is now a Youth financial education is now a

requirement in public high school requirement in public high school curriculum.curriculum.

• Updated programs reflect changes in Updated programs reflect changes in state standards.state standards.

• Multiple resources available at no Multiple resources available at no charge.charge.

• Support staff includes national Support staff includes national partners, local experts and Extension partners, local experts and Extension educators.educators.

SB3741/HB3753SB3741/HB3753

• What is it?What is it?• How will it affect TN teachers and students?How will it affect TN teachers and students?• How will it affect 4-H agents?How will it affect 4-H agents?• Who can teach it?Who can teach it?• What are the learning expectations?What are the learning expectations?• What programs are available?What programs are available?

What is it…What is it… SB3741/HB3753SB3741/HB3753

• 2006 Legislative Session 2006 Legislative Session

• Signed by the GovernorSigned by the Governor

• Summary:Summary: Program of Program of instruction for public high instruction for public high schools on the elements of schools on the elements of personal finance and personal finance and financial literacy.financial literacy.

How will it affect…How will it affect…

Teachers:Teachers:• Defined content Defined content

areas meeting areas meeting established State established State standardsstandards

• Free training and Free training and materialmaterial

Students:Students:• Subject area Subject area

covers:covers:• IncomeIncome• Money Money

ManagementManagement• Spending and Spending and

CreditCredit• Savings and Savings and

InvestingInvesting

How will it affect…How will it affect…

4-H Agents:4-H Agents: Opportunity to train teachersOpportunity to train teachers Great resource for club meetings Great resource for club meetings

and and classroom presentationsclassroom presentations

Who can teach it?Who can teach it?

To meet State standards course will be:To meet State standards course will be:• Taught by any licensed secondary Taught by any licensed secondary

teacherteacher• Focused on grades 9-12Focused on grades 9-12• One semester in duration (1/2 Carnegie One semester in duration (1/2 Carnegie

unit)unit)

What are the learning What are the learning expectations?expectations?

• Design personal and household budgets.Design personal and household budgets.• Simulate use of checking and savings Simulate use of checking and savings

accounts.accounts.• Demonstrate knowledge of finance, debt & Demonstrate knowledge of finance, debt &

credit management.credit management.• Evaluate and understand insurance and Evaluate and understand insurance and

taxes.taxes.

NEFE HSFPPNEFE HSFPP

A Winning CombinationA Winning Combination

Bringing Financial Education Bringing Financial Education to to

the Nation’s Youththe Nation’s Youth

HSFPP Training ModelHSFPP Training Model

• Training to be conducted across the state Training to be conducted across the state for agents and teachers during the for agents and teachers during the summer and early fall.summer and early fall.

• Can be individual or team-teaching Can be individual or team-teaching sessions.sessions.

• Session time: 9-3Session time: 9-3

• See sign up sheet!!!!See sign up sheet!!!!

NEFE High School NEFE High School Financial Planning ProgramFinancial Planning Program

• FREE!FREE!• Easy to implementEasy to implement• Can be taught in as few as 10 hoursCan be taught in as few as 10 hours• Flexible format that teachers likeFlexible format that teachers like• Proven to change students’ knowledge, Proven to change students’ knowledge,

actions and self-confidence around actions and self-confidence around moneymoney

• Strictly educational in natureStrictly educational in nature

Areas of focus:Areas of focus:Unit 1: Your Financial PlanUnit 1: Your Financial Plan

-Where It All Begins-Where It All Begins

Unit 2: BudgetingUnit 2: Budgeting -Making the Most of Your Money-Making the Most of Your Money

Unit 3: InvestingUnit 3: Investing -Making Money Work for You-Making Money Work for You

Unit 4: Good Debt, Bad DebtUnit 4: Good Debt, Bad Debt -Using Credit Wisely-Using Credit Wisely

Unit 5: Your Money Unit 5: Your Money -Keeping It Safe and secure-Keeping It Safe and secure

Unit 6: InsuranceUnit 6: Insurance -Protecting What You Have-Protecting What You Have

Unit 7: You CareerUnit 7: You Career -Doing What Matters Most-Doing What Matters Most

Instructor ResourcesInstructor Resources

• ManualManual

• Instructor WebsiteInstructor Website

• Supplemental learn by Supplemental learn by doing activitiesdoing activities

• TestsTests

• GlossaryGlossary

• Dr. Ann BerryDr. Ann Berry218 Morgan Hall218 Morgan HallUniversity of TennesseeUniversity of TennesseeKnoxville, TN 37996-4501Knoxville, TN 37996-4501865.974.8745865.974.8745aaberry@utk.eduaaberry@utk.edu

• Sarah TaylorSarah Taylor218 Morgan Hall218 Morgan HallUniversity of TennesseeUniversity of TennesseeKnoxville, TN 37996-4501Knoxville, TN 37996-4501865.974.6074865.974.6074sander28@tennessee.edusander28@tennessee.edu

Other NEFE ResourcesOther NEFE Resources

• Curriculum Curriculum

• http://http://www.nefe.orgwww.nefe.org http://hsfpp.nefe.orghttp://hsfpp.nefe.org

• Success Street Sweep (Interactive game) Success Street Sweep (Interactive game) • http://www.nefe.org/hsfppportal/index.htmlhttp://www.nefe.org/hsfppportal/index.html

• Web-Based TrainingWeb-Based Training• http://www.nefe.org/pages/educational.htmlhttp://www.nefe.org/pages/educational.html

• Teen Resource BureauTeen Resource Bureau• http://www.ntrbonline.org/english/index.htmlhttp://www.ntrbonline.org/english/index.html

http://www.nefe.org

http://www.nefe.orghttp://www.nefe.org

http://www.nefe.orghttp://www.nefe.org

https://www.nefe.org/hsfppportal/includes/main/link/

NTRBOnline.comNTRBOnline.comNEFE Teen Resource BureauNEFE Teen Resource Bureau

http://www.ntrbonline.org/http://www.ntrbonline.org/

Money $peaksMoney $peaks

Helping Teens Helping Teens

and Parents and Parents

Communicate Communicate

about Moneyabout Money

4-H Financial Education 4-H Financial Education Club Meeting ProgramsClub Meeting Programs

Grades 4-6Grades 4-6 Grades 7-12Grades 7-12

• Educational gameEducational game • Questions based on Questions based on

NEFE materialNEFE material

• Game can be Game can be customized to use with customized to use with other curriculumother curriculum

Bill Gates Bill Gates

Chairman/CEOChairman/CEO Microsoft CorporationMicrosoft Corporation

Community Resources… Community Resources… Get Everyone InvolvedGet Everyone Involved

• CPA’sCPA’s• Certified Financial Planners (CFP’s)Certified Financial Planners (CFP’s)

& Financial Advisors& Financial Advisors• Insurance AgentsInsurance Agents• Banks & Credit UnionsBanks & Credit Unions• Junior AchievementJunior Achievement• Non-Profit AgenciesNon-Profit Agencies• Other Government AgenciesOther Government Agencies

-HUD, Social Security Administration, -HUD, Social Security Administration, Dept of Labor etc.Dept of Labor etc.

• Retired ProfessionalsRetired Professionals

Join Us!Join Us!

• TN Jump$tart TN Jump$tart Teacher ConferenceTeacher Conference

• June 20-22, 2007June 20-22, 2007

• Gatlinburg, TNGatlinburg, TN

Now what?Now what?

• May 10May 10thth agent training agent training

SIGN UP!!!SIGN UP!!! (sheets in back of room) (sheets in back of room)

• Schedule a teacher training in your Schedule a teacher training in your countycounty