Financial Education Resources OTF Financial Literacy Workshops -- Secondary Christine Allum
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Transcript of Financial Education Resources OTF Financial Literacy Workshops -- Secondary Christine Allum
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www.getsmarteraboutmoney.ca
© Investor Education Fund, 2011
Financial Education ResourcesOTF Financial Literacy Workshops -- Secondary
Christine Allum
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© Investor Education Fund, 2011
Who we are?• Non-profit organization created by the Ontario Securities
Commission (OSC)• Funded through OSC settlement monies• Educational arm of the OSC• Mandate to promote financial literacy
Investor Education Fund (IEF)
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© Investor Education Fund, 2011
IEF
What we do?• Help consumers make better informed decisions via
www.GetSmarterAboutMoney.ca• Support (fund) community-based, non-profit organizations
financial literacy initiatives• Provide teachers with resources and training
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© Investor Education Fund, 2011
IEF Research2011 survey of 1,000 people answered questions related to investing borrowing
and financial planning -- average score was 11.5 correct out of 23 questions (50%)
• People need to learn how to apply what they know to real life decisions. For instance, we found that in the context of choosing a mortgage, people were not able to apply their knowledge that borrowing for a longer time means you will pay more interest overall.
• People need to learn how to apply what they know to real life decisions• People need to build their knowledge of investment risks and returns. • People need to improve their knowledge of financial planning and setting
goals. • Those under age 35 need to learn about the tax rules for RRSPs. • There are still people who are vulnerable to investment fraud.
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© Investor Education Fund, 2011
IEF Research2009 survey of 400 Ontario students• 48% don’t believe that school is doing a good job in providing
them with information to manage money• 57% don’t know how to create a budget• 62% don’t believe they make good spending decisions• Top two sources students relied on for financial information
– 50% web – 40% school
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© Investor Education Fund, 2011
How we helpEducation program• Teacher training• Curriculum-based resources and tools– Taking Stock in Your Future Guides– Activity kits and lesson plans– Online tools and resources– Student assembly and competitions
• www.GetSmarterAboutMoney.ca
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© Investor Education Fund, 2011
GetSmarterAboutMoney.ca, Education Programs, For TeachersResources by GradesCurriculum tools
Curriculum correlations http://www.getsmarteraboutmoney.ca/education-programs/for-teachers/curriculum-tools/Taking-stock-in-your-future/Pages/curriculum-correlations.aspx
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© Investor Education Fund, 2011
Funny Money for High Schools
• Funny Money High Schools Assembly – Available in French and English– Grade 11 and 12 students
• Funny Money Tool Kit• Funny Money Animated Videoshttp://www.getsmarterwithfunnymoney.ca/
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© Investor Education Fund, 2011
Globeclassroom.caLesson plans based on current affairs
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© Investor Education Fund, 2011
Toronto Star teaching kitsFree classroom set of newspapers for two weeksFree teaching kit
• 2010-11 Financial Intelligence Series • 2009-10 All About Money• 2008-09 Smart Money Management• 2007-08 Smart Consumer Management
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© Investor Education Fund, 2011
Money Apps – NEW program• 2 hour presentation for graduating students• piloted to 400 students• 79% said the presentation increased their financial knowledge• 77% would recommend the program
Program materials will be available to schools who are interested in providing their students with this information
• powerpoint presentation plus student handout
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© Investor Education Fund, 2011
Competitions and Awards – cash prizesEducator Award• Leader in financial literacy
Student competitions• Lesson/assignment includes self-reflection
– Saving and Investing Challenge (gr 9-10)– Financial Reality Check Award (gr 11-12)– Financial Securities Portfolio Competition (gr 11-12)
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© Investor Education Fund, 2011
www.GetSmarterAboutMoney.ca
Blog – School of Savings• post-secondary students money stories during the school year
and while working this summer
Life Events• Life After High School• Getting an Education
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© Investor Education Fund, 2011
Financial literacy across the curriculumSubject Expectation IEF resource/program
Civics Analyse contemporary crises or issues of international significance (financial impact of current events)
Globeclassroom.ca- economy, careers, environment, money
Canadian History
Identify the contributions of selected Canadian entrepreneurs and Canadian owned-firms to the development of the Canadian economy (research, analysis, problem-solving, decision making skills)
Taking Stock Intermediate – Activity 8 Canadian Entrepreneurs Internet Investigation
Math Exponential functions, quadratic equations, polynomial functions (compound interest, future and present value)
Taking Stock Senior Guide - Module 2 activities
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© Investor Education Fund, 2011
Financial literacy across the curriculum
Subject Expectation (Financial literacy correlation)
Resource
Guidance and Career Studies
Prepare for transitions and change (research and project of a post-secondary program)
Financial Reality Check Award
Information and Communication & Technology
Productivity software (use excel to create budget; develop a powerpoint presentation to illustrate financial terminology)
Developing Financial Skills - Setting priorities, Distinguishing between wants and needs
Family Studies Becoming a responsible consumer; managing resources(manage debt and credit)
Get it on Credit video
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© Investor Education Fund, 2011
How to start/introduce financial literacyAre you Doing it Regularly (IEF video)http://www.getsmarteraboutmoney.ca/managing-your-money/planning/investing-basics/Pages/video-are-you-doing-it-regularly.aspx?group=Get smarter about money&page=1
How money savvy are you? (Fin. Skills Guide)http://www.getsmarteraboutmoney.ca/education-programs/for-teachers/curriculum-tools/financial-skills-guide/Documents/financial-skills-guide-self-assessment.pdf
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© Investor Education Fund, 2011
Financial management activitiesWorksheet: Fin. Skills Guide -- Goal settinghttp://www.getsmarteraboutmoney.ca/education-programs/Documents/goal-setting-worksheet.pdfInteractive: Time is money (growing savings - compound interest and simple
interest)http://www.getsmarteraboutmoney.ca/education-programs/for-teachers/multimedia-resources/Documents/timeIsMoney/timeIsMoneyMovie.swfVideo: Get it on credit (real cost when buying on credit)http://www.getsmarteraboutmoney.ca/managing-your-money/planning/managing-debt/Pages/video-get-it-on-credit.aspx?group=Funny%20Money&page=1
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© Investor Education Fund, 2011
Project based assignmentInvestment portfolioInvestor – financial profile and goals (grades 9/10)
Financial termsBudgeting and saving conceptsWealth building
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© Investor Education Fund, 2011
Project based assignmentInvestment portfolio (grade 11/12)
Stock market, investing Financial statements Economic climate and trendsRatios: Stock and company values
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© Investor Education Fund, 2011
Find us
You at youtube.com/InvestorEDFund
at twitter.com/smarter_money
GetSmarterAboutMoney.ca
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© Investor Education Fund, 2011
Contact usSubscribe to IEF teacher e-newsletterhttp://www.getsmarteraboutmoney.ca/education_programs/for_teachers/professional_development/e_newsletter/TeacherNewsletter.aspx
Email: [email protected]: 416-593-2369