Presented by: Mindy Clark

Business Teacher

Green High School

Why Should We Teach Financial Literacy?

½ of American’s private sector workforce have NO formal savings plan

Between 25 and 56 million Americans do not have a bank account.

Only a quarter of Americans feel well informed about managing household finances.

Why is Financial Literacy Important?

19% of all bankruptcies are filed by people under age 25

88% of teens do not like the way it feels to owe someone money

29% of teens are already in debt with an average debt load close to $300.

Only 34% of teenagers know how to balance a checkbook

Charles Schwab and Jump$tart Coalition, 2006

Questions about the Financial Literacy

Requirements • When are schools required to begin

teaching financial literacy?• At what grade level are schools required to

teach financial literacy?• Who can teach financial literacy?• Are there professional development

opportunities available?• Can a school create a separate course to

teach financial literacy?

Ohio Department of Education

What schools are expected to teach:

relationship of income level to supply and demand in the market

roles of people in the economy consequences of choices affecting

budgets, savings, credit, philanthropy and investments

the effect of interest rates on savers and borrowers.

How do we get started?

Start NOW!!! Use a simulation game Newspapers Do NOT overteach!…Have students

explore and learn.

Resources with Free (or Almost Free) Materials

National Endowment for Financial Education® (NEFE®)

Jump$tart Coalition FDIC MoneySmart Computer Based Program Financial Literacy for Teens by Chad Foster Ohio Department of Education’s website USA Today Newspaper Dave Ramsey’s Foundations in Personal

Finance Fantasy Stock Market Game

National Endowment for Financial Education®

(NEFE®) Price: FreeUnit Topics Your Financial Plan: Where It All Begins Budgeting: Making the Most of Your Money Investing: Making Money Work for You Good Debt, Bad Debt: Using Credit Wisely Your Money: Keeping It Safe and Secure Insurance: Protecting What You Have Your Career: Doing What Matters Most

http://hsfpp.nefe.org/home

Jump$tart Coalition

Price: Free Offers the National Financial Literacy

Challenge Website is a resource to many other free

resources Check out the links under:

RESOURCES

http://www.jumpstart.org/

FDIC MoneySmart Computer Based Program

Price: Free Helps youth ages 12-20 learn the basics

of handling their money and finances Aligned with educational standards 8 instructor lead modules Modules includes a fully scripted

instructor guide, participant guide, and overhead slides

http://www.fdic.gov

Financial Literacy for Teens by Chad Foster

Price: $ 10 day short course or DVD Teaches a better understanding of how

to make, manage, protect, and save money

Topics Credit Card Debt, Needs and Wants, Insurance

Essentials, Secrets to Saving, Income Taxes , Internet Scams and Multiplying Money

http://www.chadfoster.com

Ohio Department of Education’s website

Price: Free Offers a number of free resources Offers Professional Development

http://www.ode.state.oh.us

USA Today Newspaper Price: Free Online newspaper Grant money is available if you would

like to have it delivered to your classroom.

Teaches students to enhance reading skills

Students can summarize articles on the economy and financial planning

http://www.usatoday.com

Dave Ramsey’s Foundations in Personal

Finance Price: $ Aligns to the National Standards for

Financial Literacy 4 units and 12 chapters Available as a 5 disc Media Library Students follow along using a student

workbook which is available as a PDF Elementary version

http://www.daveramsey.com/school

Fantasy Stock Market Game

Price: Free Requires registration on all students Private contests for classes Allows students to work on their own

and to help them learn from their mistakes

http://www.wallstreetsurvivor.com/

Websites for More Information

http://www.yourmoneynowonline.org http://www.fefe.arizona.edu http://www.practicalmoneyskills.com http://www.mymoney.gov http://www.uen.org/financial_lit/student/

teen_activities.shtml http://www.themint.org

Other Options:

Financial Services offered through Ohio Tech Prep

Classes offered through banks

More Information

Mrs. Mindy Clark

Green High School

Franklin Furnace, OH

1-740-354-9150

Mindy.clark@green.k12.oh.us