Personal Financial Literacy Andrea Neff National Sales Consultant Session Outline Why teach Personal Financial Literacy Personal Financial Literacy covers what topics How to teach Personal Financial Literacy ID: 605424
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Slide1
Making it Personal Financial Literacy
Andrea Neff
,
National Sales
Consultant
Slide2
Session Outline
Why teach Personal Financial Literacy?
Personal Financial Literacy covers what topics?
How to teach Personal Financial Literacy
Use of Instructional Materials and ResourcesSlide3Slide4Slide5
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?
Slide6
The average teenager spends approximately $5,400 each year (National Endowment for Financial Education).
Collectively, teenagers spend more than $172 billion annually –
that’s billion!
Today’s high school graduate will earn over $1 million in adulthood.
T
eenage
SpendingSlide7
Health Insurance
Get Creditworthy
Budget Online
Invest
Live Small
When students go out on their own…
wedding
high rent
clothes
low salary
furniture
carSlide8
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. $1,694
3. If you are late on a credit card payment, go over your
credit limit or miss a payment, which of these are possible?
a. You will not be able to rent an apartment.
b. You will not get hired for a job.
c. You will not be able to get a cell phone or a student loan.
d. All of the above
Suze
OrmanSlide9
Topics that need to be covered with our teens…
Saving and Investing
-How to research, buy, and sell investments
Risk Management
-Decision-Making skills
Spending and Credit
-Buying wisely, pitfalls of credit, overspending
Understanding Income
-Career planning, income sources, taxes, inflation, etc.
Money Management
-Personal financial planning, budgeting, checking accounts, and insuranceSlide10
2009 Survey…
Council for Economic Education - December 3, 2009Slide11
Personal Finance Course
Graduation Requirement
Arkansas
Georgia
Idaho
Illinois
Louisiana
Maryland
New Jersey
New York
Oklahoma
South Dakota
Tennessee
Utah
Virginia
New Mexico and Mississippi – required to offer Personal FinanceSlide12Slide13Slide14
CORE COMPETENCIES:
Financial Responsibility and Decision Making
Income and Careers
Planning and Money Management
Credit and Debt
Risk Management and Insurance
Saving and Investing
http
://www.jumpstart.org/national-standards.html
Personal Financial Literacy Standards
Jump$tart
Coalition Standards for Personal Financial LiteracySlide15
What topics should Personal Finance Curriculum cover?
Income/Career Planning
Financial Decisions and Planning
Banking
Credit
Saving
Investing
TaxesSlide16
Grade Levels, Students, Course Length
Grade Levels
General Curriculum: 9
th
or 10
th
grade
Business Elective: depends on district
Students
Basic Levels: 9
th
or 10
th
graders; are not necessarily ready to pursue business as a major
Advanced Levels: 11
th or 12th grade; may have already decided to pursue a business degreeCourse LengthSemester-long
Year-longSlide17
Managing Your Personal Finances, 6e
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 coursesSlide18
Economic Education for Consumers, 4e
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 topicsCan be used as part of general curriculum, but is intended for a business elective class Slide19
Personal Financial Literacy, 2e
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 Slide20
Text Title
Course
Length
Grade
Levels
Covers
Managing
Your Personal Finances
Ryan, 6e
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 ConsumersMiller and Stanford, 4eFull 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 LiteracyRyan, 2eOnesemester
9 and 10
Meets general ed. requirement
Broad
coverage of finance topics
Personal focus
Income, money management, spending and credit, saving Slide21
Online Resources
NEFE
www.nefe.org
National Endowment for Financial Education
NAF
www.naf.org
National Academy Foundations (of Finance)
CEE
www.ncee.net
Council for Economic Education (national)
NBEA
www.nbea.org
National Business Education AssociationSlide22
Many other online resources…
http://moneycentral.msn.com/home.asp
http://finance.yahoo.com/banking-budgeting
www.bankrate.com
www.federalreserveeducation.org
www.ffltx.org
www.feedthepig.org
www.consumerjungle.org
www.moneyskills.org
www.practicalmoneyskills.com
Slide23
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? Slide24
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)?
Using Free ResourcesSlide25
Annotated Instructor’s Edition
Student Activity Guide
Student Printed Tests
Ebook
ExamView
® CD
Instructor’s Resource CD
lesson plans/outlines
instructor’s resource manual
teaching tools
PowerPoint™ presentations
Spanish Glossary
Instructor’s Edition of Printed Tests
Instructor’s Edition of Student Activity Guide
Managing Your Personal Finances, 6e
Instructional ResourcesSlide26
Economic Education for Consumers, 4e
Instructional Resources
Instructor’s Wraparound Edition
Instructor’s Resource CD
Student Workbook
ExamView
®
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 TechnologySlide27
Annotated Instructor’s Edition
Student Workbook
Ebook
ExamView
®
Instructor’s Resource CD
Spanish Resources
Spanish Glossary
Student Workbook
Personal Financial Literacy, 2e
Instructional ResourcesSlide28
Where do we start?
Personal experience - use as catalyst
Standards and Competencies
NBEA
State
Local District
Jump$tart
Cross-curricular applications
Local parental and business partnerships
Guest Speakers
Web resources
ArticlesSlide29
Take a closer look
at our Texts
for Personal FinanceSlide30
Managing Your Personal Finances, 6e
Author: Joan Ryan
Copyright 2010
ISBN 978-0-5384-4937-3Slide31
Overview
Informs students of their various financial responsibilities
Chapters that not only inform but increase
self-awareness
and
career readiness
Written specifically for high school students
New ways to maximize earning potential
Strategies to manage resources
Skills for the wise use of credit and investing moneySlide32
Features
Alignment with National Programs
Jump$tart
Coalition
National Academy Foundation
NBEA standards for Personal Finance
Students become active participants in the business world as
Citizens
Students
Family members
Consumers
Reinforcement and extension in every chapter:
Planning a Career in
Math Minute
Net Notes
Unit Projects
Life Span Plan ProjectSlide33
Features
Goals
at the beginning of each lesson clearly state the learning objectives
Key
Terms
within the Lesson are identified with page references
Global View
features show international connections relevant to personal financeSlide34
Features
Communication Connection
offers speaking and writing activities related to the chapter content.
Math Minute
offers a review and practice in basic math skills linked to the chapter topics.
View
Points
provide opportunities for students to think critically about issues that have no clear-cut answers.Slide35
Features
Issues in Your World
enriches students’ knowledge by acquainting them with the real-world issues.
Planning a Career in…
provides robust career information related to the chapter topic and it incorporates the Career Clusters.Slide36
Features
Lesson and Chapter Assessments give students the opportunity to tie their learning together and dig deeper into the issues.
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
Extend Your LearningSlide37
Features
End-of-
Unit Cases
profile real people and describe how they applied the skills presented in this text to their own lives.
End-of-
Unit Projects
give students hands-on practice applying and extending what they have learned in each Unit.Slide38
Instructor Resources
Annotated Instructor’s Edition
Instructor's Resource CD
Lesson plans and outlines
Instructor’s resource manual
Teaching tools
PowerPoint presentations
Spanish Glossary
Instructor’s Edition of printed tests
Instructor’s Edition of Student Activity Guide
Instructor Companion Website
ExamView
Printed Tests
IMPACT CD-ROM
Animated graphs and figures illustrate key concepts
Definition of terms are reinforced
Hot Links to relevant websitesForms to complete and send via email to instructorSlide39
Instructor’s Companion WebsiteSlide40
Author: Joan Ryan
Copyright 2010
Pub Date: January 2011
ISBN:
9780538449373
Personal Financial Literacy, 2eSlide41
Three
to Know
One-semester
course
Fulfills financial literacy graduation
requirement
Perfect for all 9
th
and 10
th
grade students
Personal Financial Literacy, 2eSlide42
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 CreditCh 9: Credit Problems and LawsCh 10: Basics of Saving & InvestingCh
11: Saving & Investing OptionsCh 12: Buying & Selling Investments
12 Chapters
3-4 lessons per chapter that cover
financial literacy standardsSlide43
NEW
Concepts covered in this edition
Job search skills/online job applications
Interviewing techniques
Preparing resumes and cover letters
Benefits/challenges of entrepreneurship
Consumer rights and responsibilities in marketplace
Charitable giving/philanthropy
Health care providers, services, fraud
Simple/compound interestSlide44
New to This
Edition
All features now include a question or activity for application
Sharpen Your 21st 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 chapter-related activities for online research
Take Action
— an course-long project provides opportunity to synthesize concepts Slide45
Features
Building Communication Skills
feature focuses on crucial soft skills that are necessary in today’s competitive environment
.
(
listening, reading,
speaking, writing)Slide46
Features
Focus On
…feature highlights specific topics related to chapter content and supports students’ participation in student organizations.Slide47
Features
Success Skills …
feature provides information to help students be successful in school, work and personal activities.Slide48
Net Bookmark
Feature provides opportunities for students to use the most current, relevant information through online researchSlide49
Features
Exploring Careers in
….
feature presents specific information about careers in the areas identified by the US Dept. of Education as the 16 Career ClustersSlide50
Feature
Take Action
feature provides students with an opportunity to synthesize the concepts by participating in an ongoing project throughout the chapter.Slide51
End of Lesson Assessment
Key terms review helps students understand and apply key lesson terminology
Check your understanding ensures student comprehensionSlide52
End of Chapter Assessment
Summary
provides and concise wrap-up of chapter topics.
Making Academic Connection
relates chapter concepts to the “four core” curriculum areasSlide53
Annotated Instructor’s Edition
Student Workbook
Ebook
ExamView
® 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)
Personal Financial Literacy, 2e Instructional ResourcesSlide54
Free Companion WebsiteSlide55Slide56
Personal Financial Literacy, 2e
Author: Joan Ryan
Copyright 2010
Pub Date: January 2011Slide57
Economic Education for Consumers, 4e
Author:
Miller and Stafford
Copyright 2010
ISBN 978-0-5384-
4888-8Slide58
Bring Economics to life!
Focus on
consumer spending
and making wise purchasing decisions
Bright,
new design
Updated
information on important changes in technology, banking, and taxes
Content aligned with
Jump$tart
coalition
National Standards for Personal Financial LiteracySlide59
Valuable and Relevant Content
Extensive coverage is given to
planning for college, retirement, saving, loans, online shopping, and banking.Slide60
Real-world Applications
Life-Span Plan Project
Links all aspects of personal finance to the students’ lives!Slide61
Maintain Student Interest
Consumer Action
Consumer Alert
Vote Your Wallet
Math Money
NetBookmark
In
Class ActivitySlide62
Student Resources
Workbook
Key Terms Review
Concepts Review
Critical Thinking
Consumer Applications
Make Decisions
Companion WebsiteSlide63
Instructor Resources
Companion Website
Instructor’s Wraparound Edition
ExamView
Instructor Resource Box
Workbook solutions
Printed Test bank
Reteach and Enrichment Activities
Alternative Assessments
Test Preparation and Study SkillsSlide64
Instructor Resource CDSlide65
PowerPoint PresentationSlide66
What your students learn in this book will have a direct impact on their life today and throughout their future!!Slide67
Other products available…Slide68
Session Outline
Why teach Personal Financial Literacy?
Personal Financial Literacy covers what topics?
How to teach Personal Financial Literacy
Use of Instructional Materials and ResourcesSlide69
For live or recorded webinars and training sessions, visit our
TeamUP
Training & Services website!
www.cengage.com/school/teamup/Slide70
www.cengage.com/focus/paSlide71
http
://www.cengagesites.com/academic/?site=5266Slide72
Andrea NeffNational Sales Consultant
Andrea.neff@cengage.com
Questions?