Bring Personal Finance to “Life” and Increase Accountability Outcomes

1. Bring Personal Finance to “Life” and Increase Accountability Outcomes Karon L. Tomerlin, Aurora High School MBEA/MO-ACTE Summer 2007 ktomerlin@yahoo.com

2. Is there actually a problem in education today?

3. Are you tired of low student achievement and their lack of motivation?

4. Benefit of Rigor and Relevance • Increase the impact of personal finance by planning activities using the rigor and relevance framework. • Prepare your students for life and for testing.

5. Why bother? • Significant literacy deficit overall impacts ability to learn and master critical skills • Personal financial literacy deficit impacts both personal and national economic effectiveness

6. Why are We Dragging Our Heels? • No Time for Planning • Little Time for Implementation • Unclear Strategy • Low Student or Teacher Initiative • Not a Clear Understanding of Rigor • No Consistency

7. Facts • For every 100 ninth graders (Center for Higher Education Management Systems, 2003) • 67 graduate from high school • 38 enter college • 26 still enrolled after their sophomore year • 18 graduate from college in six years • 82 percent of students reported that they would have worked harder if a teacher would have required it.

8. Financial Facts “The Truth about Credit Card Debt,” Liz Pulliam Weston, Moneycentralmsn.com • The average American carries more than $8,000 in credit card debt. • In reality, most Americans owe nothing to credit card companies. • Most households that carry balances owe $2,000 or less. • Only about 1 in 20 American households owes $8,000 or more on credit cards. • These figures are from the Federal Reserves 2001 Survey of Consumer Finances, one of the most comprehensive assessments of what Americans own and owe.

9. www.moneycentralmsn.com

10. Future Trends • Today’s ninth graders will graduate in 2011. • What trends will affect the world they will enter ? • What will the educated student look like in the year 2030 ? How much time have you spent considering these questions ?

11. Ask Me..... “How will I ever use what I’m learning today?”

12. What changes can we make? • Keep it “fresh” • Update for relevance to student lifestyles/backgrounds • Encourage social-appropriateness for career success (networking) • Look at what you do: “ real world?” versus “it’s on the test!”

13. “Bottom Line” Literacy • Results from relevance of content/strategy to lifestyle, background, and future needs • Emphasizes process learning • Leads to independent learning

14. What can we do? • Provide access to a variety of materials • Use instructional strategies to stimulate interest in more complex material • Implement high quality assessments to show strengths/weaknesses of students and professional learning needs of teachers • Model and teach reading and math competencies and study strategies across the content areas • Team stronger readers with struggling readers for one on one

15. What Is Rigor? • Deep Immersion in Subject • Uses Sophisticated Texts, Tools and Language • Real-World Settings • Complex, Messy Problems • Experience is Reflective and Intimate • Active Learning • Observe and Maintain Information • Challenge Assumptions • Learning and Work Never Completed

16. Rigor/Relevance Framework D C Student Thinks Student Thinks and Works RIGOR High B A Student Works Teacher Works Low Low High RELEVANCE

17. Rigor & Relevance Framework • Focus on the Right Standards • What is on the Standard/National Tests • What Matters in Life • Trim Down Curriculum • What Must They Know • What They Need to Know • …All of the Rest

18. Rigor/Relevance Framework KNOWLEDGE Assimilation Adaptation D C Acquisition Application B A A P P L I C A T I O N

19. Knowledge Taxonomy 6. Evaluation 5. Synthesis 4. Analysis 3. Application 2. Comprehension 1. Recall Knowledge

20. Application Model 5 Application to real-world unpredictable situations 4 Application to real-world predictable situations 3 Application across disciplines 2 Application within discipline 1 Knowledge of one discipline

22. How can we get it together? • Work with what you already use • Determine where it fits in • Look at adjustments that will move it from it’s current quadrant to the next level.

23. Students can do no better than the assignments they’re given Planning Instruction

24. McREL – Marzano Research • 3,093 benchmarks on national standards • X average 5 hours per standard • = 15,465 hours to teach all skills • K-12 IF a student misses NO days and takes NO lunch, he/will have 9,042 hours at school. Joanna Kister, SREB Consultant, Dallas, TX, January 18-20, 2007

25. Heidi Hayes Jacobs Given the limited time you have with your students, curriculum design has become more and more an issue of deciding what you won’t teach as well as what you will teach. You cannot do it all. As a designer, you must choose the essential.” Joanna Kister, SREB Consultant, Dallas, TX, January 18-20, 2007

26. Resources

27. Magazines Money SmartMoney Kiplinger Personal Finance Fortune Web Sites www.dese.mo.gov/divcareered www.mcce.org www.practicalmoneyskills.com www.KansasCityFed.org/TEN www.jumpstart.org Resources • Books • Personal Financial Literacy (SW) • Managing Your Personal Finances (SW) • Personal Finance (Glencoe) • Financial Planning Program (NEFE) • Choice Chance Control (State Farm)

28. Rigor/Relevance? • The “R”s of R-Factor Learning • Relationships- Why do I need to know this? Will it be on the test? • Rigor- How challenging is it for students? • Relevance- How real? Connections? • Responsibilities- Who does what?

29. Current Practices

31. Example Multiple Performances for Single Standard Reading - H.S Level Standard: Identify, collect and/or select pertinent information while reading A Read science experiment and identify necessary materials to perform experiment. B Locate and read a current article on biotechnology. C Read and analyze three original newspaper articles from World War II and identify reasons for opposition to US entry into the war. D Research pertinent information related to the El Nino weather pattern and propose possible family vacation destinations. R/R Quadrant Student Performance

32. Example Multiple Performances for Single Standard Personal Finance/Reading - H.S Level Standard: Identify, collect and/or select pertinent information while reading A Read chapter on types of investments and identify necessary terms related to each. B Locate and read a current article on a selected type of investment instrument. C Read and analyze three original magazine articles identify strategies for investing. D Research pertinent information related to a given case and propose possible investment options for the situation. R/R Quadrant Student Performance

33. Example Multiple Performances for Single StandardMath - M.S Level Standard: Use statistical measures, including central tendency, to describe and compare data A Calculate mean, mode, median on a set of data. B Collect data on braking distance of automobiles at various speeds and determine averages. C Select the best measure of central tendency and calculate data to support a specific intent. D Develop a statistical sampling plan for determining number of products which do not meet quality standards. R/R Quadrant Student Performance

34. Example Multiple Performances for Single StandardPersonal Finance/Math - HS Level Standard: Use real numbers to solve problems. A Calculate current balance on a check book register. B Collect data on transactions for one month and determine current balance. C Complete a reconciliation for a bank statement. D Audit a bank reconciliation case before completing all transactions and reconciliation for a second month. R/R Quadrant Student Performance

35. Application Model Decision Tree Is it Application? • If NO If YES - Is it real world? • If NO and one discipline • If NO and interdisciplinary If YES - Is it unpredictable? • If NO • If YES • Level 1 • Level 2 • Level 3 • Level 4 • Level 5

36. Relevance Connection • Critique your “assignments” and begin to tweak them for higher levels of rigor and relevance. • Self-Reflect: who is doing all the work? (Flat line teachers)

37. Strategies for Increasing Rigor?Washor and Mojkowski, Educational Leadership, 2007 • Work with Passions and Interests • Connect Learning to Real-World Contexts • Build Relationships • Address the Head, Hand, Heart, and Health • Assess Rigorously

38. Quadrant A Strategies • Guided Practice • Lecture • Memorization • Games • Recognition & Rewards • Review/Re-teach

39. Quadrant B Strategies • Community Service • Demonstration • Instructional Technology • Simulation/Role Play • Internship • Total Physical Response • Video

40. Quadrant C Strategies • Brainstorming • Compare/Contrast • Literature • Research • Socratic Seminar • Teacher Question • Writing

41. Quadrant D Strategies • Community Service • Comparative Learning • Inquiry • Instructional Technology • Internships • Presentations/Exhibitions • Problem-Based Learning • Project Design • Work-Based Learning

42. Rigor & Relevance Framework Worksheet • On this worksheet think about the “assignments” you ask your students or teachers to complete. Try to write a few assignments in each of the framework boxes. Consider how you might alter the assignment for a higher level of learning.

44. Student Learning Instruction Expected Student Performance Actual Student Performance Assessment Student Learning Rigorous and Relevant Instruction How What How Well Rigor/Relevance Rigor/Relevance Feedback Reflection

45. Rigor & Relevance Framework:A Useful Tool to Evaluate • Curriculum • Instruction • Assessment • Activities

46. To Learn About Additional Training in Rigor and Relevance (R-Factor Learning) Contact: Dr. Barbara Harrison, Director Missouri Center for Career Education 1-660-543-8768

47. Willard Wirtz There aren’t two worlds -- education and work, there is one world -- life.