1. PERSONAL FINANCE LITERACY WORKSHOP LEWISVILLE ISD August 2, 2011 Mrs. Sally Adamson Texas Council for Economic Education

2. PERSONAL FINANCE LITERACY AGENDA: • Registration forms • Introductions • Pre-test on Financial Literacy • 2011-12 Texas TEKS on PFL • Resources available • PowerPoint – videos, lesson demonstrations & activities • Post-test & TCEE Opportunitites • Reflections & Dismissal

3. PERSONAL FINANCE LITERACY • Texas Revised TEKS for Social Studies will be implemented in 2011-12 school year. • PFL was first passed as a legal requirement for high school about 5 years ago; now it is part of the Free Enterprise TEKS required for graduation. • In June, 2011, the Texas Legislature passed a new law requiring that PFL be included in all math classes from K – grade 8.

4. PERSONAL FINANCE LITERACY • Resources available for PFL include: • Virtual Economics V4 CD (Council for Economic Education – formerly NCEE) • Hands On Banking CD (Wells Fargo) • Financing Your Future CD (Citigroup Foundation & NCEE)

5. Why is K-12 financial education so important? • The lack of financial literacy is a national problem. • Research suggests that learning about personal finance at an early age is the key. • Citizens need the knowledge to be able to make well-informed, sound public policy decisions.

6. Why is K-12 financial education so important • Americans have approximately $1 trillion in revolving credit card debt. - half make the minimum monthly payment. • Nationally, those under 25 are the fastest-growing age group filing for personal bankruptcy.

7. Financing Your Future Personal Finance Video Series on DVD • Developed by NCEE • Funded by the Citigroup Foundation

8. Financing Your Future • Aimed primarily at High School Students • Helps students develop sound financial life skills • Illustrates how sound choices can • Build financial success and • Lead to a more satisfying life

9. Financing Your Future • Aimed primarily at High School Students • Helps students develop sound financial life skills • Illustrates how sound choices can • Build financial success and • Lead to a more satisfying life

10. Financing Your Future • The Teacher’s Guide includes • 15 lessons – 3 for each of the 5 videos • Tables of Correlation with • NCEE Economics Standards • Jump$tart Personal Finance Standards, • National Council of Teachers of Mathematics Standards • A glossary of terms • Pre- & post-test questions for classroom use

11. Financing Your Future • The first lesson for each video includes a short true/false and a short activity • The remaining two lessons feature role plays and group work to develop content introduced in the videos • Lessons are in PDF format on the CD

13. Financing Your Future • Video # 1 – “Get a Financial Life” • Introduces basic vocabulary & key concepts such as wealth building, savings and an important rule- “spend less than you earn”. • Watch video • Do activities from Part 1

14. Financial Fitness for Life • Produced by the Council on Economic Education in partnership with Bank of America Charitable Foundation • The Second Edition came out in 2011, after more than 10 years of success with the First Edition • CEE’s mission is to prepare people worldwide to make informed and responsible choices as consumers, savers, investors, workers, citizens and participants in our global economy.

15. Financial Fitness for Life • CEE’s sixth Survey of the States 2009 shows that - • The number of states requiring students to take a personal finance course has risen from 1 in 1998 to 13 in 2009. • 44 states have content standards that include personal finance education – an increase from 21 in 1998.

16. Financial Fitness for Life • Teacher resources may be found at the companion website – http://fffl.councilforeconed.org/9-12 • Student workbooks & Teacher’s Guide books are available in hard copy • Complete workbooks are also available on Virtual Economics V4 CD

17. Financial Fitness for Life • Theme 1: The Economic Way of Thinking • Theme 2: Earning Income • Theme 3: Money Management • Theme 4: Spending and Credit • Theme 5: Savings and Investing • Format - • All content is introduced in a concise manner in both books • The majority of learning is through activities

18. Financial Fitness for Life • Work through Theme 3 – Money Management activities

19. Financing Your Future • Video #4 – “Get the Credit You Deserve” • “This video aims to demystify credit and debt, showing that smart credit decision-making can enable one to live a more fulfilling life. Key concepts such as calculating APR and understanding credit scores are discussed in detail.” • Watch video • Do activities from Part 4 & “Scams & Schemes” from FFFL

20. Hands On Banking • Developed by Wells Fargo as a free public service • Focused on “Money Skills for Life” • CD is interactive and allows users to choose content directed to their audience – Kids, Teens, Young Adults or Adults • CD comes in English and Spanish • Also available online at www.handsonbanking.org

21. Hands On Banking • Young Adults program deals with how to: • Use credit responsibly • Manage your own spending plan • Afford higher education • Search for a job • Learn the steps to become financially independent

22. Hands On Banking • Walk through CD section on Banking • Topic 1 – Basics of Banking Services – discuss selected activities • Handouts were printed from the Teacher Resources on the website

23. PERSONAL FINANCE LITERACY WORKSHOP • Take Post-test • TCEE Request Form - for teaching PFL, using pre & post tests & submitting data to TCEE for research that will support grants for future educational resources ($50 stipend) • TCEE Opportunities – online contests: • Personal Finance Challenge • Economic Challenge • $100 drawing for teachers who participate

24. PERSONAL FINANCE LITERACY WORKSHOP • Reflections – • Why should we teach PFL? • Why is this important – to you? • Have you benefitted from this workshop? • Are you more confident that you can implement successful PFL lessons with the resources you are receiving today? • Other thoughts & comments.

25. PERSONAL FINANCE LITERACY WORKSHOP THANK YOU FOR ATTENDING AND PARTICIPATING IN THIS WORKSHOP! ENJOY THE REST OF YOUR SUMMER!