Hello followers! I know it's been a long while, but I'm back and here to stay...it's been a long time coming, that's for sure!
Today I thought I would share some information on a less-publicized topic...that of adult financial literacy. We so frequently talk about the financial literacy of youth and young adults as part of a formalized education program. However, adult financial literacy is equally important. Because of our rapidly evolving economy and the introduction of new financial instruments and obstacles in the world today, adults equally need financial literacy education and growth tools simply to understand everything that is out there as well as to support the financial literacy of youth and young adults.
The Institution for Financial Literacy (https://financiallit.org/) is committed to providing standards and tools viable for the adult financial literacy movement. One of the Institute's major accomplishments has been the development of the National Standards for Adult Financial Literacy Education (TM).
For educators in the post-secondary environment, promoting adult financial literacy is a national imperative, especially seeing that so many adults today are underserved and lack even basic financial literacy skills to be successful at life itself. Since our nation's economy changed drastically over past several years, countless adults are returning to college to pursue new careers or simply to strengthen skills. Adding financial literacy education into the curriculum of post-secondary education programs is something colleges and universities today must undertake sooner rather than later.
In addition, adult financial literacy must be achieved in a "delivered as needed" environment. For example, when applying for a mortgage, applicants should have to go through a short financial literacy program on understanding mortgages, mortgage types, and knowing where to go should problems arise once a mortgage is undertaken. As a business society, we all too readily accept that everyone must know about a process if they undertake that process. However, as we have seen in recent years, that has been proven tragically wrong.
Please share your views and ideas on adult financial literacy as a comment to this post! I look forward to seeing what other have to say about this movement in America today.
Showing posts with label financial literacy. Show all posts
Showing posts with label financial literacy. Show all posts
Thursday, August 15, 2013
Sunday, March 31, 2013
A cool financial literacy course for all ages!
I was sitting around the house relaxing on this Easter morning and checked out a great online financial literacy course offered by Wells Fargo. The best part about it...it has lessons for all ages, even young adults and adults! The resource is called Hands-On Banking (http://www.handsonbanking.org/).
Another great feature of this program is the pre- and post-tests available for the young adult and adult levels. In addition, you can report the results of these pre- and post-tests through the Hands-On Banking website to help compile results data on your students. I think this is a great feature!
Even better, this resource is completely FREE! There are shareable instructor guides, and much, much more! Check out this resource and let us know how you are using the materials with your students. With resources like this available, I expect to see some good results!
Another great feature of this program is the pre- and post-tests available for the young adult and adult levels. In addition, you can report the results of these pre- and post-tests through the Hands-On Banking website to help compile results data on your students. I think this is a great feature!
Even better, this resource is completely FREE! There are shareable instructor guides, and much, much more! Check out this resource and let us know how you are using the materials with your students. With resources like this available, I expect to see some good results!
Saturday, March 2, 2013
Thoughts on financial literacy as a graduation requirement...
I want to take this opportunity to share my belief in financial literacy as a requirement for graduation from high school.
As one of the most valuable content areas a student can learn in high school (Thanks to Brian Page (@FinEdChat) for this paraphrased statement!), why don't all states require financial literacy content as a graduation requirement? Does every student use history education 20 years after high school? Maybe if they are a contestant on Jeopardy! How about chemistry? A foreign language? While students may (and I emphasize may) use bits and pieces of traditional content areas later in life, EVERY student will use financial literacy concepts over and over again throughout their life.
Make a stand! Join professional associations and private interest groups in getting financial literacy content in front of every student in every state and taught by qualified educators. Contact your state board of education. Write to legislators. What ever it takes, we must do a better job in this country of preparing young people for effective financial decision-making. Without financial literacy education, we have failed as an educational system of preparing students for real life.
Share your thoughts on making financial literacy education a graduation requirement. Tweet me @MCWhiteOH today! I look forward to your thoughts and views on this very timely and important educational issue.
As one of the most valuable content areas a student can learn in high school (Thanks to Brian Page (@FinEdChat) for this paraphrased statement!), why don't all states require financial literacy content as a graduation requirement? Does every student use history education 20 years after high school? Maybe if they are a contestant on Jeopardy! How about chemistry? A foreign language? While students may (and I emphasize may) use bits and pieces of traditional content areas later in life, EVERY student will use financial literacy concepts over and over again throughout their life.
Make a stand! Join professional associations and private interest groups in getting financial literacy content in front of every student in every state and taught by qualified educators. Contact your state board of education. Write to legislators. What ever it takes, we must do a better job in this country of preparing young people for effective financial decision-making. Without financial literacy education, we have failed as an educational system of preparing students for real life.
Share your thoughts on making financial literacy education a graduation requirement. Tweet me @MCWhiteOH today! I look forward to your thoughts and views on this very timely and important educational issue.
Monday, September 3, 2012
Create a lesson on saving while in college - a must as young people head off to college this fall!
Are your high school students financially ready to head off to college? Do they possess the knowledge and skills to save money that will help them through the next few years? Do they know the tricks needed to keep from going broke before they graduate? You can equip your students with a great deal of information that can benefit them for years to come, putting financial literacy first!
I was inspired to write today's post by an article on AOL Daily Finance entitled "Help Your Kids Save While They're Still in School" (Link: http://www.dailyfinance.com/2011/11/02/help-your-kids-save-while-theyre-still-in-school/). In this article, the author gives several helpful hints on how a college student can save incrementally and overcome several financial woes that can be thrown at him or her. I have put a few of these helpful hints together here to help spark some teaching ideas for personal finance educators:
Do you have additional college savings tips you share with your students? If so, share them here today so everyone can gain new ideas!
Are your high school students financially ready to head off to college? Do they possess the knowledge and skills to save money that will help them through the next few years? Do they know the tricks needed to keep from going broke before they graduate? You can equip your students with a great deal of information that can benefit them for years to come, putting financial literacy first!
I was inspired to write today's post by an article on AOL Daily Finance entitled "Help Your Kids Save While They're Still in School" (Link: http://www.dailyfinance.com/2011/11/02/help-your-kids-save-while-theyre-still-in-school/). In this article, the author gives several helpful hints on how a college student can save incrementally and overcome several financial woes that can be thrown at him or her. I have put a few of these helpful hints together here to help spark some teaching ideas for personal finance educators:
- Students need to open a savings account early and regular make contributions, even if only a few dollars
- Set short-term savings goals (i.e., How much would you like to have saved in six months? In one year?)
- While studying is important, students should take a part-time job where possible to help supplement their income and also allow them to regularly contribute to their savings
- Find other ways to earn a little extra money, like tutoring other students, giving lessons, or even selling all those unneeded items randomly collected on eBay
- Find ways to avoid the common money pitfalls. For example, instead of buying Starbucks every morning before class, buy an inexpensive coffee pot and make coffee in the dorm every morning - a student can save hundreds (if not thousands) of dollars a year just from this one tip!
- Set limits on spending. For examples, avoid overspending on clothes, shoes, or other such items - although it may feel like it, a young person does not need every dress, pair of shoes, sunglasses, or outfit that he or she just "absolutely loves" - impulse buying can drain one's savings very quickly
Do you have additional college savings tips you share with your students? If so, share them here today so everyone can gain new ideas!
Sunday, September 2, 2012
Financial literacy and politics - making a meaningful marriage!
Financial literacy education and politics have not always made a productive marriage. Educators and politicians often have differing views of what is and isn't important to our nation's children, especially in areas outside the common core of English language arts (reading and writing), mathematics, social studies, and science. Teachers of elective subjects, including personal finance, have been fighting this battle for several years now as they lobby for their state and for the federal government to recognize personal finance education as a required core learning component.
On Tuesday, September 4, 2012, in conjunction with the Council on Economic Education, politicians, educators, business professionals, and members of the larger community will come together in Charlotte, NC at the Democratic National Convention at a Financial Literacy Policy Luncheon to discuss which states are closing the gap in financial literacy and which states yet have a ways to go (Link: http://www.councilforeconed.org/events/financial-literacy-policy-luncheons/). A similar program took place at the Republican National Convention in Tampa, FL on Monday, August 27, 2012 as well.
Events such as this are critical to the success and future growth of financial literacy initiatives. All educators must lobby their state and U.S. representatives and senators to ensure the voice of financial literacy and personal finance education is heard loud and clear. Organizations such as the Council for Economic Education (http://www.councilforeconed.org/) and the National Business Education Association (http://www.nbea.org/), plus numerous other content area teaching professional organizations are investing tirelessly in ensuring that personal finance education becomes a required educational component for all American children.
I encourage each and every one of you to contact your representatives and urge their support on this national issue. Plus, if you happen to be in the Charlotte area on Tuesday, September 4th, register to attend the Financial Literacy Policy Luncheon. The more of us that push for political support of financial literacy and personal finance education, the greater chance we have to positively affect the lives of children for generations to come!
Financial literacy education and politics have not always made a productive marriage. Educators and politicians often have differing views of what is and isn't important to our nation's children, especially in areas outside the common core of English language arts (reading and writing), mathematics, social studies, and science. Teachers of elective subjects, including personal finance, have been fighting this battle for several years now as they lobby for their state and for the federal government to recognize personal finance education as a required core learning component.
On Tuesday, September 4, 2012, in conjunction with the Council on Economic Education, politicians, educators, business professionals, and members of the larger community will come together in Charlotte, NC at the Democratic National Convention at a Financial Literacy Policy Luncheon to discuss which states are closing the gap in financial literacy and which states yet have a ways to go (Link: http://www.councilforeconed.org/events/financial-literacy-policy-luncheons/). A similar program took place at the Republican National Convention in Tampa, FL on Monday, August 27, 2012 as well.
Events such as this are critical to the success and future growth of financial literacy initiatives. All educators must lobby their state and U.S. representatives and senators to ensure the voice of financial literacy and personal finance education is heard loud and clear. Organizations such as the Council for Economic Education (http://www.councilforeconed.org/) and the National Business Education Association (http://www.nbea.org/), plus numerous other content area teaching professional organizations are investing tirelessly in ensuring that personal finance education becomes a required educational component for all American children.
I encourage each and every one of you to contact your representatives and urge their support on this national issue. Plus, if you happen to be in the Charlotte area on Tuesday, September 4th, register to attend the Financial Literacy Policy Luncheon. The more of us that push for political support of financial literacy and personal finance education, the greater chance we have to positively affect the lives of children for generations to come!
Saturday, August 18, 2012
A conversation with teachers on personal finance education and the economy...
Recently, Federal Reserve Chairman Ben Bernanke conducted a Teacher Town Hall meeting where he met with approximately 60 teachers from around the nation who teach economics or personal finance. Here is a video recap of the town hall meeting:
As an educator, I believe such interactions with key political and government officials are of utmost importance if we are to ensure key educational programs receive the proper support and funding and lead to better educational outcomes for all Americans.
A special congratulations to Brian Page (@FinEdChat), a fellow blogger and financial literacy educator, who had the distinct honor of attending this town hall meeting and sitting just three seats from Chairman Bernanke to his left! Thank you, Brian, for representing Ohio and all financial literacy educators at this important event.
Stay tuned to Personal Finance and Social Media in Education as we embark on a new school year! I am committed to bringing my followers another year of news, tips, ideas, and professional development opportunities.
Recently, Federal Reserve Chairman Ben Bernanke conducted a Teacher Town Hall meeting where he met with approximately 60 teachers from around the nation who teach economics or personal finance. Here is a video recap of the town hall meeting:
A special congratulations to Brian Page (@FinEdChat), a fellow blogger and financial literacy educator, who had the distinct honor of attending this town hall meeting and sitting just three seats from Chairman Bernanke to his left! Thank you, Brian, for representing Ohio and all financial literacy educators at this important event.
Stay tuned to Personal Finance and Social Media in Education as we embark on a new school year! I am committed to bringing my followers another year of news, tips, ideas, and professional development opportunities.
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