Financial Literacy Month

Helping Americans Build Financial Knowledge

April 30 Helping Americans Build Financial KnowledgeBy Richard G. Ketchum, CEO of Financial Industry Regulatory Authority (FINRA); Chairman of the FINRA Investor Education Foundation.

In the face of a rapidly evolving economy and financial marketplace, it’s vital that Americans have the tools and the knowledge to make good decisions about money. We at the FINRA Investor Education Foundation are committed to helping Americans build their financial knowledge. One of the ways we’re doing this is through the FINRA Foundation’s National Financial Capability Study (NFCS), which was most recently conducted in 2012. Read more…

POSTED: April 30, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , ,

The Risk of Financial Illiteracy

April 29 The Risk of Financial Illiteracy

By Neil Johanning, Treasurer for New York State PTA.

Background – Where we are, the issue of financial illiteracy

There is considerable evidence that financial illiteracy has reached record proportions. Financial illiteracy has contributed significantly to a lower standard of living in general for many Americans. Financial illiteracy can result in poor saving, poor spending, excessive credit card use, and bad investment decisions. The stress of financial insecurity in families can lead to divorce, suicide, domestic violence and other crimes. Read more…

POSTED: April 29, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , , ,

Is Your School Churning Out Best-Selling Engineers in Five Languages? Didn’t Think So.

April 28 Is Your School Churning Out Best Selling Engineers in Five Languages? Didn’t Think So.By Dan Kadlec, Author and Journalist.

In the era of Big Data, we can’t seem to tie our own shoes without first confirming the need through statistics. Yet some things are so big and so obvious we shouldn’t wait—like, say, stopping texting while driving or rebuilding our middle class.

Do we really need data to know that distracted drivers cause accidents? Isn’t it a given that a shrinking middle class is a drag on the economy? Financial education is like that too. Can anyone really argue against teaching money basics to kids who will come of age in a world with few financial safety nets? Read more…

POSTED: April 28, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , , , , ,

It’s Always More than Just the Numbers

April 26 It’s Always More than Just the NumbersBy Alvin Hall, Author; Financial Educator; President of Cooperhall; Contributor on NPR’s “Tell Me More with Michel Martin.”

Being comfortable with numbers—understanding arithmetic and simple mathematics—is core to financial literacy. Learning the language of finance—learning the right terms and phrases—is not enough.  Your understanding needs to incorporate the underlying concepts, which are largely numerical in nature.

Much of basic financial literacy is about understanding simple numerical concepts both practically and abstractly. Read more…

POSTED: April 26, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , ,

Investing in Personal Finance Today

April 25 Investing in Personal Finance Today

By Amy Rosen, President & CEO of Network for Teaching Entrepreneurship (NFTE).

There are many things we expect young people to learn.

To give them the best possible chance in a shrinking job market, we want students to focus on STEM subjects – science, technology, engineering and math. We also expect them to be good writers. Demonstrate good social skills and manners. And, dear to my heart, learn an entrepreneurial mindset of ambition, persistence and creativity. And on and on. Read more…

POSTED: April 25, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , , , ,

Effective Financial Literacy: From Quality Programming to Advocacy

April 24 150x150 Effective Financial Literacy: From Quality Programming to AdvocacyBy Oscar E. Cruz, President & CEO of Families in School.

Since 2000, Families In Schools (FIS) has provided information and resources to low-income and immigrant families on how to support their child’s education. Our work is driven by the belief that quality education continues to be the key to breaking the cycle of poverty and helping families reach their “American Dream.” A key component of our college awareness programs is helping families strengthen their financial habits to support their child’s college aspirations. In celebration of Financial Literacy Month, FIS would like to share key strategies we have found to be effective in working with low-income and immigrant communities regarding financial literacy: first, present financial literacy as a “tool” and not as the end goal; second, engage both students and their parents/guardians; and third, the methodology needs to be “asset-based.” Read more…

POSTED: April 24, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , ,

Resources

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