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CEE In The News: Expert Stresses Need for Kids to be Taught Personal Finance

In this article CEE’s President and CEO Nan Morrison stresses the need
for children to receive proper financial education at school. Studies
have shown that many children learn about personal finance from their
parents,  yet many parents are not properly equipped to to teach their
children.

The 2014 Survey of the States found that very few states require
courses in personal finance. Morrison calls upon parents to speak with
teachers and principals about financial education in the curriculum
and to learn about money with their children.

POSTED: April 16, 2014 | BY: Morgan Hoey | TAGS: , , ,

Financial Literacy within Our Communities

April 16 240x300 Financial Literacy within Our Communities By Carolyn Berkowitz, Managing VP of Community Affairs at Capital One; President of the Capital One Foundation.

Today, young people are facing challenges no other generation has faced as they become adults and adapt to an ever changing world. The great recession has left us a job market and economy that are still rebounding, while the cost of college and living are higher than ever. If our children are to grow up to be productive, independent and fulfilled, it is imperative they understand the principles of money management — how to use money wisely, how to save it and how to make it work for them.

Research shows that millennials feel strained when it comes to personal finances. In fact, earlier this year, FINRA released a survey that shows 36% of 18 to 24 year olds have student loan debt and 55% of them fear they won’t be able to pay down their loans. Only one third of respondents have emergency savings, 31% have unpaid medical bills and nearly half carry a balance on their credit cards. Read more…

POSTED: April 16, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , ,

CEE In The News: Financial Education For Kindergartners

A CNBC article discusses President Obama’s recent proclaimation that April is National Financial Capability Month and his reestablishment of the Advisory Council on Financial Capability for Young Americans. The spotlight is on financial literacy, however it is not taught in most schools.

The 2014 Survey of the States found that few schools in the nation required courses in personal finance and even fewer required students to be tested on the concepts. The president’s advisory council aims to make vast improvements to financial education across the nation.

POSTED: April 15, 2014 | BY: Morgan Hoey | TAGS: , , ,

Advocating Financial Literacy

April 15 199x300 Advocating Financial LiteracyBy Congressman Ruben Hinojosa, 15th District of Texas

I am proud to be Co-Chair and Co-Founder of the Financial and Economic Literacy Caucus (FELC) in the U.S. House of Representatives. In 2005, former Congresswoman Judy Biggert and I joined forces to found the first Congressional caucus devoted to furthering financial literacy for all Americans. Over the years, FELC has supported legislation, hosted briefings, and engaged federal agencies on promoting financial literacy at all levels of policy. I am happy to have Congressman Steve Stivers of Ohio, as the new Co-Chair for our Caucus. We share a belief in the power of financial literacy to decrease inequality and increase financial stability and hope for one’s future. Read more…

POSTED: April 15, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , ,

The work of the President’s Advisory Council on Financial Capability for Young Americans

April 14 215x300 The work of the President’s Advisory Council on Financial Capability for Young Americans

By Beth Kobliner, Member of the President’s Advisory Council on Financial Capability for Young Americans; Author of the New York Times bestseller Get a Financial Life.

I certainly hope I’m wrong about this one.

But when results from the first PISA international test of financial literacy are released in July, I have a sneaking suspicion that the financial know-how of young Americans will be disappointingly low when stacked up against their peers around the world. But hey: If that turns out to be true, let’s not blame a bunch of 15-year-old kids (they’re the ones who took this Program for International Student Assessment test back in 2012). No, we grown-ups should be pointing the finger right back at ourselves. The fact is we are not adequately preparing our kids for a financial literacy test—or, more importantly, for the real-life tests to come as these young adults make their way in a complex financial world. Thanks to the CEE’s annual Survey of the States, we know that while four additional states now require students to study personal finance, that makes just 17 states total.

We can do better—and we will do better. Read more…

POSTED: April 14, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , ,

Meet the 2014 National Economics Challenge State Finalists

The 2014 National Economics Challenge is off to an exciting start, State Finalists have earned their titles this week. State Economics Challenge winners will advance to the National Semifinals, from which the top 4 scoring teams and their coach, in each division, win an all-expenses paid trip to New York City to compete in the National Finals. 

Check out the photos of the State Finalists here

ADAM SMITH DIVISION (AP, IB and honors students)
Grissom High School, Huntsville, AL
BASIS- Oro Valley, Oro Valley, AZ
Dos Pueblos High School, Goleta, CA
Boulder High School, Boulder, CO
Choate Rosemary Hall, Wallingford, CT
Nova High School, Davie, FL
Marist School, Atlanta, GA
Iolani School, Honolulu, HI
Meridian High School, Meridian, ID
Willowbrook High School, Villa Park, IL
Carmel High School, Carmel, IN
Iowa City West High School, IA
Shawnee Mission Northwest High School, Shawnee, KA
Mt. Hebron High, Ellicott City, MD
Lexington High School, Lexington, MA
International Academy-Okma campus, Bloomfield Hills, MI
St. Thomas Academy, Mendota Heights, MN
Ocean Springs High School, Ocean Springs, MS
St. Joseph Central High School, St. Joseph, MO
Bozeman High School, Bozeman, MT
Millard North, Omaha, NE
Bergen County Academies, Hackensack, NJ
Stuyvesant High School, New York, NY
Chapel Hill High School, Chapel Hil, NC
Fargo South High School, Fargo, ND
Upper Arlington High School, Upper Arlington, OH
Edmond North High School, Edmond, OK
Conestoga High School, Berwyn, PA
Lexington High School, Lexington, SC
McCallie School, Chattanooga, TN
Bellaire High School, Bellaire, TX
Chantilly High School, Chantilly, VA
St. George’s School, Spokane, WA
Brookfield Central High School, Brookfield WI

DAVID RICARDO DIVISION (single semester general economics students)
Spain Park High School, Hoover, AL
Seton Catholic Preparatory, Chandler, AZ
Homestead High School, Cupertino, CA
Monarch High School, Louisville, CO
Royal Palm Beach Community High School, Royal Palm Beach, FL
Starr’s Mill High School, Fayetteville, GA
Iolani School, Honolulu, HI
Grace High School, Grace, ID
Carmel High School, Carmel, IN
Iowa City West High School, Iowa City, IA
Gardner Edgerton High School, Gardner, KA
Mt. Hebron High, Ellicott City, MD
The Groton School, Groton, MA
Novi High School, Novi, MI
Little Falls Community High School, Little Falls, MN
Madison Central High School, Madison, MS
Hannibal Career and Technical Center, Hannibal, MO
Park High School, Livingston, MT
Bellevue East, Bellevue, NE
West-Windsor Plainsboro High School North, Plainsboro, NJ
Hunter College High School, New York, NY
North Carolina School of Science and Mathematics, Durham, NC
Jamestown High School, Jamestown, ND
Gahanna Lincoln High School, Gahanna, OH
Enterprise High School, Enterprise, OR
Souderton Area High School, Souderton, PA
Christian Academy of Myrtle Beach, Myrtle Beach, SC
Memphis University School, Memphis, TN
DeBakey High School, Houston, TX
Dominion High School, Sterling, VA
Tahoma High School, Covington, WA
Deadweight Winners / Germantown High School, Germantown, WI

Congratulations to the State Finalists, good luck in the next round!

POSTED: April 11, 2014 | BY: Morgan Hoey | TAGS:

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