By Jeff Atwater, Chief Financial Officer, Florida Department of Financial Services.

As I reflect on today’s economy, I can’t help but think about how dramatically the cost of living has changed in the past 20 years.  In the 1990s, we were paying roughly $2.15 for a gallon of milk and $1.09 for a gallon of gas.  Within the last couple of decades, the cost of these items and many other daily staples has dramatically increased.

Our national leaders are struggling to balance the nation’s budget, just as many Americans struggle to balance their household budgets.  We live in an economic time when money is short and everyone is trying to find a way to do more with less. Read more…

POSTED: April 19, 2013 | BY: Leslie Rasimas | TAGS: Economy, Financial Literacy, financial literacy month, leadership, personal finance, Survey of the States

First Financial Federal Credit Union features CEE’s new National Standards for Financial Literacy on their site.

“In coming weeks and months, a new set of standards for financial literacy will cross the desks of educators across the country. The hope is that schools will embrace these guideposts and begin to wedge money lessons into students’ daily activities.

The Council for Economic Education, a nonprofit promoting financial education, developed the new standards at the request of and with input from educators at all levels. “We have a specific plan to go state by state and get these implemented,” says Nan Morrison, CEO of the council.”

Read the full story here.

POSTED: April 19, 2013 | BY: Leslie Rasimas | TAGS: CEO, Financial Literacy, National Standards for Financial Literacy, partners, personal finance, Students, teachers

By JD Hoye, President, National Academy Foundation.

Balancing a checkbook, creating and sticking to a budget, and setting up a savings account — these skills are vital, and with Financial Literacy Month upon us, it is crucial that we think about how not to just make the time to teach these skills, but reflect on how to do it in a way that engages students beyond the theoretical. Read more…

POSTED: April 19, 2013 | BY: Leslie Rasimas | TAGS: Financial Literacy, financial literacy month, partners, personal finance, school program, Students

Recognizing the importance of financial and economic knowledge, the PA state Senate has passed a resolution authored by Senator John R. Gordner (R-27) to designate April as “Financial Literacy Month” in Pennsylvania.

“Knowledge of finance is essential to ensure individuals are prepared to manage credit and debt, invest, and become responsible workers, business leaders and entrepreneurs,” said Senator Gordner.  “A knowledge of finance has been linked to lower delinquency rates for borrowers, higher contributions to savings and retirement plans, and a higher net worth.”

Senate Resolution 92 encourages employers, schools, financial institutions and the media to provide opportunities for financial literacy education by collaborating with organizations such as EconomicsPennsylvania.

(L-R) Senator Gordner; Jennifer Dodge, Director of Governmental Relations, EconomicsPennsylvania; Fritz M. Heinemann, President, EconomicsPennsylvania; and Lieutenant Governor Jim Cawley present Senate Resolution 92.

 

POSTED: April 18, 2013 | BY: Leslie Rasimas | TAGS: Councils & Centers, Financial Literacy, financial literacy month, Government, partners, personal finance

The Alabama Personal Finance Challenge, sponsored by the Alabama Council on Economic Education (ACEE), tests high school students on their knowledge of income, money management, spending and credit, saving and investing. Nineteen schools will participate in the challenge on April 23 at the University of Alabama.

“There are so many people who are totally unprepared for a financial crisis,” said Wanda McAbee, ACEE’s program director. “We want to use this competition as a vehicle to take what the students are learning inside the four walls of a classroom and apply it to the real world. We want to encourage and show students how to take more responsibility for their financial lives.”

The top two teams will battle it out Quiz Bowl-style, and the winning team will go on to the national competition, sponsored by the Council for Economic Education and Wells Fargo.

Read the full story here.

POSTED: April 18, 2013 | BY: Leslie Rasimas | TAGS: 9-12, Councils & Centers, personal finance, Personal Finance Challenge, Quiz, Students

By Scott Wolla, Senior Economic Education Specialist, Federal Reserve Bank of St.Louis.

In a general sense, to be “literate” is to have knowledge or skill in a particular field. So literacy in reading, for instance, involves developing the skill of reading. If you are literate in this sense, you can read a novel by Charles Dickens, your local newspaper, or a comic book. But it does not usually involve the student memorizing facts about reading, such as how many books the typical child reads (or should read) in a given year. While those facts might have value, they probably have little value for learners. Read more…

POSTED: April 18, 2013 | BY: Leslie Rasimas | TAGS: economics, Federal Reserve, Financial Literacy, financial literacy month, macro, micro, National Standards for Financial Literacy, personal finance