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For Florida’s Students, Money Matters

It’s a sobering thought: Florida’s students are graduating high school without a good understanding of how to manage money.

mikebellheadshotfcee 300x225 For Floridas Students, Money Matters

Michael L. Bell, M.E.d., Executive Director of the Florida Council on Economic Education

The unfortunate truth is, nearly half of Florida’s graduating seniors lack comprehension of financial basics like credit scores, balancing checkbooks, paying back loans and avoiding bankruptcy. For each student who graduates prepared, another leaves school unready to meet financial challenges.

One of the reasons for this is lack of adequate financial education. A recent study by the Council for Economic Education found that students in states with a specific, required financial literacy course were more likely to save and pay off credit cards, and less likely to be compulsive buyers and make late payments.

Florida took a step in the right direction in 2013 by including financial literacy content in its education standards – but it didn’t go far enough.

While deliberating the bill that introduced some level of financial education to our students, lawmakers became alarmed by the growing trend of crushing personal debt incurred by high-school graduates. Research has shown this debt not only impairs their ability to find a job, but also their ability to keep one.

Fortunately, lawmakers did the right thing in that 2013 bill that required financial literacy for our high-school students. The Florida Department of Education also studied the cost of a one-semester, half-credit statewide course and found it to be very reasonable, as little as $140,000. And last month, the DOE finished updating our state’s education standards to prepare for a required financial literacy course.

So what’s left to do?

Lawmakers just need now to finish what they’ve started, by passing legislation to create that required course on financial literacy. We call it the Money Course. But Florida’s students – and businesses – may well call it a lifesaver when our graduating seniors hit campuses, offices and shops knowing how to keep and manage their money for a lifetime.

This article was originally written by Michael Bell and posted on the Pensacola News Journal July 26th 2014.

POSTED: July 31, 2014 | BY: admin | TAGS: , , , , , , , , , , , , , ,

CEE’s Free Car Shopper App Available

The Council for Economic Education is introducing their new Car Shopper App, now available on the Android App store for free! Teach students what it really means to purchase a car with Car Shopper. With this app, it’s easy for students to unlock the hidden costs of their dream car in order to see for themselves. Students will be able to compare what they thought the cost of a car was versus the actual cost, by seeing the app adding up gas prices and factoring in finance options.

Inside the app, students can pick the type of car they want while the app links to real and current prices of cars. After selecting their car, students then get to choose financing options for their purchase by toggling the amount of money they want to put down, the finance rate, and contract length. Next, gas prices are then factored in and tailored to your region for accuracy in pricing. By the end, the student is shown a breakdown of the car’s price, indicating the final total and the price per month.

Carshopper App1 182x300 CEE’s Free Car Shopper App Available

This visual representation will show students, first-hand, the cost-benefit analysis of buying their dream car. By taking them step-by-step through the process, this free app is able to show how the prices add up and how buying a car is something to be carefully calculated before making any purchase.

Written by GeorgiAnna Carbone-Wynne, a rising junior at Wake Forest University in Winston-Salem, North Carolina studying English and Communications. She is currently a marketing intern at the Council for Economic Education.

POSTED: July 22, 2014 | BY: admin | TAGS: , , , , , , , , , , , , , , , , , , , , , ,

Gen i Revolution goes mobile with two new mini games

CEE is pleased to introduce Gen i: Murktide Invasion and Gen i: Beyond the Mission, two new interactive games based on Gen i Revolution, that tap into the power of social and digital media to teach your students about saving and investing.

Available online and as Facebook applications, Murktide Invasion and Beyond the Mission are designed for students in grades 6–12. The games challenge players to put their investing knowledge to the test in a series of questions, going head-to-head with the “Murktide,” a network of double agents spreading false information about finance across the country.

Are you ready to take on the Murktide?

Play on the Gen i Revolution website.

Play on Facebook.

Gen i: Murktide Invasion and Gen i: Beyond the Mission were made possible by generous funding from H&R Block Dollars & Sense, which works to increase teens’ financial fitness nationwide.

gen i blog banner Gen i Revolution goes mobile with two new mini games

POSTED: June 18, 2013 | BY: admin | TAGS: , , , , , ,

Washington State Econ Challenge Winners Receive Local Love

The four finalist teams in CEE’s National Economics Challenge face each other in the final round in a “quiz-bowl” format held in New York City, this year on May 19.  Each team must have previously won in its state and been one of the top four highest scoring teams at the National Semi-Finals competition in order to advance to the championship series.

This year’s third place winner in the David Ricardo Division was Olympia High School from Olympia, Washington.

The team, comprised of students Josh Borden, Marissa Grubbs, Luke Johnson and Laura Smit, with coach Brian LeTourneau, received a warm welcome when they returned home to Washington with their trophies. Read more…

POSTED: June 3, 2013 | BY: admin | TAGS: , , , , , ,

Econ Challenge Champs Receive Exciting Homecoming

Little Falls Community High School won for the second year in a row the National Championship title in the David Ricardo Division in the National Economics Challenge.

The winners, students Aaron Nilsen, Brian McNamara, Travis Spillum, and Eric Schmidt, and coach Tom Stockard, were welcomed home to Little Falls, Minnesota by a proud community and local press coverage.

“Little Falls represented Minnesota after winning first place in the state Economics Challenge competition, held April 7. It then advanced to the National Finals as one of the top four highest scoring teams at the National Semi-Finals competition, outpacing over 10,000 other students to win the all-expense paid trip to New York City.”

Read the full story here.

CEE wants to congratulate all of the winners at local, state and national levels. You can watch the National Championship Quiz Bowl here.

POSTED: May 22, 2013 | BY: admin | TAGS: , , , , , , ,

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