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Financial Literacy in the Financial Capital of the World: Working Together to Educate New Yorkers

2013 flm breakfast 3 Financial Literacy in the Financial Capital of the World: Working Together to Educate New Yorkers

  CEE CEO Nan J. Morrison

On April 2nd, to kick off Financial Literacy Month, CEE held a breakfast at the New York Stock Exchange, “Financial Literacy in the Financial Capital of the World: Working Together to Educate New Yorkers”. Following welcome remarks by Steve Wheeler, Director, Archives, Corporate Giving and Education  at the NYSE, Ron Lieber of The New York Times moderated a panel discussion that covered a range of topics and questions, from whether students in New York are receiving the financial literacy education they need, to how government, corporation, non-profits and schools can work together to build financial literacy among students.

With unique perspectives from the government, private and academic sector, panelists Jonathan Mintz, Commissioner, NYC Department of Consumer Affairs, Gerald Rosenfeld, Chairman, Lazard, Ltd., and Dr. Michael Staten, Assistant Dean for Careers, Commerce and Industry, Norton School of Family and Consumer Sciences, The University of Arizona, and Director, Take Change America Institute had a thoughtful–and lively!–discussion.

One of the morning’s dominant themes was the need to teach students how to make smart decisions:

“The key to any good educational model is how you make the tough choices,” said Mintz, adding that it was critical to make students feel confident enough to ask the right questions.

Staten seconded that notion, noting that the financial educational sector has “stepped up its game” in this department: “There has been a shift toward recognizing that personal finance is all about making decisions.  Economics lays the foundations for these decisions, training [students] to make the decisions that are best for them.”

Rosenfeld raised another important point, noting the importance of providing students with the necessary vocabulary to navigate the financial and economic landscape.  Which means more than simply teaching the terms, but truly understanding a concept like “risk,” or “debt.”

In her closing remarks, CEE CEO and President Nan J. Morrison offered a nice summation of the panel discussion, asserting that financial literacy “is a language that people need to learn; and that language is a language of choice.”

2013 flm breakfast 1 Financial Literacy in the Financial Capital of the World: Working Together to Educate New Yorkers 2013 flm breakfast 2 Financial Literacy in the Financial Capital of the World: Working Together to Educate New Yorkers

Panelists Gerald Rosenfeld, Jonathan Mintz and Dr. Michael Staten

Attendees touring the NYSE

All photos by Ben Hider Photography.

POSTED: April 3, 2013 | BY: kwilliams | TAGS: , , , ,

Celebrating Financial Literacy Month

nan headshot Celebrating Financial Literacy MonthBy Nan J. Morrison, President & CEO, Council for Economic Education.

As all of you know, April is no longer “the cruelest month”; it is now financial literacy month!

All of us at CEE are enthusiastic about our plans to celebrate the progress being made in financial and economic literacy and the chance to involve all of you.

First and foremost, we are launching our new National Standards for Financial Literacy, providing a toolkit for educators in creating a solid curriculum for all of our students. By giving financial and economic education equal status with other subjects (math, science, languages), we will increase both state and national will and resources to this mission.

In addition, throughout the month of April, we will share the perspectives here of some of our nation’s most important financial, corporate, and political leaders on the need for and importance of financial and economic literacy. Look out for essays from great guest bloggers, such as:

Lori Berkes-Nelson, President, Econ Illinois
Lynn Fitch, Mississippi State Treasurer
Congressman Rubén Hinojosa, TX-15
JD Hoye, President, National Academy Foundation
Max Isenberg, freshman at the University of Pennsylvania and former National Economics Challenge finalist
Dan Kadlec, journalist
Jeff Lacker, President of the Federal Reserve Bank of Richmond and CEE Board Member
David H. Lillard, Jr., Tennessee State Treasurer
Barbara O’Neill, Extension Specialist in Financial Resource Management, Rutgers Cooperative Extension
Brian Page, 2011 Ohio Department of Education Milken National Educator Recipient
Mike Periu, President, Proximo, Inc. and CEE Board Member
Amy Rosen, President & CEO, Network for Teaching Entrepreneurship
Joan Rosenbaum, 5th grade teacher

And more!

Check out this link to see the events that we will be sponsoring for April as well.

At the end of the month, I will share my thoughts on these experiences. And I hope that you will share some of your experiences with us here.

We know that financial literacy changes the way people see the world and their roles in it. Together, we can make a difference.

Nan J. Morrison
President & CEO
Council for Economic Education

POSTED: April 1, 2013 | BY: admin | TAGS: , , , , , ,

CEE in the News: Why We Need to Teach Financial Literacy in Schools

Suzanne McGee of The Fiscal Times is a proponent of financial literacy education, both at home and in our schools. After a media luncheon with Nan J. Morrison, CEE president & CEO, McGee followed up with her blog post on what she learned from teaching “Wall Street 101,” and how we can do better for our nation’s youth.

“It isn’t about giving kids rules, Morrison points out: Just telling them to save 10 percent of their income is about as useful as telling an overweight child to eat less and exercise more. What helps more is teaching that child to make healthy choices and discover the rewards of physical activity. Similarly, helping a child to become fiscally fit means giving them tools to make sensible decisions on a day-to-day basis, not just putting aside an arbitrary percentage of their income.”

You can read McGee’s full post on The Fiscal Times here.

POSTED: March 12, 2013 | BY: admin | TAGS: , , , , , ,

CEE’s CEO Featured in Education Update’s 2013 Women Shaping History

For the past 15 years, Education Update has honored women who achieve extraordinary things throughout their lives. As diverse as these women are, they have a shared value of education, and they care deeply about future generations.

Nan J. Morrison, CEE President & CEO, is one of Education Update’s 2013 Women Shaping History award winners.

Morrison speaks on her inspirations, career challenges and resolutions, accomplishments and future goals.

“I am working to help K-12 children acquire the skills to make informed decisions, think critically about what those decisions entail, and create their own paths to fruitful lives,” said Morrison.

You can read more about Nan J. Morrison and her work in the 2013 March/April issue of Education Update, page 11, available here.

Cover Education Update CEEs CEO Featured in Education Updates 2013 Women Shaping History

POSTED: March 8, 2013 | BY: admin | TAGS: ,

CEE in the News: How the DMV Could Drive Home Financial Literacy

Should we require our nation’s teenagers to pass a financial literacy quiz in order to get a license? Jean Chatzky proposed this question in her blog, and now Adam Levin has delved deeper into what this could mean for our country, and how we could begin to implement the requirement.

Weighing in on the issue are Nan J. Morrison, President & CEO of CEE, and Annamaria Lusardi, Denit Trust Distinguished Scholar in Economics and Accountancy, The George Washington University School of Business, and CEE Board Member.

“It is a low-cost, low-barrier option for getting a student interested, and they have an incentive to do so,” Nan J. Morrison says about the proposal.

Lusardi proposes that potential questions should address car ownership and insurance.

Read the full story here. Let us know what you think in the comments below.

POSTED: March 7, 2013 | BY: admin | TAGS: , , , ,

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