Financial Literacy

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: , , , , , , , ,

Once is Not Enough—Together, Yes We Can

April 23 Once is Not Enough—Together, Yes We CanBy Helen Roberts, Clinical Professor in Economics at UIC and Director, UIC Center for Economic Education.

Practice Makes Perfect

How can our children learn the necessary skills and knowledge to be financially literate? Like reading and driving and other important life skills, one try, one course, one time is not enough to be proficient.

To learn to drive a car, students must learn the rules of the road. To drive their financial lives, students need to learn the rules of good financial life, such the importance of saving, budgeting, and protecting their money. Just as reading about driving is not enough, students need to practice as they go. Read more…

POSTED: April 23, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , , , , , , , ,

Financial Literacy: Its Importance in the (Woman’s) Future

April 22 150x150 Financial Literacy: Its Importance in the (Woman’s) Future

By Kathleen Brennan, 2013 Alfred P. Sloan Foundation Teaching Champion Award recipient.

It goes without saying that today’s females have career opportunities that weren’t available to them a century ago.  The statistics are impressive– according to the U.S. Bureau of Census, females make up 60% of college graduates and the Bureau of Labor Statistics reports that labor participation rates of females have increased from 32% in 1950 to about 57% in 2012. Women have come a long way. The good news is that women have made great strides in breaking the glass ceiling and closing the pay gap; the bad news is that they still lag well behind men in terms of financial literacy. Ignorance in financial matters is particularly concerning since women have unique financial challenges—while many women rely on their husbands “to handle the money”,  the reality is that 90% of women will be solely responsible for their finances at some point in their lives due to the death of a spouse or divorce (Gender Gap in Financial Literacy 2012). Clearly, a man cannot be a “financial plan”. Read more…

POSTED: April 22, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , , ,

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