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…
By David Nelms, Chairman & CEO of Discover Financial Services
Financial education in school, coupled with regular money discussions at home, is necessary to help students become knowledgeable about money, establish good financial habits and avoid the economic pitfalls that can derail them from achieving their goals. As parents, teachers and community and business leaders, we are accountable for providing young people with access to academic instruction and life skills training. When we fail to do so, we deprive them of the knowledge they need to make good financial decisions that have lasting implications to their futures. Read more…
We’re broadcasting live from Tisch WNET Studios at Lincoln Center for the 13th Annual National Economics Challenge!
Watch the Quiz Bowl Finals in the David Ricardo and Adam Smith Divisions.
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Follow the Council for Economic Education on Twitter @council4econed. Get in on the action by using the hashtag #CEE to root for your team and share your thoughts as the quiz bowl unfolds.
VOTE FOR THE BEST TEAM VIDEO
Learn more about our amazing Finalist teams! Watch their video portraits that convey who they are as economics scholars, and vote once per day for your favorite video. The team with the most votes will receive a $100 Amazon gift certificate for their school and a $25 iTunes gift card for each student from the team.
Voting ends May 21 at 11:59 pm ET. Video contest has no influence on National Economics Challenge judging.
Cocktail Party Advice: Never an Economist and Always an Advocate for K-12 Personal Financial Education
By Andrew Hill, Economic Education Advisor at the Federal Reserve Bank of Philadelphia; and Adjunct Professor of Economics at Temple University.
Cocktail party conversation can often be difficult for even the most adept conversationalists among us. When meeting new people, an unavoidable topic is always what you do for a living. I was trained in graduate school to expect people to respond in unpredictable ways when I explain that I am an economist. Read more…
Kudos to CEE for devoting their blog space this month to many different voices making the case for financial education. I share the dilemma of every end-of-program speaker struggling to find something new to say. So, in these waning days of Financial Literacy Month, let me offer a few additional thoughts in support of school-based financial education for grades K-12.
Research has shown that the largest single determinant of money attitudes in teenagers and young adults is their parents, and the home environment in which they grow up. But, that influence can be positive or negative. If we treat financial education as solely the responsibility of parents, then we admit that young people will not start their adult lives on a level playing field. Read more…
By Nancy Phillips, BS, EMBA, Author and Speaker; Founder & President, DollarSmartKids Enterprises, Inc.; Creator of the Zela Wela Kids. Nancy is the mother of two elementary school-aged children.
As parents, we are automatic educators, and we want our children to learn the skills they’ll need to thrive and reach their full potential in life. This is true for parents around the world. With the financial industry and global culture changing as rapidly as they are today, it’s easy to see that our children need guidance; current, effective, honest information, that has their best interest and future well-being at heart.
The Lessons Must Have These Key Elements
These core financial life lessons must involve a combination of information, beginning with inspirational and motivational messages, so children understand how the information can affect their individual lives. The messages must also be simple, and effective – so the lessons are implemented and become habit. Beneficial learning only occurs if the new information is implemented, thus creating positive decision-making skills and behavior. Read more…