Saving

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: , , , , , , , , , , , , , , ,

CEE Introduces New Online Personal Finance Games with Mobile and Social Integration for High School Students

Ask a parent or educator: what’s the most effective way to get your kids to pay attention to what you’re teaching? Chances are, they’ll tell you the best way to engage a generation of digital natives is through the technology they’ve grown up with. The Council for EconomicEducation, in collaboration with H&R Block Dollars & Sense, introduces Gen i: Murktide Invasion and Gen i: Beyond the Mission, two new interactive games in the free Gen i Revolution suite. Both new games, as well as the original Gen i Revolution, now incorporate Facebook functionality and are available for tablet play, making it possible for students to learn anytime, anywhere. All games are also accessible on a desktop computer.

“Students today are constantly plugged in, using mobile, digital and social media for nearly every aspect of their lives,” said Nan J. Morrison, chief executive officer and president of CEE. “Bringing Gen i Revolution to these new outlets is a fantastic way to increase students’ engagement with investing concepts, and help them recognize how savings and investing can impact the decisions they make every day.”

Available for play on the Web and as a Facebook application, Murktide Invasion is  CEE Introduces New Online Personal Finance Games with Mobile and Social Integration for High School Studentsdesigned primarily for students in grades nine to 12, although it can be enjoyed by users of all ages. The game challenges players to put their investing knowledge to the test, going head-to-head with the “Murktide,” a network of double agents spreading false information about finance across the country. Players must use strategic thinking to beat back the Murktide in key regions and win control of the U.S. map.

Mobile and Social Integration for High School Students Beyond the Mission is an interactive graphic novel that puts its players’ financial skills to the test through aseries of six missions. During each mission, the player must advise a contact on a financial matter, earning a badge if he or she gives sound advice. For each mission, there’s a story lineand a set of decision points. The player must make the best choice, based onadvice from two “shadowy” secret agent operatives, one of whom is a double agent working for the Murktide. The object of the game is to accomplish the mission and identify the double agent. Like Murktide Invasion, it is also available for play on the Web and as a Facebook application.

“Murktide Invasion and Beyond the Mission represent the future of personal finance education: real-world lessons on innovative platforms that young people enjoy,” said Scott Gamm, family finance advisor for H&R Block Dollars & Sense. “When you’re just starting to learn financial concepts, it can feel overwhelming. The new games are a fun and memorable way to bring important topics to life.”

As students become more skillful players, they learn about saving and investment strategies, increasing their real-world understanding of these concepts. Social media connectivity in Murktide Invasion, Beyond the Mission and Gen i Revolution encourages players to share their success. For example, students who successfully complete a challenge can post an award badge to their Facebook wall. And with the Gen i Revolution suite’s tablet compatibility, it’s easy for on-the-go teens to squeeze playing time into their busy schedules.

 CEE Introduces New Online Personal Finance Games with Mobile and Social Integration for High School Students“Our teachers are looking forward to using the games with their classes,” said William C. Wood, professor of economics at James Madison University (JMU), who previewed the games at JMU’s summer personal finance institute for teachers. “Beyond the Mission takes students quickly into the role of the secret operatives who help people make good decisions on personal finance and consumer economics. Murktide Invasion has great content in personal finance, and it dresses it up in the form of a strategy game that motivates students to test their skills against a computerized opponent.”

For teachers looking to incorporate Gen i Revolution into the classroom, CEE also offers a companion guide, Learning, Earning and Investing, with lessons aligned with the Common Core State Standards.

Visit www.genirevolution.org to play the full suite of games on a desktop computer or tablet device.

Visit www.facebook.com/genirevolution to play Gen i Revolution and the mini-games Murktide Invasion and Beyond the Mission on Facebook.

The full suite of Gen i Revolution games is funded in part by H&R Block Dollars & Sense, an educational cause initiative helping to increase teens’ financial literacy through donated personal finance curricula, scholarships, education resources and tips on personal finance best practices.

About the Council for Economic Education

The Council for Economic Education is the leading organization in the United States that focuses on the economic and financial education of students from kindergarten through high school. CEE trains educators to teach young people the fourth “R”—a real-world understanding of economics and personal finance—so that they will be able to make informed and responsible choices throughout their lives as consumers, savers, investors, citizens and participants in the global economy. Each year CEE’s programs reach more than 55,000 teachers and approximately 5 million students.

For more information visit www.councilforeconed.org.

Like CEE on Facebook at www.facebook.com/councilforeconed.

Follow CEE on Twitter at www.twitter.com/council4econed.

About H&R Block Dollars & Sense

Funded by H&R Block Inc., one of the world’s largest tax services providers, H&R Block Dollars & Sense provides personal finance curriculum to high schools and scholarships to students nationwide. Since 2009, H&R Block Dollars & Sense has donated more than $3 million in grants and scholarships. For more information, visit hrblockdollarsandsense.com.

POSTED: January 9, 2014 | BY: Morgan Hoey | TAGS: , , , ,

Gen i Revolution Online Games Now Optimized for the iPad and Other Tablet Devices

gen i revolution tablet featured Gen i Revolution Online Games Now Optimized for the iPad and Other Tablet Devices

If you or your students have played our online investing game Gen i Revolution, or the two newest additions to the suite, Beyond the Mission and Murktide Invasion, you know how much fun and engaging they can be. Now, in collaboration with H&R Block Dollars & Sense, we’ve optimized the original Gen i Revolution for tablet devices, and made it available to play on Facebook–meaning you can play the entire Gen i Revolution suite of games anytime and anywhere!

These interactive games are using social and digital media to teach students about saving and investing. With Facebook integration and tablet compatibility, the online games, designed for grades 9-12, make it easier than ever for students to engage with personal finance concepts a beyond the classroom.

Visit www.genirevolution.org to play the full suite of games. Or play on Facebook at  www.facebook.com/genirevolution.

POSTED: January 9, 2014 | BY: Morgan Hoey | TAGS: , , , ,

CEE in the News: Hobson, Krawcheck and Finerman on the Economy

On Wednesday, the Council for Economic Education hosted “Vantage Point: Economic Perspectives from Wall Street Women,” featuring moderator Karen Finerman, CEO, Metropolitan Capital Advisors, Inc. Contributor, CNBC’s “Fast Money”; with panelists Mellody Hobson President, Ariel Investments Chairman, DreamWorks Animation SKG, Inc.; and Sallie Krawcheck, who recently acquired 85 Broads.

The women spoke to more than 100 other female, and some male, guests at the Harvard Club in New York City. Tackling tough questions from Finerman, Hobson and Krawcheck gave their opinions on everything from the European financial crises, to housing and the spending patterns of Gen X and Millennials.

The Wall Street Journal covered the event in this piece, highlighting the panelists’ opinions on the young generations and their savings habit.

“Ms. Hobson, speaking Wednesday at a panel hosted by the Council, said the cautionary tale of the downturn — as well as longer lives and careers — underscore the need for economic and financial literacy among young people.

Millennials are “the second-most conservative group of investors, right behind their grandparents,” said panelist Sallie Krawcheck, former president of global wealth and investment management for Bank of America Corp. The fact that young workers today likely will be retiring at an older age than their parents and grandparents means “we need a structural rethink” of how to save for that retirement, Ms. Krawcheck said.”

Learn more about the discussion and read the full story here.

Hobson Krawcheck Finerman on the Economy CEE in the News: Hobson, Krawcheck and Finerman on the Economy

Karen Finerman with panelists Sallie Krawcheck and Mellody Hobson; Nan J. Morrison at the podium.

POSTED: May 23, 2013 | BY: Leslie Rasimas | TAGS: , , , , ,

GISS It: Financial Life Skills Can Help Our Children and Our Society

Nancy Phillips 240x300 GISS It: Financial Life Skills Can Help Our Children and Our SocietyBy 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…

POSTED: April 23, 2013 | BY: Leslie Rasimas | TAGS: , , , , , , , , , ,

Seven Things Every College Student Should Know About Personal Finance

Christian Ackmann 218x300 Seven Things Every College Student Should Know About Personal FinanceBy Christian Ackmann, Economics concentrator at Brown University; Winner of the 2012 National Personal Finance Challenge.

You would be surprised to know the number of college students who don’t know how build their credit history, view their account balances, or even write a check.  College is usually the first time that students acquire independence, yet some students remain dependent on their parents’ financial support and advice.  Proper financial education in high school is necessary to gain financial independence in college.  During my first year of college, I have seen many financial mistakes made by my fellow students.  Here are some of the things I believe every college student should know about personal finance to make intelligent financial decisions.

1.  Credit
When I asked my fellow classmates which financial topics they wished they knew more about, the unanimous answer was credit.  For many college students, credit cards are a thing of mystery.  They are magical pieces of plastic that somehow pay for pizza and gasoline using money from their parents.  The first step to establishing a solid credit history is understanding how credit works.  Once students understand the importance of credit, it can be very helpful to have a credit card in the student’s name (not the parent’s name) to encourage responsibility.  Paying the credit card bill in full each month is an easy way to build a good credit history, not to mention the perks that many cards offer, such as cash back or air miles (which are especially applicable to college students living away from home). Read more…

POSTED: April 20, 2013 | BY: Leslie Rasimas | TAGS: , , , , , , , , , , , , ,

Resources

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