The Economics Center at the University of Cincinnati is celebrating Financial Literacy Month with a photo contest!

Please WEAR GREEN and encourage your colleagues, teachers, students and friends to join you. Post a picture on their Facebook Page and the photo with the most “LIKES” will win $50 Visa Gift Card. The winner will be announced on Tuesday, April 30.

Contest Details:
•    Submit Photos through Friday, April 26.
•    A gallery of photos will posted on the Center’s Facebook Page on Friday.
•    Vote for your favorite photo Friday, April 26 – Monday, April 29.
•    Winner will be announced on Tuesday, April 30!

Good luck, and thanks for supporting Financial Literacy Month!

POSTED: April 24, 2013 | BY: Leslie Rasimas | TAGS: Contest, Councils & Centers, Financial Literacy, financial literacy month, Students, teachers

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…

POSTED: April 23, 2013 | BY: Leslie Rasimas | TAGS: children, Financial Literacy, financial literacy month, give, invest, parents, personal finance, save, Saving, spend, Students

Live Webinar: The Nation’s Report Card: Economics 2012, Grade 12
April 24, 2013, at 11 am EDT

Register here (we encourage you to submit a question in advance through the registration page). Join the conversation on Twitter by using #NAEPtalk during the webinar.

Nan J. Morrison, President and CEO of CEE, was an adviser on the project, and she will take part in the webinar.

Are American students equipped to negotiate economic realities?

With constant changes in the housing, job, and stock markets, not to mention international trade, American students more than ever need to know how our economy connects with the world around us. As tomorrow’s consumers, investors, and voters, are students equipped to interpret financial news, make decisions about negotiating a college loan, and understand how economic policies affect their wallets?

The Nation’s Report Card: Economics 2012, Grade 12 reveals how well 12th-grade students know and apply the concepts of microeconomics, macroeconomics, and international trade in real-world contexts, as measured by the National Assessment of Educational Progress (NAEP).

Join the National Assessment Governing Board for a webinar exploring the results of this timely report. Webinar panelists include Nan J. Morrison, CEE’s President and CEO; and Edward Alvarez, Assistant Principal, Thomas A. Edison Career & Technical Education High School, who was honored at the 2012 Visionary Awards as one of CEE’s Teacher Champions.

POSTED: April 22, 2013 | BY: Leslie Rasimas | TAGS: 9-12, CEO, economics, Panel Discussion, Research, Students, visionary awards, webinar

From Education Week: Financial Literacy Standards Rolled Out for K-12

Recognizing the need for kids to be smarter about how they manage their money, the Council on Economic Education released the National Standards for Financial Literacy for K-12 education.

Developed by economists, education specialists at Federal Reserve banks, and financial education researchers, the benchmarks are intended to provide a framework of essential knowledge that 4th, 8th, and 12th graders should master to be savvy financial consumers.

Read the full report here.

POSTED: April 20, 2013 | BY: Leslie Rasimas | TAGS: Federal Reserve, Financial Literacy, National Standards for Financial Literacy, personal finance, Students

By 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: College, credit, Credit Cards, currency exchange, Financial Aid, Financial Literacy, financial literacy month, online banking, parents, personal finance, Saving, Student Loans, Students, taxes

First Financial Federal Credit Union features CEE’s new National Standards for Financial Literacy on their site.

“In coming weeks and months, a new set of standards for financial literacy will cross the desks of educators across the country. The hope is that schools will embrace these guideposts and begin to wedge money lessons into students’ daily activities.

The Council for Economic Education, a nonprofit promoting financial education, developed the new standards at the request of and with input from educators at all levels. “We have a specific plan to go state by state and get these implemented,” says Nan Morrison, CEO of the council.”

Read the full story here.

POSTED: April 19, 2013 | BY: Leslie Rasimas | TAGS: CEO, Financial Literacy, National Standards for Financial Literacy, partners, personal finance, Students, teachers