Survey of the States

CEE in the News: Leading the Way in Teaching Children About Personal Finance

The Philadelphia Inquirer recently highlighted top organizations that are leading the way when it comes to teaching our nation’s children about personal finance, despite the experts that imply the country is not doing a good job teaching financial literacy skills.

CEE, The Federal Reserve Bank of Philadelphia and the President’s Advisory Council on Financial Capability’s Money as Your Grow website were highlighted for their proactive approaches to improving financial literacy among the youth.

Read the full article here.

POSTED: May 29, 2013 | BY: Leslie Rasimas | TAGS: , , , , , ,

The Importance of Financial Literacy

jeff atwater The Importance of Financial LiteracyBy Jeff Atwater, Chief Financial Officer, Florida Department of Financial Services.

As I reflect on today’s economy, I can’t help but think about how dramatically the cost of living has changed in the past 20 years.  In the 1990s, we were paying roughly $2.15 for a gallon of milk and $1.09 for a gallon of gas.  Within the last couple of decades, the cost of these items and many other daily staples has dramatically increased.

Our national leaders are struggling to balance the nation’s budget, just as many Americans struggle to balance their household budgets.  We live in an economic time when money is short and everyone is trying to find a way to do more with less. Read more…

POSTED: April 19, 2013 | BY: Leslie Rasimas | TAGS: , , , , ,

Waiting for the Cavalry

Dan Kadlec 200x300 Waiting for the CavalryBy Dan Kadlec, author and journalist.

I’d like to think the cavalry is coming. But it isn’t—not quickly enough, anyway. For all the lip service to financial education and well-intentioned research surrounding what works best when it comes to teaching young people about money, much too little instruction is actually taking place. In plain view, the next generation is growing up as financially inept as the last.

Financial illiteracy brought us the Great Recession. Individuals had taken on crushing credit card debt, renounced the concept of an emergency fund and inked mortgages that made no sense. Sure, bankers were complicit. But that’s all the more reason to get serious about raising the public’s financial I.Q. Read more…

POSTED: April 10, 2013 | BY: Leslie Rasimas | TAGS: , , , , , ,

We can do better than this. Our children need financial literacy.

Lynn Fitch We can do better than this. Our children need financial literacy.By State Treasurer of Mississippi Lynn Fitch.

On my way to make a speech recently, I made a quick stop at a local convenience store to grab a diet coke.  “That will be $2.28,” the young girl smiled.  As I handed her three $1 bills, the cash register chirped and the drawer popped open.  She reached for my change. “Oh wait,” I said, “I have three pennies.”  Her pleasant smile quickly faded and was replaced with a blank stare into the cash drawer. “Um…..hmmm…..uh…..so…..I’m not sure what to do,” she said in a confused, sheepish tone.

It’s unfortunate that many of our young people can’t count change or do the math.  We must give them the financial skill set and tools to succeed in life so they don’t have to learn the hard way.  We must create financial freedom for our children. Read more…

POSTED: April 4, 2013 | BY: Leslie Rasimas | 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: Leslie Rasimas | TAGS: , , , , , ,

Annamaria Lusardi Honored with William E. Odom Visionary Leadership Award

Dr. Annamaria Lusardi, Denit Trust Distinguished Scholar in Economics and Accountancy at the George Washington University School of Business, and Director of the Financial Literacy Center, will be honored with the William E. Odom Visionary Leadership Award from the Jump$tart Coalition.

Lusardi is a CEE board member who has worked with us to promote economic education and financial literacy for all. She has participated on CEE panels including Financial Illiteracy: Educated Women Too? and Women and Financial Literacy: Evidence Across Countries. Lusardi provided guidance on the biennial Survey of the States and served on the Blue Ribbon panel for CEE’s soon-to-be-released National Financial Literacy Standards.

Congratulations to Dr. Lusardi for a well-deserved recognition. The William E. Odom Visionary Leadership Award, named for Bill Odom, the former chairman of Ford Motor Credit Corporation, recognizes individuals who have made substantial, groundbreaking contributions to the promotion of financial literacy among students across the United States.

POSTED: March 4, 2013 | BY: Leslie Rasimas | TAGS: , , ,

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