By Tennessee State Treasurer David H. Lillard, Jr.

Everyone understands how important education is in our society today. In order to compete for jobs in a global economy, our young people must be well versed in communication, math and science skills.

But even that won’t be enough.

To be successful in their professional and personal lives, people need to be financially literate as well. Sadly, they very often aren’t.

Consider these statistics:

• According to a survey by the Employee Benefit Research Institute and Mathew Greenwald and Associates, two-thirds of American workers have saved less than $50,000 toward their retirement – and more than a quarter of them have saved less than $1,000.
• Another survey by Sallie Mae and Gallup indicated that 4-in-10 parents with children younger than 18 haven’t set aside money for college expenses.
• And according to a report by Moebs $ervices Inc., 87 percent of Americans don’t even balance their checkbooks. Read more…

POSTED: April 15, 2013 | BY: Leslie Rasimas | TAGS: Financial Literacy, financial literacy month, Government, personal finance, Research, Students, teachers, training

Kate O’Hagan, a 4th grade teacher in Brooklyn, NY, uses CEE’s ‘Classroom Mini-Economy’ to teach real-world lessons in her class.

The United Federation of Teachers wrote a great article about Kate and her class, “Although they’re having fun, these children at PS 97 in Brooklyn are learning the serious business of being a grown-up in the Classroom Mini-Economy project, which O’Hagan began this past September after taking a free professional development unit on it at the Council for Economic Education in Manhattan.” Read more…

POSTED: February 6, 2013 | BY: Leslie Rasimas | TAGS: economics, elementary, Financial Literacy, Lessons, personal finance, Professional Development, school program, Students, teachers, training

Capstone Course of Financial Literacy Framework Equips Students With Necessary Real-World Skills

For many years, Illinois has placed a high priority on the financial literacy of its students, as one of the first states to implement rigorous economic and personal finance standards. This semester, its largest city continues to raise the bar for school systems nationwide: Chicago Public Schools (CPS) introduces a dedicated personal finance course for 12th-graders with resources developed by the Council for Economic Education (CEE). Read more…

POSTED: January 14, 2013 | BY: Leslie Rasimas | TAGS: CEO, Chicago Public Schools, Councils & Centers, Financial Literacy, Gen i Revolution, Lessons, partners, personal finance, school program, Students, training

Rutgers Cooperative Extension and the New Jersey Coalition for Financial Education recently launched a website to provide financial education training for teachers and other professionals who deliver financial education programs.  The website can also be viewed by consumers who are interested in learning more about personal finance topics. Read more…

POSTED: December 3, 2012 | BY: Leslie Rasimas | TAGS: Financial Literacy, Lessons, personal finance, teachers, training

CEE has partnered with ING DIRECT Kids Foundation to pilot and release a personal finance after-school program, Never Too Young: Personal Finance for Young Learners, for elementary school students focusing on effective decision-making and the development of crucial life skills.

This financial literacy program, a complete curriculum designed specifically for after school/out of school, is structured as 12 units to be taught over the course of two to four months.  The program will help young students understand concepts such as the basics of banking and credit, the cost to run a family and the importance of cost-benefit analysis in making purchases.

First piloted in Wilmington, DE and St. Cloud, MN, in conjunction with the Delaware Council on Economic Education, the St. Cloud State University Center for Economic Education and the Boy Scouts of America, this financial literacy program can be brought directly to other communities throughout the United States.

Watch the video trailer of the program:

Watch the video of the pilot program to learn how to implement Never Too Young in your community.

Download the lesson manual

POSTED: October 18, 2012 | BY: Leslie Rasimas | TAGS: after-school, Financial Literacy, Lessons, partners, personal finance, school program, Students, training, video

Military & Money is a new free app from McGraw-Hill and Better Business Bureau to help service members and their families achieve and maintain financial freedom. The app includes training videos, articles and interactive tools to help manage credit cards and credit scores, pay off debt, create an effective budget and establish a savings plan.

According to the Department of Defense, military families list personal financial management as number two in their list of biggest sources of stress.  Military & Money is the first financial educational app that provides service members and their spouses with tools to make informed choices about budgeting, saving and debt while they’re on the go.

Features include tutorials, quick tips and an Action Center where users can set up budget and debt reduction plans and receive savings reminders each month. This app is designed for both iPhone and iPad.

POSTED: August 20, 2012 | BY: Leslie Rasimas | TAGS: Debt, Financial Literacy, Government, Military, parents, partners, personal finance, training, video