21st century financial literacy
TRANSCRIPT
21st Century Financial Literacy
PASE@Pace - New York City, July 28, 2015
SIFMA Foundation – [email protected]: 212-313-1350
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Mitchell Founder, Nantworks
In 1983, companies spent $100 million marketing to kids. Today (2007), they're spending nearly $17 billion annually. Marketing firms and advertisers are looking to a younger demographic, increasingly targeting tweens and even younger children. And these kids have huge control over the flow of parents' spending, statistics show — 8- to 12-year-olds spend $30 billion of their own money each year and influence another $150 billion of their parents' spending.
Christine Lagorio, “Resources: Marketing To Kids,” CBS, May 14, 2007
ALISA
What is a Bond?
What is a Mutual Fund?
What is a Stock?
What is Risk?
• P/E Ratio• Beta• 52 Week Range• High & Low• Open & Close
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INFLUENCE
INFLUENCE
INFLUENCE
“As important as reading and math and social studies and science are, I think today more than ever financial literacy has to be part of that. To continue to have a population that is relatively illiterate in these matters, I think has real negative consequences to our democracy.This is not a place where we just need to get a little better. We’ve got to get a lot better, and we’ve got to get better faster. You have to start young.
Arne Duncan, U.S. Secretary of Education
What I Learned from Financial Education
• Making financial goals• SMART Goal
• Accounting, Business Communications, Entrepreneurship, Business Law, Economics, Virtual Enterprise• Led to internships • Meeting various
professionals• College will lead to a greater
return
Hard and Soft SkillsSoft Skills
• Communication• Organization• Teamwork • Ethics
Hard Skills • Interview• Resume• Computer programs• Design
financial educationmakes me think
my future
how to prepare
college
internships, jobs, etc.
leads to more
opportunitiesexperience, knowledge, training
A Good Financial Path…
more experience, more exploring
job opportunities
graduate!
dream job!
secure and stable financial future
All American children must be equipped with the knowledge and skills necessary to make smart decisions about their finances. This is a basic right that must be integrated throughout children’s Pre-K-12 learning experience to assure that all youth in America have the tools necessary to make sound financial decisions that will allow them to pursue their dreams. Whatever their life’s aspirations, whether college bound, career ready or thinking entrepreneurially, this knowledge will enable our young people to compete in a global economy and enhance our nation’s economy.
President’s Advisory Council on Financial Capability for Young Americans, July 2015
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