the importance of personal finance education
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MAKING THE CASE FOR PERSONAL FINANCE EDUCATION
A core aspect of civic literacy is an understanding of sound personal financial management. Our high unemployment and slow economic
growth is due in part, to the many Americans who made poorly informed financial decisions.
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Debt expansion $30K to $70K
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"I'm living so far beyond my income that we may almost be said to be living apart." - EE Cummings
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Satisfied?
A retirement plan?
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The amount that students owe quintupled between 2000 and 2011.
In 2010, for the first time ever, Americans' outstanding student loans exceeded their total credit card debt:
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“The financial preparedness of our nation’s youth is essential to their well-being and of vital importance to our economic future.”
- Ben Bernanke, Chairman of the Federal Reserve System
A national commitment
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“ As we recover from the worst economic crisis in generations, it is more important than ever to be knowledgeable about the
consequences of our financial decisions. … We recommit to improving financial literacy…”
President Barack Obama Presidential Proclamation – National Financial Literacy Month
March 31, 2011
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Teens are interested in learning more about personal finance
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CA Coalition survey
A moment of your time…
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CALIFORNIA JUMP$TART, PERSONAL FINANCE
STANDARDS & RESOURCES
A core aspect of civic literacy is an understanding of sound personal financial management. Our high unemployment and slow economic
growth is due in part, to the many Americans who made poorly informed financial decisions.
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Jump$tart State Coalitions By Region
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MISSION• A national coalition of organizations dedicated to improving the financial
literacy of pre-kindergarten through college-age youth by providing advocacy, research, standards and educational resources. Jump$tart strives to prepare youth for life-long successful financial decision-making.
VISION• Personal finance is included in the education of all students. Jump$tart
provides the collaboration needed to ensure this education. UNIQUE PROPOSITION• Jump$tart is a coalition of organizations, which share a commitment to
the financial education of youth. Working collaboratively, more resources and expertise are available to accomplish this task.
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CA Resources
National Coalition
Clearinghouse
Cajumpstart.org
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1. Financial Responsibility and
Decision Making
2. Income and Careers
3. Planning and Money
Management
4. Credit and Debt
5. Risk Management and
Insurance
6. Saving and Investing
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moneywiseteen.org
• Scarcity and Alternatives• Budget and Opportunity Cost• Credit and the Margin• Benefit/Cost Analysis• How and Why of Prices• Human Capital• Saving and Investing• Paying for College
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International, award-winning, web-based program
Animated modules illustrate economic principles through real-world situations
Questions and activities to learn by doing
Online training webinars: March 7 or March 14
4:30–6:00pm
moneywiseteen.org
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federalreserveeducation.org
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• 5 Tips Series• Bankers in the
Classroom• Building Wealth• Buried in Debt: The
Dangers of Borrowing• Your Credit Rights
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dallasfed.org
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Video chapter 4: A Tale of Two Spenders
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Money Smart for Young Adults is the FDIC’s financial education curriculum ages 12-20:
•Understand basic financial services,
•Develop money-management skills, and
•Learn how to use banking services effectively .
fdic.gov
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A NATIONAL ASSESSMENT
A core aspect of civic literacy is an understanding of sound personal financial management. Our high unemployment and slow economic
growth is due in part, to the many Americans who made poorly informed financial decisions.
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National Financial Capability Challenge March 12 through April 13, 2012
Quick
Easy
Rewarding
Any high school
educator can do it. challenge.treas.gov
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Highest participation:Pennsylvania
VirginiaNew Jersey
FloridaWisconsin
Highest average scores:Idaho
VermontSouth Dakota
OregonMaine
2011 NFCC CA National
Average score
66.12% 69%
# of tested students
1,801 84,372
# of students in top 20%
368 18,192
# of participating schools
52 1,691
# of other organizations
25 472
# of participating teachers
81 2,517
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YOUR PARTNERS IN THE EFFORT
A core aspect of civic literacy is an understanding of sound personal financial management. Our high unemployment and slow economic
growth is due in part, to the many Americans who made poorly informed financial decisions.
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• Free
• Taught by CalCPA volunteers
• Schedule one lesson, or all seven
• Interactive
• Highly flexible
• Fun
• Conforms to a class period
• Students receive a NEFE HSFPP
guide and a copy of Quest
Magazine
Schedule a visit today!
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The amazing power of compounding; the
easiest path to financial security.
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Guest speakers: Kathleen Pender, SF Chronicle and John Hope Bryant, CEO Operation HopeExhibits, curriculum speed dating, best practices and success stories
Financial Smarts for Teachers and CalCPA in your classroomContinental breakfast, networking lunch, prize drawings , free parking
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California and Nevada Youth Involvement Network (CNYIN)
CNYIN is partnering with
California Jump$tart
and the National
Endowment for Financial
Education (NEFE)
to increase youth
educational classroom
presentations. Contact
your local credit union for
more information.
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jasocal.org
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Banking on Our Future
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Partners in personal financial education for California’s youth
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Rebecca Gallagherboard member, California Jump$tart Coalition
education specialist, Sonoma County Office of Education