Making it Personal Financial Literacy Andrea Neff, National Sales Consultant http://www.youtube.com/watch?v=p1BnsjrAGH8 Don’t Buy Stuff You Cannot Afford 3 minute video http://www.youtube.com/watch?v=SRMJ0AFAoBY&feature=related

Session Outline Why teach Personal Financial Literacy? Personal Financial Literacy covers what topics? How to teach Personal Financial Literacy Use of Instructional Materials and Resources

Why Teach Personal Financial Literacy? “Financial literacy is essential…to the economic health of our nation…Ensuring that young people have the skills they need to make wise financial choices… will help us build a stronger…future…We also know that a lack of financial literacy is a major roadblock on the path of college access and success for too many students.” (Treasury Secretary Tim Geithner, September 2010.) What does this mean for your students? Why teach personal financial literacy? The last few years have really put personal financial literacy in the spotlight. The economy took a serious dip. Jobs became scarce. Foreclosures are at an all-time high. Credit is harder than ever to get. Many people are “upside down” in their debt, meaning they owe more each month than they bring home. This quote is from the Treasury press release on September 13, 2010. It addresses the very important idea that, along with reading, writing, math, science, and social studies, schools need to teach financial literacy. What does this mean for your students?

Teenage Spending The average teenager spends approximately $5,400 each year (National Endowment for Financial Education). Collectively, teenagers spend more than $172 billion annually – that’s billion! Today’s high school graduate will earn over $1 million in adulthood. Let’s take a closer look at teenage spending and see if our young people have the skills they need to make wise financial decisions.

When students go out on their own… Health Insurance Get Creditworthy Budget Online Invest Live Small car low salary high rent clothes furniture When you’re young, out on your own for the first time, it’s tough. Here’s why: starter jobs come with low salaries, and increasingly without health insurance, rents are high, and they have to deal with a lot of hidden expenses: deadbeat roommates, weddings, travel, safety deposits, and needing everything from furniture to clothing, to a car all at the same time. So, we are going to talk about some of the most important things that young people need to know to get started on the right foot. wedding

Should Your Teen Have a Credit Card? 1. If you put $1,000 on a credit card and only pay the minimum (2.5 percent) each month at a 21% interest rate, how long will it take you to pay it off? a. Five months b. Three years c. 16 years 2. If you put $1,000 on a credit card and only pay the minimum (2.5 percent) each month at a 21% interest rate, how much will you have paid in interest alone? a. $432 b. $1,000 c. $1,694 3. If you are late on a credit card payment, go over your credit limit or miss a payment, which of these are possible? a. You will not be able to rent an apartment. b. You will not get hired for a job. c. You will not be able to get a cell phone or a student loan. d. All of the above Suze Orman 1. If you put $1,000 on a credit card and only pay the minimum (2.5 percent) each month at a 21 percent interest rate, how long will it take you to pay it off? a. Five months b. Three years c. 16 years * 2. If you put $1,000 on a credit card and only pay the minimum (2.5 percent) each month at a 21 percent interest rate, how much will you have paid in interest alone? a. $432 b. $1,000 c. $1,694 * 3. If you are late on a credit card payment, go over your credit limit or miss a payment, which of these are possible? a. You will not be able to rent an apartment. b. You will not get hired for a job. c. You will not be able to get a cell phone or a student loan. d. All of the above *

Topics that need to be covered with our teens… Saving and Investing -How to research, buy, and sell investments Risk Management -Decision-Making skills Spending and Credit -Buying wisely, pitfalls of credit, overspending Understanding Income -Career planning, income sources, taxes, inflation, etc. Money Management -Personal financial planning, budgeting, checking accounts, and insurance

2009 Survey… Council for Economic Education - December 3, 2009 Here is a closer look at finance education in our nation’s schools. This is a Survey of the States 2009: Economic and Personal Finance Education in Our Nation's Schools Note the number of states with content standards for finance education -only 21 states had content standards in place in 1998…take a look at the jump in 2009, now 44 states have content standards established for finance education!!!! Council for Economic Education - December 3, 2009

Personal Finance Course Graduation Requirement Arkansas Georgia Idaho Illinois Louisiana Maryland New Jersey New York Oklahoma South Dakota Tennessee Utah Virginia These are the states that have made personal finance a graduation requirement…. New Mexico and Mississippi also are required to offer Personal Finance New Mexico and Mississippi – required to offer Personal Finance

Personal Financial Literacy Standards Jump$tart Coalition Standards for Personal Financial Literacy CORE COMPETENCIES: Financial Responsibility and Decision Making Income and Careers Planning and Money Management Credit and Debt Risk Management and Insurance Saving and Investing http://www.jumpstart.org/national-standards.html The Jump$start Coalition, a national consortium of corporate, non-profit, education, and government organizations dedicated to financial literacy, has put together its list of National Personal Financial Literacy Standards. Here are the core competencies. The U.S. Department of Ed is using these standards to drive financial literacy standards.

What topics should Personal Finance Curriculum cover? Income/Career Planning Financial Decisions and Planning Banking Credit Saving Investing Taxes This brings us to our next point of discussion—what topics should good personal finance education curriculum cover. No matter what the content standards of a given state are, these major topics have to be covered in a Personal Financial Literacy Course.

Grade Levels, Students, Course Length General Curriculum: 9th or 10th grade Business Elective: depends on district Students Basic Levels: 9th or 10th graders; are not necessarily ready to pursue business as a major Advanced Levels: 11th or 12th grade; may have already decided to pursue a business degree Course Length Semester-long Year-long This is how the typical student/grade level breakdown looks for financial literacy courses. If the course is part of the graduation requirement within the general curriculum, meaning that it is taught as part of the Social Studies or Life Sciences curriculum, it is generally taught in either 9th or 10th grade. If it is a business elective course, not necessary for graduation, the grade level of students will depend on the district. As a basic finance course, it will probably be taught in 9th or 10th grade. As a more advanced course, it would be taught in 11th or 12th grade. There may even be cases in which two business elective finance courses are offered, a basic and an advanced course. Depending on district needs and state standards, your course may be a semester-long or a year-long one.

Managing Your Personal Finances, 6e Our best-selling finance title Full year comprehensive approach 11th & 12th grades – for higher level business course Great for future business or finance majors In-depth exploration of finance topics from a business perspective Covers personal finance and life-long financial planning Most often used for business elective courses This is Managing Your Personal Finances. It is our best-selling finance book. It is a comprehensive text with over 700 pages of instruction. It is meant for a higher-level course and fits best within the 11th and 12th grade business elective slot. This is for your future business majors, students who already know that they want a career in accounting, finance, business management, etc. This book provides a business focus on personal financial planning, so if we think back on the differences between business focus and personal focus, this book is for students who are interested in how businesses manage finances. It also provides deep information on life-long financial planning, everything from banking and consumer purchases to serious coverage of saving, investing, building wealth, and estate planning. As you can tell, this book is intended to be used in the Business Education department; it is not meant for general curriculum courses.

Economic Education for Consumers, 4e Full year comprehensive approach Suitable for 9th & 10th grades – intended for lower level business course Provides broad coverage of personal finance topics Covers consumer spending and wise purchasing Provides a business and personal focus for finance topics Can be used as part of general curriculum, but is intended for a business elective class Another great option for a finance course is Economic Education for Consumers. This text is also a full-year approach. However, this is meant for students in the 9th or 10th grade, who are not necessarily planning to become business majors. It is a much less dense text, intended for most students. If Managing Your Personal Finances offers a very deep understanding of finance, Economic Education for Consumers offers a broad one. It covers a large number of personal finance topics and provides excellent instruction without the expectation of future MBAs. There is quite a bit of coverage of consumer spending and purchasing topics, as well as all the other finance topics, so this book is perfect for a course where both the personal and the business focus is needed. Because of this, Economic Education for Consumers is the perfect book for either a business elective course or a general curriculum course.

Personal Financial Literacy, 2e Suitable for one semester Intended for 9th and 10th grade students Meets the needs of Financial Literacy as a graduation requirement Intended for general curriculum Uses a personal focus on financial information Offers information on personal income, money management, spending, credit, and saving Finally, this is our newest personal finance text. It is completely unique because it was written specifically to meet the needs of a personal finance course that is part of the general graduation requirement. This is a one-semester course, intended for 9th or 10th grade students. There is no expectation of future business studies for these students. However, this book does an excellent job of preparing students for making smart decisions about money and developing good financial habits for life! Of course, this book uses a personal focus to teach everything from getting a job, career choices and income, spending, saving, building and using credit, investing, etc. The idea is to help students develop life-long understanding and comfort with financial decisions, really helping them understand the consequences of decision-making when it comes to their finances, for right now and for the future.

Text Title Course Length Grade Levels Covers Managing Your Personal Finances Ryan, 6e Full year 11 and 12 Personal finance Deep coverage of finance topics Life-long financial planning Intended as Business elective High achieving students Economic Education for Consumers Miller and Stanford, 4e 9 and 10 Consumer spending Broader coverage of finance topics Wise purchasing Money management Lower achieving students Popular with Family and Consumer Science teachers Personal Financial Literacy Ryan, 2e One semester Meets general ed. requirement Broad coverage of finance topics Personal focus Income, money management, spending and credit, saving Here’s an example of how some of our Personal Finance Texts are broken down by grade level and course length. These three texts align to the Jump Start coalitions standards in Personal Financial Literacy. The one we will be focusing on today is the third one that you see on my screen. Personal Financial Literacy. This text meets the general education requirement for personal finance.

Online Resources NEFE www.nefe.org NAF www.naf.org CEE www.ncee.net National Endowment for Financial Education NAF www.naf.org National Academy Foundations (of Finance) CEE www.ncee.net Council for Economic Education (national) NBEA www.nbea.org National Business Education Association

Many other online resources… http://moneycentral.msn.com/home.asp http://finance.yahoo.com/banking-budgeting www.bankrate.com www.federalreserveeducation.org www.ffltx.org www.feedthepig.org www.consumerjungle.org www.moneyskills.org www.practicalmoneyskills.com www.ffltx.org Foundation for Financial Literacy

Using Free Resources Who created the resource? What education credentials do they have? What is the main purpose of these websites? Is the content based on curriculum standards? Will it help you meet these for your state? Is there a scope and sequence? Will you have to create your own materials to teach this content? Do you have time to do this? We have just spent almost an hour talking about the importance of financial literacy, the fact that it’s information and skills that your students desperately need in order to succeed. But the reality is that many of you are facing budget crises and you are expected to gather your instructional materials from “free sources.” As I already said, I understand. However, before you do, please ask yourselves and your administration these questions.

Using Free Resources Is there any training or professional development available with this content? How will you assess students using the free resource? How will your students practice and apply this content? How will your students connect this content with other academic subjects (integrated curriculum)? After thinking about all of these questions, you may still decide to use some free online resources to supplement your finance instruction. However, I hope that you can really see the benefits of having instructionally sound textbooks written by experts especially for high school students, correlated to your state standards, written to teach, rather than to sell something, which provide all the assessment and support you and your students need. Ultimately, this may be a case of “you get what you pay for.”

Managing Your Personal Finances, 6e Instructional Resources Annotated Instructor’s Edition Student Activity Guide Student Printed Tests Ebook ExamView® CD Instructor’s Resource CD lesson plans/outlines instructor’s resource manual teaching tools PowerPoint™ presentations Spanish Glossary Instructor’s Edition of Printed Tests Instructor’s Edition of Student Activity Guide If your school adopts one of our personal finance texts, you will have a complete instructional plan, with every tool you could possibly need to teach, check, review, practice, assess, and make sure your students “got it.” With a class set of student editions, here are some of the resources available to you.

Economic Education for Consumers, 4e Instructional Resources Instructor’s Wraparound Edition Instructor’s Resource CD Student Workbook ExamView ® Ebook Instructor’s Resource Kit Instructor’s Edition Workbook Teaching Economics Book Reteach and Enrich Activity Masters Business Math, Communications, and Ethics Activity Masters Alternative Assessment Spanish Resources Learning Styles Using Technology

Personal Financial Literacy, 2e Instructional Resources Annotated Instructor’s Edition Student Workbook Ebook ExamView® Instructor’s Resource CD Spanish Resources Spanish Glossary

Where do we start? Personal experience - use as catalyst Standards and Competencies NBEA State Local District Jump$tart Cross-curricular applications Local parental and business partnerships Guest Speakers Web resources Articles

Take a closer look at our Texts for Personal Finance

Managing Your Personal Finances, 6e Author: Joan Ryan Copyright 2010 ISBN 978-0-5384-4937-3 Managing Your Personal Finances, 6th Edition Joan S. Ryan - Oregon City, Oregon ISBN-10: 0538449373 ISBN-13: 9780538449373 752 Pages Casebound © 2010 Published

Overview Informs students of their various financial responsibilities Chapters that not only inform but increase self-awareness and career readiness Written specifically for high school students New ways to maximize earning potential Strategies to manage resources Skills for the wise use of credit and investing money Focuses on career readiness, self-awareness, and personal finances

Features Alignment with National Programs Jump$tart Coalition National Academy Foundation NBEA standards for Personal Finance Students become active participants in the business world as Citizens Students Family members Consumers Reinforcement and extension in every chapter: Planning a Career in Math Minute Net Notes Unit Projects Life Span Plan Project LSP project that is integrated throughout the text and at the end of the books the students will have a life plan. National Standards: Aligned with the Jump$tart Coalition for Personal Financial Literacy's National Standards as well as National Business Education Association standards for Personal Finance.

Features Goals at the beginning of each lesson clearly state the learning objectives Key Terms within the Lesson are identified with page references Global View features show international connections relevant to personal finance

Features Communication Connection offers speaking and writing activities related to the chapter content. Math Minute offers a review and practice in basic math skills linked to the chapter topics. View Points provide opportunities for students to think critically about issues that have no clear-cut answers. Real-World Connections: An abundance of real-life examples makes the information more relevant and interesting for students.

Features Issues in Your World enriches students’ knowledge by acquainting them with the real-world issues. Planning a Career in… provides robust career information related to the chapter topic and it incorporates the Career Clusters.

Features Lesson and Chapter Assessments give students the opportunity to tie their learning together and dig deeper into the issues. Key Terms Review Check Your Understanding Apply Your Knowledge Think Critically Chapter Summary Apply What You Know Make Academic Connections Solve Problems and Explore Issues Extend Your Learning

Features End-of-Unit Cases profile real people and describe how they applied the skills presented in this text to their own lives. End-of-Unit Projects give students hands-on practice applying and extending what they have learned in each Unit.

Instructor Resources Annotated Instructor’s Edition Printed Tests Instructor's Resource CD IMPACT CD-ROM Lesson plans and outlines Animated graphs and figures illustrate key concepts Instructor’s resource manual Teaching tools Definition of terms are reinforced PowerPoint presentations Spanish Glossary Hot Links to relevant websites Instructor’s Edition of printed tests Forms to complete and send via email to instructor Instructor’s Edition of Student Activity Guide Instructor Companion Website ExamView ExamView® ISBN-10: 0538449411 | ISBN-13: 9780538449410 Impact CD-ROM ISBN-10: 0538449489 | ISBN-13: 9780538449489 Instructor's Resource CD-ROM (Hybrid) ISBN-10: 053844942X | ISBN-13: 9780538449427 Student Activity Guide ISBN-10: 053844939X | ISBN-13: 9780538449397 Contains study guide problems and activities for each chapter. Examples are vocabulary, fill in the blank, true/false, multiple choice, and problem solving questions. Tests ISBN-10: 0538449403 | ISBN-13: 9780538449403

Instructor’s Companion Website

Personal Financial Literacy, 2e Author: Joan Ryan Copyright 2010 Pub Date: January 2011 ISBN: 9780538449373 Finally, this is our newest personal finance text. It is completely unique because it was written specifically to meet the needs of a personal finance course that is part of the general graduation requirement.

Personal Financial Literacy, 2e Three to Know One-semester course Fulfills financial literacy graduation requirement Perfect for all 9th and 10th grade students   3 most important things to know… One-semester course Fulfills financial literacy graduation requirement Perfect for all 9th and 10th grade students  

3-4 lessons per chapter that cover financial literacy standards 12 Chapters Ch. 1: How Your Choices Affect Income Ch. 2: Income, Benefits, & Taxes Ch. 3: Your Purchasing Power Ch. 4: Financial Decisions & Planning Ch. 5: The Banking System Ch. 6: Personal Risk Management Ch 7: Buying Decisions Ch 8: Preserving Your Credit Ch 9: Credit Problems and Laws Ch 10: Basics of Saving & Investing Ch 11: Saving & Investing Options Ch 12: Buying & Selling Investments 3-4 lessons per chapter that cover financial literacy standards This book is broken into 12 chapters with 3-4 lessons per chapter that cover financial literacy standards

NEW Concepts covered in this edition Job search skills/online job applications Interviewing techniques Preparing resumes and cover letters Benefits/challenges of entrepreneurship Consumer rights and responsibilities in marketplace Charitable giving/philanthropy Health care providers, services, fraud Simple/compound interest Some new concepts covered in this edition include… Job search skills/online job applications Interviewing techniques Preparing resumes and cover letters Benefits/challenges of entrepreneurship Consumer rights and responsibilities in marketplace Charitable giving/philanthropy Health care providers, services, fraud Simple/compound interest

New to This Edition All features now include a question or activity for application Sharpen Your 21st Century Entrepreneurial Skills feature incorporates the framework for 21st Century Learning Exploring Careers has a new focus to link content more closely to the 16 career clusters Net Bookmark — a short feature that provides chapter-related activities for online research Take Action — an course-long project provides opportunity to synthesize concepts In addition to, all features now include a question or activity for application. Sharpen Your 21st Century Entrepreneurial Skills feature incorporates the framework for 21st Century Learning Exploring Careers has a new focus to link content more closely to the 16 career clusters Net Bookmark — a short feature that provides chapter-related activities for online research Take Action — an course-long project provides opportunity to synthesize concepts

Features Building Communication Skills feature focuses on crucial soft skills that are necessary in today’s competitive environment. (listening, reading, speaking, writing) Let’s take a closer look at the features… the Building Communication Skills feature focuses on crucial soft skills that are necessary in today’s competitive environment. (listening, reading, speaking, writing

Features Focus On…feature highlights specific topics related to chapter content and supports students’ participation in student organizations. Focus On…feature highlights specific topics related to chapter content and supports students’ participation in student organizations

Features Success Skills … feature provides information to help students be successful in school, work and personal activities. Success Skills … feature provides information to help students be successful in school, work and personal activities.

Net Bookmark Feature provides opportunities for students to use the most current, relevant information through online research Net Bookmark Feature provides opportunities for students to use the most current, relevant information through online research

Features Exploring Careers in….feature presents specific information about careers in the areas identified by the US Dept. of Education as the 16 Career Clusters Exploring Careers in….feature presents specific information about careers in the areas identified by the US Dept. of Education as the 16 Career Clusters

Feature Take Action feature provides students with an opportunity to synthesize the concepts by participating in an ongoing project throughout the chapter. Take Action feature provides students with an opportunity to synthesize the concepts by participating in an ongoing project throughout the chapter.

End of Lesson Assessment Key terms review helps students understand and apply key lesson terminology Check your understanding ensures student comprehension

End of Chapter Assessment Summary provides and concise wrap-up of chapter topics. Making Academic Connection relates chapter concepts to the “four core” curriculum areas

Personal Financial Literacy, 2e Instructional Resources Annotated Instructor’s Edition Student Workbook Ebook ExamView® Test Generator Instructor’s Resource CD Spanish Resources Spanish Glossary Guided Practice CD (workbook activities in Spanish and teachers can just print them off the CD) This text has a very robust resource package! Annotated Instructor’s Edition: easily at point of use for the teacher Student Workbook: review of chapter terms, building communication and math activities, career component. Ebook: ExamVIew: test generation software to enhance your assessment and save you time planning!!!!! IRCD: instructor’s resource cd contains customizable powerpoints, solution files, data files, etc. Spanish Resources: spanish glossary in back of book and a GUIDED PRACTICE CD. Guided Practice CD contains workbook activities in spanish and teachers can just print them off the CD and assign to their ELL learners. This is huge for differentiating instruction!!!!!!

Free Companion Website This is what the free companion website looks like. All of the items on the left scroll down menu that are padlocked are instructor resources The non-padlocked items are student resources. Notice that your teacher resources include solutions to the net bookmark activities, customizable powerpoint presentations, software solutions, supplemental activity solutions, and data files.

Just a few items that you will find on that companion website including flash based student review games for each chapter, interactive flashcards, a full glosssary that the student can print out to review terms, web activities and more supplemental activities to further incorporate reading and writing across the curriculum.

Personal Financial Literacy, 2e Author: Joan Ryan Copyright 2010 Pub Date: January 2011 Managing Your Personal Finances, 6th Edition (next edition 2012) Joan S. Ryan - Oregon City, Oregon ISBN-10: 0538449373 ISBN-13: 9780538449373 752 Pages Casebound © 2010 Published

Economic Education for Consumers, 4e Author: Miller and Stafford Copyright 2010 ISBN 978-0-5384-4888-8 Managing Your Personal Finances, 6th Edition (next edition 2012) Joan S. Ryan - Oregon City, Oregon ISBN-10: 0538449373 ISBN-13: 9780538449373 752 Pages Casebound © 2010 Published

Bring Economics to life! Focus on consumer spending and making wise purchasing decisions Bright, new design Updated information on important changes in technology, banking, and taxes Content aligned with Jump$tart coalition National Standards for Personal Financial Literacy Year-long course 9 & 10th grade – lower levelo

Valuable and Relevant Content Extensive coverage is given to planning for college, retirement, saving, loans, online shopping, and banking.

Real-world Applications Life-Span Plan Project Links all aspects of personal finance to the students’ lives!

Maintain Student Interest Consumer Action Consumer Alert Vote Your Wallet Math Money NetBookmark In Class Activity Consumer Action – interesting lesson opener that highlights a young person facing a real-world consumer dilemma. Vote Your Wallet – helps students learn about their important political role as a consumer Math Money – activities that provide continuing review and practice of basic math skills used in consumer decisions

Student Resources Workbook Key Terms Review Concepts Review Critical Thinking Consumer Applications Make Decisions Companion Website IMPACT

Instructor Resources Companion Website Instructor’s Wraparound Edition ExamView Instructor Resource Box Workbook solutions Printed Test bank Reteach and Enrichment Activities Alternative Assessments Test Preparation and Study Skills IMPACT

Instructor Resource CD Everything from the Instructor Resource Box is on the IRCD electronically. In addition to the box there are Lesson Plans, PPT slides, and JumpStart Standards Correlation.

PowerPoint Presentation

What your students learn in this book will have a direct impact on their life today and throughout their future!!

Other products available…

Session Outline Why teach Personal Financial Literacy? Personal Financial Literacy covers what topics? How to teach Personal Financial Literacy Use of Instructional Materials and Resources

For live or recorded webinars and training sessions, visit our TeamUP Training & Services website! www.cengage.com/school/teamup/

www.cengage.com/focus/pa This is your state website. Here you can browse our complete catalog as well as view presentations that have been given in your state. Today, I will be posting our presentation to this state site so that you can reference it as needed.

http://www.cengagesites.com/academic/?site=5266 Visit our new Personal Financial Literacy Community site!

Andrea Neff National Sales Consultant Andrea.neff@cengage.com Questions? Andrea Neff National Sales Consultant Andrea.neff@cengage.com