Financial Education for a New Generation What’s all the BUZZ about?

“The U.S. economy is the eighth wonder of the world. Americans’ ignorance of it is the ninth.” Arthur Levitt Former chairman, New York Stock Exchange

Today’s teens… In a recent survey, fewer than half of teens polled understood how to budget.In a recent survey, fewer than half of teens polled understood how to budget. Entering college freshmen have an average debt of $1,500 on personal credit cards.Entering college freshmen have an average debt of $1,500 on personal credit cards. The average credit card debt for college seniors is $2,864; a 48% increase from college freshmen.The average credit card debt for college seniors is $2,864; a 48% increase from college freshmen. The average debt of graduating college seniors including student loans is $20,000.The average debt of graduating college seniors including student loans is $20,000. Americans under age 25 are filing for bankruptcy faster than any other age group.Americans under age 25 are filing for bankruptcy faster than any other age group.

Have you heard the news? Youth financial education is now a requirement in public high school curriculum.Youth financial education is now a requirement in public high school curriculum. Updated programs reflect changes in state standards.Updated programs reflect changes in state standards. Multiple resources available at no charge.Multiple resources available at no charge. Support staff includes national partners, local experts and Extension educators.Support staff includes national partners, local experts and Extension educators.

SB3741/HB3753 What is it?What is it? How will it affect TN teachers and students?How will it affect TN teachers and students? How will it affect 4-H agents?How will it affect 4-H agents? Who can teach it?Who can teach it? What are the learning expectations?What are the learning expectations? What programs are available?What programs are available?

What is it… SB3741/HB Legislative Session2006 Legislative Session Signed by the GovernorSigned by the Governor Summary: Program of instruction for public high schools on the elements of personal finance and financial literacy.Summary: Program of instruction for public high schools on the elements of personal finance and financial literacy.

How will it affect… Teachers: Defined content areas meeting established State standardsDefined content areas meeting established State standards Free training and materialFree training and materialStudents: Subject area covers:Subject area covers: Income Money Management Spending and Credit Savings and Investing

How will it affect… 4-H Agents:  Opportunity to train teachers  Great resource for club meetings and classroom presentations

Who can teach it? To meet State standards course will be: Taught by any licensed secondary teacherTaught by any licensed secondary teacher Focused on grades 9-12Focused on grades 9-12 One semester in duration (1/2 Carnegie unit)One semester in duration (1/2 Carnegie unit)

What are the learning expectations? Design personal and household budgets.Design personal and household budgets. Simulate use of checking and savings accounts.Simulate use of checking and savings accounts. Demonstrate knowledge of finance, debt & credit management.Demonstrate knowledge of finance, debt & credit management. Evaluate and understand insurance and taxes.Evaluate and understand insurance and taxes.

NEFE HSFPP

A Winning Combination Bringing Financial Education to the Nation’s Youth

HSFPP Training Model Training to be conducted across the state for agents and teachers during the summer and early fall.Training to be conducted across the state for agents and teachers during the summer and early fall. Can be individual or team-teaching sessions.Can be individual or team-teaching sessions. Session time: 9-3Session time: 9-3 See sign up sheet!!!! See sign up sheet!!!!

NEFE High School Financial Planning Program FREE!FREE! Easy to implementEasy to implement Can be taught in as few as 10 hoursCan be taught in as few as 10 hours Flexible format that teachers likeFlexible format that teachers like Proven to change students’ knowledge, actions and self-confidence around moneyProven to change students’ knowledge, actions and self-confidence around money Strictly educational in natureStrictly educational in nature

Areas of focus: Unit 1: Your Financial Plan -Where It All Begins -Where It All Begins Unit 2: Budgeting -Making the Most of Your Money -Making the Most of Your Money Unit 3: Investing -Making Money Work for You -Making Money Work for You Unit 4: Good Debt, Bad Debt -Using Credit Wisely -Using Credit Wisely Unit 5: Your Money -Keeping It Safe and secure -Keeping It Safe and secure Unit 6: Insurance Unit 6: Insurance -Protecting What You Have -Protecting What You Have Unit 7: You Career -Doing What Matters Most -Doing What Matters Most

Instructor Resources ManualManual Instructor WebsiteInstructor Website Supplemental learn by doing activitiesSupplemental learn by doing activities TestsTests GlossaryGlossary Dr. Ann BerryDr. Ann Berry 218 Morgan Hall University of Tennessee Knoxville, TN Sarah TaylorSarah Taylor 218 Morgan Hall University of Tennessee Knoxville, TN

Other NEFE Resources CurriculumCurriculum Success Street Sweep (Interactive game)Success Street Sweep (Interactive game) Web-Based TrainingWeb-Based Training Teen Resource BureauTeen Resource Bureau

NTRBOnline.com NEFE Teen Resource Bureau

Money $peaks  Helping Teens and Parents Communicate about Money

4-H Financial Education Club Meeting Programs  Grades 4-6  Grades 7-12

Educational gameEducational game Questions based on NEFE materialQuestions based on NEFE material Game can be customized to use with other curriculumGame can be customized to use with other curriculum Bill Gates Chairman/CEO Bill Gates Chairman/CEO Microsoft Corporation Microsoft Corporation

Community Resources… Get Everyone Involved CPA’sCPA’s Certified Financial Planners (CFP’s)Certified Financial Planners (CFP’s) & Financial Advisors Insurance AgentsInsurance Agents Banks & Credit UnionsBanks & Credit Unions Junior AchievementJunior Achievement Non-Profit AgenciesNon-Profit Agencies Other Government AgenciesOther Government Agencies -HUD, Social Security Administration, Dept of Labor etc. Retired ProfessionalsRetired Professionals

Join Us! TN Jump$tartTN Jump$tart Teacher Conference June 20-22, 2007June 20-22, 2007 Gatlinburg, TNGatlinburg, TN

Now what? May 10 th agent trainingMay 10 th agent training SIGN UP!!! (sheets in back of room) Schedule a teacher training in your countySchedule a teacher training in your county