Why is financial education important? Look at Nan Morrison’s response Record your ideas 8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.2

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.3 Why is K-12 financial education so important? The lack of financial literacy is a national problem. Research suggests that learning about personal finance at an early age is the key. Citizens need the knowledge to be able to make well-informed, sound public policy decisions.

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.4 Why is K-12 financial education so important Americans have approximately $1 trillion in revolving credit card debt. - half make the minimum monthly payment. Nationally, those under 25 are the fastest- growing age group filing for personal bankruptcy.

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.5 Personal Finance Video Series on DVD Developed by NCEEDeveloped by NCEE Funded by the Citigroup FoundationFunded by the Citigroup Foundation

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.6 Aimed primarily at High School Students Helps students develop sound financial life skills Illustrates how sound choices can Build financial success and Lead to a more satisfying life

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.7 The Teacher’s Guide includes: 15 lessons – 3 for each of the 5 videos Tables of Correlation with NCEE Economics Standards Jump$tart Personal Finance Standards, National Council of Teachers of Mathematics Standards A glossary of terms Pre- & post-test questions for classroom use

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.8 The first lesson for each video includes a short true/false and a short activity The remaining two lessons feature role plays and group work to develop content introduced in the videos

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8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.12 Video 1 – Get a Financial Life

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.13 Video 1 – Get a Financial Life Introduces basic vocabulary and key concepts such as wealth building, savings and an important rule: “Spend less than you earn”

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8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.21 Video 2 – Get Smart

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.22 Video 2 – Get Smart Decisions Have Consequences Covers trade-offs and opportunity costs related to decisions, both small, e.g., “What to wear?” and large, e.g., “How much time and income to devote to investing in one’s own human capital?”

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.23 Video 2 – Get Smart Decisions Have Consequences A trade-off occurs when you give up some of one thing to have more of another. An opportunity cost is the value of the next best thing that you have given up.

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8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.27 Financing Your Future

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.28 Financing Your Future

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8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.31 Video 3 – Get Banked

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.32 Video 3 – Get Banked The Banking Advantage Illustrates how vital it is to have a banking relationship Reveals the surprisingly high cost of being “unbanked” Warns of the pitfalls of frequenting pay-day lending and check- cashing establishments

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8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.34 How much insurance coverage does the FDIC provide? The standard maximum deposit insurance amount is described as the “SMDIA” in FDIC regulations. The SMDIA is $250,000 per depositor, per insured bank, through December 31, On January 1, 2014, the SMDIA is scheduled to return to $100,000 per depositor, per insured bank, for all account ownership categories except Certain Retirement Accounts, which will remain at $250,000 permanently per depositor, per insured bank. 1. 1

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8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.40 Video 4 – Get the Credit you Deserve

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.41 Video 4 – Get the Credit You Deserve Demystifies credit and debt Shows that smart decision-making can enable a more fulfilling life Discusses APR calculations and credit scores in detail

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8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.45 Video 5 - Get a Financial Plan

8 October 2015FINANCING YOUR FUTURE © NATIONAL COUNCIL ON ECONOMIC EDUCATION, NEW YORK, N.Y.46 Video 5 – Get a Financial Plan Stresses the importance of budgeting and planning, saving early and often Discusses compound interest “paying yourself first” various investment instruments risk tolerance

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