Free Financial Education Resources for Educators Luke W. Reynolds Chief, Outreach & Program Development

FEDERAL DEPOSIT INSURANCE CORPORATION The FDIC  An independent federal agency  Major responsibilities:  Insuring deposits  Bank supervision  Failed bank resolution  Economic Inclusion

FEDERAL DEPOSIT INSURANCE CORPORATION FDIC’s Money Smart Initiative  Money Smart for Adults (2001)  More than 3 million people  Longitudinal data showing effectiveness  Youth version (2008)  Older Adults version (w/ CFPB) 2011  Small Business version (w/ SBA) 2012  Money Smart for Young People 2015

FEDERAL DEPOSIT INSURANCE CORPORATION Youth Financial Education  More than 1 in 6 students struggle with basics such as recognizing the difference between needs and wants  Research shows financially capable young people are more likely to become financially secure adults

FEDERAL DEPOSIT INSURANCE CORPORATION Goals  Give K-12 educators resources they can use to feel prepared and confident  Encourage parents and caregivers to have conversations and do activities with their kids  Promote hands-on learning, with a particular focus on financial education tied to savings accounts

FEDERAL DEPOSIT INSURANCE CORPORATION New Money Smart Series  Money Smart for Young People series:  Grades Pre-K-2  Grades 3-5  Grades 6-8  Grades 9-12

FEDERAL DEPOSIT INSURANCE CORPORATION Involves Educators, Students, and Parents/Caregivers  Resources for:  Teachers Educator Guide Overheads  Students  Parents/Caregivers Resources to support learning Conversation-starters Activities

FEDERAL DEPOSIT INSURANCE CORPORATION Series Highlights  Every curriculum includes:  Multiple lessons that can be taught alone or in combination  Standards alignment charts  Ideas for grade-level modification  Real-life exercises and examples  Suggestions for optional books or online games/tools that can reinforce student understanding  Ideas to integrate into existing academic subjects such as English, Mathematics, and Social Studies

FEDERAL DEPOSIT INSURANCE CORPORATION Grades Pre-K-2 Educator Guide Lessons: 1.Counting Coins - Understanding Currency 2.Learn to Earn - Earning Money 3.Weighing Wants and Needs - Wants versus Needs 4.Ready. Set. Goal. - Setting Goals 5.Super Savers - Saving and Spending 6.Borrowing Bills - Borrowing and Lending

FEDERAL DEPOSIT INSURANCE CORPORATION Grades 3-5 Educator Guide Lessons: 1.Money Matters - Buying Decisions 2.Get Set for Goals - Setting Goals 3.Make a Plan - Budgeting 4.Save Your Money – Saving 5.Which Way to Pay? - Payment Options 6.Get Invested - Introduction to Investing 7.It’s Great to Donate! - Charitable Giving 8.Career Choices - Exploring Careers & Income

FEDERAL DEPOSIT INSURANCE CORPORATION Grades 6-8 Educator Guide Lessons: 1.The Path to Success - Career and Job Opportunities 2.Bread and Butter - Introduction to Taxes 3.Designing Dreams - Financial Goals 4.Being a Savvy Shopper - Smart Shopping 5.Go with the Flow - Cash Flow and Budgeting 6.Super Savers - The Importance of Saving 7.How to Stash Your Cash - Savings Options 8.Money Doesn’t Grow on Trees - Investing Options 9.Give Credit Where Credit Is Due - Credit and Debt 10.Protecting Yourself - Protecting Your Identity 11.Risky Business - Financial Risk 12.Spend, Save, or Give? - Personal Financial Choices

FEDERAL DEPOSIT INSURANCE CORPORATION Grades 9-12 Educator Guide Lessons: 1.Working Hard for the Money - Career Options 2.Designing Dreams - Financial Planning 3.Can You Pay Your Bills? - Spending and Budgeting 4.Boost Your Savings - Importance of Saving 5.Bank Your Bucks - Choosing a Banking Partner 6.Bread-and-Butter - Managing Your Paycheck 7.Capacity, Character, Collateral, Capital - Credit 8.The Almighty Dollar? - Credit Cards 9.As Easy as Pi - Financial Ratios 10.Convertible or Clunker? - Automobile Purchase 11.Risky Business - Risk Management and Insurance 12.Halls of Knowledge - Financing College continued….

FEDERAL DEPOSIT INSURANCE CORPORATION Grades 9-12 (continued) Educator Guide Lessons: 13.The Policy of Personal Choice - Understanding the Economy 14.Increasing the Value of Your Money - Financial Markets and Investing 15.Road to Retirement - Retirement Planning 16.Crash Pad - Homeownership and Renting 17.Pocket Giving - Charitable Giving 18.Paving the Future - Estate Planning 19.Financial Sleuth - Financial Resources 20.Protect Yourself - Consumer Protection 21.Launching Your Dream - Entrepreneurship 1: Starting a Business 22.Maintenance Mode - Entrepreneurship 2: Maintaining a Business

FEDERAL DEPOSIT INSURANCE CORPORATION Download for Free!  Teacher Online Resource Center   One-stop for FDIC & CFPB resources  Videos Shopping Wisely Setting Savings Goals A Field Trip to the Bank

FEDERAL DEPOSIT INSURANCE CORPORATION 15 Parents and Caregivers Resources

FEDERAL DEPOSIT INSURANCE CORPORATION Money Smart News  View online or subscribe  Provides:  Updates on the Money Smart program  Success stories. Samples: Money Smart for Young Adults: Success Stories and Strategies for the School Year Personal Statements & Essay Contests: Sharing Money Smart and Success Stories Passing the Test: Success Stories and Tips for Teaching Kids About Money

FEDERAL DEPOSIT INSURANCE CORPORATION Money Smart Alliance  Alliance members can assist by:  teaching/delivering Money Smart  hosting classes  facilitating program implementation  promoting Money Smart  funding local efforts  evaluating Money Smart efforts  enhancing delivery and distribution networks.

FEDERAL DEPOSIT INSURANCE CORPORATION FDIC’s Role  Distribute the curriculum to potential instructors  Provide technical assistance, possibly including linking sites interested in delivering financial education with potential instructors  Publications  We want to hear what questions educators have on the curriculum

FEDERAL DEPOSIT INSURANCE CORPORATION   Quick Links to Articles (right-hand side) Quick Links to Articles FDIC Consumer News

FEDERAL DEPOSIT INSURANCE CORPORATION Youth Savings  School savings programs are a promising strategy to promote lifetime economic inclusion  FDIC Youth Savings Pilot  Interagency Guidance to Encourage Financial Institutions’ Youth Savings Programs and Address Related Frequently Asked Questions

FEDERAL DEPOSIT INSURANCE CORPORATION Luke W. Reynolds Questions / Discussion