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Happy New Year! With many setting resolutions to increase their saving or get control of their spending, now is a great time to consider how you are teaching personal finance and economics. In this email you'll find resources you can put to use in your classroom and links to other useful tools.
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Making Cents Webinar - Wednesday, January 9th - Register Today
Kick off the New Year with new ideas by participating in a Making Cents: Financial Literacy and Economic Education Webinar on Wednesday, January 9th. This free online professional development program is offered through a partnership between the Pennsylvania Department of Education and Penn State University and will be offered at two times to accommodate various schedules: 3:00pm - 4:30pm and 6:30pm - 8:00pm.
Each session will feature the following speakers and topics:
- EverFi's Financial Literacy Program by Tom Parisi, EverFi
- Understanding the Federal Reserve System by Dr. Andrew Hill, Federal Reserve Bank of Philadelphia
- Using Infographics in your Classroom by Hilary Hunt, Financial Education Consultant
Registration is limited, so please reserve your spot now via the corresponding registration link:
- To register for the afternoon webinar (3:00pm - 4:30pm) - click here or use the following link: http://www.instantpresenter.com/PIID=EB54DE86814A
- To register for the evening webinar (6:30pm - 8:00pm) - click here or use the following link: http://www.instantpresenter.com/PIID=EB54DE868148
The content of the webinar is appropriate for K-12 teachers (at the high school level, the content is most suitable for those teaching personal finance, economics or math), curriculum directors, and administrators.
The training will be conducted completely online. All you need to attend is a computer with Internet access and speakers or headphones to hear the presenters. Participants will be granted two hours of Act 48 credit for their participation.
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| New Program Launched by Vanguard |
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Vanguard's New "My Classroom Economy" Program
Vanguard, an investment management firm based in Valley Forge, PA, has launched a new and innovative program to teach personal finance and economics to students in kindergarten through 12th grade. The My Classroom Economy program uses fun, experiential learning and a simulated microeconomy to teach students how to make wise money decisions.
Students earn school "dollars" by completing classroom jobs and performing exceptionally. They use their salary to rent their desks. They can earn additional income by completing extra-credit assignments, achieving exceptional grades, or participating in extracurricular activities. They can also be fined for not meeting classroom expectations regarding school work or behavior.
At the end of each month, students may spend their discretionary income at a class store or auction where grade-appropriate items like markers, small toys, and lunch with the principal are sold. Students assess their budget, bills, and income to determine how much they can spend.
Alternatively, they can choose to save money by not buying at all or delaying purchases. With their savings, students can eventually buy their desks outright and thus stop paying rent. Supersavers can also purchase the desks of other students and earn rent.
The program adapts to the increasing sophistication of students as they mature. For instance, middle school students begin paying for electricity and taxes in addition to their rent, requiring them to budget for multiple expenses. High school students can purchase certificates of deposit and a desk or car insurance. They can also open a classroom investment account using a custom-designed investment simulator to choose a diversified asset allocation among stocks and bonds. Students are taught to think of investing as a long-term proposition by experiencing 32 years of returns within a single school year.
The program is free of charge. Classroom materials may be downloaded from the website. If your school lacks resources to print or copy materials from the site, you can request that materials be mailed directly to you. |
| Updated Curriculum Resources from Visa |
 Visa's Practical Money Skills for Life Program Updated
Visa has long provided materials for classroom teachers on a variety of personal finance topics. Recently they updated their lessons for grades 9-12. This new curriculum resource features engaging design, student-centered activities, research projects, discussion points, and tools and resources. You can use the 22 free, standards-aligned lessons in sequence or individually. Each lesson includes student activities and a teacher's guide. Topics range from "Why it Pays to be Financially Responsible" to "Saving for a Rainy Day" to "Staying out of Debt." Lessons are also available for grades Pre-K - 2, 3 - 6, and 7 - 8. | In addition to the Practical Money Skills for Life lesson plans, Visa also offers a variety of online games that promote financial literacy. Financial Football is appropriate for individuals age 11 and older and has accompanying lesson plans. Students compete in teams - complete with NFL branding - to answer personal finance questions, gain yardage, and score goals. Other games include Financial Soccer, Money Metropolis, and Peter Pig's Money Counter.
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| Program Evaluation Tool: Measure Your Success |
 Is Your Financial Education Program Working? How do you know if the lessons you are using are working? Are you meeting the objectives you have set for your program or course? Are parents pleased with the course? Is the knowledge of students increasing? Perhaps just as importantly, are your students' behaviors and aspirations changing?
Good program evaluation goes beyond giving students quizzes or tests at the end of each lesson. However, developing strong evaluation tools is not always easy. Luckily, the National Endowment for Financial Education (NEFE) offers a thorough toolkit and accompanying resources for evaluating financial education programs. A manual accompanies the toolkit and provides a thorough overview on financial education program evaluation, processes to conduct a thorough program evaluation and what to do with the data you collect. For a brief introduction to the NEFE Evaluation Toolkit, download the Quick Start Guide or watch their webinar.
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 Edutopia's Schools that Work Series Focuses on Financial Literacy
Edutopia, an initiative of the George Lucas Educational Foundation, regularly profiles K-12 schools, districts, and programs that are dramatically improving the way students learn through their Schools that Work series. In a recent installment, the Edutopia team focused on financial literacy and a very successful model program at Ariel Community Academy on the South Side of Chicago. The feature provides information about how financial literacy makes school relevant, the curriculum resources and lesson plans, a video about the program, and evidence of the program's results.
The Edutopia staff also produced an informative infographic on the value of financial literacy as seen below.
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Upcoming Making Cents Webinars
Additional webinars will be held on the dates below. Each will be offered from 3:00 pm - 4:30 pm and 6:30 pm - 8:00 pm.
February 21
- Family Economics and Financial Education Program
- How Money Values Impact Teaching
- Reports of the Pennsylvania Department of Education and Task Force on Economic and Financial Education
March 20
- Financial Fitness for Life Program
- Advances in Mobile and Online Banking
- Your Money's Best Friend Website
April 24 or 25
- New Film from the Federal Reserve Bank of Philadelphia
- Protecting Your Personal Identity
- New National Standards in Financial Literacy
Summit on Financial Education
The Federal Reserve Bank of Chicago and Visa Inc will co-host the seventh annual Financial Literacy and Education Summit on April 17th. The program will bring together international financial literacy experts who will address potential solutions to improving women's financial literacy and capabilities globally. Register online to watch the free, live webcast and stay informed about event details. Consider watching the summit with your students and discuss the presentations afterwards.
National Financial Educator Training
The Family Economics and Financial Education (FEFE) program is bringing its national training program to the east coast this summer. The program will be held July 30 - August 1 in Owings Mills, Maryland. Mark your calendars now and stay tuned for registration details.
Know of other events? Let us know so we can share them in the next issue. |
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 | | Money as You Grow | |
Have you ever looked for a concise, easy-to-share list of what kids should know at various ages in order to live financially smart lives?
Well - look no further. The Money as You Grow website does just that. Developed by leaders in financial education from across the country, the website offers 20 things kids need to know about money from age three into adulthood. There is even a poster you can download.
Consider distributing the list to parents at conferences or sharing a link to the site from your school or classroom website.
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| Conducting a Program Review |
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Guide to Increasing Financial Capability among Students in K-12 Schools
A recently released Guide to Increasing Financial Capability among Students in K-12 Schools provides a series of key steps to follow.
Step 1: Assess the local educational environment.
Step 2: Build a team.
Step 3: Define the problem and set program goals, objectives and metrics.
Step 4: Design the strategy and define the curriculum/ program.
Step 5: Focus on instruction and instructors.
Step 6: Implement.
Step 7: Evaluate results and adjust accordingly.
The guide from the President's Advisory Council on Financial Capability includes detailed information and suggestions for each step along the way along with a list of additional resources in the appendix.
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Making Cents is a cooperative effort by the Pennsylvania Department of Education and the Pennsylvania State University. If you find the content useful, please consider forwarding it to your colleagues.
Team Members:
Sally Flaherty, PDE
Cathy F. Bowen, PSU
Hilary Hunt, Consultant
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