Personal Finance

Personal Finance Is A Lot Like Relationships

 

Matt Gherman photo Personal Finance Is A Lot Like RelationshipsWritten by: Matthew Gherman 11/12th Grade Teacher of AP Economics, American History, ELL Global History at Edward R. Murrow High School, Brooklyn, NY. Matthew received the 2015 Alfred P. Sloan Foundation Teaching Champion Award.

 

Personal finance is a lot like relationships. They’re both taboo subjects in which everyone professes their advice and expertise, but in reality each is a very imprecise science. For high school students, these two topics are numbers one and two in terms of their curiosity (personal finance is probably a distant, but strong, second place). The curiosity and eagerness that surround this topic are what makes it fun to teach.  Students are familiar with many of the terms: interest rates, stocks, bonds, checking account, credit cards, credit score; yet there is so much room for exploration and enlightenment. For both finance and relationships there is wisdom that would be helpful to know at the age of 18, but is only earned from life experience. Therefore, the best approach to teaching the subject incorporates knowledge learned by trial and error, paving the road for the next generation.

Also at the age of 18, these are topics that might seem far away, but really they are much closer and include situations that students need to be ready for.  Students need to understand that their credit score is their life GPA, and they need to start building it now and learning how to build it now.  At 18, they can open up an investment account and learn how to begin to grow their money at a rate faster than a savings account. They need to begin building that big savings for important purchases that will all possibly come within a decade: college, car, apartment, engagement ring, marriage, home and children.  Many of these are concepts that they probably shrug at as “not my problem now,” but that decade goes by fast, and with it a lot of missed opportunity to improve their futures. The savings and investing which will make each stage of their lives easier starts at 18 (or even earlier) and the teacher is the provider of all of this information. The questions and enthusiasm that they bring to class enhance the teaching experience exponentially.

The ease with which these topics can be differentiated is also a great selling point for teaching it. Depending on student strengths, your lessons can range from just reviewing the basics to dissecting and debating scholarly articles and evaluating political implications. There is also opportunity for independent research, web-quests and presentation projects which add a different flavor to the class.  Additionally, teachers aren’t limited by being shackled to a state test at the end of the year. This subject allows creativity for both teachers and students.

Personal finance is strongly connected to the civic responsibility of voting. So many times politics is reduced to sound bites, preying on an uneducated class of voters. There are many social political issues that are shades of gray and fun to debate, but ultimately, the questions all students should have on their minds are what does the government do with our money and what are the implications of government actions on our wages, healthcare, investments, mortgages, and income taxes. Teaching personal finance creates a better informed and responsible citizenry.

The most important aspect of teaching personal finance is that these are life skills. This is the most useful course that students will take in high school because it will help them to be college ready, career ready, and life ready.

POSTED: April 5, 2016 | BY: April Somboun | TAGS: , , , , , ,

CEE Report – Winter 2016

Winter CEE Report Cover CEE Report   Winter 2016In This Issue:

2015 Visionary Awards: A Record-Breaking Year!
Note from Nan
Focus on the Mississippi Council on Economic Education
2015 Accomplishments
54th Annual Financial Literacy and Economic Education Conference
2016 Survey of the States Released
Over 100 Video-Entries for CEE’s Video Contest
An Innovative Digital Assessment Tool to Track Students’ Progress
Integrating Math and Real World Concepts to Hook Kids
2015 Donor Honor Roll

POSTED: February 4, 2016 | BY: Daniel Thompson | TAGS: , , , , , , ,

Teachers and Students: Tell us ‘What Should the President do to Improve the Economy?’

CEE is excited to announce the launch of its video contest asking students in kindergarten through 12th grade for the best economic advice they can give the President of the United States. To enter the contest, record one student, or a group of students, answering the following question in 60 seconds or less:

“What Should the President do to Improve the Economy?”

Enter by Wednesday, October 7th at 11:59 p.m. Please note that teachers must enter the videos on behalf of their students. Teachers may enter more than one video per class.

Download a pdf of the rules and FAQ here. Use the hashtag #CEEVidContest to follow the contest on Facebook, Instagram and Twitter.

Watch a video from a past CEE Video Contest Entry

 Teachers and Students: Tell us ‘What Should the President do to Improve the Economy?’

 

The contest is hosted on Facebook. Not all schools allow access to Facebook, so please plan accordingly by uploading your video to Facebook via a computer not associated with your school.

One winner will be chosen by CEE Facebook fans (“Viewers’ Choice”) and one winner will be chosen by economists selected as judges by CEE (“Economists’ Choice”). Prizes include a $500 American Express gift card for each teacher winner, and $25 iTunes gift cards for the student(s) featured in the winning videos.

Video Submission Period
Opens: Thursday, September 10, 2015, 9:00 a.m. ET
Closes: Wednesday, October 7, 2015, 11:59 p.m. ET

Public Voting Period
Starts: Thursday, October 8, 2015, 5:00 p.m ET
Ends: Thursday, October 15, 2015, 3:00 p.m. ET

POSTED: September 10, 2015 | BY: Annamarie Cerreta | TAGS: , , , ,

Hospital Schools Program Gives Students a Dose of Financial Literacy

Douglas Young 300x161 Hospital Schools Program Gives Students a Dose of Financial LiteracyNew York-Presbyterian/Morgan Stanley Children’s Hospital is one of forty hospitals across the five boroughs where patients are given classroom instruction through the Hospital Schools program.

Through lessons that follow the Common Core Learning Standards, students from Pre-K through high school learn the 3 R’s. In addition, for the past three years, they have been getting a dose of economics and financial literacy through the Council for Economic Education‘s Financial Fitness for Life program.

CEE’s Douglas Young talks about the importance of teaching these kids economics and personal finance. Read the full article here.

 

 

POSTED: May 27, 2015 | BY: Annamarie Cerreta | TAGS: , , , ,

CEE Launches Math in the Real World

Math in the Real World CEE Launches Math in the Real WorldThe Council for Economic Education has launched its newest resource: Math in the Real World. Math in the Real World contains interdisciplinary lessons aimed at teaching personal finance and economic concepts, all in the context of math lessons.

Math in the Real World includes lessons that range from “Break-Even Analysis” and “Profit Maximization” to lessons on payday loan expenses and building good credit.

Read more…

POSTED: December 8, 2014 | BY: Daniel Thompson | TAGS: , , , , , , , , , , , , , ,

CEE Offers Free Online Assessment Center

online assessment center large CEE Offers Free Online Assessment Center

The Council for Economic Education is now offering the Online Assessment Center. The OAC is a free online resource that provides teachers with an easy and efficient way of measuring their students’ academic progress. It allows teachers to track real-time data on their students’ understanding of economic and financial concepts.
Read more…

POSTED: December 1, 2014 | BY: Daniel Thompson | TAGS: , , , , , , , , , , , , , , , , , , , , ,

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